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This study examines strategies, participants, and growth opportunities in the North American mobile asset management market. Mobile asset management offerings are defined as solutions that use wireless tracking devices and cellular, location, and sensor technologies to remotely locate and monitor moveable assets that are outside of a company's four walls. Rich data analytics can also be included. Major use cases are: 1) Large pieces of company-owned eqipment located out in the field, 2) Trailers, and 3) High-value cargo that is in-transit from Point A for delivery to Point B. Key market trends, the competitive landscape, and potential growth opportunities are defined and discussed. Frost & Sullivan survey results regarding North American business preferences, plans and demands for mobile asset management solutions are also charted and analyzed. Many North American companies have moveable assets – field equipment, trailers, cargo in transit – located outside of the four walls. These assets typically represent a significant investment on the companies' part, and protecting them from theft was the initial impetus behind the creation of mobile asset tracking solutions. As needs became more sophisticated, the original mobile asset tracking category has expanded from simple GPS location tracking and alerts to encompass sensor monitoring, then rich analytics and more proactive planning. This is a market that is growing rapidly in terms of perceived value-add. Today, almost 3/4 of businesses with assets in the field expect their mobile asset management (MAM) needs to become more advanced during the next few years – and over half of current MAM users plan to expand their deployments over the near term. However, while the benefits of MAM become even more compelling – not just theft protection, but also increased productivity, more optimized utilization of assets, etc. – challenges exist for both customers and providers. Potential users can throttle back on adoption because of cost concerns and a perceived lack of internal expertise and resources to deal with the new information that will be uncovered. Providers are challenged to improve affordability, incorporate the right technologies at the right time, enhance integration opportunities, and differentiate against competitors.
Key Issues Addressed
Author: Jeanine Sterling
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