From the education sector to the manufacturing sector, from the healthcare industry to the food & beverage industry, from QRS businesses to businesses hub almost every industry took a hit due to pandemic. But the HORECA industry and travel industry are some of the biggest sectors that are affected because of the pandemic.

However, when the first wave of COVID cases rose, all industries were closed and lots of employees lost their jobs, and several were forced to work from home. As a result, their productivity suffered! So, in this blog, we will know what the solution is when working from home is required!

What Is Contactless Tracking?

Contactless tracking enables organizations to track their assets in remote locations. While you are sitting at home or away from your office, you can schedule maintenance of assets and equipment. All the activities that you do in the office you can execute from your home.

Moreover, work remotely is simplified and improved with time and multiple applications were utilized for collaboration. But the game-changer technology was digital asset tracking technology as this technology provides various contactless tracking techniques. However, to achieve this objective asset tracking software is important.

The market of asset tracking software and technology has grown at a great speed. According to the Research and Markets, “Asset Tracking Market was valued at USD 17.14 billion in 2020 and is expected to reach USD 34.82 billion by 2026 at a CAGR of 13.45% during the forecast period 2021 - 2026.” Now coming back to our main topic!

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What Are the Main Contactless Tracking Techniques?

Below we have discussed 5 important contactless tracking techniques that are changing the way of asset tracking!

1. QR (Quick Response) Code

QR code is one of the technologies used in asset tracking. Moreover, it has been used for a long time in marketing. Now QR Code is widely used in making online payments.

It is one of the essential tools for digital asset tracking technologies that keep track of assets. It is a cost-effective asset tracking technology that can help businesses in terms of growth.

2. RFID (Radio Frequency Identification)

RFID stands for radio frequency identification. It is widely used for online asset tracking and management. For contactless tracking, RFID tags utilization has been done for a long time and during pandemics.

RFID tag utilization has grown its market. As it provides the real-time location of each asset and provides data as well.

3. GPS (Global Position System)

Personally, we all have used GPS, and we know how effective it is. GPS (Global Positioning System) is used for transportation.

It also provides the real-time location of vehicles and assets, which is why it is mostly used by the manufacturing industry. Moreover, you can also inform the driver which route to take and which not, to avoid traffic jams. It also saves unnecessary expenses of fuel wastage.

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4. NFC (Near Field Communication)

NFC technology is the advanced version of RFID technology. one of the biggest advantages of NFC technology is that it processes information quickly. NFC technology comes in the form of NFC tags. These NFC tags are attached to the asset, and they provide valuable information.

NFC has short-range remote availability innovation that makes life helpful and more straightforward for customers across the globe by empowering less complex trade of computerized content, exchanges, and association with various electronic gadgets.

It is mostly utilized in cell phones, workstations, and tablets for the short scope of information trade (up to 10 cm or less).

5. BLE (Bluetooth Low Energy)

BLE asset tracking is more effective when it is utilized under the premise of the organization. Especially in the case of when there are lots of inventories to take care of and assets as well.

In huge warehouses where it is very hectic to find assets and inventory at the required time. BLE has a small communication range, that is why it only works in a limited or particular area.

Bonus

IoT (Internet of Things)

This one is a bonus; the Internet of things is one of the biggest tools used in digital asset tracking. It provides real-time location and security to the assets. With remote monitoring, you can get all the asset data through which decisions can be made easily.

According to the Markets and Markets, The Internet of Things (IoT) device management market size is expected to grow from USD 693.4 Million in 2017 to USD 2,559.6 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 29.8% from 2017 to 2022.

Conclusion

These are only a few of the asset tracking technologies. Each of the asset tracking technology has its advantages and disadvantages as well.

As we said before, choosing online contactless asset tracking technology is only one part and another important part is you must utilize asset tracking software. Asset tracking software provides several advantages to the organization.

This software comes with cloud technology which means that you can access it from anywhere. it means that when you are working from home you can access all information about your assets.

In contactless tracking, asset tracking software is significant it provides valuable information, and it sends alerts & notifications for asset maintenance. For keeping your asset productive you can ensure that your asset gets maintenance regularly.

Also Read: How to Effectively Track and Audit Your Assets with RFID Tags?

Frequently Asked Questions (FAQs)

1. What Is Asset Tracking Software?  

Asset tracking software can provide a lot of benefits to organizations. It not only keeps track of assets but also assists organizations in maintaining assets with the maintenance schedule. When assets are maintained their failure chances are reduced and maintenance expenses are reduced as well. Asset tracking eliminates the chances of asset theft and asset misplacement.

In simple words, asset tracking software automates the process of digital asset tracking. It plays a crucial role in asset maintenance by monitoring them. This system also sends alerts & notifications according to the situation. When assets are maintained, they work more than usual as a result production increases and asset life increases. It leads to an increase in return on investment (ROI).

2. What Are the Benefits of Cloud Asset Tracking Software?  

Most importantly you can access asset tracking software from anywhere, it is one of the biggest advantages of cloud technology. It comes in handy, especially in situations of WFH. Cloud technology service provider adds security to your data. It makes you more efficient and more productive.

3. How Are Asset Thefts Avoided with Asset Tracking Software?

When your assets are tagged with asset tracking technology it provides the asset location of the asset in real-time. When assets are tagged you can find your assets easily and avoid asset theft and it also saves the organization from unnecessary expenses.