What Are IoT Asset Tracking Solutions?

What Is IoT Asset Tracking?

Internet of Things (IoT) asset tracking involves using IoT-enabled devices to track the location and status of mobile assets and equipment. An IoT asset tracking system can provide real-time visibility into the whereabouts of critical assets.

An asset location solution can also generate data that can be used to improve asset utilization and optimize maintenance schedules. IoT asset tracking technology can be used in many applications and business processes, including vehicle fleet management, inventory control, condition monitoring, supply chain management, and security.

IoT-based asset tracking systems are becoming increasingly popular because they offer several advantages over traditional tracking methods.

For example, IoT-based asset management systems are typically more accurate than GPS-based systems, and they can be deployed quickly and easily. The Global Asset Tracking Markets Report 2022 says, “The market will reach $60.7 Billion by 2027, growing at 17.1% CAGR.”

Why Are IoT Tracking Devices Beneficial for Asset Management?

1. IoT tracking devices can help organizations keep track of their assets in real-time.

2. IoT tracking devices can help organizations reduce the costs associated with lost or stolen assets.

3. IoT tracking devices can help organizations improve their asset utilization rates and enable predictive maintenance.

4. IoT tracking devices can help organizations better manage their inventory levels.

5. IoT tracking devices can help organizations keep their employees safe.

What Are Asset Tracking Sensors?

Asset tracking sensors play a crucial role in IoT asset monitoring solutions. By continuously monitoring the position and movements of an asset, IoT sensors enable remote asset management and provide businesses with real-time visibility into their assets.

There are various types of asset tracking sensors available on the market, each with its own unique set of features and capabilities. The most common asset trackers used in IoT asset tracking solutions are GPS asset tracking sensors, RFID asset tracking sensors, and Ultrasonic asset tracking sensors.

GPS asset tracking sensors use a network of satellites to determine the precise location of an asset. GPS asset tracking sensors are typically used for monitoring high-value assets that need to be monitored in real-time, such as vehicles, trailers, and construction equipment.

RFID asset tracking sensors use radio waves to communicate with RFID tags that are attached to assets. RFID asset tracking sensors are ideal for managing large fleets of assets as they provide businesses with the ability to track multiple assets simultaneously.

Ultrasonic asset tracking sensor uses sound waves to track the movements of an asset. Ultrasonic asset tracking sensor is often used in combination with other types of asset tracking sensor as it is not as accurate as GPS or RFID asset tracking sensor alone.

What Are Asset Tracking IoT Solutions?

Asset tracking IoT solutions are cloud based systems that use sensors and other IoT connected devices to track the location and status of valuable assets in real-time. These systems can be used to track a wide range of assets, including inventory, vehicles, equipment, containers and people.

Asset tracking IoT solutions typically use radio frequency identification (RFID) tags or GPS tracking devices to collect data on asset location. This data is then transmitted to a central server, where authorized users can access it.

Asset tracking IoT solutions offer many benefits, including improving asset utilization, reducing theft and loss, and optimizing asset deployments. As asset tracking IoT solutions continue to evolve, they will become increasingly commonplace in various industries.

What Are The Benefits of Asset Tracking IoT Solutions?

IoT asset tracking solutions can help you better manage inventory and improve operations. But these are not the only benefits of an IoT asset tracking solution. IoT-based asset management systems offer many advantages over traditional approaches to asset tracking IoT enables:

• Real-time data: IoT technology can provide real-time data on the location and condition of assets. This can be immensely helpful in ensuring that assets are adequately maintained and used and in preventing theft or loss.
• Integrations: Asset IoT devices can often be integrated with other business systems, such as inventory management systems. This provides a more holistic view of assets and can help businesses make more informed decisions about their use.
• User-Friendly: IoT-based asset management systems tend to be more user-friendly and accessible to deploy than traditional tracking systems. This makes them an increasingly attractive option for businesses of all sizes.
• Exceptional battery life: IoT-based systems often offer superior battery life compared to other types of tracking devices.

As a result, IoT asset tracking is a more efficient, accurate, and cost-effective way to manage assets. In real-time, organizations can pinpoint an assets location and that is the true value of IoT asset tracking solutions.

Use Cases For IoT Asset Tracking

IoT asset tracking is a versatile technology that can be adapted to various individual business and industry use cases. Here are some of the sectors in which IoT asset management systems have been successfully developed:

• Manufacturing: IoT asset tracking is crucial for the manufacturing and industrial industry. Connecting physical assets to the Internet allows for real-time monitoring and tracking of those assets. This information can be used to improve efficiency, optimize production, and reduce costs. IoT asset tracking can also be used to monitor safety and regulatory compliance in the workplace. For example, it can track the location of hazardous materials or dangerous machinery. In the event of an accident, IoT asset tracking can help first responders quickly locate and identify the source of the problem. As the IoT evolves, we can expect to see even more use cases for IoT asset tracking in the manufacturing and industrial industry. Learn more about manufacturing asset tracking IoT.
• Automotive: IoT asset tracking can play an essential role in the automotive industry. For example, it can track vehicles during shipping and delivery. This information can help ensure that vehicles are delivered on time and in good condition. IoT asset tracking can also be used to monitor the condition of cars during storage and maintenance. This information can help to prevent damage and improve the efficiency of repairs. In addition, IoT asset tracking can be used to monitor the performance of vehicles during use. This information can help identify problems early and improve vehicle operation safety. Overall, IoT asset tracking can provide a wide range of benefits for the automotive industry. Learn more about Radiant’s IoT asset tracking solution for the automotive industry.
• Data Centers: IoT asset tracking can improve the efficiency of data center operations. By tracking the location and status of assets, data center managers can more easily identify assets that need to be repaired or replaced. Additionally, IoT asset tracking can help data center managers optimize their assets’ utilization. By understanding which assets are being used most frequently, data center managers can ensure that those assets are properly maintained and located in areas that can be easily accessed. IoT asset tracking can also help data center managers to reduce the risk of theft or loss by providing real-time visibility into the location of assets. If an asset is lost or stolen, data center managers can quickly determine its last known location and take steps to recover it. IoT asset tracking can also help data center managers improve their facilities’ safety by providing real-time visibility into the location of assets. In an emergency, data center managers can quickly identify the location of assets and take steps to evacuate them. Learn more about data center asset management.

Radiant IoT Asset Tracking Solutions

IoT asset tracking is an essential solution for businesses that want to keep track of their physical assets.

Radiant provides IoT asset tracking solutions that are reliable and easy to use. With Radiant, companies can monitor their assets in real-time, creating a secure and efficient asset management system.

In addition, Radiant’s IoT asset tracking solutions are scalable, so businesses can quickly expand their asset tracking system as their needs change. With its comprehensive IoT asset tracking solutions, Radiant is the ideal partner for companies that want to streamline their asset management process.

To learn more about our IoT asset tracking solutions, be sure to request your demo below.

Advantages of IoT Asset Tracking

• Improved accuracy: Asset tracking IoT asset tags can be equipped with sensors that provide real-time data on an asset’s location, allowing for more accurate fixed asset tracking.
• Reduced losses: IoT asset tags can help businesses to keep track of their assets and prevent loss or theft.
• Increased efficiency: IoT asset tags can streamline the process of tracking assets, saving businesses time and money.
• Reduce costs: IoT asset tracking can help businesses to save money by reducing the need for manual labor and eliminating the need for paper records.