IoT Based Asset Tracking And Monitoring Market Overview

IoT Based Asset Tracking And Monitoring Market Size and Share

IoT Based Asset Tracking And Monitoring Market Segmentation

The Business Research Company's IoT Asset Tracking & Monitoring Market to Grow Steadily at 10.6% CAGR Through 2030

LONDON, GREATER LONDON, UNITED KINGDOM, June 21, 2026 /EINPresswire.com/ -- "Internet Of Things (IoT) Based Asset Tracking And Monitoring market to surpass $9 billion in 2030. In comparison, the IoT Services market, which is considered as its parent market, is expected to be approximately $646 billion by 2030, with Internet Of Things (IoT) Based Asset Tracking And Monitoring to represent around 1% of the parent market. Within the broader Information Technology industry, which is expected to be $13,788 billion by 2030, the Internet Of Things (IoT) Based Asset Tracking And Monitoring market is estimated to account for nearly 0.1% of the total market value.

Which Will Be The Biggest Region In The Internet Of Things (IoT) Based Asset Tracking And Monitoring Market In 2030?
Asia-Pacific will be the largest region in the internet of things (IoT) based asset tracking and monitoring market in 2030, valued at $3.3 billion. The market is expected to grow from $1.7 billion in 2025 at a compound annual growth rate (CAGR) of 13%. The rapid growth can be attributed to rapid expansion of manufacturing, logistics, and transportation industries, increasing adoption of smart supply chain and fleet management solutions, strong government initiatives supporting digital transformation and Industry 4.0 adoption, rising investments in IoT infrastructure and connectivity technologies, growing demand for real-time asset visibility and operational efficiency, and strong presence of emerging technology providers across countries such as China, India, Japan, and Southeast Asia.

Which Will Be The Largest Country In The Global Internet Of Things (IoT) Based Asset Tracking And Monitoring Market In 2030?
The USA will be the largest country in the internet of things (IoT) based asset tracking and monitoring market in 2030, valued at $2.5 billion. The market is expected to grow from $1.7 billion in 2025 at a compound annual growth rate (CAGR) of 8%. The strong growth can be attributed to increasing adoption of IoT-enabled logistics and supply chain management solutions across industries, rising demand for real-time asset visibility and operational efficiency, strong expansion of manufacturing, transportation, and warehousing industries, growing investments in digital transformation and Industry 4.0 technologies, increasing use of connected sensors and cloud-based monitoring platforms, and strong presence of leading IoT solution providers across the country.

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What Will Be Largest Segment In The Internet Of Things (IoT) Based Asset Tracking And Monitoring Market In 2030?
The internet of things (IoT) based asset tracking and monitoring market is segmented by component into hardware, software, and connectivity. The hardware market will be the largest segment of the internet of things (IoT) based asset tracking and monitoring market segmented by component, accounting for 48% or $4 billion of the total in 2030. The hardware market will be supported by the increasing deployment of IoT sensors, RFID tags, GPS devices, and tracking modules across industries, rising demand for real-time asset visibility and monitoring, expansion of connected logistics and supply chain infrastructure, growing adoption of smart manufacturing and industrial automation systems, advancements in low-power and high-performance tracking devices, and strong integration of hardware solutions with cloud and edge computing platforms.

The internet of things (IoT) based asset tracking and monitoring market is segmented by technology into radio-frequency identification (RFID), global positioning system (GPS)/global navigation satellite system (GNSS), low-power wide-area network (LPWAN), cellular network, Wi-Fi and bluetooth, and satellite communication.

The internet of things (IoT) based asset tracking and monitoring market is segmented by application into real-time location tracking, condition monitoring, predictive maintenance, theft prevention and security, inventory management, fleet management, and cold chain monitoring.

What Is The Expected CAGR For The Internet Of Things (IoT) Based Asset Tracking And Monitoring Market Leading Up To 2030?
The expected CAGR for the internet of things (IoT) based asset tracking and monitoring market leading up to 2030 is 11%.

