The IoT market is expected to reach the 11 trillion dollar mark in 2025. Insights generated by connected devices in sectors that are highly dependent on materials will make up the greatest share in this regard. - McKinsey

Asset management

IoT devices can be the missing eyes that you need in the area of asset management. If resources are not available within your company due to maintenance, damage, theft or simply because nobody can find them, this can have a direct impact on the productivity and progress of your business processes. Because of this, many companies are interested in monitoring their assets and determining the work performed by each asset, whether it is being overworked or in fact is under-utilized, its current location, its useful lifetime, etc. If an IoT sensor is attached to an asset, its real-time location is always available, and the equipment itself can contact you by issuing warnings. It can even make predictions about when it needs to be serviced.

Indoor & outdoor

Even when assets are kept on the company's site, IoT can deliver added value. Every company receives visitors or customers. You can use cameras, WiFi or Bluetooth to recognize these guests and guide them personally to their appointment. When they arrive, a personalized message can be displayed on a screen, which is adjusted to meet their specific needs. This enables you, for example, to tell them the directions to a meeting room, or inform them that the person they have come to meet is stuck in a traffic jam. The guest can easily find the place for the meeting thanks to the instructions, and when they arrive in the meeting room the light automatically switches on and the projector is ready to use. These things are switched on automatically by an IoT device that announces the guest's arrival. The result: your guests will rarely have felt so welcome anywhere!

The Internet of Things can also provide the solution to the question of how to keep tabs on all your working capital that goes off-site. KPN applied a solution like this to combat bicycle theft. By equipping bicycles with sensors that use the LoRa network – the unique characteristics of this network being LoRa localization and low battery consumption – bicycles can be located without using any additional technology other than GPS.

Do you always know where your assets are located?

Smart asset management makes your company more intelligent and responsive,and it can protect you from capital going astray. Companies that embrace solutions for asset monitoring and tracking can turn operational business data into useful insights in real time, thus helping them to make carefully considered decisions.

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