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    US Asset Tracking Software Market

    ID: MRFR/ICT/17152-HCR
    100 Pages
    Garvit Vyas
    September 2025

    US Asset Tracking Software Market Research Report: By Component (Software, Service), By Deployment (Cloud, On-Premise), By Organization size (SMEs, Large Enterprises) and By Vertical (BFSI, Retail, Government, Automotive, Manufacturing) - Forecast to 2035

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    Table of Contents

    US Asset Tracking Software Market Summary

    The US Asset Tracking Software market is projected to grow significantly from 5.1 USD Billion in 2024 to 16.5 USD Billion by 2035.

    Key Market Trends & Highlights

    US Asset Tracking Software Key Trends and Highlights

    • The market is expected to experience a compound annual growth rate (CAGR) of 11.26% from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 16.5 USD Billion, indicating robust growth potential.
    • In 2024, the market is valued at 5.1 USD Billion, reflecting a strong foundation for future expansion.
    • Growing adoption of asset tracking technology due to increased demand for operational efficiency is a major market driver.

    Market Size & Forecast

    2024 Market Size 5.1 (USD Billion)
    2035 Market Size 16.5 (USD Billion)
    CAGR (2025-2035) 11.26%

    Major Players

    SAP, Sierra Wireless, Oracle, FleetOps, TrackForce, Savi Technology, IBM, Trimble, PeopleNet, Fleet Complete, Zebra Technologies, GPS Insight, RFID Solutions, Honeywell, Asset Panda

    US Asset Tracking Software Market Trends

    The US Asset Tracking Software Market is witnessing significant growth driven by the increasing demand for real-time visibility of assets across various industries. Key market drivers include the need for enhanced asset utilization and operational efficiency, which are crucial in sectors such as manufacturing, logistics, and healthcare. As companies face the challenges of supply chain disruptions, implementing asset tracking solutions has become essential to mitigate risks associated with asset losses or mismanagement. Additionally, regulatory compliance and the pressure to maintain accurate reporting in industries like pharmaceuticals and food services are also pushing organizations to adopt advanced tracking systems.

    Opportunities within the market can be captured by leveraging emerging technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI), which are transforming asset tracking capabilities. The integration of these technologies allows for more precise data analytics and predictive maintenance, eventually leading to reduced operational costs. Furthermore, small and medium-sized enterprises are beginning to adopt asset tracking software, expanding the potential user base and opening avenues for software providers to develop tailored solutions.

    Trends in recent times highlight the strong focus on cloud-based asset tracking solutions, providing businesses with scalable and flexible options to manage their assets effectively.The growing concerns around cybersecurity are also prompting vendors to innovate with secure platforms that protect sensitive data related to asset tracking. As organizations increasingly recognize the benefits of asset tracking software in optimizing resource allocation and improving decision-making, the demand for comprehensive, user-friendly software solutions is expected to rise, emphasizing the innovative capabilities of vendors in the US market.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    US Asset Tracking Software Market Drivers

    Market Segment Insights

    Asset Tracking Software Market Component Insights

    The US Asset Tracking Software Market is evolving with its Component segment playing a critical role in shaping the industry landscape. This segment can be divided into two primary categories: Software and Service. The Software aspect is foundational; it encompasses various applications that enhance visibility and reporting capabilities for asset management across sectors such as logistics, manufacturing, and retail. As organizations in the US increasingly prioritize real-time tracking and management of their assets, the demand for advanced software solutions has grown significantly, driving innovations in the sector.

    Meanwhile, the Service component is essential for ensuring seamless integration, support, and maintenance of these software solutions, providing users with training and ongoing assistance, thus enhancing operational efficiency. The rise in Internet of Things (IoT) technologies has also buoyed the Asset Tracking Software Market, as these solutions leverage data collected from connected devices to provide insights that optimize asset utilization and reduce operational costs.

    Furthermore, the Service aspect is becoming indispensable as organizations look to harness the full potential of their asset tracking software, leading to an increased focus on customer support and consultancy to improve user experience and return on investment. The growth of e-commerce has also stimulated interest in comprehensive asset tracking solutions, with many retailers seeking to bolster their operational backbone to manage increasing inventory levels more effectively. Challenges such as data security concerns and the complexity of integrating new systems into existing infrastructures prevail in the market, yet they also present opportunities for innovative solutions.

