LATIN AMERICA ASSET TRACKING MARKET 2019-2028

LATIN AMERICA ASSET TRACKING MARKET 2019-2028

MARKET OUTLOOK

Triton’s research report suggests that the Latin America asset tracking market is likely to exhibit a CAGR of 12.67% during the evaluated period 2019-2028. Mexico, Brazil, and Rest of Latin America shape the market in this region.

In the region, the number of IoT connections is expected to surge in the next few years, simultaneously boosting mobile devices’ adoption. Further, the initiatives launched by various enterprises have massively contributed to the growth of the transportation and logistics industry across the region. Such developments in the industry help augment the demand for asset tracking solutions, which will help companies efficiently conduct their business operations. Also, international organizations are expanding their services in the region through partnerships and acquisitions. For instance, CalAmp had attained two companies to expand its connected vehicles and asset tracking sector in Mexico. Such initiatives are further expected to augment the Latin America asset tracking market’s progress in the upcoming years.

The e-commerce industry is growing rapidly in Mexico, further contributing substantially to the industry’s worldwide growth. The country’s existing markets are displaying potential to develop further, while new markets begin to emerge. Additionally, IoT technology is expected to grow faster, including software, hardware, and connectivity services in the IoT sector. This surge in e-commerce and IoT technologies sectors is likely to enhance the need for asset tracking solutions for business operations, further augmenting Mexico’s asset tracking market development.

COMPETITIVE OUTLOOK



The leading companies in the asset tracking market include GigaTrak, OnAsset Intelligence Inc, AT&T Inc, Zebra Technologies Corporation, Trimble Inc, Ubisense Group PLC, and Spireon Inc.