The global deal tracker as a service market is in ascendency in recent years owing to increasing demand for deal tracker as a service to improve operational efficiencies.
The size of the global market for Deal Tracker as a Service is expected to reach USD 2123.03 million by 2029, expanding at a compound annual growth rate (CAGR) of 11%.
Covid-19 Impact & Market Status
As in other industries, the covid-19 pandemic has impacted the global deal tracker as a service market and all its sectors. The first quarter of 2020 was unanticipated. The dual effects of the pandemic reverberated across all the segments of global deal tracker as a service market due to business closures, uncertain halt to IT operations, and other factors. However, the covid-19 pandemic has led to growing consumer awareness, increased use of digital technologies, businesses placing higher value on solutions that improve operational efficiency, reduce overhead costs, and others. This is gradually improving the performance of global deal tracker as a service market.
Cloud Based segment to be Highly Popular in Forthcoming Years
The cloud based segment of deal tracker as a service is leading the global deal tracker as a service market in revenue share and is predicted to remain at the top of the market during the forecast years because of the fact that businesses are reluctant to implement the solution due to the growing privacy issues in numerous industries. Also, today even the tracking software could be interfered with by intruders, creating a security hole which is increasing the need of deal tracker as a service.
Retail And Manufacturing Segment To Earn Highest Revenue
The retail and manufacturing segment is the foremost application for the deal tracker as a service which is leading the global deal tracker as a service market in revenue share and is predicted to remain at the top of the market during the forecast years because of time savings and increased efficiency as a result real-time data.
Transportation and Logistics segment is also rising at a rapid rate as vehicle maintenance is improved by the tracking technologies utilised by the transportation and logistics sector. Improved maintenance contributes to a longer lifespan for automobiles. Additionally, it might aid in avoiding delays brought on by potential vehicle breakdowns.
North America To Dominate The Global Deal Tracker As A Service Market
North America will remain atop the market in revenue share and is predicted to remain at the top of the market during the forecast years because of rising automation technology advancements, particularly in the region's logistics and transportation industries. The use of delivery or warehouse robots is expanding quickly, which is why more people are choosing to employ these services. The market for criminal offender monitoring is growing in the area as well. The majority of US regions have made the use of offender tracking technology for sexual offenders mandatory. As North American regulatory agencies encourage the installation of GPS monitoring devices in private passenger vehicles, the industry will likewise continue to expand in the region.
The key factors such as stringent regulations imposed on front and back offices to adopt efficient record keeping automation, changes in market structure, maintaining multiple inbound sources can be challenging are some key factors driving the global deal tracker as a service market.
Owing to benefits such as elimination of on-premise infrastructure, reduced data storage costs, improved business efficiency, security, reliability, ability to get a comprehensive view of all data, reduced operational risks, connectivity, the deal tracker as a service is experiencing rapid adoption thus fostering remarkable progress of global deal tracker as a service market.
The increasing necessity to manage assets, inventories, post-trade workflow of data archiving, storing and more has improved the reliance on this technology service furthering the global deal tracker as a service market.
The global deal tracker as a service market rise is also expected to be aided by the increasing awareness among the people regarding the benefits of using these services and also the technological advancements being made in this field.
A specific cloud-based digital monitoring system called tracking-as-a-service was created to assist many sectors with their regular business operations. As a result, tracking-as-a-service systems provide a suitable tracking solution so that businesses may keep track of specific data about their operations and assets. For a company to improve its manufacturing and logistical processes and maximise financial efficiency, tracking-as-a-service is crucial. This Deal Tracker as a Service (DTaaS) Research Give Idea To focuses on the knowledge, needs, and desires of your target market.
The global deal tracker as a service market is on the rise due to healthy competition and high demand, and it is predicted to grow nearly USD 5.97 billion in 2029 at a CAGR of 18.7 percent during the forecasted years.
In order to improve customer experience and asset maintenance, tracking-as-a-service in the retail industry allows users to track and save information about user shopping carts. Additionally, it is predicted that the market will develop during the forecast period due to an increase in digital or smart infrastructure across the several sectors due to an increase in the demand for improving logistics supply chains.
The requirement for improved fleet operator efficiency systems is expected to increase throughout the projected period, which will lead to a noticeable growth in the global deal tracker as a service market. Additionally, the global deal tracker as a service market is anticipated to rise as eye-tracking devices become more prevalent and smartphone technology is used more frequently. Additionally, a sharp increase in the number of investments in improved supply chain management and logistics systems is anticipated to fuel global deal tracker as a service market expansion.
At the same time, the global deal tracker as a service market is constrained by the rise in privacy concerns over electronic surveillance technologies. Increased government rules to promote GPS tracking across all cars are also very crucial for the further growth of global deal tracker as a service market. Also, limited technology budgets are impacting the demand of deal tracker as a service.
Furthermore, deal tracker as a service driving performance, investment wealth management, reduce enterprise risk, and fight financial crime. Moreover, the deal tracker as a service is improves operational efficiency, eliminates the need of on-premise hardware, IT management overheads which further allows the firms to focus on key business activities. These factors have encouraged further adoption of deal tracker as a service. This is anticipated to be a growth opportunity to the global deal tracker as a service market.
The global deal tracker as a service market is rising rapidly and there is healthy competition among the top players like IBM, Oracle, HP, Amazon Web Services, Dell, Zebr technologies, Trimble, Topcon, Stanley Black and Decker, PCCW Solutions, Mojix, Midmark, Infor, Impinj, and DataLogic S.P.A among others.
Latest Innovations in the Global Deal Tracker as a Service Market: A Snapshot
- Expandable asset tracking devices were introduced by PCT in September 2020 on the Geotab Marketplace. Through the Geotab Marketplace, Geotab provides a vast ecosystem of beneficial, business-focused applications and add-ons that aid in giving companies the resources they need to more effectively manage their fleets. Phillips Connect Technologies has been added to the Geotab Marketplace, giving customers of that platform access to a number of solutions that can help them make the most of their driving time by improving asset visibility and usage.
Deal Tracker as a Service Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 5.97 billion|
|Growth Rate||CAGR of 18.7 % during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||IBM, Oracle, HP, Amazon Web Services, Dell, Zebr technologies, Trimble, Topcon, Stanley Black and Decker, PCCW Solutions, Mojix, Midmark, Infor, Impinj, and DataLogic S.P.A among others.|
Key Segments of the Deal Tracker as a Service Market
Type Overview, 2019-2029 (USD Billion)
- Cloud Based
- On Premises
Application Overview, 2019-2029 (USD Billion)
- Government and Defence
- Retail and Manufacturing
- Consumer Goods
- Transportation and Logistics
- Energy and Utilities
Regional Overview, 2019-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa