Well positioned to thrive in 2021
While COVID-19 shook up global markets last year, it has only strengthened our unique offering
More than anything, 2020 will be remembered for the global COVID-19 pandemic; the uncertainty, the suffering, and the losses it caused. At the turn of the new year, there is light at the end of the tunnel, as vaccines, developed at record speed, are distributed to those in need. May we round the corner in 2021, gain the upper hand on the pandemic and stop its spread.
One thing that is becoming clear across the megatrends that drive our corporate strategy and, ultimately, our business, is that wireless is unequaled as a connectivity technology. In healthcare, the growing role of data in diagnosing disease, delivering care, and cutting costs is making wireless technology indispensable. In mobility, it is enabling smart micromobility solutions, increasingly connected cars, and advanced driver assistance systems. In the industry, it is driving automation, boosting resilience, and increasing productivity. And in homes, buildings, and cities, it is increasing convenience, efficiency, and safety.
Our customers are optimistic. So are we.
Talking with our customers, despite the vast and varied challenges that the global COVID-19 pandemic brought upon our business in 2020, we see ample ground for optimism going forward. One thing that is becoming clear across the megatrends that drive our corporate strategy is that wireless is unequaled as a connectivity technology. If anything, the pandemic has bolstered the case for connected technology, driving up adoption rates the world over, as people have sought out contactless experiences that do not leave them isolated: remote work, online medical consultations, virtual events, online shopping, micromobility, and the list goes on. It's a trend that is unlikely to be reversed, particularly now that the technology has proven itself. Demand for airborne or terrestrial autonomous vehicles, electric vehicles, EV charging stations, and industrial automation is also high.
Carmakers' R&D activities are aligned with autonomous driving as their North Star, with cloud connectivity and edge intelligence two key prerequisites for achieving autonomous control. u-blox is on track to delivering two others, high precision positioning and functional safety, thanks to continued investment and leadership. And wireless connectivity is shaping up to be an essential enabler for electric vehicle (EV) charging infrastructure, which is in high demand as EVs grow their market share year on year.
Demand from our industrial customers is growing as well. As industries connect, wireless technology will deliver accuracy and efficiency gains in operations and business. These benefits will stem from increased automation, process monitoring with wireless sensors, and airborne or terrestrial autonomous vehicle, as well as improved visibility across supply and distribution chains.
And beyond these markets, there is unprecedented demand for our technologies and services to enable solutions that promote social, economic, and environmental sustainability, and make our lives safer, more convenient, and, sometimes, simply more fun. Navigation, tracking, and wireless cloud connectivity are not only important ingredients for smartwatches, but also for a wealth of other IoT use cases that benefit municipalities, commercial businesses, and private customers.
Services will shape our future
Connectivity is a prerequisite for the broad adoption of IoT solutions to optimize productivity. But building reliable, smart, and secure connectivity can be challenging for new entrants with brilliant ideas but little to no experience in secure cloud connectivity. They need secure out-of-the-box connectivity to complement the hardware they use, allowing them to focus on what matters most to them: fine-tuning their value proposition, growing their business, and satisfying their customers.
We are addressing this need with a growing service offering. Building on our acquisition of Thingstream in April 2020, we continue to expand our service portfolio, accelerating our path towards achieving a unique and comprehensive silicon-to-cloud offering. By offering customers a one-stop-shop for hardware components and services, we help them mitigate risks and ensure that all the elements they need cooperate seamlessly and speed up time to market with a predictable cost.
Our unique offering endures
We begin this new year with a healthy dose of optimism. u-blox is in high growth markets that are defining the future. And while the global pandemic may be with us for some time, so far, it has only strengthened our offering. As the number of connected applications across our markets continues to grow, customers will be on the lookout for a connectivity partner they can rely on, and our one-stop-shop solution for positioning and wireless communication technology will ensure we emerge even stronger once COVID-19 is behind us.
