The global WAN-connected returnable transport asset tracking market valuation is estimated to be worth around US$ 74.36 million for the year 2023. As per the FMI analysis report, this market size is expected to grow at an annual rate of 12% between 2023 and 2033. By the end of this forecast period, the overall size of the market is projected to reach US$ 230.95 million.
These days, the digitization of the transportation and logistics sector has amplified with the adoption of advanced telecommunication channels. Owing to this advancement, several pre-existing wide area network (WAN) service providers came forward to capitalize on this opportunity.
Interestingly, the WAN connection of a huge volume and traffic of returnable transport assets turned out to be a relief for fleet owners or businesses. Gradually, WAN connection got adopted by businessmen at different ends of any supply chain dealing in returnable transport assets. However, the WAN technologies only account for a small portion of all connections deployed by the returnable transport asset tracking market players.
Third-party party WAN connectivity service providers are expected to remain the main contenders on the technology front as returnable transport asset tracking is an add-on service. Moreover, as these service providers assure proper product differentiation, therefore, are expected to gain popularity in the coming days.
The development of item-tracking management solutions for static as well as remote assets is a development influencing the market remarkably these days. On the other hand, the implementation of cloud service platforms has further strengthened WAN-connected tracking services in the last few years.
Recent advancements in radio frequency identification (RFID) technologies have enabled several end users to integrate affordable and effective asset monitoring devices. Furthermore, the growing trend of using the internet of things (IoT) has further necessitated the integration of WAN connectivity to utilize it at its full potential.
The most significant driver for the higher deployment of WAN-connected returnable transport asset tracking services, however, is a better awareness of use-case subsets. So, as per the experts at FMI, the adoption of WAN connected returnable transport asset tracking services is expected to strengthen in the next ten years.
| Attributes | Details |
|---|---|
| WAN Connected Returnable Transport Asset Tracking Market Share (2022) | US$ 68.85 million |
| WAN Connected Returnable Transport Asset Tracking Market Size Value (2023) | US$ 74.36 million |
| WAN Connected Returnable Transport Asset Tracking Market Size Value (2033) | US$ 230.95 million |
| WAN Connected Returnable Transport Asset Tracking Market Growth Rate (2023 to 2033) | 12% |
Global WAN Connected Returnable Transport Asset Tracking Market Historical Analysis (2018 to 2022) Vs. Forecast Outlook (2023 to 2033)
As per the previous market survey report on WAN connected returnable transport asset tracking business, it is gaining traction in recent years. In 2018, the net worth of the market was nearly US$ 50.6 million. In the following five years from 2018 to 2022, the market registered a promising CAGR and concluded at a worth of US$ 68.85 million.
WAN connected management in manufacturing facilities and office spaces by asset management and tracking solutions has played an important role in the said market. In fact, achieving operational efficiency in asset management is regarded to be a significant factor in the boost of WAN services in the transportation sector.
The overall market witnessed a slight dip during the financial years 2020-21 and 2021-2022 owing to the widespread prohibition of transportation and logistics in non-essential items. According to FMI, the WAN RTA tracking market would have over 117 connections by 2027 rendering the market at a valuation of US$ 117 million.
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The requirement for remote transport asset management services is projected to rise with the proliferation of e-commerce retail supply chains around the world. The online sales channels have robustly expanded the logistics sector, which is expected to progress the WAN connectivity in traffic asset tracking and management.
Automation and IoT solution providers have long targeted Returnable Transport Assets (RTAs) as a very potential segment of investment requiring higher tracking and management in a wider area. During the past decade, there have been sizable shipments of Wide-Area Network (WAN) technology into this business.
A broad ecosystem of WAN connected returnable transport asset tracking management solution providers is expected to be crucial for market growth.
What are the Driving Factors for the Global WAN Connected Returnable Transport Asset Tracking Market in the Forecast Years?
The requirement for remote transport asset management services is projected to rise with the proliferation of e-commerce retail supply chains around the world. The online sales channels have robustly expanded the logistics sector, which is expected to progress the WAN connectivity in traffic asset tracking and management.
Automation and IoT solution providers have long targeted Returnable Transport Assets (RTAs) as a very potential segment of investment requiring higher tracking and management in a wider area. During the past decade, there have been sizable shipments of Wide-Area Network (WAN) technology into this business.
A broad ecosystem of WAN connected returnable transport asset tracking management solution providers is expected to be crucial for market growth.
As the initial sector of application, the WAN connected returnable transport asset tracking services for the transportation and logistics sector is the leading segment. Moreover, with the improvement of the economy and services sector transportation and logistics sector is poised to continue as the leading segment through 2033. In recent years many industries requiring WAN connected returnable transport asset tracking services from third-party providers are focussing on developing it by themselves.
