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IoT asset tracking market set to grow to $9.2 billion by 2029, fueled by manufacturing and tech advancements.
The global IoT asset tracking and monitoring market is forecast to grow from $5.0 billion in 2024 to $9.2 billion by 2029, driven by a 12.8% CAGR.
This growth is fueled by IoT adoption in manufacturing, improving operations and shifting maintenance to predictive methods.
Significant demand comes from the Asia Pacific region due to high production and consumption of electronics, and from manufacturing and cold chain monitoring applications.
Key players include Quectel Wireless Solutions, u-blox, and Fibocom Wireless.
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El mercado de seguimiento de activos de IoT crecerá a $ 9.2 mil millones para 2029, impulsado por los avances tecnológicos y de fabricación.