When exploring business asset tracking solutions, GPS tags may be an initial consideration. However, it’s essential to recognize a critical limitation: GPS asset tracking tags for equipment lack accuracy indoors. This aspect is particularly crucial, especially when a substantial portion of your assets are located indoors.
In 2021, the GPS tracking device market was valued at US$2.2 billion. However, according to globalnewswire.com, the market is expected to reach a staggering worth of US$6.37 billion by 2030.
Straits Research reports that the transportation industry is expected to hold the largest market share (which isn’t surprising since GPS works best outside) growing at a CAGR of 10.6% during the forecast period.
How Do GPS Asset Tags Work to Locate Assets?
GPS asset tracking tags leverage technology to determine the location of assets. Here’s a run-down on how it’s done:
1. The GPS Receiver
GPS asset tags are equipped with a GPS receiver that communicates with GPS satellites orbiting earth. It receives signals transmitted by multiple GPS satellites.
2. Acquiring the Satellite Signal
The GPS receiver in the tracking tag tries to acquire signals from at least four GPS satellites. The more satellites the receiver can receive signals from, the more accurate determining the location will be.
3. Calculating Time of Arrival
The GPS receiver measures the time it takes for GPS signals to reach the tracking tag from satellites. By comparing the time of arrival of signals from multiple satellites, the GPS receiver can calculate the distance between the tag and each satellite.
Using the distances calculated from multiple satellites, the GPS receiver performs trilateration. Trilateration is a geometric technique that determines the precise location of the tracking tag by intersecting spheres or spheres in three-dimensional space.
5. Calculating Position
Once distances from the tracking tag to at least four satellites are determined, the GPS receiver uses the known positions of the satellites to calculate the exact location of the tracking tag taking into account time delays caused by the speed of light and atmospheric effects.
6. Latitude and Longitude
Once distances from the tracking tag to at least four satellites are determined, the GPS receiver uses the known positions of the satellites to calculate the exact location of the tracking tag, also taking into account time delays caused by the speed of light and atmospheric effects.
7. Transmission of Data
GPS tracking tags are often equipped with communication capabilities, such as cellular or satellite connectivity which can transmit the calculated location data to a central tracking system or software using communication channels.
8. Mapping and Monitoring
The central tracking system or software receives the location data from GPS tracking tags and integrates it with mapping software or platforms enabling users to visualize the location of assets on digital maps and to monitor their movements in real-time.
Let’s have a look at the positives and negatives of GPS asset tracking tags:
|1. Global visibility of tracked assets
2. Stable, mature system
3. GPS-based asset tracking systems can be scaled literally by adding GPS tags to assets
4. Practically interference-free
|1. Works only outdoors
2. Requires a line of sight with at least four satellites, so GPS is unreliable in mountainous terrains or near tall buildings
3. Consumes a lot of power
4. Typical accuracy of between 3-10 metres
Moreover, there are several other factors that make them less than ideal. These include:
Limited Battery Life. GPS tracking tags usually use a battery as a power source, but continuous GPS tracking can quickly drain the battery, especially if the tag needs to transmit location data frequently. This limitation can be a problem for long-term tracking where changing batteries or recharging devices may not be practical or feasible.
Poor Indoor Coverage. GPS signals can be obstructed or weakened by physical barriers such as buildings, tunnels, or dense foliage making GPS tracking less effective in indoor environments or areas with limited satellite visibility. In such cases, the accuracy and reliability of GPS-based location data may be compromised.
High Cost. GPS tracking tags often come with a higher price tag compared to other tracking technologies. This can be a deterrent, particularly when tracking a large number of assets or when cost-effectiveness is a priority.
Updates and Maintenance. GPS tracking systems require periodic maintenance, including firmware updates, battery replacements and signal verification. Depending on the scale of deployment and the number of assets being tracked, managing and maintaining GPS tracking tags can be time-consuming and costly.
Privacy Issues. GPS tracking raises privacy concerns, especially when it involves tracking individuals or personal belongings. Privacy regulations and ethical considerations must be taken into account ensuring tracking activities comply with legal requirements and respect privacy rights.
Data Connectivity and Coverage. GPS tracking tags rely on cellular or satellite networks to transmit location data. In remote areas with limited network coverage, GPS tracking can be severely impacted. Additionally, network outages or disruptions can hinder real-time tracking.
