The Internet of things allows industrial assets to respond based on the information gathered via sensors. IoT technology is expected to reach outstanding levels in the coming years, with automation being perceived as the streamlined management source.
What is IoT asset tracking?
Asset tracking facilitates knowing the exact position/location of the item remotely. Many companies have started adopting smart asset management to get error-free and accurate calculations about inventories in the current scenario. IoT-based solutions give the information and improve the assets’ inclinations with predictive maintenance and self-correction.
“According to ResearchAndMarkets.com, it is predicted that by 2027, there will be 267 million active asset trackers in use globally for agriculture, supply chain, construction, mining, and other markets”.
IoT-based asset tracking systems use sensors and asset management software to track things automatically. Assets to be followed with the connected sensors, which periodically and continuously broadcast their location information over the internet; the software then demonstrates those updates for you to see. The many types of IoT-based asset tracking systems vary in how the location information is transferred, usually through GPS, Wi-Fi, or cellular networks. With sensor technology introduced to the time where the costs are comparatively low, the most vital investment now linked with IoT asset tracking is Internet connectivity. This sector proceeds to develop and will hopefully drive even more substantial growth as more lower-cost options arise.
How an Assets tracking solution helps you?
Poor management of physical assets can be damaging to productivity and negatively affect turnover. Your business could be losing thousands of dollars in time spent looking for equipment; in some circumstances, like architecture, the value of lost assets can also add up significantly. Asset tracking gives a way to solve these and other hurdles, no matter what industry you’re in:
Manufacturing companies
Those working in large areas can lessen the amount of time they spend to find elements, devices, and equipment.
Construction companies
It will help to prevent theft and stay on the plan by keeping better track of stuff.
Hospitals
Hospitals can enhance patient care and decrease waiting times if the machine is more quickly located; they can also track equipment connected with external patient care and home health helpers.
Logistics businesses
They can use it to stay connected to the cargo’s location to improve delivery times.
Agriculture
Farmers can use it to track livestock and monitor their farms, track harvested yields and their locations in many storage plants, and maintain harvesting machine locations.
Educational institutions
IoT Assets tracking helps education organizations keep track of school resources such as laboratory equipment, laptops, library books, etc.
Mining companies
IoT Assets tracking helps solutions get notifications if miners work in unsafe work zones, guaranteeing their safety.
Benefits of Assets tracking solution
Since we know, asset tracking is essential for your business. IoT tracking solutions can provide a plethora of benefits, including:
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Improved Efficiency & Independence
IoT Assets tracking helps you to stay focused on other critical tasks during the day. By organizing and automating the work performed by your IoT assets, your team can concentrate on more pressing actions, like keeping your customers satisfied. As automated IoT Assets tracking solutions decrease human error, you’ll also improve productivity.
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Increase Device Visibility and Uptime
With real-time data-triggered notifications and smart sensors, you could apply predictive maintenance to the assets in your IoT ecosystem. Unlike preventative maintenance, it helps decide precisely when a device is expected to break or is losing. This means you’ll prevent issues before they arise and improve the durability and productivity of your devices.
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Strategic Cost Tracking
IoT Asset Management equips businesses with identifying gaps between where the money is utilized versus where it should have been used. This aspect helps you save a lot of costs, as you know where you might be losing money. Besides, it collects data from different connected devices, enabling you to gain a track-record of various IoT devices. This aspect helps you invest in the apt or most suitable IoT device for your business and fosters better cost-savings by retiring unnecessary and unprofitable devices.
To Wrap up
There are ample reasons why IoT is Remodeling Asset Tracking. It can be predictive analysis, real-time monitoring, cloud-based data management, and many more smart features that establish intelligent industrial processing. You can streamline the tasks with a single dashboard and save your time on complex functions that can be addressed through automation.
We at Teksun help businesses in IoT asset tracking and offer robust predictive maintenance services. Find out more of what and how our tracking solution enriches your business.
