What are the advantages of the IoT in Asset Management?

What are the advantages of the IoT in Asset Management?

The Internet of Things, sometimes known as IoT, is a network that connects ordinary things, environments, and operations to the internet. Businesses all over the world are using the Internet of Things to make everyday devices smarter and to automate and digitalize industrial processes. The introduction of IoT also aids in inventory management automation and the removal of time-consuming manual processes. The optimization of scheduled maintenance and daily chores, the avoidance of out of stock and overstock issues, and the enhancement of the sales cycle and customer experience are just a few of the benefits that IoT can provide. Using IoT asset management solutions can help you gain access to a variety of benefits, including:

  • Asset tracking: Real-time visibility into the whereabouts of each item in your inventory or assets.
  • Inventory management in real-time: Control the flow of assets in real-time and use the data to make strategic decisions, such as transferring in-demand inventory to new locations.
  • Risk avoidance: Make sure you’re aware of potential hazards and can take the necessary precautions to avoid them.
  • Data security: The Internet of Things improves the security of your data.
  • Transparency in the supply chain: Improve operations by assuring effective resource utilisation and reducing waste.

Asset Management and the Internet of Things

In recent years, an increasing number of businesses have embraced automated asset management procedures and no longer rely on human counting using Excel spreadsheets or record management. However, with IoT, asset management can now be taken a step further, as it adds the element of making systems smart, in addition to being automated. You can, for example, know the exact position and state of each of your assets with IoT asset management solutions, and optimise safety tests, repairs and maintenance, as well as proactive regular checks. Asset navigation and inventory management are no longer lengthy and time-taking processes under the IoT asset management system, allowing a business to save money.

Also Read : Is IoT ready for service industry ?

If you’re debating whether or not digitalisation is the right path for your company, you should know that there’s no doubting the potential benefits of IoT asset management systems, which allow you to have an inventory that self-assesses and self-corrects. Your firm may optimise its resources, decrease potential hazards, and harness real-time information for a more successful sales cycle as well as better overall efficiency when IoT powers your asset management.

The Most Important Advantages of IoT in Asset Management

To summarise, implementing IoT in asset management provides the following advantages:

  • Enhancement of operational effectiveness
  • Productivity improvement
  • More efficient resource utilisation
  • More control over the sales process
  • Safety and compliance checks have become more efficient.
  • Maintenance and repair procedures that are fully automated
  • Identifying growth prospects with greater efficiency
  • A smart ecosystem with a high level of responsiveness

With the numerous benefits that using IoT in asset management provides, it’s no surprise that organisations in asset-intensive industries are incorporating IoT into their operations. Any inefficiency in inventory may be a very costly mistake, thus real-time visibility and asset tracking are features that the logistics, retail, equipment rental, and manufacturing industries would benefit greatly from.

Is 2021 going to be the year of the IoT ?

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The Internet of Things can be a potent technology with several choices in terms of connectivity, hardware and use cases already available in the market. In 2019, IoT had a fabulous year. As per IoT analytics, active IoT devices touched 9.5 billion in 2019 exceeding the initial expectations of 8.3 billion. IoT’s impact is very much evident from the extremely positive data, like its reach within companies. As per Vodafone, currently over one-third of companies opt for IoT solutions to smoothen procedures, bring down functional costs, enhance data collection etc. It’s very surprising to note that these companies mostly prefer to purchase the shelf solutions instead of building their own ones in-house.

The TOP 10 IoT trends

We have strived to compile the top 10 trends pointed out by experts and looking at the chief venture capital functions involving the IoT sector in the previous year. This is what we have unearthed:

Technology trends

From technological perspective we have zeroed in 4 major trends:


Security is a major concern for those building and utilizing IoT solutions now. This is very much evident from over 100 million attacks in the first 6 months of 2019 alone. A cybersecurity startup, Armis, became the first major meltdowns in 2020. It is almost certain that this happens to be a domain in which investment and the research of the essential countermeasures will be an evolving trend this year and going forward as well. Most of the experts feel that the usage of blockchain can be a critical factor in increasing security in the IoT.


