GPS Tracking Technology for Construction Equipment Saves Companies Big Money
The U.S. construction equipment industry generates nearly $26 billion annually in revenue, the second largest in the world. However, financial analysts estimate U.S. construction companies lose more than $1 billion annually from theft, a figure that have been rising by 10 percent a year since 1996. The two numbers paint a dire picture of an industry in dire need of construction equipment tracking technology as a safeguard to offset this huge drain.
While comprising nearly 9 percent of the economy’s gross domestic product as a whole, the construction industry is dynamic and transient – unlike the manufacturing sector. Equipment, resources and workforces are constantly on the go, moving from site to site and project to project. The number of people working in the U.S. construction industry has remained relatively steady at nearly 7 million during the first six months of 2016.
This fast-paced, open work environment has fostered a more brazen attitude among prospective thieves who increasingly consider taking anything of potential value: Backhoes, heavy-equipment vehicles, bulldozers and evacuators are all fair game. Stolen or misplaced property can cost companies millions of dollar and delay projects for weeks.
GPS Asset-Tracking Technology Helps Companies Track Construction Equipment
GPS asset-tracking devices utilize current technological advances to allow site managers to monitor the movement and the location of their resources and equipment. iGlobal, LLC specializes in the development of technological solutions for the transportation, distribution and construction industries.
The easy-to-use iVision X.5 removes the mystery of your logistics quandary. With pinpoint geographic precision, the iVision X.5 tells managers where their equipment is at any particular time.
No more detective work, no more waiting for answers, no more insurance hikes and no more second guessing: Where is the backhoe? How long has the cement truck been stopped and where is the equipment containers? The iVision X.5 provides quick, accurate answers.
This GPS asset-tracking device features a durable, lithium-ion, non-chargeable battery that provides one global positioning location signal per day for up to five years. Lightweight and unobtrusive, the iVision X.5 mounts anywhere on any equipment – backhoes, containers, cranes, tractors – easily and inexpensively.