    Organizations are keen to invest in software that promises enhanced security features and greater interoperability, thus paving the way for a more cohesive asset management environment. Ultimately, the Component segment of the US Asset Tracking Software Market is vital as it not only supports current operational needs but also adapts to changing technological landscapes and user demands. With an increasing focus on digital transformation and data analytics, the potential for growth within Software and Service components remains promising as businesses in the US strive to enhance efficiency and gain competitive advantages.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Asset Tracking Software Market Deployment Insights

    The Deployment segment of the US Asset Tracking Software Market encompasses various methodologies, with a focus on Cloud and On-Premise solutions. The Cloud deployment model has gained significant traction due to its scalability, cost-efficiency, and ease of access from any location, making it particularly appealing for businesses looking to enhance their supply chain visibility. Moreover, the On-Premise solution is preferred by organizations with stringent data security requirements, as it allows complete control over internal servers and data management processes.

    This segment plays a critical role in ensuring real-time asset tracking and enhances the overall operational efficiency of businesses across numerous industries, including transportation, manufacturing, and logistics. A combination of these deployment options allows organizations to select a solution that aligns with their operational needs and compliance requirements.

    The increasing demand for improved asset utilization and enhanced productivity drives the growth of the US Asset Tracking Software Market, as organizations recognize the necessity of using sophisticated software that can adapt to their unique business scenarios.With the rise in Internet of Things (IoT) technologies, the effectiveness of tracking assets has improved, further solidifying the importance of these deployment strategies in the modern business landscape.

    Asset Tracking Software Market Organization size Insights

    The US Asset Tracking Software Market demonstrates significant segmentation by organization size, primarily encompassing small and medium-sized enterprises (SMEs) and large enterprises. SMEs represent a dynamic portion of the market due to the increasing need for cost-effective asset management solutions, which drive their adoption of asset tracking systems. This demand is fueled by the necessity to enhance operational efficiency and reduce losses associated with asset mismanagement. On the other hand, large enterprises tend to dominate the market, harnessing advanced asset tracking tools to streamline operations across vast networks and multiple locations.

    These organizations often emphasize sophisticated features such as real-time tracking, analytics, and integration with existing systems to maintain a competitive edge. The increasing focus on data-driven decision-making has created new opportunities for both segments, as organizations strive for improved resource allocation and accountability. However, varying resource availability and technological readiness present challenges, particularly for SMEs, which may struggle to implement high-end solutions. Overall, the segmentation reflects the diverse needs and capabilities of organizations within the asset tracking software landscape in the US, illustrating the critical role that organization size plays in shaping market dynamics.

    The US Asset Tracking Software Market is expected to experience substantial growth within the Vertical segment, encompassing industries such as Banking, Financial Services and Insurance (BFSI), Retail, Government, Automotive, and Manufacturing. Within the BFSI sector, the need for robust tracking solutions is crucial due to regulatory compliance and security requirements, making this segment a significant contributor to the overall market. Retail, on the other hand, is increasingly adopting asset tracking software to enhance inventory management and improve customer experience by ensuring product availability.

    The Government sector also plays a pivotal role, driven by the necessity for efficient management of public assets and transparency in operations. In the Automotive industry, asset tracking enhances vehicle logistics, maintenance, and fleet management, driving efficiency and reducing operational costs. The Manufacturing sector heavily invests in asset management to boost productivity and minimize downtime, leading to optimized supply chain performance. Collectively, these segments illustrate the diverse applications and increasing importance of asset tracking software across various industries, indicating a trend toward digitization and real-time monitoring in the US market.

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    Regional Insights

    Key Players and Competitive Insights

    The US Asset Tracking Software Market has undergone significant growth and transformation in recent years, driven by advancements in technology and an increasing need for companies to optimize their asset management processes. The competitive landscape is characterized by a mix of established players and emerging startups, all vying for market share by offering innovative solutions tailored to various industries. Key factors influencing competition include the ability to provide real-time tracking, improve operational efficiency, and enhance visibility across the supply chain. Companies are continually refining their offerings, integrating emerging technologies like IoT and AI to cater to evolving customer demands.

    The market is witnessing strategic alliances, partnerships, and a wave of acquisitions as organizations seek to strengthen their capabilities and expand their service portfolios.SAP has established a strong presence in the US Asset Tracking Software Market by providing comprehensive solutions that streamline asset management processes. The company leverages its extensive experience and technological prowess to deliver tools that enhance visibility, efficiency, and data-driven decision-making. Key strengths of SAP include its robust analytics capabilities, integration with other enterprise solutions, and a vast customer base across various sectors.

    This positions SAP favorably as companies look to adopt end-to-end asset tracking solutions that can seamlessly align with their existing IT infrastructure. The company’s focus on innovation and customer-centricity allows it to maintain a competitive edge in a market that is continually evolving, as organizations increasingly recognize the importance of effectively managing their assets in real-time.Sierra Wireless is another notable player in the US Asset Tracking Software Market, recognized for its IoT solutions that facilitate effective asset management.

