December 4, 2024
Asset Tracking, IoT, Satellite / NTN, Modules
In the complex world of asset tracking, where every piece of cargo is vital, the integration of IoT technology plays a critical role in operational efficiency and security. Beecham Research’s report, "IoT for Asset Tracking: On the Ground and From Satellite" sheds light on how industry front-runners like Semtech are revolutionizing asset tracking with groundbreaking products and solutions. This comprehensive report highlights the immense potential of these innovations to streamline logistics, minimize losses, and create unprecedented opportunities for optimization and growth.
Suppliers increasingly need to know where their assets are and their condition, since late delivery may hold up further supply chain processing. In 2024, there continues to be a wide range of risks and challenges faced by businesses.
For example:
- Cargo thefts are on the rise, at best delaying shipments and at worst resulting in the total loss of goods. In Q1 of 2024 in the United States alone, CargoNet reported 925 thefts worth an estimated $154.6 million.
- Packages that are lost in transit result in loss of revenue and dissatisfaction from customers. The National Consumer League estimates that approximately 1.7 million packages are lost every quarter, costing the logistics industry $50 billion annually.
- Up to 20% of food is spoilt and 13% of pharmaceuticals are lost globally during transportation, amounting to a huge amount of waste. McKinsey estimates that billions of dollars of food are wasted globally either during or after harvest, whilst KIWI Technology predicts that 950 million people could be fed with food currently lost to broken cold chains.
- Within South Africa alone, livestock theft cost farmers $81 million in 2021, according to iSiTECH. Similarly, in Venezuela, around 700,000 cattle (7% of the total cattle population) are smuggled or rustled each year.
Global Asset Tracking Requires Hybrid Connectivity Solutions
Among popular long-range connectivity technologies for asset tracking—cellular, LoRa®, and satellite—over 90% of survey respondents anticipate "high-use" hybrid solutions, as shown in Figure 3.14 of the Beecham Report.
A single connectivity method often falls short of meeting all requirements, which vary based on use case factors like coverage (indoor or outdoor/habited or inhabited zone), battery life, and operational cost. Not surprisingly, cellular technology, with its global coverage, reliable service, and support from over 1,250 mobile network operators worldwide [GSMA Intelligence], sees the highest usage.
LoRa is another favored option, known for its ultra-low power consumption, strong penetration (underground and indoor), and cost-effectiveness. Its use grows in both onsite and wide-area scenarios, especially as the benefits of LoRaWAN® roaming gain more recognition. Satellite connectivity, while still emerging in asset tracking, excels in remote areas with little to no cellular coverage and is expected to see significant growth in the coming years.
As hybrid solutions gain traction, the integration of LoRa and cellular technologies is on the rise, alongside the combined use of cellular and satellite NTN connectivity. These technologies complement each other, merging their strengths to provide robust, flexible, and cost-effective asset-tracking solutions such as in the case of a container tracker or a pallet tracking, benefiting from low-power, low cost LoRa connectivity when located in vicinity of a LoRa gateway such as in the case of a factory, warehouse, distribution center or on a vessel, while utilizing cellular connectivity when in transit between sites or in areas with no LoRa coverage. The same LoRa radio can also be used to create a LoRa network with cellular backhaul to connect to sensors around a container or to stranded Pallets that may not have a cellular backhaul.
Figure 1: Asset Management examples utilizing Cellular Modules along with LoRa Edge™
Semtech, the inventor of LoRa technology and a seasoned provider of cellular solutions, including IoT modules that support satellite NTN, offers unparalleled IoT connectivity solutions and support to enable businesses delivering seamless global asset tracking solutions.
Figure 2: Mix of Terrestrial and Satellite LoRa & Cellular Networks
High-Efficiency Operations
Efficiency is paramount in asset tracking, and Semtech’s solutions exemplify this principle through our focus on energy conservation and operational longevity. The LoRa Connect™ devices are long-range radio transceivers engineered to operate on minimal power, which significantly extends battery life up to 20 years, and reduces maintenance costs. This aspect is particularly beneficial for enterprises looking to deploy tracking solutions in remote or hard-to-reach locations, where regular servicing may be impractical or costly. Semtech also offers a new generation of cellular low power wide area (LPWA) modules HL79 series that uses the Sony ALT1350 chipset. These modules offer ultra-low power consumption and innovation capabilities for modern asset tracking needs, reducing current consumption by up to 80% compared to previous generation LPWA modules, effectively quadrupling the battery life of tracking devices.
Resilient Multi-Network Mobile Connectivity Service
When tracking high-value assets, maintaining an always-on connection is essential, which calls for a connectivity service with robust redundancy layers. Semtech's AirVantage® Smart Connectivity is designed for mission-critical applications, providing highly resilient connections through its intelligent SIMs, featuring multiple IMSIs and profiles. These Smart Connectivity SIMs offer dynamic access to top networks in over 190 countries and territories through over 600 partner networks. The service includes a management cloud platform that enables enterprises to oversee the lifecycle of their SIM fleets, set alerts and automation rules, and quickly assess their global deployment status. Additionally, a dedicated support team is available 24/7/365 to ensure critical applications to be connected with maximum uptime.
Multi-Layered Tracking Technologies
Beyond basic location data, Semtech employs a multidisciplinary approach dubbed LoRa Edge™, integrating cost effectively low-power GPS and Wi-Fi scanning with cloud-based solver, as well as Bluetooth beaconing and round-trip-time-of-flight capabilities alongside our foundational LoRa technology. This diverse technological coupling facilitates high-precision tracking, capturing data with accuracy whether assets are indoors or outdoors. This comprehensive tracking assures stakeholders that they can rely on real-time data insights for strategic decision-making processes.
Figure 3: LoRa Edge Location-Aware features
Swift Market Adaptation
The dynamic landscape of the IoT world demands flexibility and rapid adaptation to technological advancements. With Semtech’s proven solutions, companies can expedite their market entry while maintaining compliance with international standards. The technology’s modular design allows businesses to customize their offerings and swiftly transition from development to market deployment, thus gaining a competitive edge.
Semtech’s innovative approach to leveraging IoT for asset tracking modernizes supply chain management and management but also sets a precedent for future technological integration in logistics. By investing in these innovative solutions, businesses can anticipate shifts in the market and adapt proactively.
Be a forerunner in innovation by delving into the depths of the full Beecham Research report. Partner with Semtech and witness the transformative impact of advanced IoT technology as you navigate the complexities of global supply chains.
Semtech, the Semtech logo, Airlink®, AirVantage®, LoRa®, LoRa Connect™, LoRa Edge™, LoRaWAN® are registered trademarks or service marks of Semtech Corporation or its affiliates.
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