Imagine overseeing a global shipping company, with thousands of assets scattered across the world. You’re reliant on asset tracking to ensure your operations run smoothly, but dealing with inconsistent connectivity, roaming restrictions, and complex operations is a constant battle. This is where the future of asset tracking comes into play, leveraging the power of IoT.
The Asset Tracking Market size, currently valued at USD 21.09 billion, is expected to nearly double by 2028. As such, IoT-based asset tracking and management solutions have become critical to achieving operational efficiency in a fast-paced digital landscape.
However, implementing IoT isn’t always smooth sailing. It comes with a set of challenges, from inconsistent network coverage to high churn rates and inactive devices. Let’s explore these challenges and reveal how Velocity IoT can help you navigate them
Asset Tracking Challenges in a Hyper-Connected World
Various interconnected factors create complexities in asset tracking:
Inconsistent connectivity is a major challenge in asset tracking. For a construction company, tracking equipment and machinery at remote sites becomes difficult due to spotty network coverage. As a result, project delays, equipment location issues, and increased operational costs arise from inefficient resource allocation. This emphasizes the crucial requirement for a reliable asset tracking solution that can overcome connectivity challenges and ensure seamless operations in remote areas.
When assets cross borders, they risk losing connection due to roaming restrictions, causing significant tracking disruptions. This can lead to delayed deliveries, potential theft or loss of assets.
To overcome roaming challenges and coverage gaps, enterprises often find themselves engaging with multiple operator contracts and multiple SKUs for different localities. Managing these multiple SKUs and partnerships with carriers and vendors can become a logistical nightmare, further compounded by the high operational overhead for vendor integration, making it an unfavorable situation.
Churn Rate and Inactive Devices:
These can inflate costs and decrease efficiency, as inactive devices continue to drain resources even when not in use.
Keeping up with rapid technological advancements to ensure your asset tracking systems stay current is a constant race against time. Falling behind can lead to obsolete solutions and a loss of competitive edge.
Sounds daunting? Let’s see how Velocity IoT can turn these challenges into opportunities.
Addressing Challenges with Velocity IoT
Connectivity Without Boundaries:
Imagine no longer battling connectivity issues as your devices traverse international borders. With Velocity IoT’s solution, which combines eUICC and multi-IMSI technology, seamless connectivity becomes a reality. By leveraging a single intelligent IoT SIM card, you gain access to a vast network of over 600 carriers across 190 countries. This ensures uninterrupted connectivity while maintaining compliance with local regulations, eliminating the need to manage multiple SKUs and vendor relationships.
Overcoming Roaming Restrictions:
Our highly secure local core networks, deployed in different countries, enable devices to download and use localized IMSIs, effectively overcoming roaming restrictions. This empowers your assets to maintain consistent connectivity regardless of their location, streamlining tracking operations.
Optimizing Asset Performance:
With Velocity IoT, you can optimize asset performance through real-time data insights while only paying for active SIMs. By minimizing costs and reducing churn rates, you can ensure efficient asset tracking and management, saving both time and resources.
As technology evolves, so does our solution. Velocity IoT’s SIM cards offer over-the-air (OTA) updates, eliminating the need for physical replacements and ensuring your asset tracking systems stay up to date effortlessly. Moreover, our multi-layered security suite prioritizes your data and device protection without compromising performance.
Embrace the Future of Asset Tracking with Velocity IoT. Let us be your trusted partner in overcoming current asset tracking challenges and driving future success. Contact us today!