Tracking as a Service Market Analysis, Size, and Forecast 2024-2028:
North America (US and Canada), Europe (France, Germany, Italy, and UK), Middle East and Africa (Egypt, KSA, Oman, and UAE), APAC (China, India, and Japan), South America (Argentina and Brazil), and Rest of World (ROW)

Tracking as a Service Market Size 2024-2028

The tracking as a service market size is forecast to increase by USD 2.4 billion, at a CAGR of 17.34% between 2023 and 2028.

• The market is experiencing significant growth, driven by the increasing demand for fleet management solutions. Businesses across industries are recognizing the value of real-time location tracking and analytics to optimize operations, enhance customer service, and improve safety. A key catalyst for this trend is the growing adoption of Internet of Things (IoT) technology, which enables seamless integration of tracking services into various applications and devices. However, the market also faces challenges that require careful navigation. Rising privacy concerns and regulations related to GPS tracking are becoming increasingly stringent, necessitating robust data security measures and transparent communication with customers.
• Companies must balance the benefits of tracking services with the need to protect user privacy and comply with regulatory requirements. Effective management of these challenges will be crucial for market players seeking to capitalize on the opportunities presented by the market.

What will be the Size of the Tracking as a Service Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.  
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The Tracking as a Service (TaaS) market continues to evolve, driven by the growing demand for real-time data and operational efficiency across various sectors. TaaS solutions enable businesses to seamlessly integrate data processing, temperature tolerance, network infrastructure, alerting systems, cost reduction, historical data, data security, mobile applications, GPS tracking, business intelligence, predictive analytics, and location data. Power consumption and time optimization are key considerations in the TaaS market, with Wi-Fi connectivity and satellite navigation playing essential roles in optimizing logistics and supply chain operations. Sensor fusion and risk management are also critical components, ensuring the reliability and accuracy of tracking data.

Battery life and integration services are crucial factors in the selection of tracking devices, with cloud computing and wireless communication enabling scalability and flexibility. Data storage and reporting dashboards provide valuable insights for businesses, while positioning algorithms and API integrations enhance the functionality of tracking solutions. Water resistance, shock resistance, and cellular networks further expand the applications of TaaS, enabling real-time tracking in various industries, from fleet management to inventory management and asset tracking. The ongoing development of IoT sensors and RFID tracking technologies continues to drive innovation in the market, offering new opportunities for businesses to optimize their operations and gain a competitive edge.

How is this Tracking as a Service Industry segmented?

The tracking as a service industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• End-user
  • Manufacturing
  • Transportation and logistics
  • Healthcare
  • Others
• Deployment
  • Cloud
  • On-premises
• Service Type
  • Platform as a Service (PaaS)
  • Software as a Service (SaaS)
• Tracking Type
  • Asset Tracking
  • Fleet Tracking
  • Personnel Tracking
  • Inventory Tracking
• Geography
  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • Italy
    • UK
  • Middle East and Africa
    • Egypt
    • KSA
    • Oman
    • UAE
  • APAC
    • China
    • India
    • Japan
  • South America
    • Argentina
    • Brazil
  • Rest of World (ROW)

By End-user Insights

The manufacturing segment is estimated to witness significant growth during the forecast period.

In the dynamic business landscape, the market has experienced significant growth, particularly within the manufacturing sector. This sector's integration of tracking technologies has transformed manufacturing processes, leading to heightened efficiency, productivity, and improved supply chain management. By employing tracking solutions, manufacturers can monitor raw materials, work in progress, and finished goods in real-time, streamlining processes, minimizing delays, and reducing operational expenses. Advanced tracking systems enable precise control, a crucial factor in industries where accuracy and timeliness are paramount. Wi-fi connectivity, GPS tracking, and sensor fusion are integral components of these solutions, providing real-time data on location and condition.

Sensor data is processed and analyzed to optimize power consumption and enhance operational efficiency. Risk management is bolstered through tamper detection and alerting systems, while cost reduction is achieved through predictive analytics and inventory management. Cloud computing and wireless communication facilitate seamless data integration and reporting, allowing for data-driven decision making. Positioning algorithms ensure accurate asset tracking, while integration services enable smooth implementation across various systems. Real-time tracking and supply chain visibility are essential for maintaining a competitive edge. IoT sensors, RFID tracking, and Bluetooth connectivity provide additional layers of data collection and analysis, contributing to business intelligence and predictive analytics.

Data security is ensured through robust network infrastructure and user interfaces, while mobile applications offer accessibility and convenience. Fleet management and shock resistance are essential features for industries with mobile assets, ensuring operational continuity and reducing downtime. API integrations and cellular networks facilitate seamless communication between systems, ensuring a cohesive and efficient workflow. In conclusion, the market is a vital component of modern business operations, offering numerous benefits across various industries. From manufacturing to logistics, the integration of tracking technologies has revolutionized the way businesses manage their operations, enhancing efficiency, productivity, and overall competitiveness.

