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Industries like healthcare, manufacturing, logistics and retail are using technology more than ever to manage assets. In 2024, facility management-based asset tracking solutions changed how spaces are managed.
It has offered benefits like better efficiency, cost savings and improved security. With real-time data from indoor asset tracking solutions, facility managers can make smarter decisions, increase productivity and cut costs. In time-critical sectors like healthcare, RTLS is crucial not just for improving operational efficiency but also aids faster response in emergencies.
Trends and Future Growth in RTLS for Facility Management
Reports suggest that the global Real-Time Location Systems (RTLS) sector will rise from $6.03 billion in 2024 to $15.79 billion by 2029 with a compound annual growth rate (CAGR) of 21.2%. This rapid growth is due to the demand for solutions that optimize resources, reduce asset loss and improve workflows in many industries.
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The RTLS market is expected to grow significantly. The Asia Pacific region is projected to reach $4.55 billion by 2029, with a CAGR of 26.1%. The healthcare sector in this region leads the adoption of RTLS, focusing on patient and staff safety.
AI-driven RTLS solutions have been shown to measure with up to 98% accuracy regarding the tracking of assets. This makes it possible for facility managers to manage active settings such as manufacturing plants and solve complicated management challenges with cutting-edge facility management asset tracking.
Why is Asset Tracking Crucial for Facility Management?
Facility managers face many challenges that can’t be resolved by conventional methods and require the application of advanced technology solutions. Common issues include:
- Misplaced Equipment: Equipment often gets lost in the daily operational hustle. This leads to a wastage of work hours with resources searching for or replacing missing items.
- Operational Inefficiency: Manual tracking takes time and can be full of errors. This reduces productivity as a whole.
- Security Risks: In critical sectors like healthcare, unauthorized access to equipment can cause serious safety issues and costs.
Mapsted’s advanced indoor asset tracking solutions solve these problems. With Mapsted Tags in place, the need for complicated spreadsheets or email chains is cut short. With more processes being automated, the level of accuracy and insights increase by a huge bandwidth. This in turn supports data-driven decision-making and future planning which leads to a more revenue-optimized operation.
How Indoor Asset Tracking Improves Facility Management
Indoor asset tracking provides real-time, precise location data. This helps improve key areas of facility management, such as security, workflow and maintenance. Systems like RTLS use technologies such as Wi-Fi, BLE or RFID to monitor assets accurately in indoor environments.
Choosing an RTLS system that can easily be integrated into larger spaces while also being scalable, compact and long-lasting is what is key for all businesses. This is precisely where Mapsted comes into the picture.
Key Benefits of Real-Time Indoor Asset Tracking with Mapsted
Boosted Efficiency and Cost Savings
Real-time tracking reduces downtime and ensures efficient asset use, optimizing facility operations with asset tracking. With Mapsted’s Tag Series, facility managers can view, search for and manage assets on one platform. This centralization cuts labour costs, prevents unnecessary spending and improves asset availability.
Enhanced Security and Theft Prevention
Real-time tracking helps prevent theft and studies show that these systems can reduce asset theft by up to 20%. Mapsted’s Tags send alerts when an asset crosses a designated boundary, allowing for quick responses to potential security issues. This makes them essential modern facility management tools.
Optimized Workflow and Resource Allocation
Real-time systems assist personnel in minimizing time looking for equipment by utilizing information on the asset’s location. Mapsted’s solutions enable the extraction of invaluable information on the usage of various assets. Future facilities can effectively distribute resources thereby increasing productivity and preventing over-stocking or under-utilization. Such indoor asset monitoring systems will raise the overall efficiency of the operations.
Informed Decision-Making Through Data Analytics
Tracking systems generate valuable data on asset usage, staff allocation and movement patterns of wearers. Mapsted’s Flow Real-Time Heat Mapping tool tracks foot traffic. This data lets managers adjust layouts and staffing effectively based on actual needs, enhancing efficiency and visitor experience through real-time asset monitoring.
Mapsted’s Solutions for Effective Facility Management
Mapsted offers products to improve facility management in various industries such as healthcare, logistics and manufacturing. These solutions simplify asset tracking and personnel monitoring.
- Mapsted Tag Series: Available in Compact, Mini and Supreme models, these tags are ideal for tracking high-value assets in complex but large settings like hospitals and factories. They need minimal hardware, are scalable and robust while offering long-lasting tracking, making them top-notch indoor asset tracking solutions.
- Mapsted Badge: It is an effective tracking system that guarantees that staff remain accountable and every work environment is secure. In healthcare, staff tracking is vital as it determines the response time and the distribution of resources during emergencies which is very critical.
- Flow Real-Time Heat Mapping: This tool visualizes foot traffic. It helps managers make data-driven decisions about space use and resource deployment. Heat maps also help adjust layouts to enhance visitor experience and streamline workflows.
Conclusion
Real-time indoor asset tracking is changing facility management. It enhances visibility, security and efficiency. Mapsted’s advanced IoT solutions help facilities use real-time data to optimize workflows, reduce costs and improve security. As the industry moves toward data-driven management, Mapsted’s scalable IoT and tracking solutions are essential for modern facilities aiming for innovation and excellence in facility management asset tracking.
If you found this blog helpful, don’t miss our post on Empowering Event Experiences Through Indoor Asset Tracking or watch our video on Discover Mapsted’s New IoT Division | Transform Your Operations Today to learn more.
Frequently Asked Questions
Q1. What benefits does real-time asset tracking bring to facility management?
Ans. Real-time tracking helps managers use assets more effectively. It reduces downtime and improves security, boosting operational efficiency through facility management asset tracking.
Q2. How do Mapsted’s solutions support facility management?
Ans. Mapsted’s products centralize asset and personnel tracking, providing better management and supporting data-based decision-making with their indoor asset tracking solutions.
Q3. What differentiates Mapsted’s products from traditional asset management tools?
Ans. Mapsted’s tags need minimal hardware and are long-lasting. They provide powerful analytics that support data-driven decisions, making them superior modern facility management tools.
Q4. What growth is expected for RTLS technology?
Ans. The RTLS market is expected to grow significantly, especially in healthcare and manufacturing. The need for real-time visibility and resource optimization drives this growth in indoor asset monitoring systems.