The Internet of Things (IoT), cloud computing, and especially geo-location technologies are major contributors to the growth of the Smart Tracking industry around the globe. Both individual customers and businesses can feel the effects.
Businesses such as the supply chain utilize Smart Tracking Technology in continually evaluating and optimizing their supply chains. Supply chain inefficiencies can be addressed or gotten rid of altogether. This is as a result of the power of Smart Tracking. Through it, the wealth of data from many connected devices can show instant visibility of warehouse delays as well as routes taken. This information acts as an insight when solving the supply chain inefficiency. This technology is the next big thing in the economy as it is estimated that the Smart Tracking of assets could create $1.9 trillion in economic value for the supply chain and logistics sector.
The core of Smart Tracking technology can be divided into four sectors: GPS Smart Tracking, Bluetooth Smart Tracking, LoRa Smart Tracking, and Global Wi-Fi infrastructure. GPS remains the most prevalent technology used to date. This is due to its critical positioning capabilities to military, civil and commercial users all around the world.