The GPS Tracking Device System Market is expected to grow at USD 2.53 billion by 2023, at 11.9% of CAGR between 2017 and 2023.
Source: Market Research Future
What business value do shipment tracking technology?
It enables shippers to be in control of their transportation and locate freight at any point in its journey.
How can IoT based shipment tracking and monitoring solutions help your supply chain?
- Improved product quality and consistency
- Decreased in warehousing and storage costs
- Reduced impact of stock outs
- Staying pro-active during supply chain disruptions
- Reduced product shrinkage and insurance costs
- Trade route analysis
- Lower Labor Costs
- Improved Brand Protection
How is shipping tracking technology made up?
It is made up of three things: sensors, connectivity, and applications.
Sensors make it possible to know the location of your containers, and the connectivity piece (which is particularly difficult when at sea) transmits that location data back to an application. Often shipping companies will pull the location data out of an API and put it into their logistics platform, where the data can be analyzed.
Which systems enable to control transportation?
Track and trace features are available on a transportation management system (TMS). With this technology, companies have insight into carrier performance, transportation costs, and market trends as they manage their logistics.
How is data obtained by the system?
There are different ways like BLE tags, GPS or WiFi.