The tool tracking software market is projected to have a considerable CAGR during the forecast period. Contracting and other organizations use tool tracking software, also known as a tool management software to maintain or manage their tool inventory by keeping track of their physical location and usage. Various technology such as in-out entry check through barcode and GPS, are used to record tool usage and keep track of them in the inventory.

The primary factor driving the tool tracking software market is the asset tracking software in the transportation and logistic sectors. For a positive shopping experience, asset monitoring software market trends have also been supported by the need for asset tracking software in the e-commerce sector to provide customers. In addition to this, general, plumbing, and electrical contractors that work on construction projects, as well as individual residential and commercial repairs, typically employ tool tracking software. Some of the most prominent customers include utilities and municipalities, maintenance groups, field service & repair firms, HVAC contractors, and other contractors. Some of the most prominent market players include Zebra Technologies Corp., Honeywell International, Inc., Datalogic S.P.A, Trimble Inc., Stanley Black and Decker, Inc., among others. In 2019 July, T-Mobile introduced a narrowband loT asset tracking service, which was the first of its kind in the United States. In March 2019, Trimble launched the TMT ServiceConnect module, allowing fleet shops using Trimble's TMT Fleet Maintenance (TMT) software to connect to more than 4,500 medium and heavy-duty service facilities across North America, including numerous Original Equipment Manufacturers (OEM) dealers. Licensed  TMT users will have direct access to thousands of service centres, allowing them to get their equipment back on the road faster.

Market Coverage

• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segments Covered

o By Type

o By Application

• Regions Covered

o North America

o Europe

o Asia-Pacific

o Rest of the world

• Competitive Landscape: Zebra Technologies Corp., Honeywell International, Inc., Datalogic S.P.A, Trimble Inc., Stanley Black and Decker, Inc.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?

o Deviation from the pre-COVID-19 forecast

o Most affected region and segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Tool Tracking Software Market by Segments

By Type

• Cloud-Based
• Web-Based

By Applications

• Large Enterprises
• SMEs

Global Tool Tracking Software Market by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe 

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific 

Rest of the World

• Latin America 
• Middle East & Africa