Asset Tracking and Inventory Management Solutions Market – Snapshot

Inventory management systems help businesses to manage stocks of expendable substances across a variety of surroundings. Such solutions influences supplier data, such as materials cost and available supply of parts, as well as customer data like sales history, to help improve planning and forecasting for production and sales. The market for asset tracking and inventory management solutions is forecast to quickly grow to US$ 30.59 Bn by 2026 from US$ 10.73 Bn in 2017, recording a CAGR of 12.9%.

 

global asset tracking and inventory management solutions market

Asset tracking and inventory management solutions market has seen demand traction due to rising demand for asset tracking solutions from industries in Asia Pacific and the Middle East. There are various new entrants in India and China that are developing the related software for inventory management. Furthermore, asset tracking and inventory management solutions reduce operational cost of organizations by effective utilization of existing resources. Growth in demand for asset tracking solutions from industries in the retail sector is due to factors such as high return on investment, cost saving, and reduced search time in case of misplaced assets. Assets being delivered, in stock, expired and other details can be tracked through asset tracking systems. This is providing huge opportunity for asset tracking system providers to capture the e-commerce market.

Enterprises are adopting asset tracking and inventory management solutions in order to optimize product lifecycle management. As per TMR analysis, recent product launches and developments of key industry participants active in the asset tracking and inventory management solutions market reveals that industries such as retail, manufacturing, transportation and logistics, and manufacturing would continue to dominate the market throughout the forecast period. Asset tracking and inventory management systems are being widely used by industries to obtain real-time inventory data. Factors such as emergence  of IoT and connecting technologies such as predictive maintenance, augmented reality, and others is crucial in influencing market growth trends for asset tracking  and inventory management is different industry verticals. The asset tracking and inventory management solutions market still faces challenges such as high initial cost and security vulnerability which is expected to adversely affect further proliferation of systems.

Rising demand from Small and Medium Enterprises (SMEs) for barcode and RFID systems in order to track assets is anticipated to contribute significantly to market growth during the forecast period. Analyzing the regional level market, Europe has a high adoption rate of asset-tracking technologies because of the dominance of transportation, automotive, and aerospace industries in this region. Enterprises are emphasizing on adoption of solutions which are cost effective and enhance location granularity applications, thus allowing them to optimize their operations. Inventory management systems help businesses to manage stocks of expendable substances across a variety of surroundings. Manufacturers & distributors who implemented RFID technology into their supply chain have90% advancement in receiving time.

Enterprises are adopting asset tracking and inventory management solutions in order to increase revenue and to overcome the challenges concerning the loss faced due to the mismanaged inventories. Some of the prominent players identified in the asset tracking and inventory management solutions market and profiled in the study include ASAP Systems, Chekhra Business Solutions, Datalogic S.P.A., EMS Barcode Solutions, LLC, Epicor Software Corporation, GigaTrak, JDA Software, Lowry solutions Inc., Microsoft Corporation, Oracle Corporation, RedBeam, Inc., Honeywell International Inc., SAP SE, Stanley Black & Decker, Inc., Tenna, LLC, Trimble Inc., TVL, Inc. (WiseTrack), Ubisense Group PLC, Wasp Barcode Technologies, Inc., Zebra Technologies Corporation, Jolly Technologies, Brilliant Info Systems Pvt. Ltd. and Windward Software. Key players are adopting different strategies such as mergers and acquisitions, product launch, and R& D focus to enhance the customer base. For instance, in 2017, Jolly Technologies announced the public release of Version 8 of its product line including Lobby Track, ID Flow,Asset Track, Eventleaf Desktop, and Label Flow.

Asset Tracking and Inventory Management Solutions Market: Overview

This comprehensive report by Transparency Market Research analyzes and forecasts the asset tracking and inventory management solutions market at the global and regional level. The report provides an analysis over the period2016–2026, wherein2018 to 2026 is the forecast period and the base year is 2017. An in-depth and unbiased market assessment has been made to offer readers accurate analysis. The report emphasizes on all the major trends and services playing a key role in the growth of the asset tracking and inventory management solutions market during 2018 - 2026. It also focuses on restraining factors, market drivers and opportunities of the asset tracking and inventory management solutions market during the said period. The study provides a complete perspective about the market’s growth in terms of value (in US$ Bn)across various geographies, including Asia Pacific, South America, North America, Middle East & Africa (MEA) and Europe.

The report includes a detailed value chain analysis which offers a comprehensive view of the global asset tracking and inventory management solutions market. Porter’s Five Forces analysis is also provided to understand the competitive scenario in the market. The study incorporates market attractiveness analysis of the asset tracking and inventory management solutions, wherein the market segments, for instance component, application, and significant end-users are benchmarked based on their market size, growth rate and attractiveness in terms of opportunity. In order to providea complete analysis of the overall competitive scenario in the asset tracking and inventory management solutions market, every geographic region mentioned in the report is provided with attractiveness analysis.