Software as a Service is another integral aspect in the IoT world. The advantages are many for both end customers and service providers. The former benefit from cost-effectiveness to a large extent; the latter get the facility to build highly sophisticated solutions and to offer those, straightly or in marketplaces, on a larger scale. The newly launched Professional Public Servers also adheres to this trend. In fact, the SaaS LoRaWAN Network Server solution was developed to assist IoT companies in their evolution minus frivolous expenditures of setting up.

Edge Computing

The cost reduction and the enhanced potency of the devices utilized in the IoT render it convenient to harness the additional computing power of the devices to sift data gathered on the edge (on the device itself, prior to dispatching the data) and permit the conservation of big bandwidth. Also, in several cases, it assures perfect compliance with privacy norms.

Data Analytics

Large scale acceptance of IoT solutions has led to increased data gathering and channelling of every kind of data. Handling and assessing this data defines the genuine value addition that IoT brings to the table. Data assessment, Machine Learning and Artificial Intelligence will naturally have a critical and decisive part. Our exposure conveys that understanding how to assess and comprehend data becomes imperative for an efficient handling of a network, especially if it happens to be a huge deployment. For the same, we are building solutions to assist our customers through these endeavors.

Industry trends

The sectors to witness an IoT explosion in 2020, as per experts?

Smart City

Cities are very much integral to our society, as close to 60% of the global population resides there. In the urban arena, the services that individuals avail can be greatly enhanced courtesy the IoT solutions in the market. The cities in this field are proving the worth of the Internet of Things and several other cities are resultantly following their examples so that smart city attains major traction by 2020.

Industrial Internet of Things (IIoT)

The manufacturing industry has learned the effectiveness of Predictive Maintenance, Energy and Resources management solutions. These are enhancing productivity, assisting larger optimization of resources and procedures, cutting down running expenditures and maximizing operator security. The amount of Proofs of Concept (POCs) offering a commercial solution has largely increased in the last 2 years and the way of digital transformation, including conventional industry sectors, is spreading its tentacles.

Smart home

The voice-identifying algorithms are now very much precise and working perfectly. Hence, the devices built with voice user interface are increasing greatly courtesy the competitive prices, as a result of the robust competition between the big players functioning in the market. Their pervasive diffusion can accelerate the adoption of home automation and smart home solutions as these devices facilitate several services meant for any home environment.


This happens to be a sector where a lot of money comes in, and innovations are no longer restricted to new drugs or biomedical implants. Perennial disease tracking via smart devices, after surgery monitoring or early warning systems for disease-prone patients, intelligent tricorders and wearable devices, medical and diagnostic smart tools for clinicians, and devices to turn hospital rooms smart. As per Frost & Sullivan, the Internet of Medical Things (IoMT) is bound to reach $72.02 billion by 2021.

Usual trends

Apart from the aforesaid trends we should include 2 more.
These happen to be two trends intrinsic to the technologies and sectors showcased above.

Surrounding 2020 happened to be a year which made the world population learn more of Corona change and these issues have made their way into the policies of governments and corporations. The IoT has a critical part to handle these world crises to save the planet. As a matter of fact, while devising IoT solutions, financial and higher productivity missions are unified with environmental safeguard, waste curtailment and optimal utilization of resources. This segment even comprises solutions for observing and safeguarding animal species at risk and their habitats, and disaster solutions (floods, fires, avalanches) prevention and management.

Comprehensive Connectivity: Despite transmission technology utilized to gather data from sensors and then collate those, solutions to assist procedures of global reach such as asset monitoring and management in food, manufacturing or medical applications need imminent and constant connectivity to assure uniformity and process safety. With regard to companies operating globally or wanting to handle and solve this year. We are in the midst of accomplishing the same.

Final Thoughts

The year has not been excellent, but going forward the forecast is not bad either. We are glad to contribute through our solutions and can very well assist you to cope with transformations that are going to happen in the future.