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The Manufacturing segment was valued at USD 339.02 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 34% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America is experiencing significant growth, underpinned by advanced technological infrastructure, a robust logistics industry, and a focus on operational efficiency. Real-time monitoring and data analysis are becoming increasingly important for businesses in various sectors, particularly in industries with temperature-sensitive shipments, such as pharma and cold chain logistics. Wi-Fi connectivity, GPS tracking, and satellite navigation enable real-time location data, while sensor fusion and positioning algorithms ensure accurate tracking. Risk management is another key driver, with tamper detection and alerting systems providing peace of mind for businesses. Integration services, data processing, and data analytics enable seamless data flow between various systems, while cloud computing and mobile applications offer flexibility and accessibility.

Cost reduction and inventory management are also significant benefits, with predictive analytics and historical data enabling proactive decision-making. The market is further characterized by the adoption of IoT sensors, RFID tracking, and Bluetooth connectivity, as well as the integration of API integrations and cellular networks. Water resistance, shock resistance, and temperature tolerance ensure the durability and reliability of tracking devices. Overall, the North American market is shaping the future of the Tracking as a Service industry with its emphasis on innovation and efficiency.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

The global Tracking as a Service market is experiencing remarkable TaaS market growth, driven by evolving TaaS market trends towards enhanced visibility. Real-time tracking solutions and robust asset tracking software are pivotal, contributing significantly to the expanding TaaS market size. Fleet tracking systems are a cornerstone, ensuring operational efficiency for logistics providers.

The adoption of cloud-based tracking services and leveraging the power of IoT for tracking are transforming supply chains, offering comprehensive supply chain visibility platforms. The logistics and transportation TaaS segment is a major application area, alongside crucial e-commerce order tracking. The integration of AI in tracking and widespread RFID tracking solutions are driving innovation. Key regional contributors like the North America TaaS market and Asia-Pacific TaaS market show strong adoption, particularly among SMEs TaaS. Efficient inventory tracking solutions and reliable GPS tracking devices are ensuring enhanced supply chain transparency across industries.

What are the key market drivers leading to the rise in the adoption of Tracking as a Service Industry?

• The surge in demand for efficient fleet management solutions is the primary catalyst fueling market growth. 

• The market is witnessing notable growth due to the increasing demand for decision support and logistics optimization in various industries. Fleet management is a significant market segment, driving this trend, as companies seek to enhance operational efficiency. This involves monitoring and optimizing their fleet of vehicles through real-time tracking, fuel management, and maintenance scheduling. The advanced tracking solutions available in the market offer features like sensor fusion, satellite navigation, wi-fi connectivity, tamper detection, and risk management. These features contribute to power consumption and time optimization, making them indispensable for businesses.
• Furthermore, integration services ensure seamless implementation and maintenance of these systems. The focus on improving operational efficiency and reducing risks is a key factor fueling the growth of the market.

What are the market trends shaping the Tracking as a Service Industry?

• The increasing prevalence of Internet of Things (IoT) technology represents a significant market trend. This technological advancement is mandated by the growing demand for interconnected devices and systems.

• The market has witnessed significant growth due to the integration of Internet of Things (IoT) technology. IoT has revolutionized the way businesses manage and monitor their assets by enabling real-time data processing from interconnected devices. This real-time data analysis provides businesses with valuable insights for making informed decisions, enhancing operational efficiency, and improving overall performance. IoT connectivity allows businesses to monitor assets, vehicles, and inventory with near-real-time accuracy. For instance, logistics companies use IoT-enabled tracking solutions to monitor the position, temperature tolerance, and status of goods in transit. Real-time visibility enables proactive decision-making, minimizes delays, and optimizes supply chain performance.
• Network infrastructure and alerting systems are crucial components of IoT-enabled tracking solutions. These systems ensure secure data transmission and enable businesses to receive real-time alerts on any anomalies or issues. Cost reduction is another significant factor driving the adoption of tracking as a service solutions. By leveraging cloud-based platforms, businesses can reduce IT infrastructure costs and access historical data for business intelligence and predictive analytics. Mobile applications and GPS tracking are essential features of IoT-enabled tracking solutions. These features provide businesses with on-the-go access to real-time location data and enable remote monitoring and control of assets.
• Data security is a critical concern for businesses adopting tracking as a service solutions. IoT-enabled tracking providers implement robust security measures to ensure data privacy and confidentiality. In conclusion, IoT-enabled tracking as a service solutions offer businesses real-time visibility, improved operational efficiency, and cost savings. With the ability to monitor assets, vehicles, and inventory in real-time, businesses can make informed decisions, minimize delays, and optimize their supply chain performance.

