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.

What is Tool Tracking Software?

So, tool tracking software (or tool management software, if you prefer) helps businesses like contractors keep tabs on their tools. Think of it as knowing where every hammer, wrench, and widget is at all times! It tracks their location and how they're being used. They use all sorts of tech to do this, like scanning barcodes when tools are checked out or using GPS to see where they are. Who uses this stuff? Well, general contractors, plumbers, electricians - anyone working on construction, fixing up houses, or doing commercial repairs. You'll also find it used by utilities, city governments, maintenance crews, field service & repair folks, and even HVAC pros, and more!

United States Tool Tracking Software Market Overview

With the construction industry booming, we're seeing more and more contractor businesses popping up across the country! Just check out these numbers from the U.S. Census in 2018spending on single-family construction alone was over USD 282 billion, and folks spent over USD 194 billion on residential improvements. We're talking additions, alterations, and big replacements here – not just your everyday maintenance. All this activity is fueling demand for contractors in general construction, electrical, HVAC, and more. And what's helping these contractors stay organized? Tool tracking software! Speaking of tools, the oil & gas sector uses tons of them, from drilling to building pipelines. Tool tracking software is helping them get organized by offering a bird's-eye view of tool use, cutting down on theft and losses (and overall costs!), and making purchasing and receiving way easier.

United States Tool Tracking Software MarketSegmentation 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- 

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-

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-

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

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We dive deep into the market using both qualitative and quantitative analysis, segmenting it based on economic and non-economic elements. Expect to see market value data in USD Billion for every segment and sub-segment. We'll pinpoint the region and segment predicted for the fastest growth and market dominance. Our geographical analysis highlights product/service consumption, revealing factors impacting each region's market. You'll get a competitive landscape view, ranking major players and outlining their new service/product launches, partnerships, expansions, and acquisitions over the last five years, plus detailed company profiles with overviews, insights, product benchmarking, and SWOT analysis. We provide a current and future market outlook considering recent developments, growth opportunities, drivers, challenges, and restraints in both emerging and developed regions. Expect an in-depth market analysis through Porter's five forces, insights into the value chain, and a market dynamics scenario with upcoming growth opportunities. Finally, we include 6-month post sales analyst support.

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