Use Cases > Automotive > Track & Trace of Assets

Track & Trace of Assets

Track & Trace of Assets Logo
Overview
Track and trace systems provide real-time or periodic updates for the current and historical locations of Containers, vehicles, or other property. Solutions can apply reckoning and reporting of the position of vehicles and Containers that store the tracked property of concern. For example, if it is known the one thousand objects are stored in a Container, it is more cost effective to track the Container than each individual object. However, high value individual objects can also be monitored directly. Wireless tags can be attached to objects with fixed reference points receiving wireless signals from tags to determine their location, as when a pallet is loaded onto a truck. Alternatively, GPS or another technology can track the object using satellite or cellular networks. Examples of real-time locating systems include Tracking products through an assembly line, locating pallets of merchandise in a warehouse, and tracking Containers as they move across warehouses. The physical layer is usually some form of Radio Frequency communication, but some systems use optical or acoustic technology.
Applicable Industries
  • Automotive
  • Construction & Buildings
Applicable Functions
  • Discrete Manufacturing
  • Maintenance
Market Size

The track and trace solutions market is projected to reach USD 3.93 billion by 2023 from USD 1.65 billion in 2018, at a CAGR of 18.9%.

Source: Markets & Markets 

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