Keeping track of media equipment can be a challenge, especially during large-scale events or productions. IoT solutions simplify this by providing real-time tracking and monitoring of your valuable assets. From cameras to sound systems, stay updated on their location, condition, and usage instantly. Reduce losses, improve efficiency, and ensure seamless operations with smart IoT-enabled tracking systems.
Media equipment like smartphones, cameras, microphones, radios, etc., are necessary in today’s world. It is used to collect information in various modes. Media equipment is growing daily and also making an important impact on the global market. The global media equipment market is expected to grow to $2578.67 billion in 2024, with a compound annual growth rate (CAGR) of 8.0%. The audio and video equipment market size has grown steadily in recent years. It will grow from $163.42 billion in 2023 to $169.86 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%.
Overview + Related Statistics
Media types of equipment are important, as they are generally costly and contain important data. Without proper care and maintenance, there can be a chance of losing data and also incurring unnecessary expenses. Many tools and technologies can contribute to taking care of media equipment. IoT has the potential to enhance real-time tracking of media equipment that does not let them be lost and detects other risk factors too.
Using sensors and connected devices, we can track media equipment in real-time, sending data to the cloud for processing to offer end-users insights and alarms. It enables users to get insights about the condition of equipment and take prevention measures before too much damage occurs. As we progress in this article, we will see other benefits of IoT solutions for media equipment in detail.
Related Statistics
IoT-powered solutions are individually too effective as they have benefited many sectors and gained an incredible boost in terms of finance. The Internet of Things market size is estimated at USD 1.17 trillion in 2024 and is expected to reach USD 2.37 trillion by 2029, growing at a CAGR of 15.12% during the forecast period (2024-2029). Many media equipment and devices have connected through the IoT to increase real-time tracking in the last few years.
Statistics show that the number of connected IoT devices is projected to reach 18.8 billion by the end of 2024, a 13% increase from the previous year. In 2023, there were 16.6 billion IoT devices globally, marking a substantial 15% growth compared to 2022. These numbers clearly show the dominance of IoT solutions for digital devices.
We have passed through a lot of stats and information about the topic, and this was just the introductory part. There is a lot to get in this article as we are going to see some interesting details like benefits, challenges, etc. Then at the last, we will sign off with a concluding paragraph.
Also Read: The Best Asset Tracking Solutions for Education and Schools
IoT Solutions for Real-Time Tracking of Media Equipment
IoT solutions can be in various forms of other technologies like GPS, RFID, Bluetooth, etc. These IoT-powered solutions can be used to track other assets efficiently and effectively. For real-time tracking of media equipment, IoT-powered solutions can provide data on every movement, conditions, and monitoring of every factor like temperature, battery health, reliability, etc. These allow the management of media equipment in a way that helps to increase lifespan and information-storing ability too. As we move forward, we will see other interesting parts that make us more informed about the discussion.
Also Read: Improving Equipment Utilization with Real-Time Asset Tracking
Benefits of IoT Solutions for Real-Time Tracking of Media Equipment
So now it’s time to go through the benefits of IoT solutions for real-time tracking of media equipment. There are lots of benefits, as IoT offers many features and use cases. Here are a few key benefits mentioned below that would definitely be interesting for you.
Rich Data Insights
Data insights are important for managing assets, as this enables you to know more about your assets. For media equipment real-time tracking, IoT solutions provide exactly the right information that helps to take the right decision at the right time. For example, if someone uses a camera and forgets it in any place. Then with the IoT-powered GPS solution, it is possible to track that and get there as soon as possible.
Fewer Supply Chain Disruptions
There are a lot of media equipment used by manufacturing companies that manufacture media equipment of different categories. The IoT solutions can also benefit them as they need while delivering the equipment. With IoT solutions, the organization has proper information that the equipment reaches the right location in the right condition. This reduces supply chain disruptions and increases efficiency.
Better Utilization
This is crucial to have proper information and ideas about where and which equipment to use. IoT solutions powered by media equipment real-time monitoring can provide the equipment condition that it can be used or not. This allows organizations to better plan requirement uses that overall enhance the utilization of media equipment.
Extend the Lifespan of Equipment
With the proper maintenance and prevention, this is possible to extend the lifespan of media equipment more than usual. Manual tracking of equipment condition cannot help a lot, as this can make maintenance of equipment. Where with the IoT solutions, power real-time tracking of media equipment, it is possible to find out when equipment needs maintenance that extends its lifespan.
Centralized Control
Manual real-time tracking of media equipment does not enable the centralized control that messes up the whole network. With IoT solutions, it can be possible to establish centralized control for whole media equipment monitoring. This saves extra cost and also makes it easy to make an instant decision. This enables better coordination and collaboration within the media equipment management team.
Challenges with IoT Solutions for Tracking Media Equipment
So there are pros and cons that we have seen in the last paragraph. Now it’s time to know some challenging sides that can interrupt the implementation and use of IoT solutions for media equipment.
- Offline functionality can be a challenging thing with IoT solutions, as most of them run with internet connectivity.
- Handling many types of data at once can be a challenging thing for IoT-powered solutions that results in overload too.
- The cost of consumer connections can be high, and operators’ profit margins for IoT initiatives may be constrained. So this can be another challenge for both sides.
Also Read: Innovative RFID Solutions for Accurate Asset Tracking and Management
Final Words
IoT is one of the best technologies that have been developed in the last decades. This technology has been serving many sectors with its amazing capability of collecting data, integrating with other technology, real-time monitoring, etc.
IoT-powered solutions like GPS, RFID, Bluetooth, etc., can enable the real-time tracking of media equipment that does not let them be damaged or lost and also extend their lifespan too. There can be availability of every bit of information. While there are definitely a few challenges too, such as internet connectivity, complexity in managing vast amounts of data, cost, etc., the pros side has the potential to outweigh the cons side. In the end, IoT potential has been introduced to the world in its initial time, and it can change media equipment management by its real-time tracking ability.
