Deal marks first in a series of projects targeting Fortune 500 enterprise IoT customers looking to improve operational efficiencies by securely digitizing their businesses
SAN DIEGO--(BUSINESS WIRE)--Jan. 8, 2018-- Inseego Corp. (Nasdaq: INSG), the global leader in software-as-a-service (SaaS) business intelligence solutions, Internet of Things (IoT) and mobile technology, and Sprint (NYSE: S) today announced a new strategic partnership designed to deliver highly specialized IoT solutions for large enterprise verticals. The partnership has already resulted in a project to deploy its Ctrack asset tracking SaaS solution with a leading U.S. based airline operator.
IDC Research(1) projects that by 2021, global IoT spending is expected to total nearly $1.1 trillion as enterprise organizations continue to invest in the hardware, software, services, and connectivity that enable the IoT. An analysis released earlier this year indicates that airport facilities automation alone will experience a 33% CAGR. The IoT will be a fundamental enabler for a wide range of operational improvements within airports from preventative maintenance of Ground Support Equipment (GSE) to an overall better passenger experience. GSEs represent a growing market with a projected valuation of $25B by 2022 (2), in which each asset will require connectivity as the digital transformation continues to evolve.
Under the terms of the partnership, the two companies will collaborate on the development of specialized solutions for Sprint’s Enterprise IoT accounts. The solutions securely automate workflows for asset management and monitoring applications within asset-intensive industries. The target industry verticals include Aviation, Transportation, Logistics, and Manufacturing. A study conducted by Forrester and SAP shows two-thirds of companies in these sectors are using or planning to use IoT-enabled asset monitoring solutions.
“We’re thrilled to partner with Sprint as we launch this new strategic relationship. Our common goal is to help large enterprises automate business processes with secure and specialized IoT solutions that enable data-driven decision making,” says Dan Mondor, CEO of Inseego Corp. “The opportunity for Enterprise IoT is now and Inseego’s solutions for specific Industrial applications are designed from the ground up to optimize asset utilization and business processes. We envision the partnership to evolve to include Inseego’s next gen IoT devices and business intelligence cloud platforms powered by 5G broadband technology. Smart city, industrial automation, massive machine connectivity, and self-driving cars have a common requirement – 5G for gigabit speed connectivity that is ultra-reliable and low latency. The timing of Inseego and Sprint combining forces in a long-term partnership couldn’t be better.”
“The time to elevate operational efficiencies and reduce costs with real-time connected IoT technologies is here, and Sprint has been at the forefront of powering that revolution, said Jan Geldmacher, president,” Sprint Business. “Our collaboration with Inseego enables us to deliver unique, customizable solutions to our customers dealing with high-value assets within complex ecosystems that can be constrained by lack of visibility. The powerful combination of our network spectrum resources, IoT technologies, and our relationship among the SoftBank Group of companies, coupled with our dedication to deliver immense support through a single point of contact provides customers with a unique solution.”
IoT-enabled secure asset monitoring solutions track a variety of physical assets: human and non-human, moving and stationary, on-premise or remote. Inseego’s solution lets organizations manage the location of the asset, the condition of the asset and lifecycle of the asset. Also, it provides intelligence to automate workflows, real-time alerts and visibility, insights from data, dynamic edge control of assets, predictive and preventative maintenance, cross-domain analytics, even ERP integration across multiple organizations, all powered by the Sprint IoT network.
To learn more about airport solutions by Inseego: https://www.inseego.com/amsterdam-airport-schiphol/
For more information, visit Sprint and Inseego at CES in Las Vegas, January 9 – 12, 2018
Cited References:
1) IDC Press Release, “IDC Forecasts Worldwide Spending on the Internet of Things to Reach $772 Billion in 2018,” December 7, 2017
IDC Press Release, “Worldwide Spending on the Internet of Things Forecast to Reach Nearly $1.4 Trillion in 2021,” June 14, 2017
2) Markets and Markets Report Description, “Ground Support Equipment Market by Type (Electric, Non-Electric, Hybrid), Application (Passenger Service, Commercial & Military Cargo, Aircraft Service), End Use (Commercial, Defense), Component (Equipment, MRO), and Region - Global Forecast to 2022,” July 2017
About Inseego Corp.
Inseego Corp. (Nasdaq: INSG), the global leader in software-as- a-service (SaaS) business intelligence solutions, Internet of Things (IoT) and mobile technology, is transforming business mobility through its broad portfolio of solutions. We enable a wide array of applications for worldwide enterprise and SMB markets with our asset tracking and carrier activation solutions. Inseego’s high-performance Skyus modems and gateways, and MiFi branded intelligent mobile devices power a wide array of consumer, SMB and mission critical enterprise applications with a “zero unscheduled downtime” mandate - including industrial IoT, SD WAN failover management and broadband mobile WiFi hotspots. Inseego is headquartered in San Diego, California with offices worldwide. www.inseego.com Twitter @inseego
About Sprint
Sprint (NYSE: S) is a communications services company that creates more and better ways to connect its customers to the things they care about most. Sprint served 54 million connections as of Sept. 30, 2017 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; leading no-contract brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, as amended to date. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements contained herein. These factors include risks relating to technological changes, new product introductions, continued acceptance of Inseego’s products and dependence on intellectual property rights. These factors, as well as other factors that could cause actual results to differ materially, are discussed in more detail in Inseego’s filings with the United States Securities and Exchange Commission (available at www.sec.gov) and other regulatory agencies.
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Source: Inseego Corp.
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