United States Tool Tracking Software Market Size By Product (Cloud-Based and Web-Based), By Application (Large Enterprises and SMEs), By End-Use (General Contracting, Electrical Contracting, Plumbing Contracting, and Others) And Forecast
Report ID: 134805|No. of Pages: 202
United States Tool Tracking Software Market Size By Product (Cloud-Based and Web-Based), By Application (Large Enterprises and SMEs), By End-Use (General Contracting, Electrical Contracting, Plumbing Contracting, and Others) And Forecast
United States Tool Tracking Software Market Size And Forecast
United States Tool Tracking Software Market was valued at USD 4,871.18 Thousand in 2020 and is projected to reach USD 10,727.18 Thousand by 2028, growing at a CAGR of 10.40% from 2021 to 2028.
Driving the demand for contractor works relating to general construction, electrical, HVAC, among others, is further driving the demand for tool tracking software in the United States. The United States Tool Tracking Software Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
>>> Get | Download Sample Report @ –https://www.verifiedmarketresearch.com/download-sample/?rid=134805
What is Tool Tracking Software?
Tool Tracking Software, also known as tool management software is utilized by contracting and other businesses to maintain or manage the inventory of tools by keeping track of their physical location and usage. Various technologies are employed to record the usage and maintain track of tools in the inventory, such as in-out entry check through barcode, and GPS among others. The users of tool tracking software mainly include, general, plumbing, and electrical contractors, working in servicing construction projects, individual residential and commercial repairs among others. Some of the more prominent users under contractors includes utilities and municipalities, maintenance groups, field service & repair companies, HVAC contractors etc.
>>> Ask For Discount @ – https://www.verifiedmarketresearch.com/ask-for-discount/?rid=134805
United States Tool Tracking Software Market Overview
The rise in the construction sector is also driving the growth of contractor businesses in the country. According to the U.S. Census, in 2018, the construction spending by single-family was estimated to over USD 282 billion, along with residential improvements estimated to be over USD 194 billion. Notably, the improvements include additions, alterations, and major replacements, while excluding maintenance and repairs. These trends are expected to drive the demand for contractor works relating to general construction, electrical, HVAC, among others, which is further driving the demand for tool tracking software in the United States. A wide range of tools is employed in the oil & gas sector for operations ranging from drilling to pipeline construction. The use of tool tracking software is estimated to streamline the various oil & gas related operations in a systematic manner providing advantages such as offering enterprise-wide visibility into tool utilization; lower tool theft, loss, and overall tool costs; reorganize purchasing and receiving.
United States Tool Tracking Software Market: Segmentation Analysis
The United States Tool Tracking Software Market is segmented on the basis of Product, Application, and End-Use.
United States Tool Tracking Software Market by Product
- Cloud-Based
- Web-Based
To Get Summarized Market Report By Product:- Download Sample Report Now
Based on Product, the market is bifurcated into Cloud-Based and Web-Based. Cloud-Based Software accounted for the largest market share in 2020 and is projected to grow at the highest CAGR during the forecast period. Cloud-based tools allow users to be able to access software applications that are running on shared computing resources over the internet. The features that can be shared through cloud-based software include disk storage, memory, processing power and more. Cloud-based tools are Software as a Service that allows users to access various application or data over the internet.
United States Tool Tracking Software Market by Application
- Large Enterprises
- SMEs
To Get Summarized Market Report By Application:- Download Sample Report Now
On the basis of Application, the United States Tool Tracking Software Market has been segmented into Large Enterprises and SMEs. Large Enterprises accounted for the largest market share in 2020 and is expected to grow at the highest CAGR. Increasing focus on managing large volumes of enterprise data is a leading factor that has boosted the adoption of tool tracking system in large enterprises. The United States market has a broad customer base of large enterprises that are utilizing the tool tracking system to reduce cost and improve process.
United States Tool Tracking Software Market by End Use
- General Contracting
- Electrical Contracting
- Plumbing Contracting
- Others
To Get Summarized Market Report By End-Use:- Download Sample Report Now
On the basis of End-Use, the United States Tool Tracking Software Market has been segmented into General Contracting, Electrical Contracting, Plumbing Contracting, and Others. General Contracting accounted for the largest market share in 2020 and is expected to grow at the highest CAGR. General contracting tool tracking software helps general contractors in reducing tool loss and the associated costs, increasing tool and equipment management efficiency, improving communication throughout organization, and providing the real-time data executives need for strategic decision making.
Key Players in United States Tool Tracking Software Market
The “United States Tool Tracking Software Market” study report will provide a valuable insight with an emphasis on the US market. The major players in the market are Asset Panda, ToolWatch, GigaTrak, ToolHound, and Tadcon, and Others.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
United States Tool Tracking Software Market Report Scope
| Report Attributes | Details |
|---|---|
| Study Period | 2017-2028 |
| Base Year | 2020 |
| Forecast Period | 2021-2028 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Thousand) |
| Key Companies Profiled | Asset Panda, ToolWatch, GigaTrak, ToolHound, and Tadcon, and Others. |
| Segments Covered |
|
| Customization scope | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Top Trending Reports
Global Autonomous Technology Market Size And Forecast
Global Preformed Firestop Devices Market Size And Forecast
Research Methodology of Verified Market Research
To know more about the Research Methodology and other aspects of the research study, kindly Get in touch with our sales team at Verified Market Research.
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post sales analyst support
Customization of the Report
In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
|
|
| Demand side |
|
|
Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|---|---|
|
|
