Asset Tracking and Inventory Management Solutions Market to be Worth US$ 30.59 Bn by 2026 - TMR - Seite 2

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However, significant proliferation of software systems in the near future is likely to create a lucrative market for asset tracking and inventory management solutions, and hence the segment is expected to expand with the highest CAGR during the forecast period.In terms of end-user, retail segment is anticipated to contribute substantial market revenue share and is expected to remain dominant throughout the forecast period. Commercial usage of asset tracking and inventory management solutions in retail industry includes gathering real-time data, allowing omni-channel fulfillment, which is anticipated to create significant opportunities for asset tracking and inventory management solutions in the global market. According to TMR analysis, asset tracking and inventory management solutions market's transportation and logistics industry segment is expected to hold a large market share in 2016 and a similar trend is expected to be seen over the forecast period.

The market is anticipated to witness significant growth during the forecast period due to rapid growth of retail and e-commerce markets. However, asset tracking and inventory management solutions proliferation across warehouse management applications are anticipated to witness highest growth rate during the forecast period 2018 to 2026. The report projects the application segment to grow significantly over the forecast period. Moreover, the report predicts that warehouse management is anticipated to witness remarkable growth over the forecast period 2018- 2026, with a CAGR of 13.4%. Moreover, proliferation of asset tracking devices across the manufacturing segment is also one of the significant causes boosting the market.

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Asia Pacific (APAC) held the highest market revenue share in the asset tracking and inventory management solutions market in 2016 and this region is expected to expand at a significant CAGR of 13.3% during the forecast period. This region comprises large number of manufacturers of consumer goods, and asset tracking and inventory management solutions are majorly being adopted by such industries to improve production efficiency and optimize product quality. Considering the Asia Pacific asset tracking and inventory management solutions market at a country level, in 2016, China held majority of revenue share in the region. India is projected to grow with strong and substantial CAGR over the forecast periodin terms of revenuegeneration.