A new study from Juniper Research has found that global
spend on asset tracking by enterprises will increase
from $16 billion in 2022 to $45 billion in 2027 – a
substantial growth of 184%.
Drivers: The management and security of high-value
assets are becoming of increasingly significant
importance for many stakeholders, and demand for
technologies that provide real‑time monitoring within
the supply chain are ever more demanded.
Asset tracking in this context refers to systems that
leverage wireless connectivity to remotely monitor
assets’ locations, based on real-time data with the aim
of better managing asset condition.
The research predicts that the growing availability and
affordability of asset-tracking solutions will drive
adoption of managed services amongst the largest
enterprises that operate their own supply chains for
high-value assets. It envisages that the most
sought-after solutions will be those which can
demonstrate a return on investment by minimising theft
and loss of assets during transit.
Real-time GPS Tracking to Enhance Asset-tracking
Capabilities
The
report forecasts that the number of assets tracked will
reach 24 billion by 2027; increasing from only 8 billion
in 2022. It urges asset-tracking platform providers to
include real-time monitoring solutions that can leverage
multiple technologies, including 4G, 5G and GPS. Widely
used today, GPS is a cost‑effective technology, however,
the comprehensive network capabilities of 4G and 5G must
be implemented to monitor assets with the highest
values.
5G Networks Needed for High-value Assets
The report predicts that this increasing reliance on 5G
will present significant opportunities for hardware
vendors over the next 5 years. It anticipates that the
growing demand for ‘always connected’ supply chain
solutions will drive the interest in 5G-enabled
asset-tracking hardware. In turn, supply chain hardware
vendors must focus development on sensors that leverage
the data-intensive nature of 5G to provide features such
as real-time anti-tampering notifications.
