IoT Based Asset Tracking and Monitoring Market Size, Share and Trends 2026 to 2035

What is the IoT Based Asset Tracking and Monitoring Market Size?

The global IoT-based asset tracking and monitoring market size is calculated at USD 4.84 billion in 2025 and is predicted to increase from USD 5.25 billion in 2026 to approximately USD 10.67 billion by 2035, expanding at a CAGR of 8.23% from 2026 to 2035.

IoT Based Asset Tracking and Monitoring Market Key Takeaways

• Asia Pacific led the global market with the highest market share of 43.14% in 2025.
• The manufacturing application segment will reach USD 2.9 billion by 2035.
• The Europe region market is growing at a CAGR of 10.1% from 2026 to 2035.

What is IoT-Based Asset Tracking and Monitoring?

Most firms now provide incredibly simple-to-configure cloud-based video management tools. Users may unite several cameras with one VMS by simply enrolling in the mobile app with valid credentials. They may also use the same technique to provide several people access to study surveillance footage. Anyone may perform the setting method totally on their own without the aid of specialists. Everything is up and running in a matter of minutes. An IoT asset monitoring system can track the location of critical assets in real time.

A system for finding assets can also generate information or data that can be used to improve maintenance schedules and boost asset utilisation. IoT asset monitoring may be used for a variety of purposes, including inventory management, fleet management, and security. Asset tracking IoT solutions are the systems which use IoT devices and sensors to follow the geographical location and status of the valuable assets on a real time basis. These systems may be used to track a variety of valuable assets, including as cars, machinery, animals, and people. IoT asset tracking systems frequently use GPS tracking devices or radio frequency identification tags to obtain information about asset location. This data is received and transmitted by a central server so that authorised users may read it. IoT asset tracking solutions provide several advantages, including reduced theft, higher asset utilisation, and enhanced asset deployments. As IoT solutions for asset tracking evolve, they will extend to new sectors.

IoT Based Asset Tracking and Monitoring Market Growth Factors

The performance of industrial assets is changing dramatically as a result of smart internet of things solutions, which improve production quality. In order to produce an accurate analysis for better decision-making, real-time monitoring uses sensors to continuously monitor pressure, assets' temperature, condition, and other factors. The government and major industrial players throughout the world are investing more money in internet of things technology, which is accelerating industry expansion. Additionally, the demand for IoT-based asset tracking and monitoring is expected to grow profitably in the coming years due to expanding digitalization, increased proliferation of connected and IoT-based asset tracking and monitoring initiatives, and an increase in the number of R&D activities internationally.

Market Outlook

• Industry Growth Overview:
  The IoT-based asset tracking and monitoring market is experiencing significant growth, driven by growing adoption of Internet of Things (IoT) technologies in different industries for real-time visibility, operational efficiency, and expense reduction.
• Global Expansion:
  The market is experiencing significant global expansion, driven by LoT solutions that help reduce operational expenses by reducing equipment downtime, optimizing routes, and streamlining inventory management, leading to significant return on investment (ROI). Asia Pacific is dominated in the market due to massive industrialization and the booming e-commerce field.
• Major investors:
  Major investors in the market are the large tech/semiconductor firms (Sony, Qualcomm, Nordic Semi), established players (Cisco, IBM), and private equity, all backing companies like Quectel, Teltonika, Samsara, Zebra, and Honeywell.

Market Scope

Market Dynamics

Key Market Drivers

• Growing acceptance of cost-effective and connected devices & sensors: As a result of the growing use of devices which are connected, IoT is producing significant amounts of data, and as a result, flow implementations for data are expanding in many industries, such as agriculture, production, aviation, and the auto industry. Because of decreasing infrastructure costs, it is now possible to produce in large quantities and accelerate product delivery. Enterprises employ IoT and analytics to run and improve operations while maintaining market competitiveness. According to a recent poll, a substantial number of United States businesses collect and subsequently use data from smart IoT modules to enhance fleet management, manufacturing methods, animal feed monitoring, and other duties.
• The automotive industry's adoption of data analytics- The growth of automation has radically changed the way the automobile industry functions and raised public awareness of the Internet of Things. Automobile manufacturers, for example, are utilising IoT in advanced planning and scheduling to collect real-time inventory and production data, and cut cycle times.

