According to MarketWatch, the asset tracking software market is expected to grow at approximately $11 Billion by 2023 with a 15% CAGR between 2017 and 2023. This isn’t surprising considering the rapidly rising costs of enterprise and industrial assets – especially fleet equipment – that need to be monitored and tracked in real-time.
What started as simple location identification with GPS tracking back in the 1970s, has grown into a veritable canopy of data. And this data can be used to not only target location but also define optimal fleet routes, monitor vehicle outputs, and anticipate maintenance and future growth. By combining data with analysis, companies can increase their overall operational efficiency.
Most recently, RFID-based asset monitoring has emerged – due in large part to the introduction of “Just in Time” shipments and a booming e-commerce society. In short, more companies need an even greater level of asset monitoring to meet increasing consumer demands. Now, more than ever, sensors, software, and unwavering connectivity are crucial to empower managers and organizations to gather the data they need to make informed decisions and, ultimately, better serve their customers.
Nova Mobile Systems is one company that is paving the way to do just that. They provide bundled IoT tracking capabilities to address five asset monitoring needs, including remote management and real-time reporting for location-based services. These robust services require reliable, efficient connections across a variety of networks and carriers. When they encountered challenges, they knew they needed a partner that could enable those connections. And that’s when they turned to KORE. The IoT experts at KORE were able to help them address their connectivity challenges – and so much more.
“The number one quality we enjoy with KORE is with our relationship managers. They have solved problems for us and have been very forthright and proactive in looking for solutions that would be applicable to us and we certainly appreciate that.”
-George Ecker, Founder and CEO, Nova Mobile