The worldwide asset tracking market will be worth $36.3 billion by 2025 if it maintains the current 15% CAGR.
The rapid growth of this industry is due to the growing popularity of asset tracking solutions. Businesses are relying on asset trackers to reduce asset losses and increase efficiency.
Your business, too, should invest in an asset tracker to keep up with this trend.
Yet, with so many asset tracking solutions, it’s hard to decide which one to pick.
Read on to learn more about different types of asset tracking options and how to choose the right one.
GPS Tracking
GPS tracking is an innovative invention that allows companies to track their assets ’movements. All these companies need is to purchase a portable GPS tracking device. This device allows you to track and monitor its location.
So, when you attach it to your vehicle, it’s easy to tell your car’s location.
Here are the benefits of using a GPS tracker for fleets:
- Real-time fleet status
- Improved cargo security
- Real-time data on driving behaviors
- Optimized routing
Track here to learn more about how a GPS tracking device works. You want to get more insights on the key features to check when shopping for a GPS tracking device.
One of the biggest risks of using a GPS tracking device is battery failure which leads to poor signal. So, when shopping for this device, check the battery lifespan to choose the right. Also, learn how often to replace this battery to enhance signal quality and improve asset tracking.
Barcode Asset Tracking
Barcode asset tracking is a simple and inexpensive way for companies of all sizes to manage and track physical assets. To use this tracking option, you need; barcodes, a bar code scanner, and asset tracking software. Once you have these things, the next step is to learn to generate barcodes.
So, look for resources to educate you on how different types of bar codes works and which one to use. Next, learn how to collect bar code data and manage it using the asset tracking software.
Here are the benefits of tracking assets using barcodes:
- Low human errors
- A simple asset tracking option
- Improved speed and accuracy
- Cost-effective asset tracking
- Simplified record keeping
So, to enjoy these benefits learn more about how barcode asset tracking works. However, before you settle on this method, know that barcodes are easily damaged. So, learn how to prevent barcode damages to improve asset tracking.
Also, compare this asset tracking with other options to pick the one that best fits your business needs.
Pick the Best Asset Tracking Option to Increase Efficiency
Picking the best asset tracking option will improve efficiency and low operational cost. So, compare the above asset tracking options to decide which one to choose. The idea is to learn the pros and cons of these options.
You want to select an asset tracking option that meets your company’s specifications.
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