It also costs money -- approximately $10.21 billion (2016) -- and that number continues to rise, according to a report by analyst company Transparency Market Research. They predict that the market for connected logistics will increase to $55.17 billion over the next eight years.
Asset location and product integrity are important factors in the predicted logistics market growth with an increasing focus on the development of asset intelligence from the data your assets report. End-users can analyze data to identify workflow bottlenecks, determine the most efficient routes, locate assets, and use real-time tracking to identify threats to product integrity such as increased temperature and humidity. Semtech’s LoRa® devices and wireless radio frequency technology (LoRa Technology) helps create asset intelligence with its long-range, low power capabilities, all at a low cost.
LoRa Technology allows all the assets in a business to become connected things. LoRa-based sensors and meters installed on assets, together with gateways based on the LoRaWAN® open specification, support wireless connectivity at a range of up to 30 miles, allowing the flow of data from asset to user. Each LoRa device features embedded end-to-end AES128 encryption to secure that flow of data. Plus, the low power feature enables an asset tracking device to maintain a battery life of more than 10 years, adding low maintenance costs to its low deployment and monthly data costs.
LoRa Alliance® member Adveez uses LoRa wireless RF devices to modernize asset tracking in airports around the world and to reduce the costs associated with maintaining ground equipment. The LoRa-based trackers and sensors provide airport operations personnel with critical information including asset usage and location through Adveez’s web solution, or customized to the customer’s existing maintenance software. The asset intelligence that starts with LoRa Technology is intended to reduce maintenance costs, avoid costs of lost assets and streamline workflows.
The use of LoRa Technology facilitates the development of asset intelligence in connected logistics applications and numerous other applications that require asset tracking and other IoT demands. Its low deployment and data rate costs allow developers to find new applications for the technology every day! To learn more about applications and various use cases, visit our website.
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