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IoT Based Asset Tracking And Monitoring Market Value Analysis: What Growth Is Expected Over The Forecast Period?
The iot based asset tracking and monitoring market has seen substantial growth in recent years. It is forecast to expand from $5.52 billion in 2025 to $6.3 billion in 2026, achieving a compound annual growth rate (CAGR) of 14.3%. The historic period’s expansion was driven by increasing logistics and supply chain digitization, a rising requirement for asset visibility, the spread of manufacturing automation, greater needs in cold chain monitoring, and the adoption of gps-based tracking technologies.
The iot based asset tracking and monitoring market is projected to experience substantial expansion in the coming years. This market is set to reach $10.75 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.3%. Several factors contribute to this anticipated growth, including escalating investments in comprehensive supply chain visibility, the growing use of AI-powered tracking analytics, the development of intelligent transportation networks, a heightened need for immediate asset insights, and greater integration with existing enterprise solutions. Key trends for the forecast period encompass a broader embrace of real-time asset tracking platforms, the increasing implementation of multi-connectivity tracking devices, wider application of location analytics for optimizing asset usage, the proliferation of cloud-based asset monitoring solutions, and an intensified emphasis on preventing loss.
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IoT Based Asset Tracking And Monitoring Market Growth Drivers: What Factors Are Accelerating Expansion?
The expanding e-commerce sector’s increasing appeal is projected to fuel the advancement of the IoT based asset tracking and monitoring market in the coming years. Electronic commerce, commonly known as e-commerce, encompasses the transaction of goods and services, alongside the transfer of funds or information, across digital networks. E-commerce operations necessitate the movement of vast quantities of merchandise through intricate supply chains. Accurate, real-time insights derived from IoT-based asset tracking and monitoring enable e-commerce enterprises to satisfy consumer demands and optimize their logistical processes. For example, the United States Census Bureau reported in February 2025 that total e-commerce sales for 2024 amounted to $1,192.6 billion, representing an 8.1% rise from 2023. Consequently, the escalating popularity of the thriving e-commerce industry is propelling the expansion of the IoT based asset tracking and monitoring market.
IoT Based Asset Tracking And Monitoring Market Segment Analysis And Revenue Opportunities
The iot based asset tracking and monitoring market covered in this report is segmented –
1) By Component: Hardware, Software, Connectivity
2) By Technology: Radio-Frequency Identification (RFID), Global Positioning System (GPS)/Global Navigation Satellite System (GNSS), Low-Power Wide-Area Network (LPWAN), Cellular Network, Wi-Fi And Bluetooth, Satellite Communication
3) By Application: Real-Time Location Tracking, Condition Monitoring, Predictive Maintenance, Theft Prevention And Security, Inventory Management, Fleet Management, Cold Chain Monitoring
Subsegments:
1) By Hardware: Global Positioning System (GPS) Trackers, Radio-Frequency Identification (RFID) Tags, Sensors And Monitoring Devices, Gateway Devices
2) By Software: Asset Management Software, Data Analytics And Visualization Software, Real-Time Monitoring Platforms, Mobile And Web Applications
3) By Connectivity: Cellular Connectivity (4G Or 5G), Low-Power Wide-Area Network (LPWAN), Wi-Fi Connectivity, Bluetooth And Bluetooth Low Energy (BLE)
IoT Based Asset Tracking And Monitoring Market Industry Trends Shaping Future Revenue Growth
Leading companies in the IoT-based asset tracking and monitoring market are concentrating on strategic alliances with significant manufacturing enterprises to enhance their market position. Such collaborations empower businesses to establish partnerships with other firms possessing the necessary expertise to transform their conceptual ideas into tangible products. For instance, in June 2023, Qualcomm Technologies, Inc., a US-based fabless semiconductor company, in conjunction with Skylo Technologies, Inc., a US-based non-terrestrial network (NTN) provider, introduced two modem chipsets featuring satellite capabilities: the Qualcomm 212S Modem and the Qualcomm 9205S Modem. These new Qualcomm modem chipsets enable IoT enterprises, developers, original equipment manufacturers (OEMs), and manufacturers to harness real-time data and insights for managing business projects. They also support industrial applications in off-grid environments that demand either standalone non-terrestrial network (NTN) connectivity or hybrid connectivity alongside existing terrestrial networks.
IoT Based Asset Tracking And Monitoring Market Leading Players Shaping Industry Direction
Major companies operating in the iot based asset tracking and monitoring market are Quectel Wireless Solution Co. Ltd.; Fibocom Wireless Inc.; Sierra Wireless Inc.; Telit Corporate Group; u-blox AG; Sequans Communications S.A.; Nordic Semiconductor ASA; GosuncnWelink Corporation; Laird Connectivity LLC; Thales Group; Semtech Corporation; Mediatek Inc.; Analog Devices Inc.; HiSilicon Technologies Co. Ltd.; Skyworks Solutions Inc.; MeiG Smart Technology Co. Ltd.; NXP Semiconductors N.V.; Infineon Technologies India Private Ltd; STMicroelectronics N.V.; Texas Instruments Incorporated; Samsung Electronics Co. Ltd.; Renesas Electronics Corporation; Panasonic Holdings Corporation; Toshiba Corporation
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IoT Based Asset Tracking And Monitoring Market Global Footprint: Which Region Holds Market Leadership?
North America was the largest region in the IoT-based asset tracking and monitoring market share in 2025. The regions covered in the iot based asset tracking and monitoring market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.