Our optimism was well founded
We mentioned in January how optimistic our customers were and that we, in turn, were as well. Our optimism was well founded, as we continue to see demand from customers fuelled by the product and service introductions we have made in the past. We are experiencing significant and steady growth globally across all our market areas.
The Internet of Things in the Industrial area is accelerating
Demand from our industrial customers is growing as industries connect, and IoT drives automation, boosts resilience, and increases productivity. Wireless technology is delivering accuracy, security, and efficiency gains in operations and business. These benefits stem from increased automation, process monitoring with wireless sensors, airborne or terrestrial autonomous vehicles, and improved visibility and precision across supply and distribution chains.
High demand for Assistant Services in the Automotive sector
The car industry is innovating to assist the driver more and more with Advanced Driver Assistance Systems. We are experiencing significant growth in this area across all our market regions as automobile manufacturers simplify the driving process with smart technology to support drivers, enhance vehicle safety and reduce accidents.
What do 'services' actually mean at u-blox?
We have been talking recently about the u-blox services offering, but as services can mean many things, this is what we are doing and why.
We are enhancing our products with data services to primarily:
- perfect their performance
- deliver additional value to our customers
- maintain the product over the entire lifetime in the field
- implement security principles from silicon to cloud
And why?
First off, our customers need to have a solid, secure, and well-performing product. Secondly, it is a matter of competitiveness as we want them to use the very best from u-blox. And lastly, the services business model generates return value and profit from the installed base in the field.
Uniquely meeting the IoT services market gap
We know we have identified and are meeting a vital market gap as customers with products in the field are increasingly signing up for our services. Our solution offerings are becoming more and more essential for winning new customers as they deliver more capabilities to the product, and u-blox is unique in offering such service enhancements for connectivity, location, and security.
Our acquisition of Sapcorda in March is a prime example and step forward in executing our comprehensive silicon to cloud strategy enabling u-blox to innovate and grow its GNSS augmentation services for high precision positioning.
Emerging even stronger
We are all aware of the ongoing COVID-19 pandemic and the evolving challenges it brings. Fortunately, IoT has a valued role in supporting the world as people and markets strive for resilience and recovery. u-blox will emerge even stronger as our unique solutions for reliable connected devices drive steady and robust growth.
