Asset Tracking Market and Adoption Statistics 2026
Cited industry data on the global asset tracking market, IoT adoption rates, CMMS software growth, GPS fleet tracking penetration, and Asia-Pacific market trends. Every statistic links to its original source. Click “Cite this statistic” to get a pre-formatted citation with a link back to this page.
Last updated: May 2026 · 10 statistics · Free to cite with attribution
Global market size and growth
The asset tracking industry is experiencing sustained double-digit growth as organisations across every sector invest in digital visibility, compliance automation, and real-time operational intelligence.
US$36.3 billion by 2028
Global asset tracking market size forecast
The global asset tracking and management market is projected to reach $36.3 billion by 2028, growing at a CAGR of 13.4% from 2023, driven by IoT adoption, regulatory compliance, and supply chain visibility demands.
Source: MarketsandMarkets, Asset Tracking Market Report (2024)
Construction IoT adoption
Construction is one of the fastest-growing sectors for IoT technology, driven by GPS fleet tracking, equipment telematics, and site safety monitoring.
18.5% CAGR
IoT in construction market growth rate
The IoT in construction market is growing at 18.5% CAGR, driven by GPS fleet tracking, equipment telematics, site monitoring, and digital twin technologies.
Source: Grand View Research, IoT in Construction Report (2024)
CMMS and maintenance software market
The shift from reactive to preventive and predictive maintenance is fuelling rapid growth in the computerised maintenance management system (CMMS) market.
US$2.1 billion by 2028
Global CMMS software market size
The computerised maintenance management system (CMMS) market is expected to reach $2.1 billion by 2028, as organisations shift from reactive to preventive and predictive maintenance strategies.
Source: Fortune Business Insights (2024)
How organisations track assets
Despite rapid technology adoption, a significant proportion of businesses still rely on manual methods. These statistics reveal the current state of asset identification and tracking practices.
83%
Organisations using barcodes or QR codes for asset identification
A GS1 survey found that 83% of organisations with formal asset management programs use barcodes or QR codes as their primary identification method, ahead of RFID (34%) and GPS (28%).
Source: GS1 Global Standards Report (2024)
46%
SMEs still use spreadsheets for asset tracking
Despite the availability of cloud-based platforms, 46% of small and medium enterprises still rely on spreadsheets or paper-based systems to track their assets, exposing them to data loss, errors, and poor visibility.
Source: Wasp Barcode Technologies, State of Small Business Report (2024)
Mobile and GPS adoption
Mobile-first maintenance workflows and GPS fleet tracking have become mainstream, with adoption rates climbing steadily year on year.
72%
Maintenance teams using mobile devices for work orders
A Plant Engineering survey found that 72% of maintenance teams now use mobile devices (smartphones or tablets) to receive, update, or close work orders, up from 38% in 2018.
Source: Plant Engineering Maintenance Survey (2024)
69%
Commercial fleets using GPS tracking
Approximately 69% of commercial fleet operators in North America and Europe now use GPS tracking on at least part of their fleet, driven by fuel savings, route optimisation, and insurance requirements.
Source: Berg Insight, Fleet Management Market Report (2024)
78%
Maintenance teams consider mobile CMMS access a must-have
78% of maintenance teams now consider mobile CMMS access a must-have rather than a nice-to-have, up from 45% in 2020. The shift has been driven by remote workforce growth, rising real-time data expectations, and the need for technicians to access work orders, asset history, and parts information directly from the field.
Source: Plant Engineering Maintenance Survey (2024)
Asia-Pacific market growth
The Asia-Pacific region is outpacing global averages for asset tracking adoption, driven by infrastructure investment, regulatory modernisation, and growing demand for digital fleet management.
15.2% CAGR
Asia-Pacific asset tracking market growth rate
The Asia-Pacific asset tracking market is growing at 15.2% CAGR, outpacing the global average of 13.4%. Rapid infrastructure investment and regulatory modernisation in Australia, India, and Southeast Asia are the primary drivers, as governments mandate stricter equipment compliance and operators seek digital visibility across expanding fleets.
Source: MarketsandMarkets APAC Report (2024)
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Key findings
- The global asset tracking market is projected to reach US$36.3 billion by 2028, growing at 13.4% CAGR.
- Construction IoT adoption is expanding at 18.5% CAGR, outpacing most other industrial sectors.
- 69% of commercial fleets in North America and Europe now use GPS tracking on at least part of their fleet.
- 46% of SMEs still rely on spreadsheets or paper to manage their assets, despite cloud-based alternatives being widely available.
- The CMMS market is expected to reach US$2.1 billion by 2028 as organisations shift to preventive maintenance.
- Asia-Pacific asset tracking is growing at 15.2% CAGR, well above the global average of 13.4%.
Methodology
Every statistic on this page is drawn from publicly accessible industry reports, government agencies, or peer-reviewed research. We do not use paywalled, self-reported vendor data, or unverifiable claims. Each data point links to its original source so readers and journalists can verify independently.
Statistics are reviewed quarterly and updated when newer data becomes available. Where a range is cited (e.g. “10% to 15%”), it reflects variation across studies or industries rather than a single point estimate. All monetary figures are shown in their original reported currency.
Frequently asked questions
What is the global asset tracking market size?
The global asset tracking and management market is projected to reach US$36.3 billion by 2028, growing at a CAGR of 13.4% from 2023, driven by IoT adoption, regulatory compliance, and supply chain visibility demands (MarketsandMarkets).
How fast is IoT adoption in construction?
The IoT in construction market is growing at 18.5% CAGR, driven by GPS fleet tracking, equipment telematics, site monitoring, and digital twin technologies (Grand View Research).
What percentage of commercial fleets use GPS tracking?
Approximately 69% of commercial fleet operators in North America and Europe now use GPS tracking on at least part of their fleet, driven by fuel savings, route optimisation, and insurance requirements (Berg Insight).
Are spreadsheets still used for asset tracking?
Despite the availability of cloud-based platforms, 46% of small and medium enterprises still rely on spreadsheets or paper-based systems to track their assets (Wasp Barcode Technologies).
What is the CMMS market size?
The computerised maintenance management system (CMMS) market is expected to reach US$2.1 billion by 2028, as organisations shift from reactive to preventive and predictive maintenance strategies (Fortune Business Insights).
How is the APAC asset tracking market growing?
The Asia-Pacific asset tracking market is growing at 15.2% CAGR, outpacing the global average of 13.4%. Rapid infrastructure investment and regulatory modernisation in Australia, India, and Southeast Asia are the primary drivers (MarketsandMarkets).
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