Form Factor and Size. GPS tracking tags often require a certain size and form factor to accommodate necessary components, including antennas and batteries. This can limit their usability in situations where small, discreet, or unconventional tracking devices are preferred.
There’s a Better Way
Given these considerations, alternative technologies may offer better performance, power efficiency, range or cost-effectiveness and Mapsted’s asset tracking system is the best of the best. Why is that? Mapsted tags decisively outperform competitors in the asset tracking arena. Our array of exceptional features propels asset tracking into high gear.
These tags come with a long-lasting, rechargeable battery. Our tags offer the longest replacement cycle, with a battery change required only once every five years and making the change is a no-brainer. Other technologies can be prone to tampering, but our tags have advanced tamper-proof capabilities. Whenever a tag is detached from any asset either physical or human, an automatic notification is immediately sent to the asset management software. Any tampering attempts will be promptly detected and addressed. Mapsted tags weigh about 100 grams each making them ideal for pairing them with smaller assets without affecting accuracy. Our tags provide exceptional tracking precision while easily fitting into an existing asset management process.
The Ultimate Asset Tracking Solution Lies with Mapsted
Mapsted tags offer a modern, reliable and efficient solution outshining all other asset tagging choices, including GPS.
Real-time Asset Tracking
Our tags provide live updates directly to your monitoring software, providing you with real-time visibility of your assets. Mapsted tags ensure accurate and timely reporting of assets’ status, giving you peace of mind and confidence in asset management.
No Lost or Misplaced Assets
Mapsted tags ensure your assets are always accounted for. Customized floor maps maximize asset visibility allowing you to easily track and locate every asset. The power of IoT even lets you automate the monitoring process, eliminating the need for human intervention. As well, detailed reports provide a complete asset history in an easy-to-follow timeline.
Invaluable Location Data
Location data provided by Mapsted tags opens up a world of possibilities. You’ll have complete control over every asset, even having the ability to remotely program their functions, empowering you to make strategic decisions at any time from anywhere.
The Bottom Line
Location-based solutions are key to staying one step ahead of the competition in today’s technological realm. Constant asset visibility boosts efficiency, enhances safety and future proofs your business when you embrace the ingenious innovation of Mapsted tags and our complete location-based system,
With its advanced, patented technology, Mapsted is a force to be reckoned within the location-based market. Whether it’s indoor navigation, targeted marketing and location analytics, Mapsted is at the forefront of accelerating innovation across various sectors, including healthcare facilities, museums, stadiums, universities, airports, train stations, resorts, big box retail and more. With Mapsted solutions, you can unlock the true potential of location-based technology and accelerate your business goals.
If you found this blog helpful, you may want to check out our blog, The Future of Asset Tracking: Emerging Technologies and Innovations to Watch. You might also enjoy viewing this short video, Introducing Hardware-Free Location-Based Solutions.
Reach out to us today to find out how we can help you not only to keep track of your assets, but to optimize your operations, outshine your competition and increase your bottom line!
Frequently Asked Questions
Q: What are GPS asset tracking tags?
A: GPS asset tracking tags, also known as GPS trackers or GPS-enabled trackers, are devices designed to track and monitor the location of assets or objects in real-time using GPS technology. These tags utilize GPS satellite signals to determine their precise geographic coordinates, allowing users to monitor the location of assets remotely.
Q: Why might GPS not be the optimal choice for asset tracking?
A: While GPS is commonly used for asset tracking, there are certain scenarios where it may not be the optimal choice. Some reasons include struggling to provide accurate indoor information, consuming a lot of power, signal interference, cost, limited coverage in some areas and security concerns.
Q: What do Mapsted tags address?
A: Mapsted tags offer features like a long-lasting rechargeable battery, advanced tamper-proofing capabilities and a lightweight design for accurate asset tracking.
Q: How do Mapsted tags provide a comprehensive asset tracking solution?
A: Mapsted Tags provide real-time visibility of assets, prevent misplaced or lost assets and empower users with location data to simplify strategic decision making. They offer accurate reporting, integration with floor maps and automation for efficient asset management.
Q: Why should businesses choose Mapsted tags?
A: Mapsted tags offer modern, reliable and efficient asset tracking solutions with features like live updates, asset visibility and control, detailed reporting and location-powered automation. They surpass limitations of other technologies, enhancing the efficiency, safety and competitiveness of your business.