Asset Tracking Market Size, Share, Key Players & Forecast to 2022-2027
The latest research study "Asset Tracking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global asset tracking market reached US$ 13.28 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 29.93 Billion by 2027, exhibiting a growth rate (CAGR) of 13.30% during 2022-2027. Asset tracking refers to the process of tracking the physical assets of organizations by scanning barcode labels attached using a global positioning system (GPS) or radio-frequency identification (RFID). It provides real-time and accurate data for an efficient asset management system. Asset tracking aids in upgrading or replacing numerous assets while saving time and expenses. It offers several benefits, including centralizing data with asset management software, increasing value with asset utilization reports, improving asset lifecycle maintenance, achieving greater security for assets, strengthening asset