According to a Market Watch report, the asset tracking market will grow at a compound annual growth rate (CAGR) of 13.5% by 2027. The introduction of IoT asset tracking brings multiple benefits to all business types, let’s take a look at the top three trends in the asset tracking industry in 2021.
Improve supply chain visibility
Companies want to know where their equipment and products are at each stage of the supply chain. They wanted consistent visibility from the start of assembly to the final destination. Lack of visibility can result in lost revenue.
Through asset tracking and monitoring, companies can visualize their valuable assets every step of the way throughout the supply chain. Items cannot be lost when they have an asset tracking tag that can determine their location. With increased supply chain visibility, companies can have better control over inventory and products. Asset tracking is more than just knowing where an asset is.
Beyond location tracking
Asset condition monitoring is critical for some companies, especially in the healthcare industry. However, any company that needs to ensure that its assets remain in a specific condition will need an asset tracking system to monitor the condition of their assets. Typical conditions that can be monitored include temperature, pressure, and shock.
Asset monitoring through cloud computing allows you to visualize upcoming maintenance in real time, before it’s needed. This is a huge advantage because you won’t be surprised when maintenance is needed and you can be fully prepared. Understanding the condition of your assets ensures your company proactively maintains business-critical equipment before problems arise, giving you not only a competitive advantage, but also cost and compliance advantages.
Cloud-based solution
Cloud computing improves workflow by sending notification reminders before equipment needs to be repaired or updated. In addition to providing alerts about temperature changes and other asset conditions, cloud technology also enables companies to take preventive measures to save money.
Cloud computing helps with maintenance needs for asset tracking. Not only can it send alert reminders when maintenance is imminent, but it can also better predict maintenance tasks and asset conditions by using artificial intelligence and machine learning.
Palavras-chave: GPS positioning RTU
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