Pathfindr provides facility and global location tracking to detect the whereabouts of assets wherever they are in the world. Companies including Rolls-Royce, GKN aerospace and KLM UK Engineering have incorporated the technology to understand how their assets are being used and as a result, improve processes, facilitate preventative maintenance, enable product security and reduce inefficiencies worth millions of pounds.
As asset tracking technology has become more widely adopted in manufacturing environments, Pathfindr has been able to reduce costs and pass the savings on to customers, making it even more accessible. The new range of products is up to 25 per cent cheaper than the first-generation trackers and the overall cost of installation has been reduced by approximately 30 per cent. In addition, the Gen 2 Pathfindr Beacons have a 30 per cent longer battery life, making the cost of ownership more affordable and the LoRa technology enables less data to be used – a further saving that is passed on to customers.
The team at Pathfindr is continuously looking to improve the products and make them some of the greenest and most efficient on the market. For example, by switching to LoRa and other lower power consumption components, it has reduced power consumption by 90 per cent. The new Gen 2 Detectors are among the first on the market to not require mains power - this eliminates the need for power infrastructure and increases the potential area within facilities to track assets.
The launch of the new range is a key milestone in Pathfindr’s growth and is linked to the wider and increased adoption of IoT in industry. IDC has forecasted that global spending on the Internet of Things will reach $745 Billion in 2019, led by the manufacturing, consumer, transportation, and utilities sectors. Meanwhile, Gartner predicts that half a billion IoT endpoints will be in manufacturing environments by 2020.
Matt Isherwood, Managing Director at Pathfindr, said: “Pathfindr’s success has come from helping customers solve existing problems. We adapt our asset intelligence technology according to the needs of our customers and as a result, are constantly evolving into new sectors. We are solutions-focused rather than product-focused and once the technology is installed, our customers often find new applications for the technology. We are proud of the improvements we have made to the next generation of products and are pleased that because the price has come down, the technology is even more accessible to companies of all shapes and sizes.
We believe we are only experiencing the tip of the iceberg and over the coming years, we expect our asset intelligence products to transform industries such as pharma, farming and public services. Every day, we are discovering new ways in which asset tracking can be applied and provide actionable intelligence.”