Effective asset management is crucial for every organization to improve efficiency. Wireless asset management is used to manage and monitor assets which include tools and equipment, and operations with the help of wireless technology. Wireless asset management offers on time alerts for servicing the equipment. Wireless asset management offers theft alert if in case the tool or equipment crosses the geo-restricted area. It also helps to increase asset visibility and accuracy. This asset management provides flexibility, scalability, and portability to the complete system due to wireless connection. Wireless connectivity is one of the most effective ways of communication to transfer information or power. Wireless communication is conducted by radio, free-space optical, sonic, and electromagnetic induction. The driving factor for the global wireless asset management market is rise in need for real-time asset monitoring solutions. Accessibility of information in time provides better oper...