IoT asset tracking is more than just a fad now that more than 10 billion devices are connected to the Internet worldwide. Data collection and transmission in real time via networked devices and specialized digital systems like Asset Tracking Software.
From satellite navigation systems and smart speakers to Wi-Fi-enabled thermostats and fitness trackers, IoT is omnipresent. By 2025, the worldwide IoT market might be worth more than $1.5 trillion.
Because of its potential to reduce costs, improve data quality, and spark a fourth industrial revolution, the Internet of Things is becoming a must-have for modern businesses and their operations, especially when keeping tabs on and valuing possessions.
This article aims to shed light on how the Internet of Things (IoT) can be used with asset-tracking technologies to better manage the tracking of crucial company assets. Also, we’ll learn which businesses and organizations may gain the most from implementing IoT asset tracking.
Define an Internet of Things Asset Tracking System
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The term “Internet of Things” (IoT) describes the interconnection of disparate entities and entities through the Internet. Intelligent analytics relies on sharing data and using powerful computing resources to generate valuable insights.
As consumers, we extensively use the IoT in our day-to-day lives. Wear a fitness wristwatch to keep tabs on your pulse and energy expenditure. Have you ever used Google Maps to determine the shortest way to go somewhere? How about using your phone to regulate the temperature in your house? What we have here are all manifestations of the Internet of Things.
Connectivity options, including Bluetooth, Wi-Fi, cellular networks, LPWAN, RFID, and satellite, enable the IoT sensors and chips to communicate data to the cloud. The information is then analyzed by computer programs and displayed to the user via an alarm system.
No human involvement or control is required for the Internet of Things. When utilized to facilitate asset tracking, which is the monitoring and administration of physical assets as they are transferred from one location to another, it can have a revolutionary effect on enterprises.
However, the interconnected nature of IoT devices greatly expands their utility for inventory management. Tags like Barcodes, GPS, and RFID can be used with IoT technology to make tracking company assets more accessible and accurate, decreasing the likelihood of theft, loss, or damage.
Advantages of Using IoT to Keep Track of Assets
Devices and the appropriate software tools can significantly enhance the process of asset tracking, which is an essential corporate function. The Internet of Things (IoT) is constantly developing, and when applied to asset tracking, it provides numerous advantages.
Monitoring of Assets in Real Time
A solution for tracking assets can be accessed remotely at any time of day or night.
Extensive Insights from the Data
Using the Internet of Things, you will learn much more than just the physical location of your assets. Better strategic choices and operational efficiencies can be achieved using insightful data.
Fewer Disruptions in the Supply Chain
Using IoT data, you can track assets at any point in the supply chain and make sure they are delivered in perfect shape. To build IOT software, you can contact the IOT Development Company in Dubai.
Time is better managed, and fewer mistakes are made.
The Internet of Things (IoT) automates asset tracking processes, saving time and reducing the likelihood of human error.
Lessening of Losses Due to Theft
Internet of Things (IoT) gadgets and asset-tracking software help guarantee nothing is moved around without permission. The Internet of Things facilitates theft recovery greatly.
IoT asset tracking: how does it function?
The three main components of the Internet of Things asset tracking are tracking devices, a connecting method, and remote management software.
To properly track assets, IoT devices need to meet several criteria. They must be tiny enough to safely attach to physical objects but technologically advanced enough to record meaningful analytics. The device’s shape is also determined by its intended function.
In addition to being affordable, IoT devices must be able to monitor extensive distances (often worldwide). The amount of energy used is also crucial. One-third of all industrial asset tracking requires devices with a battery life of more than five years. Thus, this is an essential consideration for leaders and innovators.
Many Internet of Things (IoT) devices are available today, with several OEMs providing custom and off-the-shelf options. Bluetooth Low Energy transmitters are an everyday hardware companion to software solutions for asset tracking.
- GPS-tracking tags
- Sensing devices that monitor energy use
- Electronically controlled locks
- camera surveillance
- The use of automatic light switches
- Carbon monoxide and smoke detectors
- Computer system safeguards
Which are the top 10 Internet of Things asset trackers?
There are now dozens, if not hundreds, of asset monitoring products, programs, and services on the market thanks to the proliferation of asset tracking technologies. We have compiled a list of the top ten Internet of Things asset trackers available today.
Samsara
Samsara is an industry leader in the Internet of Things (IoT) and offers a variety of asset-tracking devices that customers may use for continuous monitoring or scheduled checks. While the Samsara AG24 is optimized for real-time tracking of powered assets, the AG46 provides a low-power option with programmable GPS check-ins at a more reasonable price.
Omnitracs
Omnitracs’ comprehensive services include fleet telematics, driver and vehicle performance monitoring, and trailer tracking, explicitly focusing on tracking vehicle fleets. Since the company specializes in fleet management, its tracking services offer invaluable data beyond just the location of assets, such as diagnostic and fuel information, and the ability to perform predictive maintenance.
