Albany, NY -- (SBWIRE) -- 06/14/2018 -- The global asset tracking and inventory management solutions has already attained a multi-billion dollar status and is expected to grow at an impressive pace between 2018 and 2026. The market is expected to gain from various macro-economic and industrial factors. Furthermore, the pressing need to optimize product lifecycle management will stoke the demand for asset tracking and inventory management solutions. The report presents insights into key growth drivers and potential threats. It also includes valuable insights from industry leaders.

The market is expected to witness lucrative prospects in Asia Pacific. The demand from the Middle East is also expected to rise in the coming years. The expanding retail industry and technological developments witnessed in the last couple of years are fuelling the demand for asset tracking and inventory management solutions. Deploying these solutions can help companies increase their return on investment, reduce search time invested on misplaced assets, and improve cost savings. These advantages are coveted across various industries. Therefore, the rising ecommerce industry will create lucrative prospects for the market. Quick delivery is of prime importance to ecommerce companies if they aim for profit. Considering their functions, adopting asset tracking and inventory management solutions can help these companies achieve operational efficiency. This is a key factor boosting the global asset tracking and inventory management solutions market.

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For an in-depth review, the report has segmented the market based on various parameters. By component, the hardware segment held leading share in the global market. In terms of industry, the market is expected to gain significantly from the growth witnessed in the ecommerce sector. By application, the rising use of asset tracking and inventory management solutions for warehouse management is expected to create lucrative prospects for growth.

Regionally, Asia Pacific is expected to offer attractive growth opportunities to the asset tracking and inventory management solutions market. The presence of several large manufacturers of consumer goods will spur the demand for asset tracking and inventory management in Asia Pacific. Furthermore, an increasing number of industries are likely to adopt these solutions to improve their production efficiency and ensure high quality in products they offer.

The report also profiles a few prominent companies in the global asset tracking and inventory management solutions market. These include EMS Barcode Solutions, Chekhra Business Solutions, ASAP Systems, Epicor Software Corporation, Datalogic S.P.A., LLC, Microsoft Corporation, JDA Software, Oracle Corporation, Honeywell International Inc., Lowry Solutions Inc., Stanley Black & Decker, Inc., and others. In this section the report studies in detail various strategies adopted by the key players and the effect of the same on the global asset tracking and inventory management solutions market.

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