A market overview chapter in the asset tracking and inventory management solutions market report explains the market trends and dynamics which include the restraining factors, drivers,and opportunities for the current and future asset tracking and inventory management solutions market. A market outlook analysis has also been provided in the report. Additionally, the reportprovides analysis of different business strategies being adopted by market leaders. Market introduction chapter assists in gaining an idea of different trends and solutions related toasset tracking and inventory management solutions along with their end-users and applications.

Global Asset Tracking and Inventory Management Solutions Market: Scope of the Report

The study provides a decisive view of the global asset tracking and inventory management solutions market, by segmenting the market based on component into hardware, software, and services. Hardware segment is further bifurcated into RFID readers, real-time location system (RTLS), barcode scanners, barcode printers, barcode stickers, RFID tags, and global positioning system (GPS). Software segment is further classified into on premise and cloud-based. Services segment is further bifurcated into consulting & training, implementation & integration, operation & maintenance. By application, the market has been classified into IT asset tracking, equipment tracking, facility management, tool tracking, funding management, mandate compliance, warehouse management and others. In terms of industry, the market is segmented into retail, BFSI, IT & telecom, healthcare, hospitality, transportation and logistics, chemical, energy & utilities, oil & gas, manufacturing, education, government and others (automotive, mining, and textile). The report provides a detailed breakdown of the asset tracking and inventory management solutions market region-wise and categorizes it at various levels, thus providing valuable insights at micro and macro levels.

The report highlights the competitive scenario within the market, thus ranking all the major players according to key recent developments and their geographic presence. The insights for the asset tracking and inventory management solutions market are the result of our extensive primary interviews, secondary research, and in-house expert panel reviews. These market estimates have been analyzed by considering the impact of different economic, political, social, legal, and technological factors.

On the basis of country, the North America market is bifurcated into Canada, the U.S., and Rest of North America. Furthermore, the Europe market is analyzed across France, Germany, U.K., and Rest of Europe. The APAC asset tracking and inventory management solutions market is also segmented at country level which includes China, Japan, India, and Rest of Asia Pacific. Middle East &Africa region covers the G.C.C. countries, South Africa and Rest of Middle East & Africa. Similarly, South America region includes Brazil and Rest of South America. This report provides all the strategic information required to understand the asset tracking and inventory management solutions market along with its components, applications, and end-users. The report also provides insights related to the components and different end-users according to the various geographical regions mentioned above.

Global Asset Tracking and Inventory Management Solutions Market: Research Methodology

The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Secondary sources such as annual reports, company websites, SEC filings and investor presentations, national government documents, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, statistical databases, World Bank database, and industry white papers are usually referred.

Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews on the asset tracking and inventory management solutions market, across geographies. Primary interviews are usually conducted on an ongoing basis with industry experts and participants in order to get latest market insights and validate the existing data and analysis. Primary interviews offer new and fresh information on important factors such as market trends, market size, competitive landscape, growth trends, etc. These factors help to validate and strengthen secondary research findings. Moreover, the data collected and analyzed from secondary and primary research is again discussed and examined by our expert panel.

Global Asset Tracking and Inventory Management Solutions Market: Competitive Dynamics

The research study includes profiles of leading companies operating in the global asset tracking and inventory management solutions market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Parameters such as investment & spending and developments by the major players of the market are tracked. Some of the key players in the asset tracking and inventory management solutions market are ASAP Systems, Chekhra Business Solutions, Datalogic S.P.A., EMS Barcode Solutions, LLC, Epicor Software Corporation, GigaTrak, Honeywell International Inc., JDA Software, Lowry Solutions Inc., Microsoft Corporation, Oracle Corporation, RedBeam, Inc., SAP SE, Stanley Black & Decker, Inc., Tenna, LLC, Trimble Inc., TVL, Inc. (WiseTrack), Ubisense Group PLC, Wasp Barcode Technologies, Inc., Zebra Technologies Corporation, Jolly Technologies, Brilliant Info Systems Pvt. Ltd. and Windward Software

The Asset Tracking and Inventory Management Solutions Market has been segmented as follows:

Global Asset Tracking and Inventory Management SolutionsMarket

By Component

  • Hardware
    • RFID Readers
    • Real-Time Location
    • System (RTLS)
    • Barcode Scanners
    • Barcode Printers
    • Barcode Stickers
    • RFID Tags
    • Global Positioning System (GPS)
  • Software
    • On-premise
    • Cloud-based
  • Services
    • Consulting & Training
    • Implementation & Integration
    • Operation & Maintenance

By Application

  • IT Asset Tracking
  • Equipment Tracking
  • Facility Management
  • Tool Tracking
  • Funding Management
  • Mandate Compliance
  • Warehouse Management
  • Others

By Industry

  • Retail
  • BFSI
  • IT & Telecom
  • Healthcare
  • Hospitality
  • Transportation and Logistics
  • Chemical
  • Energy & Utilities
  • Oil & Gas
  • Manufacturing
  • Education
  • Government
  • Others (Automotive, Mining, and Textile)

By Geography

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • U.S.
  • Europe
    • Germany
    • The U.K.
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Middle East &Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Rest of South America
.