16 Apr Globalstar – Aiming for the Stars with a Slew of Strategic Deals!
Globalstar, Inc. (NYSE: GSAT), a premier mobile satellite services company, announced that its subsidiary Globalstar, Inc has partnered with Cisa Trading, a company offering various commercial services such as logistics, shipment tracking and financing for the oil and gas sector. The partnership will enable the Companies to bring asset management solutions to Brazil, and have already successfully improved the operations in one of the largest oil and gas companies in the world.
As part of the contract, Cisa’s containers need to be outfitted with tracking and monitoring devices that can work through satellite technology, as their work takes them to remote areas that do not always have cellular coverage.
Juan Porras, General Manager of Globalstar for Latin America, commented,
“The O&G sector is a very concentrated and competitive vertical in Brazil. We are excited to have the opportunity to procure this business and confident the partnership with Cisa Trading will deliver an effective long-lasting solution to the contractor. “This is just one of many key steps in our company’s strategy to expand our IoT business in key verticals across the region and the globe.”
Cisa chose SmartOne Solar devices from Globalstar, which can operate for over 10 years without maintenance, are powered by solar energy and come equipped with ATEX, IECEx, IP68/69K and HERO certifications.
In February 2021, the Company entered into a global strategic alliance with XCOM Labs, a wireless technology company, to jointly commercialize XCOM’s capacity-multiplying technology, with Globalstar’s Band n53 for dense 5G deployments in the United states as well as other territories where Global star has terrestrial rights.
Jay Monroe, Globalstar Executive Chairman commented,
“The Company’s global mid-band spectrum portfolio is a significant asset and we welcome the great minds at XCOM and their technology to help us realize its full potential. Our strategy for maximizing the value of this asset is to continue to partner with the best companies possible to bring unique technologies and applications to market utilizing Band n53. Today’s announcement represents a substantial leap forward in this effort.”
Furthermore, Qualcomm has included Globalstar’s Band n53 in its 5G X65 modem, which is Qualcomm’s flagship 5G modem, expanding the company’s device ecosystem to include smartphones, laptops, tablets and IoT modules to name a few.
Globalstar, Inc. (NYSE: GSAT)
Market Cap: $1.72B; Current Share Price: 1.02 USD
Data by YCharts
The advent of the internet and rapid globalization is driving the demand for high-quality, reliable data transmission. Increased adoption of IT –based solutions, the need for networking in almost all spheres of life and growing demand for mobile and internet services are other factors which are contributing to the growth in the industry.
IoT solutions are becoming extremely crucial as more and more devices use the internet to stay connected and store information online. According to an estimate by MarketsandMarkets, by 2020 there would be over 25 billion IoT connections and this offers a significant opportunity for organizations to improve the delivery of their products and services. The rapid adaptation of IoT is changing the manner in which businesses operate by not only improving outcomes but also reducing costs, time and enhancing efficiency and security.
According to the same report, the global market for IoT solutions and services will reach USD 278.9 billion by 2024, growing at a CAGR of 14.9%, from USD 139.3 billion in 2019, driven by the rapid advancements in wireless technology and increasing decentralization. Companies are increasingly looking at IoT solutions for security, device management, application support and providing services such as real-time monitoring, customized alerts and notifications and access to cloud services. The technology is of particular interest to companies in areas such as manufacturing and transportation as it allows for remote monitoring, predictive maintenance and real-time data analytics.
According to a report by Riot Research, the global IoT-focused satellite services market is projected to reach $5.9 billion in 2025. The growth will primarily be driven by reduced barriers to entry, technological advancements and lower power consumption. Furthermore, the report estimates that by 2025, there will be 30.3 million Satellite IoT devices.
The growth in the market will be fueled by the growing demand for internet of things devices that are interconnected such as connected cars, smart cities, wearable devices, smart homes to name a few. The services rendered encompass areas such as identity access management, security analytics, application and endpoint security and intrusion detection and prevention. The technology finds application in a wide variety of industries ranging from automotive, healthcare, banking and financial services and Insurance.
Furthermore, the industry is constantly evolving and adopting new technology to ensure that it offers the best security and networking facilities available. BlockChain, Artificial Intelligence and Machine Learning are the current buzzwords in the world of IoT security, with more and more companies realizing the need for an immutable decentralized record of transactions that can offer enhanced safety, performance and efficiency.
Globalstar provides customizable Commercial IoT Solutions such as fleet asset tracking, connectivity and equipment monitoring to diverse industries including government and public safety, transportation, energy, construction and commercial maritime among others. The Company is aiming to redefine communication beyond cellular connectivity through its proprietary network of satellites that provide round-the-clock connectivity. The solutions offered by the Company include Asset Management, Personnel safety and management, emergency and remote communication and data management and mapping services to name a few.
The Company is leveraging its state-of-the art technology to offer unparalleled and reliable connectivity to users across the globe. The product portfolio of the company offers voice, data, commercial IoT and SPOT business tracking and messaging, to provide operability in areas which lack connectivity or are extremely remote. According to the Company, its two-way duplex, one-way Commercial IoT and SPOT products transmit more than 1.8 billion messages a year to carry out essential functions such as asset monitoring and IoT connectivity in over 100 countries across six continents. Globalstar has contributed to over 7,500 rescues, initiated through the help of its SPOT tracking technology.
The technology of the company enables the transmission of customer signals through use of CDMA technology, to antennas located at a suitable terrestrial gateway, and are in turn routed through the local networks, creating the shortest possible connectivity latency. The Company’s Low Earth Orbit (LEO) satellites and cutting-edge ground infrastructure deliver quality and reliability. Furthermore, it enables customers to connect to a different satellite or gateway in case of signal interruption even in difficult terrains.
The Company has 24 ground stations that act as links between the LEO Satellites and ground infrastructure across the 6 continents and offer connectivity to over 120 countries throughout the world. The ground infrastructure of the company uses Internet protocol multimedia subsystem (IMS) configuration allowing for continuous updating and adaptation.
The biggest advantage for customers is that unlike other LEO systems, they do not require international numbering plans. The Company’s system offers local dialing and pricing plans that makes the services affordable.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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