The manufacturing industries are the leading developers of domestic WAN connected RTA tracking solutions and are progressing at a higher rate than other end-use industries. Manufacturing industries are readily adopting the deployment of WAN connected returnable transport asset tracking services for assisting businesses in achieving inventory liabilities.
As the WAN connectivity for RTA tracking services is at an initial stage of development so on-premise services currently hold the larger market share. Many end-use industries those adopted WAN connected returnable transport asset tracking services in the last decade mostly preferred on-premise solutions.
The advancement of cloud-based technologies has been remarkable in the last few years and is anticipated to strengthen the on-cloud segment through 2033. Though its installation cost is higher, the overall cost comes down significantly for the whole operation giving it an edge over the earlier segment.
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Currently, many successful WAN connectivity service providers are operating in North America, particularly in the United States. In addition to this, the logistics and transportation sector is also quite developed here in comparison to other countries.
Businesses in the United States and Canada are also known for the earliest adoption of high-end technologies in almost every sector. Owing to all these factors, the United States is projected to remain at the forefront in the adoption of WAN connectivity for remote or returnable transport asset tracking and management.
Europe is known for its higher use of freight and Cargo transporting goods and commodities across several regional and international boundaries. So, this region is believed to have a huge potential for different types of remote asset tracking and management market.
Presently, Germany leads in the demand for WAN connected returnable transport asset tracking services in the European region. Meanwhile, France, Italy, Spain, and the United Kingdom have increased their regional markets substantially in the post-pandemic period.
Asia Pacific is a remarkably growing economic region with transport and logistics being the backbone of many countries. However, countries with suitable infrastructure and digital advancement have only been yet able to adopt WAN connectivity in their existing remote asset-tracking systems.
India and China have emerged to be very promising marketplaces for WAN connected returnable transport asset-tracking service providers. The sheer amount of transport assets operating continuously in these two countries has opened up huge opportunities for regional players as well.
The sheer interconnected nature of the logistics sector has led to the emergence of many regional players for tracking returnable transported assets. However, the unavailability of a certain level of technological advancement has limited the proliferation of WAN connections in this sector in all regions. So, the overall market is fairly consolidated until now, with some leading network companies still dominating the global landscape.
Given the growing emphasis on the establishment of telecommunication and data transfer infrastructures, many start-ups are gearing towards WAN connectivity these days. Hence, encouraging federal policies is anticipated to usher in new market players soon and fragment the market landscape. Moreover, a favorable market climate is poised to intensify the competition for WAN connected returnable transport assets tracking services in the coming days.
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A total of US$68.85 million was generated in 2022 by the market.
The market is expected to reach US$ 230.95 million by 2033.
The market is anticipated to expand at a 12% CAGR through 2033.
ActSoft, Inc., Touma Incorporated, and Asset Panda LLC are the leading market players.
On-cloud services are expected to grow the market.
1. Executive Summary | WAN Connected Returnable Transport Asset Tracking Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Demand of Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Demand of Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Component, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Component, 2023 to 2033
5.3.1. Hardware
5.3.2. Software
5.4. Y-o-Y Growth Trend Analysis By Component, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Component, 2023 to 2033
6. Global Demand of Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Deployment Type, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Deployment Type, 2023 to 2033
6.3.1. On-Cloud
6.3.2. On-premise
6.4. Y-o-Y Growth Trend Analysis By Deployment Type, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Deployment Type, 2023 to 2033
7. Global Demand of Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-user Application
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By End-user Application, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End-user Application, 2023 to 2033
7.3.1. Transportation & Logistics
7.3.2. Aviation
7.3.3. Healthcare
7.3.4. Manufacturing
7.3.5. Food & Beverage
7.4. Y-o-Y Growth Trend Analysis By End-user Application, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By End-user Application, 2023 to 2033
