You’re doing some research on potential barcoding solutions for your company. Why? Because you want to track and manage the condition and whereabouts of your assets and/or inventory, right? Well, the potential benefits could be much more significant than that. Heard of the buzz term “Internet of Things”? Sometimes shortened to “IoT,” the term is everywhere, and some companies claim to be knee deep in its implementation.
In a nutshell, IoT refers to a reality in which most of the items in your work, home, and other environments are not only barcoded but connected to one another in such a way that they communicate. What’s the point? The benefits range from mere convenience to risk mitigation. Consider, for example, traffic patterns, neighborhood crime, air pollution, health care, water distribution and energy management. And that’s barely scratching the surface of the IoT’s potential. What if your car could optimize its own performance, so you could maximize its lifespan? Or perhaps your car could be alerted to hazardous conditions and respond automatically, either slowing down or shifting into another gear. While the IoT is still in its infancy, we’re seeing a lot of products on the market that include this technology, like the Nest Thermostat, which creates a “smart home” environment in which you can control the temperature of your home from wherever you happen to be, receive safety alerts and, ultimately, reduce your energy consumption.
BusinessInsider.com reports that IoT devices connected to the Internet will more than triple by 2020, from 10 billion to 34 billion. Although we often hear a lot about how citizens could use IoT in their homes, businesses are expected to be the most dominant users of IoT technology, motivated by benefits like lower operating costs, increased productivity and the potential to expand into new markets and/or develop new product offerings. Governments are expected to be the second-largest adopter of IoT technology, and consumers the third-largest. Business Insider’s research service, BI Intelligence, issued a report that analyzed responses from more than 500 companies across a broad diversity of industries. Based on that study, BI Intelligence forecasts that there will be $4.8 trillion in aggregate IoT investment between 2016 and 2021.
These figures strongly suggest that the Internet of Things isn’t a question of if, but when. As with many other evolutions in technology, businesses who don’t stay on top of these changes or who otherwise stand still are likely to be left in the dust. If you’ve been shopping for barcoding solutions, then, you’re making an investment both in the short and long term of your company’s future.
Asset Panda offers barcoding solutions as well as the world’s most powerful mobile asset tracking platform. Start at buyassettags.com, Asset Panda’s online store for durable and reliable asset tags and labels to meet your specific needs. Then download Asset Panda’s free iOS or Android app, and begin your free 14-day trial. Our customer service team will walk you through the process. Asset Panda is highly configurable, intuitive and user-friendly. You won’t need special training to get up to speed quickly, and you can bring in as many users as you’d like. Features are completely customizable, and best of all, Asset Panda is flexible enough to incorporate new technologies as they become available in the future. We’ve already got our eye on the IoT. Contact Asset Panda, and let us help you prepare for the future while you save time and money thanks to more efficient and accurate barcoding solutions and asset management. For more information, visit assetpanda.com