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North America Asset Tracking Market Forecast 2019-2028

The North America asset tracking market is evaluated to project a CAGR of 11.74%, over the forecast years of 2019 to 2028. The key factors driving the region's market growth include the increasing cargo and in-transit thefts, and the growing innovations and developments introduced by asset tracking solutions providers.

Canada and the United States are analyzed for the North America asset tracking market growth assessment. Canada is anticipated to experience a shortage of 25,000 truck drivers by 2023, accounting for a 25% increase in the unfilled vacancies, in 2019. Likewise, unoccupied job positions in 2018 are evaluated to have cost the trucking industry over $3 billion in lost revenue, delaying planned expansions by nearly 4.7%. As a result, numerous investments are being made in Canada's autonomous trucking sector. For instance, in 2017, Tesla Inc introduced a completely automatic semi-trailer truck, equipped with semi-autonomous technology, such as automated braking, enhanced autopilot, as well as lane departure warnings.
Accordingly, Fortigo Freight, a Toronto trucking enterprise, joined Walmart Canada and Loblaws, in pre-ordering Tesla semis. The electric truck set cost $232,000, and harbors the promise of eventually becoming autonomous. Moreover, such trucks are anticipated to generate significant opportunities for the country's asset tracking market. Conversely, NimbeLink Corporation, an information technology, and services company, extends AT2 asset tracking solutions. They essentially help enable TELUS customers, exclusively on the world-class TELUS LTE-M network, to monitor its assets' condition and movement, across Canada. Thus, these factors are expected to fuel the region's market growth.

Prominent companies operating in the market are, AT & T Inc, Asset Panda LLC, Cloudhawk, Onasset Intelligence Inc, Ubisense Group PLC, etc.

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North America Asset Tracking Market Forecast 2019-2028
Published By :Inkwood Research
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