    The company offers a suite of products that enable businesses to track assets in real-time, integrating hardware and software to ensure seamless connectivity and data collection. A key strength of Sierra Wireless is its ability to provide scalable and versatile solutions that cater to different industries, enabling businesses to optimize their operations and improve asset utilization. The company's focus on providing end-to-end IoT solutions, from hardware to cloud services, positions it as a formidable competitor in the asset tracking domain.

    Additionally, Sierra Wireless has been active in pursuing strategic partnerships and collaborations, enhancing its market presence while expanding its offerings through mergers and acquisitions, thereby reinforcing its position in the US market while addressing the growing demand for innovative asset tracking solutions.

    Key Companies in the US Asset Tracking Software Market market include

    Industry Developments

    The US Asset Tracking Software Market has witnessed significant developments, particularly in the context of technological advancements and evolving business needs. Major players like SAP, Oracle, and IBM continue to innovate by integrating Artificial Intelligence and Internet of Things technologies to enhance asset management capabilities. In September 2023, FleetOps announced a strategic partnership with Zebra Technologies to improve logistics tracking solutions, aiming to streamline fleet management and reduce overhead costs. Additionally, in August 2023, Honeywell expanded its offerings in the asset tracking domain by acquiring RFID Solutions, bolstering its presence in the manufacturing sector.

    The growth of e-commerce and the need for efficient supply chain management have significantly increased the market's valuation, which is projected to reach $5 billion by 2025, reflecting a compound annual growth rate of over 12%. Notably, in March 2022, Trimble and PeopleNet launched a joint initiative to provide real-time data analytics for fleet operators, showcasing collaborative efforts that enhance operational efficiencies. Overall, these developments underline a robust competitive landscape with ongoing mergers and partnerships aimed at improving the asset tracking ecosystem in the United States.

    Market Segmentation

    Outlook

    • BFSI
    • Retail
    • Government
    • Automotive
    • Manufacturing

    Asset Tracking Software Market Vertical Outlook

    • BFSI
    • Retail
    • Government
    • Automotive
    • Manufacturing

    Asset Tracking Software Market Component Outlook

    • Software
    • Service

    Asset Tracking Software Market Deployment Outlook

    • Cloud
    • On-Premise

    Asset Tracking Software Market Organization size Outlook

    • SMEs
    • Large Enterprises

    Report Scope

    Report Scope:
    Report Attribute/Metric Source: Details
    MARKET SIZE 2018 4.41(USD Billion)
    MARKET SIZE 2024 5.1(USD Billion)
    MARKET SIZE 2035 16.5(USD Billion)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 11.264% (2025 - 2035)
    REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR 2024
    MARKET FORECAST PERIOD 2025 - 2035
    HISTORICAL DATA 2019 - 2024
    MARKET FORECAST UNITS USD Billion
    KEY COMPANIES PROFILED SAP, Sierra Wireless, Oracle, FleetOps, TrackForce, Savi Technology, IBM, Trimble, PeopleNet, Fleet Complete, Zebra Technologies, GPS Insight, RFID Solutions, Honeywell, Asset Panda
    SEGMENTS COVERED Component, Deployment, Organization size, Vertical
    KEY MARKET OPPORTUNITIES Increasing demand for IoT integration, Growth in e-commerce logistics, Rising need for operational efficiency, Enhanced regulatory compliance requirements, Demand for real-time data analytics
    KEY MARKET DYNAMICS Increasing demand for inventory efficiency, Growth in IoT integration, Need for real-time data analytics, Rising focus on theft prevention, Adoption of cloud-based solutions
    COUNTRIES COVERED US

    Market Highlights

    Author
    Garvit Vyas
    Analyst

    Explore the profile of Garvit Vyas, one of our esteemed authors at Market Research Future, and access their expert research contributions in the field of market research and industry analysis

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    FAQs

    What is the expected market size of the US Asset Tracking Software Market in 2024?

    The US Asset Tracking Software Market is expected to be valued at 5.1 billion USD in 2024.

    What will be the market value of the US Asset Tracking Software Market by 2035?

    By 2035, the US Asset Tracking Software Market is projected to reach a value of 16.5 billion USD.

    What is the expected CAGR for the US Asset Tracking Software Market from 2025 to 2035?

    The market is expected to grow at a CAGR of 11.264 percent during the period from 2025 to 2035.