HILTI GO! Management of Assets Tracking
If your construction company needs to keep track of tools and equipment on the project, Hilti’s ON! Track solution comprises software, hardware, and support. Many smart tags use both Bluetooth low energy (BLE) and barcodes. Contractors can use the cloud-based software management system to keep track of tools, report missing items, and schedule routine maintenance.
Full AT&T Fleet Ready
LTE-M connectivity, a low-power wide-area network technology, is essential to AT&T’s Fleet Complete service. The AT1 is one of the most minor (4″ by 2″) sensors available, and it records GPS coordinates in addition to other data such as humidity, temperature, light intensity, and impact. The solar-powered system is ideal for tracking assets such as those used in the healthcare, construction, and manufacturing sectors.
Azuga
Azuga is a fleet-tracking expert offering sensors for keeping tabs on portable machinery and cargo containers. The GPS and cellular technology-powered sensors can operate on a single battery for six months. Azuga’s geofencing feature allows you to create a virtual perimeter around your property and be notified whenever an asset leaves that area.
Keeptruckin
Keeptruckin’s asset trackers are ideal for use in logistics, as they can be left on at all times thanks to an integrated solar panel or a direct power connection from the trailer. The sensors communicate their GPS locations and other data via cellular connectivity to a server, which users may access using cloud-based software. Keeptruckin is geofence-enabled, so you’ll get a notification if a truck is spotted outside of a predetermined area.
EROAD EROAD
EROAD EROAD provides integrated asset tracking as part of its fleet management services. With their tracker, users can monitor shipping fleets and ensure they comply with regulations thanks to its 4G connectivity and centralized dashboard. The EROAD tracker may be powered by a 12- or 24-volt power supply, and its batteries can last up to six months.
ATTI
ATTI Advanced Tracking Technologies Inc. (ATTI) enables real-time GPS monitoring of various objects, including trailers, heavy equipment, boats, and automobiles, which their owners can track. ATTI’s tracking devices are compact and straightforward to install, powered by 4 AAA batteries or a 5V external power line. The trackers have a storage capacity of one year’s worth of data and a battery life of about 1.5 years.
Asset Management Software
AMS is a fleet management company that uses GPS and other asset-tracking methods to keep tabs on everything from automobiles to office furniture. Several different varieties of trackers are available, and multi-network roaming SIM cards ensure constant cellular connection, even in foreign lands. Some AMS trackers use lithium and rechargeable batteries instead of drawing power from moving vehicles.
Particle
The Particle Tracking System allows for continuous tracking of valuables in addition to other data collection via sensors like temperature and acceleration. Thanks to the system’s open firmware, the Particle IoT Platform allows users to centrally manage their connected devices, including any additional IoT sensors. In North America, the trackers employ Cat-M cellular technology, while in Europe, the Middle East, and Asia, they use LTE Cat-1 with 3G/2G fallback.
Three Situations Where the Internet of Things Asset Tracking Is Useful
Many businesses and industries can benefit from using Internet of Things devices in tandem with asset-tracking software. For instance:
- Keeping Tabs on Healthcare Resources
Asset tracking and management are crucial in the healthcare industry because of the high price and the importance of meeting the patients’ needs. According to a survey by Nursing Times, one-third of nurses spend an average of one hour per shift just seeking supplies.
Equipment that must be kept under constant watch includes wheelchairs, intravenous pumps, portable X-ray machines, and ultrasound machines. Assigning RFID tags to the assets in question and scanning them with a mobile reader or when they pass a scanning point is an efficient way to keep tabs on their whereabouts. Asset tracking software receives data via radio waves and wireless technology. The whereabouts of your items can be tracked in real-time.
- Cold-Food Shipping
If you sell or transport perishable foods, an Internet of Things device with temperature and humidity sensors (and GPS tracking) is essential. The gadget sends a signal to the asset tracking solution when the temperature falls outside the acceptable range.
This allows for the rapid diversion of vehicles carrying perishable commodities and the fast loading and sending out of replacement trucks. This aids in preventing bottlenecks in the supply chain and unhappy customers.
- Fire Prevention and Safety
Businesses, especially those with physical locations, can profit from installing Internet of Things-connected smoke detectors. The program for monitoring assets allows constant monitoring of their whereabouts and states.
Phone calls, emails, and text messages are sent out immediately in the event of a fire. Employees and customers might be saved from harm, and fire-related insurance claims could be lowered if response times were improved.
Methods for Efficiently Monitoring Internet-Enabled Assets
Most asset-tracking solutions are ready-made products with low reconfigurability and quick deployment times or platforms and point solutions requiring you to manage extensive integrations before testing your hypothesis. Let me explain how Particle stands out.
