Asset tracking and other supply chain visibility solutions are a large and rapidly growing market, as the e-commerce boom has increased the need for companies to track assets. In a recent report, Mordor Intelligence estimated the asset tracking market to grow to US$34.82 billion by 2026 – at a compound annual growth rate of over 13% – from US$17.14 billion in 2020.
With an eye on this rapidly growing market, Sierra Wireless today launched Acculink Cargo, a new managed IoT solution that companies can quickly deploy to track the location and condition of high-value and sensitive assets.
Delivered as a service for a single monthly fee, the company said the new solution is designed to deliver a single solution companies can use to monitor the near real-time status of assets anywhere in the world, as they move through their supply chains.
Acculink Cargo enables electronics manufacturers, cold-chain carriers, general freight carriers, food and produce shippers and third-party logistics firms to gain the supply-chain visibility they require to avoid shipping delays, minimise dwell time, prevent theft and remediate environmental conditions that can lead to asset damage.
In addition to tracking the location of these assets, it can also alert customers if an asset is exposed to light, changes in temperature, humidity, shock, or other conditions that might spoil or otherwise damage it.
“When it comes to high-value and sensitive assets, companies no longer want to just track their location as they travel through their supply chains. Today, they expect to be able to monitor the condition of these assets in near real-time as well,” said Rupal Nanavati, vice president and general manager for IoT applications at Sierra Wireless. “Acculink Cargo addresses these needs, with an easy-to-deploy, fully integrated managed solution from the global leader in IoT”.
Sierra Wireless listed Acculink Cargo key features. Among them are:
- Quick Deployment: The manged IoT solution fully integrates edge devices, global network connectivity and a cloud-based application, supporting quick deployment in as little as 30 days, with minimal startup costs.
- Highly Accurate Tracking: Use of LTE cellular wireless networks in combination with GPS data enables customers to pinpoint the location of their assets.
- Flexibility/Ease of Use: The cloud-based application features a simple, intuitive user interface with customizable dashboards and configurable alerts.
- Configurable Location and Status Reporting: Users can set up specific geolocation, light, temperature, humidity, and shock conditions they want to monitor for each shipment. Users can also adjust when data on these conditions is updated, allowing them to extend the battery life of their edge devices.
- Valuable Insights: Users can analyse real-time and historical shipping data to uncover trends and other information that can help them make better business decisions.
By offering the solution as a service, Sierra Wireless is lowering customers’ initial upfront investment, while also allowing them to easily scale the solution up or down as their business needs change. Customers have the option to purchase devices upfront, and only pay for connectivity and the application on a subscription basis. Alternatively, they can sign up for a complete managed IoT service, with a single monthly fee that covers devices, network and application access.
Currently, Acculink Cargo is available to customers throughout North America. Sierra Wireless plans to expand availability of the solution to other regions in the future.