    Which component segment holds a significant market share in the US Asset Tracking Software Market?

    The software component is expected to be valued at 2.9 billion USD in 2024 and grow to 9.5 billion USD by 2035.

    What will be the projected value of the service component in the US Asset Tracking Software Market by 2035?

    The service component is expected to be valued at 7.0 billion USD by 2035.

    Who are the major players in the US Asset Tracking Software Market?

    Key players in the market include SAP, Oracle, IBM, and Zebra Technologies among others.

    What are the expected growth drivers for the US Asset Tracking Software Market?

    The growth drivers include increasing demand for improved asset visibility and efficient asset management.

    How is the competitive landscape of the US Asset Tracking Software Market characterized?

    The competitive landscape features major companies like Trimble and Honeywell, indicating a diverse market with strong players.

    Are there any emerging trends in the US Asset Tracking Software Market?

    Emerging trends include the integration of IoT technology to enhance asset tracking capabilities.

    What challenges are faced by the US Asset Tracking Software Market?

    Challenges include the need for data security and the high costs associated with implementation.

    1. EXECUTIVE SUMMARY
    2. Market Overview
    3. Key Findings
    4. Market Segmentation
    5. Competitive Landscape
    6. Challenges and Opportunities
    7. Future Outlook
    8. MARKET INTRODUCTION
    9. Definition
    10. Scope of the study
    11. Research Objective
    12. Assumption
    13. Limitations
    14. RESEARCH METHODOLOGY
    15. Overview
    16. Data Mining
    17. Secondary Research
    18. Primary Research
    19. Primary Interviews and Information Gathering Process
    20. Breakdown of Primary Respondents
    21. Forecasting Model
    22. Market Size Estimation
    23. Bottom-Up Approach
    24. Top-Down Approach
    25. Data Triangulation
    26. Validation
    27. MARKET DYNAMICS
    28. Overview
    29. Drivers
    30. Restraints
    31. Opportunities
    32. MARKET FACTOR ANALYSIS
    33. Value chain Analysis
    34. Porter's Five Forces Analysis
    35. Bargaining Power of Suppliers
    36. Bargaining Power of Buyers
    37. Threat of New Entrants
    38. Threat of Substitutes
    39. Intensity of Rivalry
    40. COVID-19 Impact Analysis
    41. Market Impact Analysis
    42. Regional Impact
    43. Opportunity and Threat Analysis
    44. US Asset Tracking Software Market, BY Component (USD Billion)
    45. Software
    46. Service
    47. US Asset Tracking Software Market, BY Deployment (USD Billion)
    48. Cloud
    49. On-Premise
    50. US Asset Tracking Software Market, BY Organization size (USD Billion)
    51. SMEs
    52. Large Enterprises
    53. US Asset Tracking Software Market, BY Vertical (USD Billion)
    54. BFSI
    55. Retail
    56. Government
    57. Automotive
    58. Manufacturing
    59. Competitive Landscape
    60. Overview
    61. Competitive Analysis
    62. Market share Analysis
    63. Major Growth Strategy in the Asset Tracking Software Market
    64. Competitive Benchmarking
    65. Leading Players in Terms of Number of Developments in the Asset Tracking Software Market
    66. Key developments and growth strategies
    67. New Product Launch/Service Deployment
    68. Merger & Acquisitions
    69. Joint Ventures
    70. Major Players Financial Matrix
    71. Sales and Operating Income
    72. Major Players R&D Expenditure. 2023
    73. Company Profiles
    74. SAP
    75. Financial Overview
    76. Products Offered
    77. Key Developments
    78. SWOT Analysis
    79. Key Strategies
    80. Sierra Wireless
    81. Financial Overview
    82. Products Offered
    83. Key Developments
    84. SWOT Analysis
    85. Key Strategies
    86. Oracle
    87. Financial Overview
    88. Products Offered
    89. Key Developments
    90. SWOT Analysis
    91. Key Strategies
    92. FleetOps
    93. Financial Overview
    94. Products Offered
    95. Key Developments
    96. SWOT Analysis
    97. Key Strategies
    98. TrackForce
