MICT Inc. (MICT)’s subsidiary Micronet Ltd recently secured a important order for its SmartCam. The new and advanced innovative telematics product used to serve global telematics markets. It works by putting advanced software and AI functionality together.
The worldwide telematics market has estimated to be worth around $45 billion. Soon after getting a go ahead by the federal agency, SmartCam started a pilot launch with a leading telematics provider. The U.S. Federal Communications Commission (FCC) authorized the product assigning 2.4 GHz, 5 GHz and LTE bands.
Micronet is in continued collaboration with that global telematics provider and order from that customer is Micronet’s first in the North America for SmartCam.
MICT’s CEO, Darren Mercer shared that the company is likely to be delivering and record effects of this major order by the end of this year. He was expecting getting more sizeable orders in 2021 because of serving this order of selling SmartCam to a global telematics industry leader. Micronet is currently working with many other customers to test SmartCam. Some of those pilot trials resumed after getting interrupted by the COVID-19. The company greatly entrusts this product and foresees more pilot trial to be converted into orders this year and the next year as well, Mercer added.
Micronet’s range of products is increasingly comprised of innovative technologies like used in SmartCam. These technologies put advanced SaaS and AI together with camera technology, providing improved overnight driver and fleet safety. This will result in generation of revenue by shifting company’s business to software-based revenue model.
SmartCam is a pioneer and all-in-one video telematics device, as believes the company. It provides an open and strong Android platform as well as ruggedized, compatible and quickly-connecting camera. These provide full support to all telematics features to be used in a vehicle. SmartCam provides a flexible, advanced and affordable mobile computing platform to manage different fleets and video analytics solution for them.