The Growth and Use of Industrial Internet of Things

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May 30, 2017, 09:00 ET

NEW YORK, May 30, 2017 /PRNewswire/ --

The Internet of Things (IoT) is the interconnection via the Internet of computing devices embedded in everyday objects, which enable them to send and receive data. IoT is the next-generation technology, which offers traffic-less transportation by allowing real-time data analysis. Industrial Internet of Things (IIOT) is the use of IoT technologies in manufacturing. According to a research conducted by Markets and Markets, the IIoT market is expected to reach USD 195.47 billion by 2022, at a CAGR of 7.89% during the forecast period. The factors driving the growth of the market include technological advancements in the semiconductor, electronics industries, and the evolution of cloud computing technologies. TrackX Holdings Inc. (OTC: TKXHF), Globalstar, Inc. (NYSE: GSAT), Aerohive Networks (NYSE: HIVE), Black Box Corporation (NASDAQ: BBOX), Inseego Corp. (NASDAQ: INSG).

A report by Forbes explains the popularity IoT in the today's business environment, "Business leaders are asking how IoT can help their companies increase customer satisfaction, improve quality, support new business models (such as data-driven services), and reduce costs," the report claims. In response to this, BCG completed an extensive analysis. BCG found that, "the ten most valuable use cases include the ability to use sensors to predict when machinery will need to be repaired, self-optimizing production, automated inventory management, remote patient monitoring, smart meters, track and trace, connected cards, distributed generation and storage, fleet management and demand response."

TrackX Holdings Inc. (OTC: TKXHF) is an enterprise Industrial Internet of Things (IIoT) software platform provider leveraging multiple auto-ID technologies for the comprehensive management of physical assets. Earlier today the company announced, "TrackX Reports a 414% Increase in Revenues Over Same Six-Month Period in Previous Year, New CFO Announced... the financial and operational highlights from its second quarter ended March 31, 2017. All results are reported in Canadian dollars. (TSX-V: TKX)

Financial Highlights:

- Revenues for the six months ended March 31, 2017 were $2,960,693, a 414% increase over the $576,378 reported for the six months ended March 31, 2016.

- Revenues for the three months ended March 31, 2017 were $1,327,502, a 334% increase over the $306,311 reported for the three months ended March 31, 2016.

- Gross margin for the three months ended March 31, 2017 was $454,953, representing 34.3% of revenues versus a negative gross margin of ($146,376) for the comparable three month period ending March 31, 2016.

- Adjusted EBITDA loss for the three months ended March 31, 2017 was $885,521 compared to a loss of $410,262 for the prior year's comparable period.

"Several catalysts occurred during the quarter that contributed to our positive growth," said President and CEO Tim Harvie. "We expanded our reach via our partnerships with Barcoding and All Premium. Going forward, our oversubscribed private placement solidified the company's balance sheet to ensure that we can capitalize on new opportunities to grow our business."

New CFO Appointment - In addition, the company has appointed Mr. Gene McConnell, CA, of Denver, CO as Chief Financial Officer. Mr. McConnell is a partner with C Squared Solutions, LLC whose more than 30-year career includes serving as Chief Financial Officer, Chief Operating Officer and Controller for companies in the technology, software, service, cable, manufacturing, finance and medical and dental products sectors...

Globalstar, Inc. (NYSE: GSAT) strives to launch the world's best satellite system. On April 10th, Globalstar announced that it will launch a new compression service for the satellite industry - this effort will include rolling out compression services developed by Yippy, Inc. to Globalstar's subscribers as well as providing this technology to other MSS providers and FSS operators. The compression technology has completed extensive qualification testing and verification and has recently concluded production level testing for Globalstar's second generation network using the Hughes Network System radio access network and Ericsson core network. Other service providers will also have the ability to embed the technology into their respective networks starting this year.

Aerohive Networks (NYSE: HIVE) enables customers to simply and confidently connect to the information, applications, and insights they need to thrive. On May 23rd, Aerohive Networks announced the expansion of the Aerohive Connect™ product line, using the power of cloud networking to deliver the essential functionality businesses need to provision robust Wi-Fi connectivity, whether at one or thousands of locations. Aerohive Connect allows organizations to grow as they go, simplify their network operations, and effortlessly upgrade to the comprehensive industry-leading capabilities of Aerohive Select™. With Aerohive Connect now available across the entire product line, Aerohive offers the industry's first and only fully flexible approach to high-performance connectivity.

Black Box Corporation (NASDAQ: BBOX), is a leading digital solutions provider dedicated to helping customers build, manage, optimize, and secure their IT infrastructure. Black Box delivers high-value products and services through its global presence. On February 9th, Black Box Corporation, a leading digital solutions provider, announced that it has been awarded a $15 million contract from the US Naval Supply Systems Command (NAVSUP) for Consolidated Area Telephone Systems support in the greater San Diego, CA area. Black Box will provide commercial support services to sustain, maintain, and modernize Navy telephone systems and support to improve Naval communications capabilities in the region. Black Box selection will provide the Navy with improved capabilities in direct support of the legacy systems while enabling them to modernize across myriad platforms at a sustained, and controlled pace with a partner that offers significant systems support and integration capabilities across all DoD approved voice and UC platforms.

Inseego Corp. (Nasdaq: INSG) is a leading global provider of Software-as-a-Service (SaaS) and solutions for the Internet of Things (IoT). The company sells its telematics solutions under the Ctrack brand, including its fleet management, asset tracking and monitoring, stolen vehicle recovery, and usage-based insurance platforms. Inseego also sells business connectivity solutions and device management services. Recently, the company has launched a vehicle tracking solution, Ctrack Courier, aimed specifically at the courier and express delivery marketplace. Ctrack Courier has been developed to help address some of the most common and difficult challenges facing businesses in this demanding industry sector, with particular focus on security, driving behavior and operational visibility.

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