What challenges does the Tracking as a Service Industry face during its growth?

• The expansion of the industry is being significantly influenced by the increasing privacy concerns and resulting regulations concerning GPS tracking. 

• In the business world, inventory management has become increasingly complex, necessitating advanced solutions for real-time tracking and supply chain visibility. Tracking as a Service (TaaS) has emerged as a popular option, leveraging cloud computing, wireless communication, and tracking devices to provide accurate and timely information. TaaS utilizes technologies such as RFID tracking, Bluetooth connectivity, and positioning algorithms to ensure inventory is accounted for and located efficiently. Data integration and reporting dashboards enable businesses to gain valuable insights, enhancing decision-making capabilities.
• TaaS solutions are designed to be water-resistant and offer real-time tracking, ensuring inventory remains secure and accessible. Privacy concerns have led to stringent regulations, such as the European Union's General Data Protection Regulation, which mandates explicit consent mechanisms, anonymization, and improved security measures. TaaS companies have responded by implementing robust security protocols and complying with these regulations to maintain trust and protect customer data.

Exclusive Customer Landscape

The tracking as a service market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the tracking as a service market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, tracking as a service market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

AssetTrackr Pvt Ltd. - Through AT&T Fleet Complete, our company provides real-time asset and vehicle tracking as a service. Utilizing GPS technology, fleet managers can monitor their entire fleet and resources on a map, ensuring optimal deployment of resources. This innovative solution empowers decision-making by enabling the assignment of the most suitable driver to each task.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• AssetTrackr Pvt Ltd.
• AT&T Intellectual Property
• CalAmp Corp.
• Dentsu Aegis Network
• Geotab Inc.
• Honeywell International Inc.
• Motorola Solutions Inc.
• Omnitracs, LLC
• Orbcomm Inc.
• Pointer Telocation Ltd.
• Samsara Inc.
• Sierra Wireless, Inc.
• Spire Global, Inc.
• Spider Tracks Limited
• Teletrac Navman (Fortress Investment Group)
• TomTom N.V.
• Trimble Inc.
• Verizon Communications Inc.
• Vodafone Group Plc
• Zonar Systems, Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Tracking As A Service Market

• In January 2024, GlobalNav Satellite Systems, a leading provider of Tracking as a Service (TaaS), announced the launch of its new Real-Time Asset Tracking solution, which utilizes IoT and satellite technology to offer accurate and reliable tracking for various industries, including logistics and transportation (GlobalNav press release).
• In March 2024, GeoTab, a prominent telematics provider, and Orbcomm, a global leader in Machine-to-Machine (M2M) and Internet of Things (IoT) solutions, entered into a strategic partnership to integrate GeoTab's telematics platform with Orbcomm's TaaS offering, expanding their combined market reach and enhancing their product offerings for fleet management (Orbcomm press release).
• In May 2024, Trimble, a technology provider transforming industries such as agriculture, construction, and transportation, raised USD500 million in a funding round to expand its TaaS offerings and accelerate the development of its Geospatial Cloud platform, aiming to strengthen its position in the market (Trimble press release).
• In February 2025, the European Union's European Global Navigation Satellite Systems Agency (GSA) granted approval to TrackStar, a TaaS provider, to use the European Global Navigation Satellite System (EGNOS) for its services, enabling TrackStar to expand its coverage and cater to a broader customer base across Europe (TrackStar press release).

Research Analyst Overview

• In the dynamic the market, various industries are leveraging advanced technologies to enhance their operations. Package tracking solutions employ data encryption for secure delivery, while precision farming utilizes satellite imagery and machine learning for optimized crop yields. Public safety agencies integrate pattern recognition and anomaly detection from aerial tracking for effective emergency response. Edge computing and star networks facilitate real-time data processing in industrial automation and smart cities. Blockchain technology ensures secure access control for personnel and livestock tracking.
• Environmental monitoring and security systems utilize sensor networks and deep learning for predictive maintenance and threat detection. Underwater tracking and equipment tracking applications employ AI and cellular IoT for optimized asset management. Route optimization and traffic analysis are critical components of smart agriculture and vehicle tracking systems. User roles and mesh networks enable seamless integration of various tracking solutions for enhanced efficiency and productivity.

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Tracking as a Service Market insights. See full methodology.

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What are the Key Data Covered in this Tracking as a Service Market Research and Growth Report?

• CAGR of the Tracking as a Service industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, APAC, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the tracking as a service market growth of industry companies

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