Dublin, March 20, 2024 (GLOBE NEWSWIRE) -- The "Tracking as a Service Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The study forecasts a stellar growth trajectory for the TaaS market, with a compound annual growth rate (CAGR) of 18.97% from 2024 to 2029. The report provides an in-depth analysis of market dynamics, segmentation, and the competitive landscape.
With an ever-increasing need for real-time asset tracking and management, industries across the globe are rapidly adopting TaaS solutions. The report identifies logistics and supply chain management as prime sectors for TaaS application, pinpointing the demand for operational efficiency, security, and safety as key drivers for market growth.
Market Growth Driven by Technological and Sector-Specific Drivers
- Rising Security Needs and Privacy Concerns: Organizations are seeking secure TaaS solutions that protect sensitive data and prevent unauthorized access, stimulating market expansion.
- Transportation and Logistics Sector: TaaS market growth is significantly driven by advancements in fleet management and the need for real-time vehicle tracking within this sector.
- Real-time Visibility and Control: Businesses require transparent operation processes with real-time monitoring capabilities, pushing the TaaS market forward.
- Supply Chain Operation Optimization: TaaS technology is crucial for monitoring the supply chain and ensuring seamless operations, compliance, and risk mitigation.
The study segments the TaaS market by component, enterprise size, software deployment type, end-users, and geography. The cloud deployment model is particularly anticipated to witness robust growth, offering scalable solutions for small and large enterprises alike.
The North American TaaS market emerges as a clear frontrunner, bolstered by technological sophistication and strategic business initiatives. However, regions like the Asia Pacific can be seen rapidly catching up, with countries like India and China leading the way in technology adoption and market potential.
The research also sheds light on recent market developments, such as the launch of innovative TaaS platforms that enable businesses to expand their reach across global markets with newfound ease and efficiency.
Segment Analysis
The segmentation analysis in the report provides insights into the TaaS market across different sectors, ensuring depth and comprehensiveness of the data:
- By Component: Software and Services
- By Enterprise Size: Large Enterprises and Small & Medium Enterprises
- By Deployment Type: Cloud and On-premises
- By End Users: Transportation & Logistics, Manufacturing, Healthcare, and others
Companies Mentioned
- Sortly
- EZO
- Finale Inventory
- Infor
- Midmark Co.
- Mojix
- PCCW Solutions
- Trimble Inc.
For more information about this report visit https://www.researchandmarkets.com/r/u04fpi
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