8. Global Demand of Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. South Asia
8.3.5. East Asia
8.3.6. Oceania
8.3.7. MEA
8.4. Market Attractiveness Analysis By Region
9. North America Demand of Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. U.S.
9.2.1.2. Canada
9.2.2. By Component
9.2.3. By Deployment Type
9.2.4. By End-user Application
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Component
9.3.3. By Deployment Type
9.3.4. By End-user Application
9.4. Key Takeaways
10. Latin America Demand of Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Component
10.2.3. By Deployment Type
10.2.4. By End-user Application
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Component
10.3.3. By Deployment Type
10.3.4. By End-user Application
10.4. Key Takeaways
11. Europe Demand of Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. UNITED KINGDOM
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Europe
11.2.2. By Component
11.2.3. By Deployment Type
11.2.4. By End-user Application
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Component
11.3.3. By Deployment Type
11.3.4. By End-user Application
11.4. Key Takeaways
12. South Asia Demand of Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Malaysia
12.2.1.3. Singapore
12.2.1.4. Thailand
12.2.1.5. Rest of South Asia
12.2.2. By Component
12.2.3. By Deployment Type
12.2.4. By End-user Application
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Component
12.3.3. By Deployment Type
12.3.4. By End-user Application
12.4. Key Takeaways
13. East Asia Demand of Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Component
13.2.3. By Deployment Type
13.2.4. By End-user Application
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Component
13.3.3. By Deployment Type
13.3.4. By End-user Application
13.4. Key Takeaways
14. Oceania Demand of Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. Australia
14.2.1.2. New Zealand
14.2.2. By Component
14.2.3. By Deployment Type
14.2.4. By End-user Application
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Component
14.3.3. By Deployment Type
14.3.4. By End-user Application
14.4. Key Takeaways
15. MEA Demand of Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
15.2.1. By Country
15.2.1.1. GCC Countries
15.2.1.2. South Africa
15.2.1.3. Israel
15.2.1.4. Rest of MEA
15.2.2. By Component
15.2.3. By Deployment Type
15.2.4. By End-user Application
15.3. Market Attractiveness Analysis
15.3.1. By Country
15.3.2. By Component
15.3.3. By Deployment Type
15.3.4. By End-user Application
15.4. Key Takeaways
16. Key Countries Demand of Analysis
16.1. U.S.
16.1.1. Pricing Analysis
16.1.2. Market Share Analysis, 2022
16.1.2.1. By Component
16.1.2.2. By Deployment Type
16.1.2.3. By End-user Application
16.2. Canada
16.2.1. Pricing Analysis
16.2.2. Market Share Analysis, 2022
16.2.2.1. By Component
16.2.2.2. By Deployment Type
16.2.2.3. By End-user Application
16.3. Brazil
16.3.1. Pricing Analysis
16.3.2. Market Share Analysis, 2022
16.3.2.1. By Component
16.3.2.2. By Deployment Type
16.3.2.3. By End-user Application
16.4. Mexico
16.4.1. Pricing Analysis
16.4.2. Market Share Analysis, 2022
16.4.2.1. By Component
16.4.2.2. By Deployment Type
16.4.2.3. By End-user Application
16.5. Germany
16.5.1. Pricing Analysis
16.5.2. Market Share Analysis, 2022
16.5.2.1. By Component
16.5.2.2. By Deployment Type
16.5.2.3. By End-user Application
16.6. UNITED KINGDOM
16.6.1. Pricing Analysis
16.6.2. Market Share Analysis, 2022
16.6.2.1. By Component
16.6.2.2. By Deployment Type
16.6.2.3. By End-user Application
16.7. France
16.7.1. Pricing Analysis
16.7.2. Market Share Analysis, 2022
16.7.2.1. By Component
16.7.2.2. By Deployment Type
16.7.2.3. By End-user Application
16.8. Spain
16.8.1. Pricing Analysis
16.8.2. Market Share Analysis, 2022
16.8.2.1. By Component
16.8.2.2. By Deployment Type
16.8.2.3. By End-user Application
16.9. Italy
16.9.1. Pricing Analysis
16.9.2. Market Share Analysis, 2022
16.9.2.1. By Component
16.9.2.2. By Deployment Type
16.9.2.3. By End-user Application
16.10. India
16.10.1. Pricing Analysis
16.10.2. Market Share Analysis, 2022
16.10.2.1. By Component
16.10.2.2. By Deployment Type
16.10.2.3. By End-user Application
16.11. Malaysia
16.11.1. Pricing Analysis
16.11.2. Market Share Analysis, 2022
16.11.2.1. By Component
16.11.2.2. By Deployment Type
16.11.2.3. By End-user Application
16.12. Singapore
16.12.1. Pricing Analysis
16.12.2. Market Share Analysis, 2022
