Asset Tracking: A New Frontier for Gurtam

Hello, everyone!

As many of you know, Gurtam is a global leader in GPS monitoring and fleet management software. With over 4 million units tracked, we've hit a milestone comparable to the population of countries like Croatia or Uruguay. This achievement highlights the dedication and expertise of our team. Kudos to our colleagues from the Wialon team for their outstanding work!

But as the saying goes, "It's not just about reaching the top; it's about staying there." To maintain our leadership and continue innovating, we've identified a new area of focus: Asset Tracking.

Asset Tracking: foundation

Asset tracking and GPS monitoring are closely related within the broader scope of telematics and fleet management. Asset tracking uses technology to monitor and manage assets — ranging from vehicles, equipment, and containers to valuable goods. These systems provide real-time data on location, movement, status, and other key metrics, helping businesses secure their assets, optimize operations, and minimize losses.

Based on forecasts by Fortune Business Insights, the global asset tracking market size was valued at USD 21.25 billion in 2023. The market is projected to grow from USD 23.42 billion in 2024 to USD 59.64 billion by 2032, exhibiting a CAGR (Compound Annual Growth Rate) of 12.4% during the forecast period.

The most popular use cases where our partners use BLE technologies and our applications for asset management include:

• Security in Construction (Smart Helmets): 
  Smart helmets equipped with BLE beacons track the real-time location of workers, ensuring they stay within safe zones and providing immediate alerts in case of falls or proximity to hazardous areas. This has led to a significant reduction in workplace accidents, with some sites reporting up to a 30% decrease in incidents since implementation. 
  
  
• Waste Management (Garbage Bin Monitoring):
  In waste management, BLE-enabled garbage bins are monitored for fill levels, location, and collection schedules. Such solutions have improved collection efficiency by 25%, as seen in trials across multiple municipalities​
  
  
• Livestock Monitoring (Cows, Sheep, Goats, Camels, etc.):
  BLE tags are widely used in the agriculture industry for tracking the location and health of livestock. Currently, over 50,000 animals, including cows, sheep, goats, and camels, are monitored globally using this technology. Farmers have reported a 20% improvement in herd management efficiency and a reduction in livestock losses by up to 12% through early detection of health issues.
  
  
• Inventory Tracking:
  BLE technology plays a crucial role in inventory management, allowing businesses to track millions of items in real-time. This system has been particularly beneficial in large warehouses, where it has helped reduce inventory discrepancies by 18% and improved order fulfillment times by 22%, thanks to better visibility and streamlined processes.

It’s not all the use cases, but the majority of them are located in these fields. 

These figures highlight the growing demand and effectiveness of our solutions in real-world applications, positioning us to further drive innovation and efficiency in asset management.

However, there are some common issues that our clients faced when trying to implement asset tracking in our current products: there are still several pain points that need to be resolved to enhance efficiency and user experience.

• Enhanced Reporting and Notifications for Individual Tags
  One of the most frequent issues reported by our partners is the lack of detailed reports and notifications for individual BLE tags. In many cases, users need to monitor specific assets closely, and the inability to generate reports or receive notifications for a single tag hinders effective management. 
  
  
• Ability to Upload Maps of Restricted Areas
  Many projects operate in environments where access to specific geographic areas is restricted, such as construction sites or sensitive facilities. However, the current inability to upload and use custom maps of these areas has been a significant limitation. There are also frequent needs to work indoors.
  
  
• Reduction of High Initial Costs
  The high initial costs associated with BLE technology, particularly when each unit corresponds to a single BLE tag, have been a barrier to widespread adoption. To address this, a new solution will explore cost-effective options, and make asset tracking more accessible to businesses of all sizes.
  
  
• Bulk Tag Registration and Management
  Another pain point is the time-consuming process of registering new tags, especially when dealing with large quantities. The lack of a bulk upload feature forces users to manually input each tag, which is inefficient and prone to errors. 
  
  
• Scalable Tag Management
  Managing a large number of tags, sometimes up to 500 per user account, has been challenging . Our new solution will be designed with scalability in mind, ensuring that even users with a significant number of tags can efficiently organize, monitor, and manage their assets. This will include improved user account management, better tag grouping options, and performance optimizations to handle large volumes of data.

Recognizing the growing demand for robust asset tracking solutions and after thoroughly evaluating the current market opportunities and challenges, we have decided to focus on this niche by developing a dedicated product. 

We're thrilled to announce that the MVP of this new solution will be launched this autumn. 

If asset tracking is a priority for your business, contact us now to secure early partner access and be among the first to experience the benefits.