IoT Based Asset Tracking and Monitoring Market Size, Share, and Industry Analysis By Connectivity Type (Wi-Fi, Bluetooth, Cellular, NB-IOT, LoRa, Sigfox, Ultra-Wideband, and GNSS), By Monitoring Type (Indoor and Outdoor), By Application (Livestock Monitoring, Automotive, Railways, Aviation, Manufacturing, and Cold Chain Monitoring), and Regional Forecast, 2026-2034

The global IoT based asset tracking and monitoring market size was valued at USD 5.76 billion in 2025. The market is projected to grow from USD 6.51 billion in 2026 to USD 17.36 billion by 2034, exhibiting a CAGR of 13.04% during the forecast period.

The global IoT based asset tracking and monitoring market is expected to expand considerably. It is due to rising digitalization and escalating infrastructure improvement. IoT-based Asset tracking and monitoring systems represent the utilization of connected devices integrated with particular digital systems. These digital systems include asset tracking software to read and transmit data on a real-time basis.

• According to the Bureau of Transportation Statistics (BTS), about 320 logistic firms are utilizing IoT tracking systems in the U.S.

This system describes the employment of IoT gadgets and technology to keep track of physical resources.  They enable utilization of assets efficiently, improve efficiency of the systems, and reduce losses.

IoT Based Asset Tracking and Monitoring Market Driver

Real-Time Visibility and Operation Efficiency and Regulation Compliance Boosts Market Growth

The growing aspect for market growth is the rising demand for higher operational efficiency and real-time screening by various firms. Various firms are necessitating implementation of IoT solutions to increase their real-time insights into assets conditions and its location. They are required to improve operation efficiency along with decreasing losses, fostering demand for the systems. In addition, mounting advancements in wireless communication systems is enhancing market growth. The expansion of technologies is facilitating seamless connectivity, which is enabling efficient asset tracking across vast geographies and enhancing demand for the tools.

• According to the European Automobile Manufacturers’ Association (ACEA), about 72 automotive supply chains are using IoT based monitoring in the EU.

Furthermore, rising agreement with regulatory standards and safety is impelling market growth. A range of industries are mandatory to monitor their assets in the process of supply chain and transportation of goods from starting to end is encouraging implementation of the solutions. Additionally, the rising smart cities and number of infrastructure projects is bolstering market growth. They are raising the requirement of asset management solutions which is increasing demand for the platforms.

IoT Based Asset Tracking and Monitoring Market Restraint

High Initial Implementation Costs and Concerns about Data Security Impede Market Growth

The limiting factor for the market hindrance is the rising of huge amounts for implementation of sophisticated solutions. The deployment of the system into the IoT infrastructure requires considerable amounts of spending that includes software, hardware, and training. This is deterring many small-scale firms who have budget constraints from adopting the solution.

Furthermore, growing concern regarding data protection and privacy of information is impeding market growth. There is rising apprehension in end-users to trust on the system as it is working on a vast volume of data generated by the systems, and is necessarily pushing organizations to implement cyber security systems. In addition, growing technical complexity of the solution is increasing barriers for customers, which is impacting on demand for the systems. Integration of the system with the existing systems is complex in nature and requires trainer personnel and technically knowledgeable in impacting on market growth.

IoT Based Asset Tracking and Monitoring Market Opportunity

Integration of Sophisticated Technologies and Emerging Economics Create Opportunity for Market Growth

One of the significant opportunities for market growth is the rising incorporation of modern technologies into the system. Combining AI and machine learning with the system is offering innovative solutions such as forging predictive analytics, enhancing asset management, and providing maintenance strategies. It is drawing the attention of the end-users and is impelling market growth.

• According to the National Science Foundation (NSF), about 17 research studies on IoT tracking technologies are funded by NSF in North America.

