The U.S. leisure boats market was estimated at $15.8 billion in 2022. The global market is expected to grow at an annual compound growth rate of 5.57% through 2027. This demand is driven by a growth in recreational boating and water sports, especially among Millennials, which is great news for boating dealers, renters and storage facilities—dollars signs are surely dancing in their heads. But increased reward comes with increased risk, with more boats to monitor and maintain, more theft to prevent and more liability. Here’s how battery-powered GPS tracking for boats can help the marine industry improve the bottom line.
Boat dealers, renters and storage facilities manage hundreds of assets or more at any given time. Having real-time insight into where all those boat assets are located can be a challenge—not to mention a time-consuming manual inventory task. With a GPS-based boat-tracking system, boat dealers, renters and storage facilities can get an instant snapshot of where each of their boating assets are in seconds through a simple app-based dashboard. You’ll be able to flag boats that need to be moved for safety during inclement weather. You can earmark boats that have been on the water a while and might require maintenance—especially important for boat renters and storage facilities.
Boats can make easy targets because, in many cases, they can simply be towed away without much hassle, and recovery rates are relatively low. Here are the recovery rates by vessel type according to the National Insurance Crime Bureau:
With a GPS boat-tracking system, you can better prevent theft with geofencing parameters, which will alert you when an asset has gone past a set area. And, if a boating asset does get stolen, you’ll be better positioned to recover it quickly and affordably. A GPS boat-tracking system means better boat security and theft prevention.
When you can better monitor and protect your boat assets, you can decrease liability on your balance sheet. Boat dealers and renters will be better positioned to sell, finance and/or rent more assets, driving increased returns on investments. If you’re financing boating assets, a marine GPS tracking system with built-in communication technology to consumers can help reduce collection costs with targeted communications and alternative payment plans for those consumers who’ve fallen behind on payments. Boat storage facilities will increase their reputation for protecting and recovering assets. All of which helps you stay profitable and drives future growth.
PassTime leads the GPS-tracking industry with state-of-the-art technology, unmatched device reliability and top-notch service. With PassTime, you have a GPS provider you can count on when you need it most.
Our InTouch VP GPS boat-tracking system gives you unparalleled insight into your assets. Our easy-to-use app provides visual snapshots of data to help you make better business decisions, whether that’s to move boats for a coming storm or better distribute them across dealerships or rental locations. Geofencing capabilities put you in total control of boat-theft prevention. This all-in-one marine GPS tracking system helps you manage boat inventory, improve service and increase boat-theft prevention.
InTouch VP leverages Encore, PassTime’s battery-powered, wireless GPS tracking device for boats and other assets that fits in the palm of your hand and can be installed practically anywhere and activated in seconds. The rugged device is waterproof and protected against strong water spray, making it perfect for watercraft applications. Encore uses dual-technology tracking technology, which combines GPS and cellular data to ensure boat tracking practically anywhere—even where GPS alone fails, such as inside building structures or among obstructions like buildings. Flexible power modes help you maximize Encore’s battery life. With its small form factor and multiple mounting options, Encore can be placed in a secure location on the asset in seconds.
It’s time to transform your boat security, monitoring and theft prevention so you can improve your bottom line. PassTime’s InTouch VP with Encore can help. Get a free quote today.
