IoT Cargo Monitoring
Developments in IoT technologies, augmented reality, and virtual reality are affecting cargo monitoring for the better. These transformative technologies are revolutionizing logistics industries through their interactivity and their ability to complement one another. Through an intuitive single platform, a number of benefits can be realized, such as the monitoring of cargo conditions, the remote management of fleets, and ensured timely deliveries. Indeed, the visibility of fleet operations have never been so clear and intuitive. How does it work?
Specialized GPS devices and intelligent sensors attached to cargo to track location and monitor the condition of the items while in storage. 4G/5G, Bluetooth or LPWAN gateways can be used to transfer data and connect cargo handlers to fleet operators, facilitating simpler shipment management. It is this readily available information that allows employees to make more informed decisions during their operations which can only increase their supply chain efficiency.
What’s in this Data?
The data transferred between cargo handlers and fleet operators includes specifications regarding the cargo’s contents, route selections, supply conditions, and weather predictions. All of this info can be transferred in real time to a smartphone or computer to streamline the decision-making process and efforts of those in the transportation industry. Even the freshness of cargo can be assessed through the monitoring of variables such as condensation, airflow, temperature, and humidity. It’s no surprise then that the freight’s weight is also under constant monitoring, which essentially acts as a preventative measure against theft.
Supply Chains and Blockchain
Innovations in blockchain technology are also shifting the logistics industry toward more streamlined operations. With IoT and blockchain technologies, the industry is moving away from paper-based documentation processes in favor of smart Bills of Lading (BoL). These digital documents are shared with those involved with the cargo and consequently, each user is able to identify whether the terms and conditions of the BoL are met. So, a cargo recipient would be able to contrast the smart BoL with the cargo data transferred from IoT sensors and easily notice any discrepancies.
The Market
As the ease-of-use of these technologies increases and implementation becomes more common, it’s no surprise that rapid growth is predicted for the blockchain IoT market. Projections show that between 2020 and 2026, the market size will increase at a Compound Annual Growth Rate of 45.1%. This prediction means that the current USD 258 million valuing of the market is expected to grow to USD 2.41 billion by 2026. As evident in the transportation industry, this growth is indicative of desires for transparent and simplified processes, IoT security, smart contracts, and the increasing adoption of blockchain-based IoT solutions.
If you’re still left with some questions regarding IoT technologies, then consider reaching out to us at Evolution Data where we specialize in implementing IoT solutions for all kinds of industries around the world.