Furthermore, expansion of the emerging financial side of developing regions is presenting great options for market growth. The rapid industrialization in such regions are attracting market players to expand their market and catering to the rising requirement of the solutions. In addition, growing non-traditional sectors including agriculture, retail, and healthcare are exploring the solutions. They are allowing improved management of inventory, warehouses, and others are amplifying demand for the systems and propelling market growth.

• According to the General Administration of Customs of the People’s Republic of China (GACC), approximately 2700 metric tons of IoT sensors are imported in Asia Pacific.

Segmentation

Key Insights

The report covers the following key insights:

• Augmentation in Smart Cities and Infrastructure Projects by Key Countries
• Incorporation of Advanced Technologies by Key Companies
• Drivers, Restraints, Trends, and Opportunities
• Business Strategies Adopted by Key Players
• Consolidated SWOT Analysis of Key Players
• Key Industry Developments (Mergers, Acquisitions, Partnerships)

Analysis by Connectivity Type

Based on connectivity type, the IoT based asset tracking and monitoring market is divided into wi-fi, bluetooth, cellular, NB-IOT, LoRa, sigfox, ultra-wideband, and GNSS.

The cellular segment is dominating in the market, driven by their wide coverage networks. It offers fast-end seamless tracking capabilities and reliability attracts numerous industries.

The LoRa segment is projected to grow in the market, caused by its battery-powered IoT application solutions. They are simple to implement into existing infrastructures and increase demand for the segment.

Analysis by Monitoring Type

Based on monitoring Type, the IoT based asset tracking and monitoring market is divided into indoor and outdoor.

The outdoor segment is leading in this market, caused by its employment in wide-range of applications. It helps in improving efficient operation of various functions involving movement, providing locations, and transportation.

The indoor segment is gaining traction in the market due to their exploitation in numerous purposes such as warehouses, hospitals, factories. It assists in tracking materials, equipment, and other facilities.

Analysis by Application

Based on application, the IoT based asset tracking and monitoring market is divided into livestock monitoring, automotive, railways, aviation, manufacturing, and cold chain monitoring.

The livestock monitoring segment is dominating in this market attributed to the rising requirement for continuous and immediate visibility and management of assets in a range of industries.

The cold chain monitoring segment is anticipated to grow in the market owing to its utilization for fleets to transport products at certain temperatures. It helps in reducing waste and damage of goods.

Regional Analysis

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Based on geography, the market has been studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

The Asia Pacific region is leading in this market. This growth is attributable to hasty industrialization. Rising government initiatives are promoting digitalization of the systems and boosting demand for the solution. Moreover, expanding manufacturing sectors are supporting market growth.

North America is witnessing substantial growth in this market, caused by early acceptance of advanced technologies by the end-users. The existence and growth of strong IT infrastructure in this region is fostering demand for the platforms. In addition, rising expenditure in IoT R&D by organizations is propelling market growth.

Europe is expected to be the fastest growing region in the market attributed to growing focus on sustainability in the system. Imposition of robust regulatory frameworks by governments is supporting implementation of the solutions and fostering market growth. Additionally, rising presence of major market players boost the adoption rate of the system in this region.

Key Players Covered

The report includes the profiles of the following key players:

• Quectel Wireless Solutions Co., Ltd (China)
• Telit (US)
• Samsara Inc. (US)
• EROAD Ltd (US)
• ADVANCED TRACKING TECHNOLOGIES, INC. (US)
• u-blox (Switzerland)
• Fibocom Wireless Inc. (China)
• Semtech Corporation (US)
• SEQUANS (France)
• Particle Industries, Inc. (US)

Key Industry Developments

• In December 2024, Myriota disclosed that it has secured a USD 50 million fund to augment its IoT connectivity solutions. The aim of this fund collection is to augment asset tracking in remote areas.
• In June 2024, Digital Matter launched its new system, the Device Manager. This platform allows efficient management of IoT tracking devices, enhances scalability and end-user experience.
• In June 2024, Samsara unveiled its new asset tags created for non-vehicle assets. They aimed to expand their IoT portfolio and address broader asset tracking requirements.