KORE Named as a Leader in 2022 Gartner® 2022 Magic Quadrant™ for Managed IoT Connectivity Services
KORE (NYSE: KORE), a global leader in Internet of Things (IoT) Solutions and worldwide IoT Connectivity-as-a-Service (CaaS), today announced that it has been named by Gartner as a Leader in the Magic Quadrant for Managed IoT Connectivity Services. The evaluation was based on specific criteria that analyzed the company’s overall completeness of vision and ability to execute.
“For the third year in a row, KORE is honored to be recognized as a Leader in the Magic Quadrant for IoT Connectivity Services,” said KORE President and CEO, Romil Bahl. “Highlighted by our completeness of vision and strengthened by our unique capabilities to execute, KORE is proving value to customers every day across a portfolio of IoT Connectivity, Solutions & Analytics services which helps them overcome IoT adoption challenges and effectively deploy, manage, and scale their IoT solutions. As we enter the ‘Decade of IoT’, highlighted by growth from 12 billion IoT devices in 2020 to around 75 billion by 2030, KORE is positioned to globally lead the enablement of this tidal wave of growth.”
Within the last year, KORE has continued to innovate and aggressively add to its award-winning lineup of products and services, including the monumental launch of KORE OmniSIMTM – a true global eSIM solution that makes IoT connectivity more accessible and seamless. With zero-touch provisioning, customers are able to seamlessly access OmniSIM Reach™, offering coverage options to nearly 600 networks in 198 countries, and OmniSIM Rush™, providing high bandwidth performance to IoT solutions.
The company continues to develop a deep set of expertise within key vertical markets. To both build on those capabilities and to enable customers to focus on their end users, KORE has recently launched the following pre-configured solutions:
Connected Health Telemetry Solution: This bridges the gap in data communications between patient and provider with seamless and secure integration in growing segments like remote patient monitoring, decentralized clinical trials, and chronic disease care.
In-Vehicle Video: Fleet management can access industry leading in-cabin video equipment and out-of-the-box connectivity for risk mitigation on the road. KORE has introduced artificial intelligence (AI) in our fleet management vertical through our AI-enabled in-vehicle video solutions. Artificial vision scans the driver for unsafe behavior, such as cell phone use, distracted driving, and drowsiness and alerts the driver in real-time.
Core Network-as-a-Service (CNaaS): In an increasingly savvy market, enterprises can leverage the ability to build their own connectivity services through KORE CNaaS solutions. CNaaS provides flexibility and self-sufficiency to enterprises that want to manage their connectivity built off of KORE’s network-independent, multi-tenant Mobile Virtual Network Enabler (MVNE) platform.
Critical Asset Monitoring: Building off KORE telemetry solutions for supply chain and asset management, Critical Asset Monitoring (CAM) uses leading-edge sensor-enabled devices that can measure tilt, temperature, shock, and vibration for a comprehensive condition-monitoring solution designed for high-value and sensitive assets.
“We are thrilled to continue on the execution of our strategic vision and unleash the power of IoT enablement within key verticals,” Bahl said. “As we look around the competitive landscape, we do not see nearly the same level of commitment to bringing these types of pre-configured solutions to market. This, along with our expertise in connectivity and managed services, continues to position us as the global independent leader in end-to-end IoT enablement.”
This past year has also seen KORE become a successfully listed public company on the NYSE. KORE is the only global, pure-play IoT business to become a listed company.
Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries and Niche Players. The research enables you to get the most from market analysis in alignment with your unique business and technology needs.
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KORE is a pioneer, leader, and trusted advisor delivering mission critical IoT solutions and services. We empower organizations of all sizes to improve operational and business results by simplifying the complexity of IoT. Our deep IoT knowledge and experience, global reach, purpose-built solutions, and deployment agility accelerate and materially impact our customers’ business outcomes. For more information, visit www.korewireless.com.
KORE Investor and Media Contact:
Email: [email protected]
Cautionary Note on Forward-Looking Statements
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding projections of market opportunity, product and service development and related expectations and statements regarding KORE’s competitive position. These statements are based on various assumptions and on the current expectations of KORE’s management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of KORE. These forward-looking statements are subject to a number of risks and uncertainties, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; risks related to the rollout of KORE’s business and the timing of expected business milestones; changes in the assumptions underlying KORE’s expectations regarding its future business; the effects of competition on KORE’s future business; and the outcome of judicial proceedings to which KORE is, or may become a party. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that KORE presently does not know or that KORE currently believes are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect KORE’s expectations, plans or forecasts of future events and views as of the date of this press release. KORE anticipate that subsequent events and developments will cause these assessments to change. However, while KORE may elect to update these forward-looking statements at some point in the future, KORE specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing KORE’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.