- Companies can more efficiently and cost-effectively monitoring maintenance issues and the real-time status of their assets.
Asset tracking refers to the method of tracking physical assets, either by scanning barcode labels attached to the assets or by using tags using GPS, BLE or RFID which broadcast their location. These technologies can also be used for indoor tracking of persons wearing a tag or any specific indicator which can be detected by the existing embedded system.
Asset tracking has proven essential in gathering data across a variety of applications and verticals. There are hundreds of known use cases for which organizations and companies have turned to LoRa devices and the LoRaWAN protocol, a long-range, low-power wireless connectivity technology that enables the smart Internet of Things (IoT) applications, to solve some of the biggest challenges for organizations across the world.
Some of the Giant Ventures have already been investing in this field and are utilising the gathered data in the positive growth of the organisation. According to the analysis of Data Bridge Market Research, the sector has already crossed 11.8 billion dollar investment in 2017.
Some of the established companies in this sector are –
Capgemini, a global leader in consulting, technology services and digital transformation, created an IoT solution based on LoRa to make its hundreds of global offices smarter. By analyzing the data gathered from the sensors, Capgemini is making smarter solutions for more sustainable buildings. The sensors attached in the buildings senses temperatures, carbon dioxide levels and humidity, energy usage, parking lot availability and desk occupancy in the office. The data sensed by the sensor works in real-time.
Skysens, a company focused on industry-oriented wireless IoT solutions, has deployed an end-to-end IoT solution with up to 10,000 LoRa-based sensors that operate on a LoRaWAN-based network. This setup is located at Istanbul Airport and covers an area of 76.5 million square meters (823 million square feet). Multiple applications are connected to the airport sensors that are also being used by other airport tenants and airline companies. The LoRa-based geolocation sensors monitor the locations of vehicles, personnel and luggage across the airport without using GPS technology. Skysens’ LoRaWAN-based network infrastructure has brought a huge impact on the overall energy consumption of the airport.
Ineo-Sense, a pioneer in the development of intelligent and autonomous sensors for IoT applications, provided Lauak Group with more than 14,000 tracking sensors to be integrated into the company’s manufacturing containers for accurate monitoring of items that are continually in transit throughout its extensive facilities. Lauak Group is a leading manufacturer and supplier of primary components, sub-assemblies and assemblies for the aeronautics industry. The sensors used include LED lights that can blink when staff members are searching for a specific crate or work order.
Smart Parks, an organization that improves conservation and park management deployed LoRa devices and LoRaWAN protocol via 55 gateways across more than 16 million miles in countries including Rwanda, Kenya, Tanzania, India, Malawi and the Netherlands. LoRa provides the ability to track live assets including park rangers, vehicles, elephants and rhinos. Park rangers or residents can be notified if an animal is on the loose or if there are poachers nearby. The LoRa setup runs on solar energy and is virtually undetectable by poachers, a primary concern for the organization. As a result, Smart Parks has maintained a record of zero losses to the poaching of high-value species for 2019.
Asset-tracking solutions simplify the various processes needed for industries and companies to track valuable resources economically. Through the IoT, companies can efficiently and cost-effectively track maintenance issues and monitor real-time status due to increased data processing.
It is said to cover around 75% of the data processing market by 2025.