Key Market Challenges

• High initial investment required for these solutions: The majority of contemporary building technology was not developed with IoT in mind. While certain devices may be quickly converted for IoT, it can be costly. Deploying IoT solutions in diverse platforms is expensive. The cost comprises the creation of the platform as well as the hardware, as well as an additional life cycle cost. The process of designing an application is costly and varies by country.

Key Market Opportunities

• Increased usage of 5G technology in the automobile industry: The rise of automation has altered the workings of the automobile industry from the inside out, making IoT appealing. Automobile manufacturers, for example, are using IoT in advanced planning and scheduling to gather real-time production and inventory data and reduce waste and cycle time.
• Real-time location tracking benefit of IoT-based asset tracking and monitoring for better planning- A solid asset tracking and monitoring strategy supports corporate goals while improving industrial performance and lowering costs. Unlike other business sectors, the manufacturing industry is rapidly embracing IoT-enabled asset tracking and monitoring technologies. Asset management facilitated by IoT assists industrial organizations in tracking, organizing, and locating every piece of equipment. All of these jobs require a significant amount of time and effort to execute manually. For inventory control, most firms use expensive portable scanners. These assets may now be tracked automatically utilizing IoT-enabled asset tracking technologies. Companies are shifting toward IoT-enabled asset monitoring to manage on-floor equipment, which is driving demand for extremely dependable and quicker connectivity modules such as 5G cellular.

Application Insights

The cold chain monitoring segment is anticipated to hold close to one-fifth of the market over the projection period. For fleets that transport products that must be maintained at a specified temperature or ranges all through the transit process, such as food, pharmaceuticals, or other necessary commodities, cold chain monitoring devices are an invaluable tool. The devices send real-time temperature data to prevent waste or damage in the cold chain distribution network.

Cold chain monitoring devices, commonly referred to as temperature data loggers, seem to be wireless sensors which use IoT technology to deliver real-time temperature data. Typically installed in reefers, refrigeration units, or cold rooms, these IoT-based asset tracking and monitoring devices help cold chain managers and customers comprehend temperature.

Connectivity Insights

In 2023, the LoRa segment gained a sizable revenue share of the IoT-based Asset Tracking and Monitoring Market. LoRa offers a solution for battery-powered IoT applications that is easy to incorporate into existing infrastructure. Semtech (US) has implemented LoRa technology in its chipsets. Such chipsets are incorporated in the items offered by its vast network of IoT clients, as well as the LPWANs supplied by mobile network operators worldwide.

With the advent of 5G services and the incorporation of IoT into new technologies, demand for the category is expected to rise throughout the projected period. Cellular networks are increasingly being used in high-power applications across sectors to detect and manage assets. The Bluetooth category is expected to account for a sizable proportion over the projection period. The advancement of Bluetooth location techniques enable businesses and organizations to attain high accuracy and dependability. Bluetooth tracking tags capable of tracking and monitoring functions can be installed in environments such as offices, clinics, building sites, factories, and retail areas, among others.

Regional Insights

Asia Pacific IoT Based Asset Tracking and Monitoring Market Size and Growth 2026 to 2035

The Asia Pacific IoT-based asset tracking and monitoring market size is estimated at USD 2.10 billion in 2025 and is predicted to be worth around USD 4.77 billion by 2035, at a CAGR of 8.55% from 2026 to 2035.

Asia Pacific: Rapid industrialization

In the Asia Pacific region, the market is predicted to expand at the fastest CAGR during the forecast period. For the manufacture of semiconductors and modules, Asia Pacific is a significant market. In especially in the developing countries of Asia Pacific, the adoption of IoT and its integration across all industries are anticipated to be in their early phases. The area has become a focal point for considerable investments and business expansion opportunities globally.

