Worldwide IoT based Asset Tracking and Monitoring Industry is Expected to Reach $6.7 Billion by 2028

The Global IoT based Asset Tracking and Monitoring Market size is expected to reach $6.7 billion by 2028, rising at a market growth of 10.7% CAGR during the forecast period.

Today, most businesses provide extremely easy-to-configure cloud-based video management platforms. By merely enrolling into the mobile app with legitimate credentials, users have the freedom to combine multiple cameras with one VMS. Additionally, they can utilize the same procedure to grant numerous individuals' access to examine security footage.

Without the assistance of experts, anyone can complete the configuration procedure entirely on their own. It only takes a few minutes to get everything functioning. The use of the Internet of Things (IoT)-enabled devices to follow the position and condition of mobile assets and equipment is known as asset tracking. The location of crucial assets can be tracked in real-time using an IoT asset tracking system.

A system for asset locating can also produce data that can be utilized to optimize maintenance schedules and increase asset usage. Fleet management, inventory management, and security are just a few uses for IoT asset tracking. Asset tracking IoT solutions are systems that track the location and condition of priceless assets in real-time using sensors and other IoT devices. These programs can be used to keep track of a variety of assets, including stock, vehicles, machinery, and people.

IoT solutions for asset tracking often gather information about asset location using radio frequency identification (RFID) tags or GPS tracking devices. A central server receives this data and transmits it so that authorized users can view it. IoT systems for asset tracking have various advantages, including increased asset usage, less theft and loss, and improved asset deployments. IoT solutions for asset tracking will spread across more industries as they continue to develop.