16.12.2.1. By Component
16.12.2.2. By Deployment Type
16.12.2.3. By End-user Application
16.13. Thailand
16.13.1. Pricing Analysis
16.13.2. Market Share Analysis, 2022
16.13.2.1. By Component
16.13.2.2. By Deployment Type
16.13.2.3. By End-user Application
16.14. China
16.14.1. Pricing Analysis
16.14.2. Market Share Analysis, 2022
16.14.2.1. By Component
16.14.2.2. By Deployment Type
16.14.2.3. By End-user Application
16.15. Japan
16.15.1. Pricing Analysis
16.15.2. Market Share Analysis, 2022
16.15.2.1. By Component
16.15.2.2. By Deployment Type
16.15.2.3. By End-user Application
16.16. South Korea
16.16.1. Pricing Analysis
16.16.2. Market Share Analysis, 2022
16.16.2.1. By Component
16.16.2.2. By Deployment Type
16.16.2.3. By End-user Application
16.17. Australia
16.17.1. Pricing Analysis
16.17.2. Market Share Analysis, 2022
16.17.2.1. By Component
16.17.2.2. By Deployment Type
16.17.2.3. By End-user Application
16.18. New Zealand
16.18.1. Pricing Analysis
16.18.2. Market Share Analysis, 2022
16.18.2.1. By Component
16.18.2.2. By Deployment Type
16.18.2.3. By End-user Application
16.19. GCC Countries
16.19.1. Pricing Analysis
16.19.2. Market Share Analysis, 2022
16.19.2.1. By Component
16.19.2.2. By Deployment Type
16.19.2.3. By End-user Application
16.20. South Africa
16.20.1. Pricing Analysis
16.20.2. Market Share Analysis, 2022
16.20.2.1. By Component
16.20.2.2. By Deployment Type
16.20.2.3. By End-user Application
16.21. Israel
16.21.1. Pricing Analysis
16.21.2. Market Share Analysis, 2022
16.21.2.1. By Component
16.21.2.2. By Deployment Type
16.21.2.3. By End-user Application
17. Market Structure Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Market Share Analysis of Top Players
17.3.1. By Regional
17.3.2. By Component
17.3.3. By Deployment Type
17.3.4. By End-user Application
18. Competition Analysis
18.1. Competition Deep Dive
18.1.1. ActSoft, Inc.
18.1.1.1. Overview
18.1.1.2. Product Portfolio
18.1.1.3. Profitability by Market Segments
18.1.1.4. Sales Footprint
18.1.1.5. Strategy Overview
18.1.1.5.1. Marketing Strategy
18.1.2. Touma Incorporated
18.1.2.1. Overview
18.1.2.2. Product Portfolio
18.1.2.3. Profitability by Market Segments
18.1.2.4. Sales Footprint
18.1.2.5. Strategy Overview
18.1.2.5.1. Marketing Strategy
18.1.3. Asset Panda LLC
18.1.3.1. Overview
18.1.3.2. Product Portfolio
18.1.3.3. Profitability by Market Segments
18.1.3.4. Sales Footprint
18.1.3.5. Strategy Overview
18.1.3.5.1. Marketing Strategy
18.1.4. AT&T Inc.
18.1.4.1. Overview
18.1.4.2. Product Portfolio
18.1.4.3. Profitability by Market Segments
18.1.4.4. Sales Footprint
18.1.4.5. Strategy Overview
18.1.4.5.1. Marketing Strategy
18.1.5. GigaTrak
18.1.5.1. Overview
18.1.5.2. Product Portfolio
18.1.5.3. Profitability by Market Segments
18.1.5.4. Sales Footprint
18.1.5.5. Strategy Overview
18.1.5.5.1. Marketing Strategy
18.1.6. OnAsset Intelligence Inc.
18.1.6.1. Overview
18.1.6.2. Product Portfolio
18.1.6.3. Profitability by Market Segments
18.1.6.4. Sales Footprint
18.1.6.5. Strategy Overview
18.1.6.5.1. Marketing Strategy
18.1.7. Oracle Corporation
18.1.7.1. Overview
18.1.7.2. Product Portfolio
18.1.7.3. Profitability by Market Segments
18.1.7.4. Sales Footprint
18.1.7.5. Strategy Overview
18.1.7.5.1. Marketing Strategy
18.1.8. Spireon Inc.
18.1.8.1. Overview
18.1.8.2. Product Portfolio
18.1.8.3. Profitability by Market Segments
18.1.8.4. Sales Footprint
18.1.8.5. Strategy Overview
18.1.8.5.1. Marketing Strategy
18.1.9. Trimble Inc.
18.1.9.1. Overview
18.1.9.2. Product Portfolio
18.1.9.3. Profitability by Market Segments
18.1.9.4. Sales Footprint
18.1.9.5. Strategy Overview
18.1.9.5.1. Marketing Strategy
18.1.10. Zebra Technologies Corporation
18.1.10.1. Overview
18.1.10.2. Product Portfolio
18.1.10.3. Profitability by Market Segments
18.1.10.4. Sales Footprint
18.1.10.5. Strategy Overview
18.1.10.5.1. Marketing Strategy
18.1.11. Verizon Communications Inc.
18.1.11.1. Overview
18.1.11.2. Product Portfolio
18.1.11.3. Profitability by Market Segments
18.1.11.4. Sales Footprint
18.1.11.5. Strategy Overview
18.1.11.5.1. Marketing Strategy
18.1.12. Ubisense limited
18.1.12.1. Overview
18.1.12.2. Product Portfolio
18.1.12.3. Profitability by Market Segments
18.1.12.4. Sales Footprint
18.1.12.5. Strategy Overview
18.1.12.5.1. Marketing Strategy
19. Assumptions & Acronyms Used
20. Research Methodology
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WAN Connected Returnable Transport Asset Tracking Market
