267 million active RFID/asset trackers will be deployed globally by 2027
By 2027, there will be 267 million active RFID/asset trackers in use worldwide for industrial automation, logistics, supply chain, agriculture, construction, mining and related markets
Asset tracking is the fastest growing industrial IoT market and most connected devices will be location aware within the next decade claims the "Industrial IoT Asset Tracking" report. Driving this growth is the relentless improvements in low power RF chip technologies and the adoption of Low Power Wide Area Networks (LPWAN) and Bluetooth Low Energy (BLE) beacons that are creating new asset tracking IoT solutions.
The report surveyed 62 industrial asset tracking leaders and innovators and found that over half have commercial deployments and 19% have deployed more than 50,000 asset trackers. Respondents have high demands for their asset trackers with one third expecting to have over 200 transmissions/day and 27% expect their devices' battery life to be greater than five years.
Sensor-enabled smart tags remain a growing trend with 84% including sensors other than GPS in their asset tracking devices. Respondents are most satisfied with the data reliability and data rate and least satisfied with battery lifetime and cost.
Vehicle asset tracking for fleet management will make up the largest portion until 2024 when it will be surpassed by tracking, locating and monitoring for other types of assets including shipping containers, livestock, machinery, equipment and tools.