    99. Financial Overview
    100. Products Offered
    101. Key Developments
    102. SWOT Analysis
    103. Key Strategies
    104. Savi Technology
    105. Financial Overview
    106. Products Offered
    107. Key Developments
    108. SWOT Analysis
    109. Key Strategies
    110. IBM
    111. Financial Overview
    112. Products Offered
    113. Key Developments
    114. SWOT Analysis
    115. Key Strategies
    116. Trimble
    117. Financial Overview
    118. Products Offered
    119. Key Developments
    120. SWOT Analysis
    121. Key Strategies
    122. PeopleNet
    123. Financial Overview
    124. Products Offered
    125. Key Developments
    126. SWOT Analysis
    127. Key Strategies
    128. Fleet Complete
    129. Financial Overview
    130. Products Offered
    131. Key Developments
    132. SWOT Analysis
    133. Key Strategies
    134. Zebra Technologies
    135. Financial Overview
    136. Products Offered
    137. Key Developments
    138. SWOT Analysis
    139. Key Strategies
    140. GPS Insight
    141. Financial Overview
    142. Products Offered
    143. Key Developments
    144. SWOT Analysis
    145. Key Strategies
    146. RFID Solutions
    147. Financial Overview
    148. Products Offered
    149. Key Developments
    150. SWOT Analysis
    151. Key Strategies
    152. Honeywell
    153. Financial Overview
    154. Products Offered
    155. Key Developments
    156. SWOT Analysis
    157. Key Strategies
    158. Asset Panda
    159. Financial Overview
    160. Products Offered
    161. Key Developments
    162. SWOT Analysis
    163. Key Strategies
    164. References
    165. Related Reports
    166. US Asset Tracking Software Market SIZE ESTIMATES & FORECAST, BY COMPONENT, 2019-2035 (USD Billions)
    167. US Asset Tracking Software Market SIZE ESTIMATES & FORECAST, BY DEPLOYMENT, 2019-2035 (USD Billions)
    168. US Asset Tracking Software Market SIZE ESTIMATES & FORECAST, BY ORGANIZATION SIZE, 2019-2035 (USD Billions)
    169. US Asset Tracking Software Market SIZE ESTIMATES & FORECAST, BY VERTICAL, 2019-2035 (USD Billions)
    170. PRODUCT LAUNCH/PRODUCT DEVELOPMENT/APPROVAL
    171. ACQUISITION/PARTNERSHIP
    172. MARKET SYNOPSIS
    173. US ASSET TRACKING SOFTWARE MARKET ANALYSIS BY COMPONENT
    174. US ASSET TRACKING SOFTWARE MARKET ANALYSIS BY DEPLOYMENT
    175. US ASSET TRACKING SOFTWARE MARKET ANALYSIS BY ORGANIZATION SIZE
    176. US ASSET TRACKING SOFTWARE MARKET ANALYSIS BY VERTICAL
    177. KEY BUYING CRITERIA OF ASSET TRACKING SOFTWARE MARKET
    178. RESEARCH PROCESS OF MRFR
    179. DRO ANALYSIS OF ASSET TRACKING SOFTWARE MARKET
    180. DRIVERS IMPACT ANALYSIS: ASSET TRACKING SOFTWARE MARKET
    181. RESTRAINTS IMPACT ANALYSIS: ASSET TRACKING SOFTWARE MARKET
    182. SUPPLY / VALUE CHAIN: ASSET TRACKING SOFTWARE MARKET
    183. ASSET TRACKING SOFTWARE MARKET, BY COMPONENT, 2025 (% SHARE)
    184. ASSET TRACKING SOFTWARE MARKET, BY COMPONENT, 2019 TO 2035 (USD Billions)
    185. ASSET TRACKING SOFTWARE MARKET, BY DEPLOYMENT, 2025 (% SHARE)
    186. ASSET TRACKING SOFTWARE MARKET, BY DEPLOYMENT, 2019 TO 2035 (USD Billions)
    187. ASSET TRACKING SOFTWARE MARKET, BY ORGANIZATION SIZE, 2025 (% SHARE)
    188. ASSET TRACKING SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019 TO 2035 (USD Billions)
    189. ASSET TRACKING SOFTWARE MARKET, BY VERTICAL, 2025 (% SHARE)
    190. ASSET TRACKING SOFTWARE MARKET, BY VERTICAL, 2019 TO 2035 (USD Billions)
    191. BENCHMARKING OF MAJOR COMPETITORS

    US Asset Tracking Software Market Segmentation

     

     

     

    • Asset Tracking Software Market By Component (USD Billion, 2019-2035)

      • Software
      • Service

     

    • Asset Tracking Software Market By Deployment (USD Billion, 2019-2035)

      • Cloud
      • On-Premise

     

    • Asset Tracking Software Market By Organization size (USD Billion, 2019-2035)

      • SMEs
      • Large Enterprises

     

    • Asset Tracking Software Market By Vertical (USD Billion, 2019-2035)

      • BFSI
      • Retail
      • Government
      • Automotive
      • Manufacturing

     

     

     

     

     

     

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