Connect with us

Hi, what are you looking for?

Editor's Pick

The number of active consumer asset tracking devices in Europe and North America reached 12.5 million at the end of 2022

According to a new research report from the IoT analyst firm Berg Insight, the number of active consumer asset tracking devices in Europe and North America reached 12.5 million at the end of 2022.

Growing at a CAGR of 18.4 percent the number of units in active use is estimated to reach 29.2 million units by the end of 2027. The market value is during the same period forecasted to grow from € 1.6 billion in 2022 to € 3.8 billion in 2027.

Consumer asset tracking solutions utilizing wireless wide area networks such as cellular, satellite, LoRa or Sigfox can be divided into four main categories based on asset type – family and child tracking, pet tracking, vehicle tracking and general asset tracking. The vehicle category can be further divided into cars; motorcycles and mopeds; bicycles; caravans and motor caravans; leisure boats; and other consumer vehicles including ATVs and snowmobiles. The general asset tracking segment includes any type of asset, such as bags and luggage, keys, wallets, clothes, electronics, tools and sports equipment.

Leading providers of family and child tracking products and services include Smartcom Mobility Solutions, Smith Micro Software, Life360, Xplora Technologies and Verizon. The pet tracking market is dominated by Tractive, Fi, Whistle and Halo. The market for aftermarket car telematics solutions sold to consumers is led by Verizon, Mojio, Tail Light and Agnik in North America and Haysquare, Net4Things and the Plan B Company in Europe. Leading providers of GPS tracking and vehicle recovery solutions for motorcycles and mopeds in Europe include Datatool (Scorpion Automotive), Mapit IoT, Monimoto and GeoRide. A few companies provide tracking solutions developed specifically for leisure boats, including Sensar Marine, Sentinel Marine Solutions, Sailsense Analytics, Vetel and Siren Marine. The market for GPS trackers for electric bicycles is growing rapidly. The market is today led by European companies such as IoT Venture, PowUnity, Haveltec, BikeFinder and Tracefy. Trackimo, Invoxia, LandAirSea are leading providers of general-purpose tracking devices.

“The demand for consumer asset tracking solutions is growing across all segments”, says Martin Backman, Principal Analyst at Berg Insight. The market is still in an early phase and many solution providers are still searching for the right business model and pricing model. Very few companies have emerged as clear market leaders in specific asset tracking market segments in Europe or North America. Most companies are still mainly serving the domestic market or nearby countries.

“Technological advancements in battery capacity, processor power and network technology will continuously enable better solutions at lower price points”, continues Mr. Backman. This will make the solutions even more attractive to consumers and create a higher demand.

Download report brochure: Consumer Asset Tracking Solutions

The post The number of active consumer asset tracking devices in Europe and North America reached 12.5 million at the end of 2022 appeared first on IoT Business News.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Investing

    Understanding Modified Adjusted Gross Income It’s true that you won’t find your modified adjusted gross income listed on your Form 1040, but that doesn’t...

    Investing

    Tax Day, or the deadline for filing your 2022 federal income tax return, falls on April 18, 2023. But what happens if you are...

    Investing

    As a parent, grandparent, guardian, or even an aunt or uncle, you want the best for the children you love and take care of....

    Investing

    Each quarter, our investment team comments on the markets and economy over the past quarter and looks forward at what the next period might...

    Disclaimer: Dealwithbiz.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2023 Dealwithbiz.com