Asset tracking is one of the most widely deployed Internet of Things (IoT) applications. According to Juniper Research, there will be a 27% increase in asset tracking usage over the next five years, growing from 90 million in 2020 to 114 million by 2025. With this increase, IoT solutions need to enable the efficient and reliable monitoring of assets as they move through the production cycle, and often throughout large warehouses and campuses. Having access to reliable location data is increasingly valuable to production managers, reducing the potential for assets to be misplaced or lost entirely during their journey.
Many industries are investing in smart technologies to replace legacy systems with automated asset management solutions. Legacy asset management systems are often power hungry and require multiple devices, software and services from numerous vendors, resulting in increased complexity and cost.
At the same time, IoT solutions can be expensive or impractical to implement because of the vast area the asset needs to travel. The main difficulty is linking remote sensors wirelessly to the internet across a variety of sites, both indoors and outdoors – even across different countries – in a seamless manner. The ideal wireless solution should be cost efficient, low power and secure, with the ability to work over long distances. By coupling those features with a low cost and lightweight solution with a standardized infrastructure, the result is a reliable tracking solution that allows logistics operators to reduce downtime during transportation.