Asset tracking technology is growing in sophistication and scope. Its uses are expanding from simple warehouse inventory to more complex indoor operations such as factories, shipping centers, and other sites. As a result, the demand for solutions that go beyond barcode tagging has also been steadily rising. Add up all of these trends and you have a future where asset tracking will become even more sophisticated and widespread than it is today.
These changes will bring about new ways to track assets, data streaming for real-time responses, and mobile integration for any-time monitoring. It will also introduce more integrated solutions that combine multiple tags on one device to keep tabs on physical locations. This article outlines five exciting trends shaping the future of asset tracking.
Cloud-based solutions for real-time data
Traditionally, asset tracking solutions rely on local data storage. But real-time data isn’t available for local storage — it’s only accessible when it’s transmitted across networks. As a result, asset tracking that relies on a centralized server comes with a few drawbacks. For instance, real-time data isn’t available, and IT specialists need to install and manage the system.
The future of asset tracking will include cloud-based solutions that enable real-time data transmission. This will allow people to access that data remotely, on-demand, and in any format they want. If something goes wrong, the data can also be sent to designated persons automatically. Cloud solutions can also help get around other problems like small networks, which can be slow or unreliable. Cloud solutions ensure that data flows quickly and smoothly, regardless of network conditions.
Wireless integration and mobile tracking
Wireless tagging is one of the most common ways to track assets. In the future, these tags will be even more convenient to use thanks to wireless integration. In particular, solutions with built-in wireless technology will be able to provide more robust tracking with less effort. They’ll come with simple-to-install reader options and be compatible with existing software.
These solutions will also provide seamless integration with existing mobility tools. This will make it possible to track items from a smartphone or tablet with a single click. And it won’t matter if the items being tracked aren’t connected to the internet — the same wireless integration can be used to transmit data. This will allow people to track anything, at any time, no matter where it is.
Blockchain and smart contracts
A blockchain is a type of distributed ledger. It’s a decentralized system that lets people create, share, and track digital assets. The blockchain is maintained by a network of computers that run complex algorithms. These computers verify any new changes to the ledger by comparing the new data with previous entries and the inputs of other computers. This structure makes blockchain technology reliable and robust. It also allows users to log assets in a way that can be easily verified.
The blockchain can also be used to create smart contracts — automated contracts that are self-executing and self-enforcing. Smart contracts can be used to track physical assets like inventory items. They can also be used to verify transactions and manage supply chains. This can help organizations get more value from their asset-tracking solutions.
Augmented reality with facial recognition
Facial recognition is another biometric data type that can be used for asset tracking. It can tell who is using a device, what they’re doing with it, and how often they’re interacting with it. This can be helpful for organizations that want to keep tabs on the usage of devices that store sensitive information.
Once organizations are able to use facial recognition software, they’ll also be able to integrate it with their asset-tracking systems. This will let them track who uses which device and when, as well as the activities that occur on that device. Facial recognition can also be used to augment an asset-tracking solution with augmented reality. This will let people see the location of their tags with a quick scan of a device’s camera. It will also allow them to visualize the connection between their tags, the devices they’re attached to, and other items in the environment.
Conclusion
As these trends suggest, the future of asset tracking is bright. This is particularly true for organizations that are looking to track valuable items. They can use these solutions to prevent theft, reduce shrinkage, and ensure compliance with regulations. This will help them reduce costs and make better use of their resources.