The use of the Internet of Things (IoT) for asset tracking has been facilitating the management, monitoring, and collection of information on assets across various market niches.
End-to-end data transmission enables quick visualization for more assertive decision-making with less waste, optimizing processes and ensuring better results.
However, new developments indicate that the use of IoT in this niche points to a future where asset tracking will be more accurate, have greater reach, and transmit information much more comprehensively and continuously.
By combining different technologies that will integrate various connectivity solutions via satellite and Wi-Fi, assets can be managed globally both indoors and outdoors at a more affordable cost, making tracking and logistics processes more efficient across various market segments.
In practice, “remote” locations where terrestrial networks do not reach or are not effectively present will receive continuous coverage through the combination mentioned above. Data collection and transmission about assets will occur in a mixed manner using new satellite connectivity technologies, 5G, or LPWAN networks, utilizing whichever is available and most suitable for the application.
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One specific area that can greatly benefit from this development is livestock farming, as it will soon be possible for farmers to manage their herds in real-time in remote areas, accessing information such as location, fertile period, and the health status of each animal, which not only prevents accidents and disease transmission but also increases herd productivity and profitability.
In a “macro” view of the market, the new tracking possibilities meet a growing demand from consumers, especially in the West, who are increasingly concerned about the origin of the products they consume.
Knowing where a food item or object came from and its journey to the final destination has become a significant issue for current generations, who value not only quality and authenticity but also their stance in a market where organic and cruelty-free products are increasingly sought after.
This demand shows that future IoT applications in asset tracking will provide information not only to producers but also to consumers, creating an increasingly connected ecosystem.
Read also: Most relevant IoT applications in companies
The new solutions will also impact the digitalization of the supply chain, making it more agile and transparent. According to Gartner, an American consulting firm, by next year, at least 50% of large global companies will use IoT, AI (Artificial Intelligence), and advanced analytics to optimize their supply chain operations. In the long term, in a few years, all major market players will apply the same technologies in their own chains, making the monitoring of all processes much more detailed.
The future of asset tracking through IoT will bring specific solutions for specific problems within a specific sector, delivering the value each market niche needs to optimize results and reduce costs through effective asset management.
Even now, the use of IoT offers various possibilities and optimizes processes in numerous areas. If you want to discover how it can improve your company’s processes and results, contact our team, and we will help you implement this solution in your business.
