The number of active consumer asset tracking devices in Europe and North America will reach 28 million in 2026 – IoT Business News
According to a new research report from IoT analyst firm Berg Insight, the number of active consumer asset tracking devices in Europe and North America reached 11.2 million at the end of 2021.
With a CAGR of 20.4%, the active installed base is expected to reach 28.3 million units in 2026. The market value is expected to increase from €1.4 billion in 2021 to €3.7 billion in 2026 . Consumer Asset Tracking Solutions The use of wireless WANs such as cellular, satellite, LoRa, or Sigfox can be divided into four main categories based on the type of asset – family and child tracking, pet tracking, vehicle tracking, and tracking. general assets. The vehicle category can be further segmented into cars; motorcycles and mopeds; Bicycles; caravans and motorhomes; pleasure boats; and other consumer vehicles, including ATVs and snowmobiles. The general asset tracking segment includes any type of asset, such as bags and luggage, keys, wallets, clothing, electronics, tools, and sports equipment.
Some of the major family and child tracking service providers include Smith Micro Software, Life360, Xplora Technologies, Smartcom Mobility Solutions, and Verizon. The pet tracking market is dominated by Tractive, Fi, Whistle Labs and Halo. The market for aftermarket automotive telematics solutions sold to consumers is dominated by Verizon, Mojio, Harman and Modus in North America and Ryd, Springworks International and Net4Things in Europe.
The main providers of GPS tracking and vehicle recovery solutions for motorcycles and mopeds in Europe are Datatool (Scorpion Automotive), Monimoto and BikeTrac. A few companies offer tracking solutions developed specifically for pleasure craft, including Sensario, Sentinel Marine Solutions, Vetel, and Siren Marine. the GPS tracker market for e-bikes is growing rapidly. The market is today dominated by European companies such as IoT Venture, PowUnity, ConnectLab, Haveltec and BikeFinder. Trackimo, Invoxia, LandAirSea are well known providers of general purpose tracking devices.
Martin Backman, principal analyst at Berg Insight, says:
“The market for consumer asset tracking solutions is still in its infancy with huge potential for growth.”
In Europe and North America, there are more than 350 million dogs and cats, 500 million passenger cars, 135 million other consumer vehicles and 70 million children between the ages of 4 and 10, which is the typical age group applicable to children’s GPS watches. Overall, the penetration rate of GPS tracking products is currently less than one percent. Advances in battery capacity, processor power, and network technologies continually improve tracking solutions.
“Low Power Network (LPWA) technologies are particularly useful in market segments where low battery consumption is critical, such as pet tracking, bicycle tracking, and general asset tracking”concludes Mr. Backman.