IRVINE, Calif., Feb. 25, 2019 /PRNewswire/ -- CalAmp (Nasdaq: CAMP), a technology solutions pioneer leading transformation in a global connected economy, today announced its new Device as a Service (DaaS) subscription business model. The DaaS business model reduces the complexity of telematics deployments by offering a subscription-based service including a telematics device bundled with access to a broad portfolio of connected car micro-services, such as CrashBoxx™ crash response and driver behavior services. The subscription model enables business customers to leverage more of CalAmp's research and development investments and full portfolio of telematics services to lower their business costs and drive new revenue streams from subscription services.
The global DaaS market is expected to grow by approximately $8B by 2023 according to Market Research Future's Device as a Service Market Research Report. The growing momentum is a result of increased demand for subscription-based services that provide flexible business terms while enabling enterprise customers to bring innovative telematics solutions to market. The complexities of delivering an end-to-end telematics solution is often underestimated, leading to operational and customer service issues. A subscription service model allows enterprises to focus on their core business while leveraging CalAmp's industry-recognized machine-to-machine communications expertise to streamline the flow of data insights and deliver best-in-class telematics services.
"The device as a service model provides a cost-effective and capital efficient path for our business customers to more easily bring our telematics innovations to market," said Michael Burdiek, CEO at CalAmp. "Subscription-based models allow companies to better manage expenses and optimize operations by providing the option to adopt a range of micro-services based on business needs. We anticipate the increased level of flexibility and seamless digitalization will help us build stronger partnerships and result in greater customer loyalty while driving recurring revenue."
The new subscription model also allows enterprises to increase telematics security, ensure vehicle device compatibility and capture valuable data insights that improve customer service, while expanding client access to CalAmp's CrashBoxx™ instant crash alert services, driver safety and other connected car micro-services.
To learn more about CalAmp's DaaS business model, visit us February 25 - 28, 2019 at MWC Barcelona, stand 5C76 in Hall 5 of Fira Gran Via.
CalAmp (Nasdaq: CAMP) is a technology solutions pioneer transforming the global connected economy. We help reinvent businesses and improve lives around the globe with technology solutions that streamline complex IoT deployments and bring intelligence to the edge. Our software applications, scalable cloud services, and intelligent devices collect and assess business-critical data from mobile assets, cargo, companies, cities and people. We call this The New How, powering autonomous IoT interaction, facilitating efficient decision making, optimizing resource utilization, and improving road safety. CalAmp is headquartered in Irvine, California and has been publicly traded since 1983. For more information, visit calamp.com, or LinkedIn, Facebook, Twitter, YouTube or CalAmp Blog.
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