IoT is here to change the world. Know more about the use cases of IoT digital asset tracking systems and the benefits of such devices.
From smartphones to smart homes, IoT is here to rule as the newest technology of the twentieth century. IoT applications for asset tracking and management in industries is not new. There are many IoT devices today that have been proved to be a boon for mankind. If you are an entrepreneur and wish to work on IoT digital asset tracking applications, a knowledge of the use cases is a must. So, what are the areas where IoT asset tracking applications can function? What are the benefits of such devices? Is it necessary for businesses to use IoT tracking systems? Let us take a look.
Benefits of IoT Tracking Devices
According to a report by Mobile Experts, there will be an exponential growth in the shipment of Asset Tracking IoT devices in near future. In fact, shipments will grow from 22 million to 70 million by 2022. Also, half of these devices will send data using a Cloud-based service provider. This will result in a service revenue growth of 7.5 billion U.S. dollars in 2022.”
So, why will IoT tracking devices sell like hotcakes in the future? Well, IoT tracking devices have a lot of benefits like:
- Peace of mind and security
- Reduced cost of losses and theft
- Optimized transport routes and cost
- Improved productivity
- Improved customer satisfaction
- Clearer responsibility boundaries along the logistic supply chains
Thus, IoT tracking apps will definitely affect each industrial sector in a profound manner. This is due to the fact that it has the immense potential to replace all other technologies in terms of security and saving money. So, let’s know some use cases of IoT devices for asset management and tracking.
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