Mobile Tracking Solution Market Size & Share, by Technology (GPS, RFID and Others); Application (Goods & Services, People, Livestock and Others) and by End User (Transportation & Logistics, Construction & Manufacturing, Aviation, Retail, Government, E-commerce) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 746
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Mobile Tracking Solution Market size was valued at USD 116.08 billion in 2023 and is poised to exceed USD 1.45 trillion by the end of 2036, expanding at over 21.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of mobile tracking solution is evaluated at USD 136.05 billion.

The mobile tracking solution market have various applications in this everyday growing digital world. These solutions have wide application in industries such as healthcare, for tracing medical equipment and supplies, along with other industries, such as logistics and shipping, for container tracking, and in particular, the defense industry, for careful and 24x7 tracking of components. Mobile tracking solutions play an important part in ensuring national security. The need of mobile tracking solution for contact tracing the COVID-19 victims and subsequently monitoring everyone those who are affected, is anticipated to drive the global mobile tracking solution market. The market is further anticipated to grow on the backhand of growth in the industries of FMCG, retail, e-commerce and others. in emerging economies.


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Mobile Tracking Solution Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Incidences of COVID-19 Pandemic
    The pandemic that the world is not prepared is fundamentally going to change our way of living. The constant fear of us getting affected by the COVID-19 disease is going to haunt us for a while. To curb the spread of the disease, the government of nations across the world decided to develop mobile tracking applications in partnership with private entities which offer mobile tracking solutions. The regulatory bodies have also made it mandatory to install the application so as to track the infected people and their families. The fear for such critical diseases and the concern for the probable pandemic instances are some of the factors anticipated to drive the growth of the global mobile tracking solution market.
  • IoT Devices are on the Rise
    The Internet of things device sales are increasing enormously, and according to the World Bank, it is estimated that around 41 billion IoT devices will be sold by 2027. These devices are known for its multipurpose function and are being utilized widely in household, healthcare, and manufacturing and others. It is predicted that over 80% of industrial manufacturing companies are using or planning to use Industrial IoT devices. These devices are equipped with tracking sensors, which is going to help businesses for 24x7 monitoring of its goods and services. Such factors are anticipated to drive the growth of the global mobile tracking solution market.

Challenges

  • High Costs and Infrastructure Challenges
    The potential factor that can affect the market of the mobile tracking solution market is its price. Designing tracking solutions involves development of complex algorithms and infrastructure to support them, which does not come at a cheaper price. The SMEs and other small-scale businesses do not have the financial capability to neither develop nor purchase the services. On the other hand, developing economies, who are lacking both in infrastructure and capital, is also anticipated to provide a negative influence on the growth of the global mobile tracking solution market.
  • Security Risks/Cyber Threats
    In this globalized and digital world, protecting the company’s IP (Intellectual Property) not just from competitors but potential hackers, is of the highest concern. So, the companies are shying away from adopting these new technologies, which is anticipated to lower the market growth during the forecast period.

Mobile Tracking Solution Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

21.5%

Base Year Market Size (2023)

USD 116.08 billion

Forecast Year Market Size (2036)

USD 1.45 trillion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Mobile Tracking Solution Segmentation

The global mobile tracking solution market is segmented by end user into transportation & logistics, construction & manufacturing, aviation, retail, government, e-commerce, and others. Among these segments, the transportation & logistics segment is anticipated to hold the largest market share during the forecast period, owing to the presence of numerous vehicular fleets around the globe. According to the statistics by the Bureau of Transportation Statistics (BTS), the total number of automobiles and trucks in fleets recorded in the year 2019 in the United States was 8140 thousand. The organizations operating in the transportation & logistics industry need to monitor their vehicles regularly for increasing their process efficiency. As a result, mobile tracking solutions plays a very important role in the transportation and logistics industry, which is anticipated to drive the growth of the segment. 

Our in-depth analysis of the global market includes the following segments

By Technology

  • GPS
  • RFID
  • Others

By Application

  • Goods and Services
  • People
  • Livestock
  • Others

By End user

  • Transportation & Logistics
  • Construction and Manufacturing
  • Aviation
  • Retail
  • Government
  • E-commerce
  • Others

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Mobile Tracking Solution Industry - Regional Synopsis

North America Market Statistics

On the basis of regional analysis, the mobile tracking solution market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

North America industry is predicted to account for largest revenue share by 2036, on account of growing requirements for continuously improving the operation efficiency of businesses in the region. Moreover, the growing requirements for continuously improving the operation efficiency of businesses in this region is further anticipated to increase the product demand.

APAC Market Analysis

On the other hand, the market in Asia Pacific region is predicted to grow at the highest rate during the forecast period as a result of growth in digitalization, number of internet users, demand for analytics and tracking solutions in the region, particularly in countries such as China, India and Japan where the number of internet users and IoT devices is anticipated to grow remarkably.

Research Nester
Mobile-Tracking-Solution-Market Share
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Companies Dominating the Mobile Tracking Solution Landscape

    • ORBCOMM
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Verizon
    • AT&T Inc.
    • Wasp Barcode Technologies
    • Spireon, Inc.
    • NFC Group
    • Letstrack Limited
    • Bosch Connected Devices and Solutions GmbH
    • Geotab Inc.
    • Vix Technology

In the News

  • On April 2, 2020, the Indian Govt. made a press release stating the launch of “AarogyaSetu” mobile app, which is the official COVID-19 tracker app in India.

Author Credits:  Abhishek Verma


  • Report ID: 746
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT
Mobile Tracking Solution Market Report Scope
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