Comparison : Python Vs Node.JS

Comparison : Python Vs Node.JS

You must choose the right programming language as per your need and specification as every programming language has their own sets of pros and cons . While comparing Node.JS and Python , choosing the one among two is the main problem which can be address by right application developer.

In this blog we are going to differentiate between Node.JS and Python on the basis of upsides and downsides of the two , and then suggesting you to select the best that fits for you .

Why Choosing Right Technology Matters ? 

You can get plenty of recommendation from your techie friends , developers and other people for choosing the technology , but you won’t know which option is best suited for you ? 

Every tech framework and programming language has been developed to meet some particular needs of project . So don’t try to choose the technology just because it is popular one . You should choose the one on the basis of these factors : 

  • Budget 
  • Geography 
  • Type of product 
  • Type of project 

These can be various other factors , but you should take each feature of your project details into consideration during selection of technology for app development . While this article is limited to choosing between Python and Node.JS for backend development , we will restrict our discussion for this only and thereon benefits arising out of it .

Python Vs Node.JS

Before discussing any further , let us explain why we are actually comparing . Python is programming language while Node.JS is not . When tasing about Python it is Javascript , while on th other hand for Javascript , Node.JS is runtime language .

The basis differentiation you can say between Python and Node.JS is they both use similar language for both backend and front end while you are writhing in Node.JS. Now lets have a detailed discussion between the two .

1. Speed And Performance 


Node.JS is faster in performance while comparing with Python as Javascript code in Node.JS in interpreted in V8 engine . Node.JS used the code outside website browser . 

This as a result will ought to give better performance and will be called as more resource efficient . This at the same time allows you to utilise features that you are even not allowed to use in browser for instance say TCP sockets .

Node.JS also facilitates non-blocking event-driven architecture that is capable of handling many request at a time , which increase the overall speed of code application . Another major benefit being it has single module catching enabled which eliminates app loading time and make web app more responsive .


Although both Javascript and Python both are slower in comparison with compiled languages live Java as they are interpreted languages . However Python is in comparison gives slower performance as request in this is more slowly processed .

Do not choose Python if you are willing to build application that are aiming at higher performance and speed and is involved in performing complex calculations .

2. Scalability 


You might be willing to attract lots of users to use your app without any hinderance . That is what scalability is all about . Scalability is concern about app’s ability to assist large number of people with absolutely no errors in performance .

Since Node.JS is built on asynchronous architecture in one thread it is highly scalable . Any web application built on Node.JS framework is highly scalable . Hiring a Node.JS developer who have deep expertise in this field will add on value in your project .


Python does not support asynchronous programming , but contains some tools which provides scalability accomplishment .

Since Node.JS offers higher scalability , it wins in this race .

3. Architecture  


Node.JS facilities  asynchronous input and output due to its event driven environment . This procedure starts as soon as any event happens and that is the reason no procedure can hinder the thread . Thereby it is preferable for building web games and chat apps .


Python has been designed in different manner . Python is being used for developing event-driven and asynchronous apps by using specific tools . Modules like asyncio helps in writing asynchronous codes in Python . However asyncio has not been created specifically in Python and hence extra hands on these is required .

Here again , Node.JS winds the race .

4. Learning Curve   


If you are good friend of Javascript , then tan tana !! , you can easily learn Node.JS framework . It is because of its easy learning process , Node.JS is on top most position in the list of most famous framework and acquires 49 % of the share . 


Python as we all know is not as popular as Node.JS is , and hence its syntax is unknown to python developers . 

However it offers cleaner code writing and developer actually don’t have to write lot of code lines . In Python , some code lines can aid you reach similar outcomes as in Node.JS .

In addition to above , Python is old language which also facilities tons of documents sufficient for any developer to learn . 

As per stack overflow , Python is most preferred language . Full stack developers prefers using this simple language for app development .

So conclusion is Python is easier to learn in comparison with Node.JS .

5 . Syntax 


The Syntax of Node.JS is similar to Javascript and hence if you are familiar with javascript , you are not likely to face any hurdles with Node.JS


The syntax of Python is very easy to learn and at the same time is also free of curly bracket also . That is the reason why code is easier to debug and read . If you are a software techies , then python code is very much easier to learn and understand .

