[July 28, 2017] |
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Top 3 Emerging Trends Impacting the Global Tracking-as-a-Service Market From 2017-2021: Technavio
Technavio's latest report on the global
tracking-as-a-service market provides an analysis of the most
important trends expected to impact the market outlook from 2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.
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Technavio has published a new report on the global tracking-as-a-service market from 2017-2021. (Graphic: Business Wire)
The global
tracking-as-a-service market is projected to grow at a CAGR of
almost 28% during the forecast period. Governments worldwide are
mandating GPS tracking in all new vehicles in a bid to maintain driver
safety. Vehicle tracking solutions offered through the cloud improve
fleet operator efficiencies at lower costs. The benefits of a PaaS cloud
model, which include rapid application development, customization and
integration, addition of new and different tracking devices, security,
and reliability, are fueling the adoption of tracking-as-a-service
technology.
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The top three emerging trends driving the global tracking-as-a-service
market according to Technavio ICT
research analysts are:
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Upsurge in use of mobile technoloy
-
Emergence of eye tracking systems
-
Use of electronic monitoring systems for offender monitoring
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Upsurge in use of mobile technology
"Enterprises have been using mobile technologies to manage their
supply chains and distribution systems in domestic and international
markets. Mobility in cold chain management systems is seeing innovation
in terms of wireless connectivity, advancements in M2M communication
systems, application development, and platform integration," says
Amrita Choudhury, a lead analyst at Technavio for research on IT
professional services.
The mobile-based tracking-as-a-service model will help enterprises to
track their products and vehicles on a real-time basis using mobile
devices. GPS-enabled fleet management solutions on mobile devices that
monitor the position of reefers are in great demand in the food and
pharmaceutical industries.
Emergence of eye tracking systems
"Eye tracking technology can be used as a software application or
hardware component to detect the gaze point of an eye movement. Eye
tracking systems are also used to understand human behavior by real-time
tracking of eye movements. The use of eye tracking systems in autonomous
vehicles such as driverless cars is growing at an exponential rate. Eye
tracking systems in autonomous cars ensure vehicle safety by tracking
real-time information on driving conditions," adds Amrita.
Leading companies in the automotive industry are also testing similar
solutions. Mercedes-Benz is testing eye tracking systems made by Smart
Eye in its F015 Luxury in Motion concept car. Driver monitoring systems
are installed in the vehicles to enhance the safety of vehicles. Eye
tracking is also used in fleet management to enhance operational
processes in transportation services. Eye tracking systems can be used
in tracking-as-a-service implementation models.
Use of electronic monitoring systems for offender monitoring
Devices geared with GPS systems allow near real-time location and create
geographic inclusion/exclusion zones for offenders. The use of
electronic monitoring reduces the number of offenders inside prisons.
This is helpful when the offense is not serious because holding the
offender in prison for short terms is an inefficient use of resources.
Tracking-as-a-service solutions integrated with electronic monitoring
systems can help to track and detect offenders. Cloud-based tracking
services are gradually adopted in electronic monitoring systems to
implement advanced tracking systems.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20170728005783/en/
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