A SaaS Internet of Things Platform with Full Integration
All of our products feature built-in support for the Particle Platform-as-a-Service. Particle Device OS is pre-installed on every unit, and after powering on, each unit automatically connects to the Particle Cloud, providing instantaneous fleet-wide visibility.
Easy Over-The-Air Updates
Our Over-the-Air update technology, Particle OTA Services, allows you to update a subset or your complete fleet with a single click. Make immediate adjustments to product behavior, implement regulatory changes, and distribute security updates.
Location-Based Services That Can Be Used
Accurate GPS tracking, complete GNSS control, and publishing of location data, APIs to store and get last known locations, historical routes and related user data, location fusion, and simple data retrieval from the Particle Cloud for mapping are all part of the regular fare of Particle’s location services. To maintain Privacy Shield and GDPR compliance, we encrypt all data in a separate database.
Complete Fleet Observability
Particle’s built-in fleet diagnostics allow you to track devices by region, carrier, partner, and radio access technology to pinpoint the origin of any problems.
Ideal Components for an Internet of Things-based Inventory Management System
To fully use the numerous advantages of an Internet of Things-based asset monitoring system, it must possess the following four impressive characteristics.
Effortless connectivity
Connectivity is essential to the functioning of the Internet of Things; however, if the underlying network is unreliable, performance cannot be guaranteed. Connecting the devices to a dependable network will allow the assets’ data, location, performance metrics, and functioning to be accurately tracked, monitored, and transmitted.
Comprehensive Safety and Protection
In addition to the importance of connectivity, maintaining the safety of the network is also crucial. Because of the valuable and essential information transferred between connected systems, the connection should be secure, tamper-proof, and secure.
Administration of performance
Asset monitoring systems based on the Internet of Things should be able to monitor and collect credible data in real-time about the location, performance, and condition of assets. It is important to give regular updates to maintain uninterrupted connectivity.
Processing of data and statistical analysis
The collecting of data is just one component of the asset monitoring process. The company will not employ data-driven initiatives to improve performance unless the data analysis is done appropriately.
When Keeping Tabs on Assets, Why Use Bluetooth?
Why pick Bluetooth when there are so many other options?
BLE (Bluetooth Low Energy) has several distinct advantages regarding keeping tabs on valuables. Several of the most prominent are as follows:
Outside of passive RFID, its tags are the most cost-effective. (Active RFID tags are still a tiny bit more expensive). The $2 integrated circuits allow for inexpensive tag production. While it’s true that active RFID tags can be waterproof, oddly shaped, etc., as well, the lower price makes it easier to buy the tag types you need without breaking the bank.
The tags’ low energy consumption means they may operate for a long time without charging. Batteries often need to be replaced once per year to two years, whereas other technologies require replacement every few months. This is a huge time-saver. It is also possible to recycle the batteries.
You can avoid spending the typical $1k-$5k on expensive active RFID readers. The cost of the necessary receiver is higher because RFID is not low energy. The price of a BLE tag reader is below $100. The savings from this can be used to issue more readers to more workers, improving accessibility and making it simpler to comply with regulations.
Bluetooth has become the de facto wireless communications standard. Phones and other Bluetooth-enabled devices can read BLE tags because of this technology. Most of your staff probably already have phones, so this is much more cost-effective than buying cheap readers.
The precision of your Bluetooth connections is proportional to the number of beacons in use. This allows you to save money by installing fewer beacons in regions like the loading dock where fine-grained location information isn’t necessary while installing more in areas where it is. Instead of relying on UWB, which provides the same accuracy and low cost everywhere, you can tailor this system to your needs.
The cost of beacons is minimal, and they have roughly 100 feet (the range on BLE is limited, but the battery life is better).
Instead of relying on the Enterprise network, BLE can connect directly to the cellular network. The fewer Internet of Things gadgets, the safer the network will likely be. This is an excellent precaution in light of recent high-profile hacks using botnets.
Which Asset Tracking Technology Is the Most Effective?
Bluetooth is the finest asset-tracking technology in most situations. Active RFID and Ultra Wide Band technologies, among others, are helpful. The most outstanding asset tracking solution also includes high-quality software. What you need is a remedy that:
Make it possible to link your physical resources together regardless of where they may be located.
Build processes that merge the real and virtual worlds, keeping tabs on assets and relating them to specific projects.
Works with older equipment, such as barcodes and QR code readers. Integration requires moving on from these, but many businesses have untagged assets. It’s possible they were ignored, and marking infrequently utilized assets may not be worthwhile.
It is tailor-made to serve your needs exactly.
While Bluetooth is frequently the best option, a reliable service provider will help you determine the ideal method for your circumstances. If you have any issues with asset tracking, a professional provider will walk you through them and provide the most suitable technology.
