According to Helium’s latest “State of iOT Asset Tracking Survey” published by Digital Matter last week; asset tracking continues to be one of the most popular IoT use cases, with the global IoT-supported asset tracking market expected to account for over 90 percent of all connected enterprise and industrial solutions by 2030.
In summary, Tracking assets requires the following:
LOW POWER CONSUMPTION
Tracking assets on long journeys becomes very difficult when the tracking battery keeps dying. Cellular solutions in particular shorten battery life and consume large amounts of power.
LONG RANGE/ DENSE COVERAGE
For assets moving across state lines or going into rural areas, Wi-Fi and Bluetooth don’t provide the range or coverage needed to track location.
VIABLE ECONOMIC MODEL
The cost of running sensors and devices on private networks proves too costly for the majority of asset tracking use cases.
The report also generated some interesting insights:
The top-3 mosttracked assets are:
- Vehicles at 45 percent
- On-Site Equipment at 37 percent
- Personal Property at 24.5 percent
The main motivation for respondents in tracking assets is to prevent loss/theft at 40 percent, with enhancing operational efficiency close behind at 30 percent.
Overall, 40 percent of respondents are using some type of connectivity to track assets in 2021, while the other 60 percent are not currently engaging in asset tracking. While tech was again the most represented vertical in need of asset tracking solutions at 33 percent, telecomms, transportation and distribution, and retail all came in at or around 10 percent, marking growth in the non-tech industries from 2020.
The current market is certainly growing and we look forward to seeing what the next 12 months brings in developing markets and technologies.