Global Asset Tracking and Inventory Management Solutions Market Overview:
Asset tracking and inventory management solutions are characterized as the assortment and support of precise records for fixed assets. In other words, it is a solution that is used to manage information such as personnel assignments, item quantities, and maintenance requirements. Assets tracking framework helps in tracking unique items while inventory tracking helps in tracking non-unique items of significant worth. Inventory management framework assists numerous business organizations to regulate stocks of expandable items across various environmental factors. These solution frameworks are probably going to influence supplier data. With a rise in the SME's demand for barcode systems to track assets, adoption & application of IoT and connected technologies for asset tracking and inventory management solution will help to boost the market.
Growth Drivers
- The rise in demand and requirement for tracking solutions in the retail industry across the globe
- Increase investment in tracking systems of different industries to manage their assets
Roadblocks
- The high initial cost of the tracking mechanism
- Increase in problems related to the security vulnerability
Opportunities
- Development of tracking and management solutions in emerging countries
- Decrease search time span for misplaced assets with the help of tracking solutions
Challenges
- High maintenance cost of bearing asset tracking and inventory management solution
- Prevention from the different cyber-attacks and conflicts
Competitive Landscape:
The leading players in the market continuously investing in research and development regarding asset tracking and inventory management solution and upgrade the technology. Also, organizations are making strategic partnerships and collaborations to expand the availability of the solutions and make easy-to-use tracking product solutions.
Some of the key players profiled in the report are Microsoft Corporation (United States), Oracle Corporation (United States), RedBeam, Inc. (United States), Wasp Barcode Technologies, Inc. (United States), Blue Yonder (United States), Lowry Solutions Inc. (United States), Zebra Technologies Corporation (United States), ASAP Systems (United States), Honeywell International Inc. (United States) and SAP SE (Germany). Additionally, following companies can also be profiled that are part of our coverage like Jolly Technologies Inc. (United States), Datalogic S.P.A. (Italy), EMS Barcode Solutions, LLC (United States), Epicor Software Corporation (United States), GigaTrak (United States), Windward Software (Canada) and Stanley Black & Decker, Inc. (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Asset Tracking and Inventory Management Solutions market by 2026. Considering Market by By End User, the sub-segment i.e. Transportation and Logistics will boost the Asset Tracking and Inventory Management Solutions market.
On 13 July 2021, Sierra Wireless, a world-leading IoT solutions provider, announced that its managed IoT solution, Acculink, has been successfully integrated with Microsoft Azure IoT Central which helps companies to track the location and condition of high-value and sensitive assets.
What Can be Explored with the Asset Tracking and Inventory Management Solutions Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Asset Tracking and Inventory Management Solutions Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Asset Tracking and Inventory Management Solutions
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Asset Tracking and Inventory Management Solutions market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Asset Tracking and Inventory Management Solutions market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Retail Sector, Supply Chain sector, Industrial Associations, Government Regulatory Bodies, IT Sector and Private Research Institutions.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.