The company offers unparalleled asset connectivity, monitoring, and management that improve key operational metrics
SANTA CLARA, Calif., April 3, 2019 /PRNewswire/ -- Based on its recent analysis of the North American market for heavy equipment fleet telematics and management, Frost & Sullivan recognizes ORBCOMM Inc. (Nasdaq: ORBC), a leading global provider of Industrial Internet of Things (IIoT) and Machine-to-machine (M2M) solutions, with the 2018 North American Company of the Year Award. ORBCOMM offers comprehensive heavy equipment solutions, which include ruggedized and purpose-built devices, efficient web applications, global multi-network connectivity, and predictive and diagnostic analytics tools, to provide fleet managers with deep insights that can aid in maximizing efficiency and profitability. A long-time leader in this market, the Company supports the complete heavy equipment value chain, from the world's largest Original Equipment Manufacturers (OEMs) to dealers and fleet owners.
"ORBCOMM's advanced IoT solutions for both on-highway and off-highway vehicle segments have proven highly valuable and elevated the profile of the company," said Gokulnath Raghavan, Industry Analyst. "In 2018, ORBCOMM grew across almost every aspect of its business. It added 70,000 net subscribers in Q4 2018, and nearly 350,000 net subscribers for the full year. It recorded a year-on-year (YoY) subscriber growth rate of 17 percent in 2018, driving the installed base to a record 2.4 million subscribers. Sales increased in 2018 by approximately 9 percent YoY, while service revenues grew by 14 percent."
To accommodate the growing need in the heavy equipment industry for more data delivered in customized formats and at greater frequency, ORBCOMM has continued to enhance its robust FleetEdge web application to help stakeholders, from C-suite executives to fleet managers, improve business planning, asset utilization, and profitability. ORBCOMM's FleetEdge reports diagnostic information, such as fault codes and sensor alerts, location, engine hours, mileage, and maintenance alerts, for heavy equipment assets, many of which are in remote, difficult to reach locations, for maximum visibility and control. Powered by ORBCOMM's global satellite and cellular connectivity and state-of-the-art devices, FleetEdge has become an integral, highly valuable component in the day-to-day business operations of the industry's leading heavy equipment companies worldwide.
FleetEdge uses the ORBCOMM IoT stack to enable big data integration and robust analytics. The scalable application is able to retrieve data directly from ORBCOMM's DeviceCloud, making it ORBCOMM's first device-agnostic, cloud-based application. DeviceCloud supports ORBCOMM devices as well as third-party devices and facilitates the management of mixed fleets from a single interface. ORBCOMM supplements these best-in-class technologies with multi-layered customer support and service-level protocols to ensure efficient and seamless deployments for fleets of all sizes, which have helped the Company achieve strong financial growth, a unique competitive advantage in the market, and a loyal, world-class customer base.
"ORBCOMM is considered the only fully-integrated solution provider in the marketplace that can deliver a comprehensive, modern, and efficient solution for assets of all types," noted Gokulnath Raghavan. "Its market leadership is a reflection of its reputation for offering the industry's most feature-rich, easy-to-integrate hardware products and its commitment to resolving all customer inquiries in a timely manner. The one-of-a-kind layered customer support protocols set ORBCOMM apart from its competition. Overall, these elaborate measures have made sure that the company continues to grow at a healthy rate in the future."
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
ORBCOMM (Nasdaq: ORBC) is a global leader and innovator in the industrial Internet of Things, providing solutions that connect businesses to their assets to deliver increased visibility and operational efficiency. The company offers a broad set of asset monitoring and control solutions, including seamless satellite and cellular connectivity, unique hardware and powerful applications, all backed by end-to-end customer support, from installation to deployment to customer care. ORBCOMM has a diverse customer base including premier OEMs, solutions customers and channel partners spanning transportation, supply chain, warehousing and inventory, heavy equipment, maritime, natural resources, and government. For more information, visit www.orbcomm.com.
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