Asset tracking as an industry has experienced tremendous growth, expected to grow from $5 billion in 2024 to $9.2 billion by 2029, according to figures put out by Research and Markets. Conversation revolving around asset tracking focuses on the precision of location services, as well as the kind of connectivity offered by GPS, Bluetooth and Wi-Fi. For a Wi-Fi asset tracking system, businesses must consider the advantages and disadvantages, as well as how to integrate and maintain this technology over time.
Connectivity options
Enterprises have several options for asset tracking which includes Wi-Fi, Radio Frequency Identification (RFID), and Bluetooth, the latter of which has been covered before on IoT Insider.
Wi-Fi-enabled asset tracking is well suited for enterprises with existing Wi-Fi infrastructure, who benefit from its capabilities in offering a large wireless range for tracking. By integrating it into existing infrastructure, this reduces the need for additional investment, thus lowering the overall cost and complexity. In the same vein, because Wi-Fi enabled asset tracking is reliant on the strength of a Wi-Fi network, if it’s not up to scratch, it’s no use in asset tracking.
Another drawback of a Wi-Fi asset tracking system is that Wi-Fi enabled tracking devices can be pretty power-hungry, compared with passive RFID tags or Bluetooth Low Energy devices in particular.
RFID is another popular option for tracking items or managing inventory in retail and manufacturing especially. RFID systems can be categorised as passive or active; passive RFID tags are generally inexpensive and don’t require a power source, which is suitable for large-scale deployments. RFID does require readers and its range can be shorter than Wi-Fi.
Implementing and maintaining a Wi-Fi asset tracking system
The first step to implementing a Wi-Fi asset tracking system is planning and outlining your aims. Are you looking to improve inventory management or security? The current infrastructure will need to be assessed, evaluating the coverage, bandwidth and latency of the network – this is particularly helpful for identifying potential issues that may affect how the tracking system performs.
Depending on the environment, factors like building materials, layout and device interference can impact on the signal strength and accuracy put out by Wi-Fi.
Once the Wi-Fi asset tracking system is up and running, it needs regular maintenance to continue to operate effectively. This includes monitoring the Wi-Fi network itself, updating firmware and software and regularly recalibrating the system for accuracy purposes.
The future of Wi-Fi asset tracking
Several ongoing trends in the IoT industry indicate what the future of Wi-Fi asset tracking might look like; one being the integration of AI and machine learning (ML) into asset tracking systems.
Because of AI’s capabilities in processing large amounts of data from multiple sources and extracting meaningful insights, it can be used in asset tracking to analyse data patterns over time. For example, it can be used to process data from Wi-Fi signals and sensors to determine the exact location of an asset with precision. It may also be able to account for factors that could affect tracking accuracy, such as signal interference or network congestion.
What the application of ML might look like was demonstrated by UnaBiz in announcing the launch of Sigfox Atlas Sparks Beta, for asset tracking in the supply chain and logistics. The solution in question uses patented machine learning algorithms on data from two tracker types aggregated in the Cloud; Smart Wi-Fi trackers working alongside Sigfox trackers.
“Sigfox Atlas Sparks demonstrates the transformative power of AI and Machine Learning further advancing our world-leading suite of geolocation services,” said Alexis Susset, Chief Technology Officer at UnaBiz in the announcement.
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