As a conclusion , Python wins in this case .

6 . Appropriate projects 


Web app development companies generally do not prefer to use this javascript framework for large projects as it lacks clear coding standards . But yes small project can be well developed using this framework .


Python can be well used in wide range of project that may involve numerical computations , web application , to network programming and machine learning . It is known to be perfect programming language to perform various tasks .

Python also facilitates different frameworks that can be used in building backend like Pyramids , Flask and Django . In addition to it , it also consist of frameworks for frontend such as PySide or Tkinter .

Python offers accurate coding which proves perfect for large projects . Hire python developers to develop your next big projects .

7. Extensibility 


It is easily customisable and integrated with different tools available in marketplace . It can be extend using built in APIs for building DNS ad HTTP server . It can also be easily integrated with Babel which can help you in frontend development .

Log.io is proven useful in error fixation and project monitoring , which tools like Jasmine is being used in unit testing . In case you want to do module building , process management and data migrations , you can easily use Webpack , PM2 and Migrat .

You can also expand your hands on Node.JS using Node.JS frameworks like Restify , Nest , Fastify , Koa , Meteor , Hapi , Express and more .


Many Python frameworks is available in marketplace . You can even integrate Python with Sublime Text editor that also provides some extra syntax extension and editing feature .

Python is known to be Robot framework for performance of test automation . Some of the web development frameworks are CherryPy , Web2Py , Pyramid , Flask and Django .

As a conclusion both Python and Node.JS are extensible easily .

8. Error Handling 


In general , errors are always part of development process , and therefore transparency and feasibility is identification of error is what all is required in programming . Node.JS is efficient in error handling which may arise at time of coding the applications .


Python takes less time than even Node.JS in finding errors and bugs . And hence you will surely not waste your time in error rectification in both Node.JS and Python for your web app development .

9. Libraries  


NPM , the Node Package Manager is accountable for handling packages and libraries in Node.JS . It has large inventories of software libraries . NPM at the same time is very easy to learn for  developers  with proper documentation .


PIP , ie Pip installs Python Handles packages and libraries in Python . PIP is very reliable and very easy to learn for developers .

Therefore both Python and Node.JS wins in case of libraries .

10 .  Data and Memory Intensive Apps 


This is known to be best available framework to build run-tine-intensive apps . For instance you can easily use this technology to build chat functionality in app . Node.JS development companies build apps which can manage data steaming , queued points and proxy efficiently .

Node.JS is used to develop heavy traffic websites like eCommerce stores or building apps utilising 3D graphics .


Due to its lower run time performance , it can not be used for real-time apps development . We also do not recommend to use Python for memory-intensive apps .

Thereby , Node.JS wins in this scenario .

11. Universality  


Node.JS is widely being used for backend coding of web apps . However you can also make use of Javascript for front end development . Node.JS is being used for building web apps , hybrid apps , desktop apps as well as IoT and Cloud solutions .

The best part is this cross platform framework aids developer in coding single desktop app which can be used on Mac , Linux and Windows , which in turns helps in lower cost for overall projects .


Due to its full stack nature , it is being used for both frontend and backend development . You can also run Python program as it is cross platform like Node.JS .

Both Mac and Linux have Python previously being installed , but on Windows , you have to actually install Python interpreter by your own . Python is know to give best performance on both desktop and  web development , but at the same time is not recommended for mobile computing .

That is the reason Python is not being used in mobile apps development , but its demand in AI and IoT solutions is increasing day by day .

Therefore more Python and Node.JS is similar in terms of universality .

12. Community 


Node.JS has large number of community developers who are active on community . Since this is old language , developers from all over the world are used to of using this technology 


Python is known to be more mature than Node.JS and is open source as well . Its user community has very large number of contributors with expertise levels of experience .

As a conclusion , both Node.JS and Python has large communities . 


It impossible to state which programming language to use and which one is better . Every one of them has their own advantage and disadvantage and language selection depends on the type of project you are looking to built and then take the decision in appropriate manner .