Asia Pacific's manufacture and consumption of electronic devices is expected to grow dramatically in the coming years. Additionally, the region IoT-based asset monitoring and tracking market is growing significantly due to the presence of major chip and module manufacturers.

According to estimates, the North American market for IoT-based asset monitoring and tracking would be dominated by the United States throughout the projected period. In the medical, automobile, third-party logistics, and aerospace sectors, the United States is a crucial nation with a sizable presence of top companies. These companies are looking for ways to employ IoT solutions like asset monitoring, predictive maintenance, and automated control solutions to lower operating costs and increase profitability in response to the COVID-19 outbreak. The CARES ACT, a stimulus programme sponsored by the state government, will help the IoT-based asset tracking and monitoring market in the United States as more businesses focus on boosting the productivity of well-planned asset management, monitoring, and predictive maintenance.

India IoT-Based Asset Tracking and Monitoring Market Trends

In India, advancements in 5G connectivity, cloud computing, and widespread smartphone adoption. IoT applications are expanding across diverse sectors such as agriculture, healthcare, manufacturing, and energy, highlighting the transformative power of this technology. Growing Government initiatives like Digital India, Smart Cities Mission, and Make in India are driving IoT adoption. These programs' goal is to enhance urban infrastructure, digitize public services, and drive innovation in IoT technology.

U.S. IoT-Based Asset Tracking and Monitoring Market Trends

In the U.S., Cloud-first players are reshaping the IoT asset-tracking landscape. Asset tracking has brought up a novel class of vendors that propose advanced, flexible services, often with a cloud-based software provider. Prominent hardware-centric offerings in the early asset-tracking days included services from US-based asset intelligence services provider Zebra Technologies and US-based diversified technology and manufacturing organization Honeywell.

Europe: Rapid growth in smart factories

Europe is significantly growing in the IoT-based asset tracking and monitoring market due to the IoT asset-tracking systems; the concepts of logistics are being reinvented with grounded technologies that inform and help provide real-time visibility, improved asset utilization, and predictive insight. EU guidelines are set to have a high impact on organizations in the upcoming period. The EU Cyber Resilience Act (CRA), EU Data Act, EU AI Act, and EU CSRD received a high impact score.

The UK IoT-Based Asset Tracking and Monitoring Market Trends

In the UK, rising spending by major organizations such as the UKRI Technology Missions Fund is investing £320 million in Technology Missions to support the UK's critical technologies of artificial intelligence (AI), engineering biology, future telecommunications, and quantum technologies, to further drive ground-breaking technological developments and novel scientific discoveries.

Top Companies in the IoT-Based Asset Tracking and Monitoring Market & Their Offerings

IoT Based Asset Tracking and Monitoring Market Companies

• Quectel (China)
• Sierra Wireless (Canada)
• Telit (U.K.)
• u-blox (Switzerland)
• Thales (France)
• Sony Semiconductor Israel Ltd. (Israel)
• Fibocom Wireless Inc. (China)
• Nordic Semiconductor (Norway)
• GosuncnWelink Corporation (China)
• Laird Connectivity (US)
• Semtech (US), Mediatek Inc. (Taiwan)
• Analog Devices, Inc. (US)
• Sequans (France)
• MeiG Smart Technology (China)
• Neoway Technology (China)
• Xiamen CHEERZING IoT Technology (China)
• HiSilicon Technologies (China)
• Skyworks Solutions, Inc. (US)
• Omnitracs (US), Hilti (US)
• Samsara (US), Azuga (US)
• Sunsea AIoT Technology Co., Ltd (China)

Segments Covered in the Report

By Application

• Livestock Monitoring
• Automotive
• Railways
• Aviation
• Manufacturing
• Cold Chain Monitoring
• Others

By Connectivity

• Wi-Fi
• Bluetooth
• Cellular
• NB-IoT
• LoRa
• SigFox
• UWB
• GNSS
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)