Tracking-as-a-Service Market Report and Forecast 2025-2034

The global tracking-as-a-service market size reached approximately USD 2.02 Billion in 2024. The market is further projected to grow at a CAGR of 17.60% between 2025 and 2034, reaching a value of USD 10.22 Billion by 2034.

Key Trends in the Market

Tracking-as-a-service refers to a cloud-based technology that is used by logistic and supply chain industries for managing and tracking assets, vehicles, and inventories. These services offer improved operational efficiency, real-time monitoring, and data driven insights to different sectors and empowers enterprises to optimise resource utilisation.

• Increasing investments in the logistics sector and vehicle tracking and asset management owing to the expansion of the e-commerce sector is aiding the tracking-as-a-service market growth. Such investments are increasing as these services allow the businesses to boost brand visibility and enhance delivery operations.
• The evolution of 5G technology is providing lucrative growth opportunities to the market as they allow the amplification of connectivity reliability, reduce latency, and elevate speed for transfer of data, among others, bolstering the functionality of tracking systems.
• The rising adoption by healthcare and agriculture sectors are aiding the market expansion. In agriculture, the services allow farmers and agriculturists to monitor the crops and optimise resource utilisation. In healthcare, the services are used for tracking assets and monitoring patients.

Global Tracking-as-a-Service Market Analysis

The report titled “Tracking-as-a-Service Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Component

• Software
• Services

Market Breakup by Enterprise Size

• Large Enterprises
• Small and Medium Enterprises

Market Breakup by Asset Type

• Electronics and IT Assets
• In-Transit Equipment
• Manufacturing Assets
• Others

Market Breakup by Industry Vertical

• Transportation and Logistics
• Manufacturing
• Healthcare
• Food and Beverage
• Retail
• IT and Telecom
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Share by Asset Type

Manufacturing assets are expected to account for a significant tracking-as-a-service market share over the forecast period. This growth can be attributed to the rising requirement for optimisation of resource allocation, streamlining of supply chain operations, and minimisation of downtime through predictive maintenance from the manufacturing sector. The utilisation of tracking services and technologies allows manufacturers to ensure product quality and enhance data driven decision making.

Market Share by Region

North America accounts for a significant share of the market owing to the strong presence of major market players including Honeywell International Inc. and AT&T Inc., among others. The presence of technologically advanced infrastructure across North America is also supporting the market expansion in the region. The rising requirement for data analysis and real time tracking is further bolstering the tracking-as-a-service market demand.

Competitive Landscape

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

Honeywell International Inc.

Honeywell International Inc., headquartered in North Carolina, United States, is an appliance, electrical, and electronics manufacturing company that was founded in 1906. The company also provides tracking-as-a-service.

Lenovo PCCW Solutions Limited

Lenovo PCCW Solutions Limited is an IT services and IT consulting company that was founded in 2000 and is headquartered in Hong Kong, China. The company is known for providing market leading solutions to organisations to enhance their innovations and transform operations.

AT&T Inc.

AT&T Inc., headquartered in Texas, United States, is a telecommunications company that specialises in wireless services, enterprise applications and managed hosting solutions, U-Verse, and tracking-as-a-service, among others.

Other tracking-as-a-service market key players include Zebra Technologies Corporation, EZ Web Enterprise, Inc., Geotab Inc., Spider Tracks Ltd., Sortly Inc., JDM Technology Group (MicroMain Corp.), and Dentsu International, among others.