LONDON--(BUSINESS WIRE)--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.
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:
- Upsurge in use of mobile technology
- 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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