PERTH: Connected IO Limited (CIO) has grown its penetration into the large United States automotive internet of things (IoT) market. CIO currently generates communication solutions that provide real time streaming capability for surveillance cameras and digital video recorders in commercial vehicles such as buses and trucks. [the_ad id=”31605″] In addition, Connected IO Limited (CIO) products now enable Wi-Fi capable batteries, various types of sensors such as collision sensors, cargo sensors, temperature sensors and artificial intelligence devices to report data in real-time via always-on SIM card data connection.
The Company has cash receipts of A$794K from the US automotive IOT sector in the first 5 months of the 2019 calendar year. CIO is working on growing its existing customer relationships in this sector while developing new ones as the technological needs in the ever-increasing electronic sophistication of automobiles increases, particularly with the potential evolution of electric vehicles.
Revenues generated in the automotive IOT segment over the first 5 months of 2019 represent a 23% increase over total revenues generated in the 2018calendar year.
Yakov Temov, CIO Managing Director commented: “We are very pleased to be in the position to cater to the quickly growing Automotive IOT space. Connected IO’s innovative product portfolio and open platform lend themselves to both retro-fitting existing vehicles with state-of-the-art capabilities and capturing a significant slice of the new market for hybrid and fully electric vehicles. Permanent Internet connection enabled by Connected IO’s cloud routers and modems becomes a necessity as vehicles evolve and become more intelligent.”