What Will Be The Growth Driving Factors In The Global Internet Of Things (IoT) Based Asset Tracking And Monitoring Market In The Forecast Period?
The rapid growth of the global internet of things (IoT) based asset tracking and monitoring market leading up to 2030 will be driven by the following key factors that are expected to accelerate adoption of IoT-based tracking solutions, increase deployment of RFID and GPS-enabled IoT technologies, and strengthen demand for supply chain optimization across logistics and industrial operations.

Increasing Adoption Of IoT-Based Tracking Solutions - The increasing adoption of IoT-based tracking solutions is expected to become a key growth driver for the internet of things (IoT) based asset tracking and monitoring market by 2030. Organizations are rapidly integrating IoT sensors and connected platforms to continuously monitor location, condition, and movement of equipment. This reduces manual tracking errors and improves operational efficiency across logistics, manufacturing, and transportation sectors. The growing reliance on connected ecosystems also supports predictive maintenance and faster decision-making. As enterprises aim for greater automation and digital transformation, IoT-based tracking becomes essential for end-to-end asset control. This trend significantly boosts demand for both hardware devices and cloud-based monitoring platforms. As a result, the increasing adoption of IoT-based tracking solutions is anticipated to contribute to 2.2% annual growth in the market.

Rising Adoption Of RFID And GPS-Enabled IoT Solutions - The rising adoption of RFID and GPS-enabled IoT solutions is expected to emerge as a major factor driving the expansion of the internet of things (IoT) based asset tracking and monitoring market by 2030. Rising Adoption Of RFID And GPS-Enabled IoT Solutions drives the market by improving the precision and reliability of asset identification and location tracking. RFID technology enables efficient tagging and scanning of assets, while GPS provides real-time geolocation tracking over large geographical areas. The combination of these technologies enhances supply chain visibility and reduces asset theft, misplacement, and operational delays. Industries such as logistics, retail, and transportation increasingly depend on these solutions to streamline inventory management and fleet operations. Their integration with IoT platforms allows seamless data collection and analysis for better asset utilization. This also supports automation in tracking processes, reducing dependency on manual intervention. Consequently, the rising adoption of RFID and GPS-enabled IoT solutions is projected to contribute to around 2.0% annual growth in the market.

Growing Need For Supply Chain Optimization - The growing need for supply chain optimization is expected to act as a key growth catalyst for the internet of things (IoT) based asset tracking and monitoring market by 2030. Growing need for supply chain optimization acts as a strong driver by pushing organizations to improve efficiency, reduce costs, and enhance transparency in logistics operations. IoT-based asset tracking enables real-time monitoring of goods, vehicles, and equipment throughout the supply chain lifecycle. This helps businesses identify bottlenecks, minimize delays, and optimize route planning for faster deliveries. It also enhances inventory accuracy and reduces losses due to mismanagement or theft. Companies are increasingly adopting digital supply chain solutions to meet rising customer expectations for timely and reliable services. IoT integration further supports data-driven decision-making and predictive logistics planning. Overall, this demand for optimized supply chains significantly accelerates the adoption of asset tracking and monitoring solutions. Therefore, the growing need for supply chain optimization is projected to contribute to approximately 1.9% annual growth in the market.

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What Are The Key Growth Opportunities In The Internet Of Things (IoT) Based Asset Tracking And Monitoring Market In 2030?
The most significant growth opportunities are anticipated in the hardware market, the software market, and the connectivity market. Collectively, these segments are projected to contribute over $4 billion in market value by 2030, driven by increasing adoption of IoT-enabled tracking devices and sensors, rising demand for real-time asset visibility and predictive analytics, expansion of connected supply chain and logistics ecosystems, advancements in cloud computing, edge computing, and data analytics platforms, growing deployment of 5G and low-power wide-area network (LPWAN) technologies, and strong integration of IoT solutions across manufacturing, transportation, and warehousing sectors. This surge reflects the accelerating focus on improving operational efficiency, enhancing asset utilization, and enabling intelligent decision-making through connected systems, fuelling transformative growth within the broader connected asset management industry.

The hardware market is projected to grow by $2 billion, the software market by $1 billion, and the connectivity market by $1 billion over the next five years from 2025 to 2030.

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