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Iridium (IRDM) Partners Laird to Extend IoT Capabilities
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Iridium Communications Inc (IRDM - Free Report) has announced that it will integrate its Edge Solar with Laird Connectivity's Sentrius BT610 I/O and BT510+ IoT sensors. The company has added Laird Connectivity as its Value Added Developer.
The integration will allow Laird’s low-powered sensors to connect with Iridium Edge Solar over Bluetooth Low Energy. As a result, it will help both companies to develop new features and capabilities for wireless and resilient remote operations.
The combined solution can be used in several markets and industries, including telematics, security and safety, supervisory control and data acquisition. It can also be used in the rapidly growing sensor-based applications for industrial use, remote IoT and maritime applications markets.
The combined solution can be used in diverse applications, like advanced monitoring, asset tracking, temperature control and detecting motion. It is also suitable for monitoring the engine status and wireless management of fixed assets.
Customers can pair the Iridium Edge Solar with Laird Connectivity's Bluetooth sensors by scanning a QR code via a mobile application. It allows customers to conduct over-the-air firmware updates. Overall, the companies want to tap the growing demand for IoT applications and help customers to accelerate time to market.
Per a report from Fortune Business Insights, the global IoT market is projected to grow from $662.2 billion in 2023 to $3,353 billion by 2030, registering a CAGR of 26.1%. The industry is likely to benefit from ongoing digitalization and the growing demand for Internet applications, added the report.
Iridium is the only satellite communications company that offers dedicated commercial global voice and data communications. In December, the company announced the launch of Iridium Messaging Transport to facilitate the integration of satellite connections into IoT solutions. It is designed to support small-to-moderate-sized messages and is intended to make it easier for developers to add satellite connectivity to existing or new IoT solutions.
Iridium expects commercial service revenues to benefit from growth in IoT, ongoing activations and solid uptake of its broadband services. For 2023, the company expects total service revenue growth between 9% and 11%.
Iridium currently has a Zacks Rank #3 (Hold). Shares of the company have gained 61.4% in the past year against the sub-industry’s decline of 21.3%.
The Zacks Consensus Estimate for Dropbox’s 2023 earnings has increased 10.1% in the past 60 days to $1.85 per share. The long-term earnings growth rate is anticipated to be 12.3%.
Dropbox’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.4%. Shares of DBX have increased 11% in the past year.
The Zacks Consensus Estimate for Badger Meter’s 2023 earnings has increased 4.7% in the past 60 days to $2.69 per share.
Badger Meter’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 5.3%. Shares of BMI have increased 83.6% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings has increased 7.3% in the past 60 days to $3.68 per share.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 10.4%. Shares of the company have increased 17% in the past year.
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Iridium (IRDM) Partners Laird to Extend IoT Capabilities
Iridium Communications Inc (IRDM - Free Report) has announced that it will integrate its Edge Solar with Laird Connectivity's Sentrius BT610 I/O and BT510+ IoT sensors. The company has added Laird Connectivity as its Value Added Developer.
The integration will allow Laird’s low-powered sensors to connect with Iridium Edge Solar over Bluetooth Low Energy. As a result, it will help both companies to develop new features and capabilities for wireless and resilient remote operations.
The combined solution can be used in several markets and industries, including telematics, security and safety, supervisory control and data acquisition. It can also be used in the rapidly growing sensor-based applications for industrial use, remote IoT and maritime applications markets.
Iridium Communications Inc Price and Consensus
Iridium Communications Inc price-consensus-chart | Iridium Communications Inc Quote
The combined solution can be used in diverse applications, like advanced monitoring, asset tracking, temperature control and detecting motion. It is also suitable for monitoring the engine status and wireless management of fixed assets.
Customers can pair the Iridium Edge Solar with Laird Connectivity's Bluetooth sensors by scanning a QR code via a mobile application. It allows customers to conduct over-the-air firmware updates. Overall, the companies want to tap the growing demand for IoT applications and help customers to accelerate time to market.
Per a report from Fortune Business Insights, the global IoT market is projected to grow from $662.2 billion in 2023 to $3,353 billion by 2030, registering a CAGR of 26.1%. The industry is likely to benefit from ongoing digitalization and the growing demand for Internet applications, added the report.
Iridium is the only satellite communications company that offers dedicated commercial global voice and data communications. In December, the company announced the launch of Iridium Messaging Transport to facilitate the integration of satellite connections into IoT solutions. It is designed to support small-to-moderate-sized messages and is intended to make it easier for developers to add satellite connectivity to existing or new IoT solutions.
Iridium expects commercial service revenues to benefit from growth in IoT, ongoing activations and solid uptake of its broadband services. For 2023, the company expects total service revenue growth between 9% and 11%.
Iridium currently has a Zacks Rank #3 (Hold). Shares of the company have gained 61.4% in the past year against the sub-industry’s decline of 21.3%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the broader technology space are Dropbox (DBX - Free Report) , Badger Meter (BMI - Free Report) and Blackbaud (BLKB - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Dropbox’s 2023 earnings has increased 10.1% in the past 60 days to $1.85 per share. The long-term earnings growth rate is anticipated to be 12.3%.
Dropbox’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.4%. Shares of DBX have increased 11% in the past year.
The Zacks Consensus Estimate for Badger Meter’s 2023 earnings has increased 4.7% in the past 60 days to $2.69 per share.
Badger Meter’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 5.3%. Shares of BMI have increased 83.6% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings has increased 7.3% in the past 60 days to $3.68 per share.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 10.4%. Shares of the company have increased 17% in the past year.