Tracking as a Service Market Report 2025

The tracking as a service market size has grown rapidly in recent years. It will grow from $4.48 billion in 2024 to $5.24 billion in 2025 at a compound annual growth rate (CAGR) of 16.9%. The growth during the historic period can be attributed to the rising demand for supply chain visibility, the increased adoption of fleet management solutions, stricter regulatory requirements for asset tracking, the expansion of e-commerce and retail logistics, and the growing reliance on third-party logistics providers.

The tracking as a service market size is expected to see rapid growth in the next few years. It will grow to $9.68 billion in 2029 at a compound annual growth rate (CAGR) of 16.6%. The growth anticipated in the forecast period can be attributed to the increasing integration of tracking services into smart city initiatives, the rising adoption of electric and autonomous vehicles that require monitoring, the expanding demand for real-time tracking in healthcare logistics, the growing focus on sustainability and carbon footprint management, and the heightened reliance on cross-border trade and compliance requirements. Key trends expected during this period include the advancing use of artificial intelligence for route optimization, the growing adoption of blockchain to secure tracking data, the increasing integration of edge computing for real-time processing, the wider use of low-power wide-area networks for cost-effective tracking, and the rising application of digital twins for logistics simulation.

The growth of e-commerce is expected to fuel the expansion of the tracking as a service market in the coming years. E-commerce, or electronic commerce, refers to the buying and selling of products and services through digital platforms such as online marketplaces, mobile applications, and business-to-consumer or business-to-business transactions conducted online. One of the main drivers of this growth is the increasing consumer demand for convenience, as digital platforms allow seamless product access, quicker purchasing, and flexible payment options, aligning with modern lifestyles while reducing the challenges of traditional retail. Tracking as a service plays a key role in supporting e-commerce by providing real-time visibility into order status and delivery, which improves customer satisfaction through accurate updates and quicker issue resolution. For example, in August 2025, the United States Census Bureau reported that total e-commerce sales reached an estimated $1.19 trillion in 2024, reflecting an 8.1% (±1.1) increase from 2023. E-commerce also accounted for 16.1% of total retail sales in 2024, up from 15.3% in the previous year. This highlights how the rise of e-commerce is contributing to the expansion of the tracking as a service market.

Companies operating in the tracking as a service market are introducing innovative solutions such as sensor-rich monitoring platforms to gain a competitive edge. A sensor-rich monitoring platform collects real-time data from connected devices and uses intelligent analysis to generate actionable insights. For instance, in January 2023, Sensata Technologies, a US-based industrial technology company, launched Sensata INSIGHTS, an advanced Internet of Things (IoT) platform that provides asset tracking, telematics, and analytics solutions aimed at improving operational visibility. The platform integrates proprietary hardware and software with artificial intelligence (AI) and machine learning to transform raw sensor data into high-quality intelligence. Sensata INSIGHTS delivers end-to-end visibility across the supply chain, including logistics, telematics, and construction site monitoring, offering deeper insights and more reliable data quality.

In April 2025, Kpler, a Belgium-based provider of data and analytics solutions for commodity markets, acquired Spire Maritime for an undisclosed sum. This acquisition was intended to enhance Kpler’s maritime tracking capabilities and expand its offerings in real-time vessel intelligence. Spire Maritime, based in the United States, provides satellite-powered vessel tracking and maritime data services, offering real-time AIS insights through its proprietary constellation of nanosatellites.

Major players in the tracking as a service market are Verizon Communications, AT&T Inc., Honeywell International Inc., Stanley Black And Decker Inc., Motorola Solutions, Rockwell Automation, PCCW Enterprises Limited, Zebra Technologies Corp, Trimble Inc., Infor, Geotab Inc., Samsara Inc., Mojix, Ituran Location and Control Ltd, Overhaul, Midmark Co., Impinj Inc, Powerfleet Inc, Blackline Safety Corp., Ezo, Micromain, Finale Inventory, and Sortly Inc.

North America was the largest region in the tracking as a service market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in tracking as a service report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the tracking as a service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The swift increase in U.S. tariffs and the ensuing trade tensions in spring 2025 are significantly affecting the transport services sector by driving up costs for vehicles, spare parts, and fuel, key inputs often sourced from tariff-affected regions. Freight operators, logistics providers, and public transportation systems are facing squeezed profit margins as higher equipment and maintenance costs coincide with limited ability to pass on these expenses to customers due to competitive pressures. The uncertainty has also delayed fleet modernization and the adoption of greener, more efficient vehicles, slowing progress toward sustainability goals. To adapt, transport firms are optimizing route planning, investing in fuel efficiency technologies, renegotiating supplier contracts, and exploring collaborative logistics models to share costs and mitigate the impact of higher tariffs.

Tracking as a Service (TaaS) is a cloud-delivered solution that allows businesses to track assets, shipments, or vehicles in real time without the need to invest in their own tracking infrastructure. It utilizes technologies such as GPS, IoT sensors, and analytics to deliver continuous location and status updates. Operated through subscription or pay-as-you-go models, it helps reduce upfront capital expenditure while offering scalability and flexibility.

The key components of Tracking as a Service are software and services. Software provides cloud-based platforms for real-time monitoring, data collection, and analysis of assets, vehicles, or personnel, delivering actionable insights without requiring on-premises systems. Deployment options include cloud and on-premise models, serving enterprises of all sizes, from large organizations to small and medium enterprises (SMEs). End-users span multiple industries, including transportation and logistics, manufacturing, healthcare, food and beverage, retail, IT and telecom, and others.

The tracking as a service market research report is one of a series of new reports that provides tracking as a service market statistics, including tracking as a service industry global market size, regional shares, competitors with a tracking as a service market share, detailed tracking as a service market segments, market trends and opportunities, and any further data you may need to thrive in the tracking as a service industry. This tracking as a service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The tracking as a service market includes revenues earned by entities by providing services such as real-time location monitoring, route optimization services, driver behavior tracking, remote asset tracking, supply chain visibility services, and geofencing alerts. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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