QualityStocks would like to highlight IGEN Networks Corporation (
OTCQB: IGEN). The company works with privately held technology companies to help accelerate their growth. They work closely with these companies through the sourcing of management expertise, capital, and expansion of distribution channels. They describe themselves as an “invasive” technology accelerator, in that they take active managerial roles to help mitigate operational risk and realize revenue growth and capital appreciation.
In the company’s news,
iGen Networks announced details of an innovative breakthrough on the iGen cloud platform, development of Machine-to-Machine (M2M) solutions that provide a compelling return on investment for managing small commercial fleets and protecting mobile assets. iGen is uniquely positioned to enter the M2M ecosystem with its previously established cloud-based infrastructure designed to facilitate large scale deployments.
The latest report from Infonetics Research states that there are 190 million M2M connections at present. This figure, representing connections made via cellular and other WAN wireless technologies, is expected to almost triple by 2017. If this growth is realized, this network of connections will become the largest driver of growth for operator revenue.
M2M solutions for fleets can leverage recent developments in hardware and cloud delivery technologies to capitalize on retail and e-commerce solutions that allow fleet managers to purchase and provision mobile hardware online through their smart phone. Small fleets now have the opportunity to use the solutions previously enjoyed predominantly by big fleet corporations. Small fleets represent 70% of the 13 million commercial trucking fleets in the US, and an even larger percentage of the 6 million commercial trucking fleets in Latin America. M2M solution penetration is low in both regions, 2.8 million out of 26 million vehicles in the US and 1.3 million out of 16 million vehicles in Latin America. Fleet management solutions are poised for significant growth in the near future, estimated to double over the next three years.
In the US, 1 car is stolen every 33 seconds, and vehicle owners are faced with limited choices and high insurance premiums for recovery and protection. Current M2M solutions enable not only the tracking of automotive and commercial vehicles, but also the monitoring and recording of driver behavior, vehicle health, as well as access to internet services – all at compelling costs to the consumer.
“I’m pleased to say that our investment in building our cloud infrastructure combined with our experience in these targeted market segments position us like no other company to achieve great milestones and innovation,” says iGen Networks Chief Executive Officer Neil Chan. “Through the innovative iGen Cloud Platform, we will be developing and offering solutions that can help make great impact in the M2M space. From tracking vehicles for faster and more efficient fleet management, to vehicle location and auto-recovery of stolen vehicles, M2M solutions through iGen will minimize costs and improve productivity.”
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
