Verizon Communications Inc. (VZ – Free Report) recently collaborated with Amazon Web Services, Inc. (“AWS”) to fully migrate its fleet management software platform – Verizon Connect Reveal – to the cloud service subsidiary of Amazon.com, Inc. (AMZN – Free Report) . This is likely to deliver a better experience to customers and help business enterprises use connected data for driver safety and sustainability.
Verizon Connect Reveal offers customizable GPS fleet management software to effectively track vehicle locations and driver behavior like speeding, idling and harsh driving to improve fleet operations. This, in turn, helps reduce costs for vehicle maintenance and fuel consumption while improving dispatch, routing and visibility by proactively allocating resources for optimum utilization.
Fleet operators had historically utilized 3G devices to track vehicles that often failed to provide precise data in remote locations that lacked extensive network coverage. By migrating to 4G and cloud networks, fleet operators will be able to identify accurate location data for faster routing facilities by deploying the closest vehicle to customers. With the Verizon Connect Reveal app, which is exclusively available in the 4G network, customers will benefit from a new High-Fidelity Tracking feature. This asset tracking software offers a three-fold jump in the frequency of real-time vehicle location updates on the Live Map, thereby providing higher visibility of project-critical equipment.
Amazon’s AWS will help Verizon Connect Reveal users enjoy extended wireless network coverage, higher bandwidth and lower latency. AWS has created a niche market in the cloud computing domain with a mix of infrastructure-as-a-service and packaged software-as-a-service offerings. The firms will work in unison to fast-track a seamless transition for customers to the cloud. The strategic partnership is also likely to standardize and optimize applications within the AWS environments to help enterprises accelerate innovation, reduce risks and improve efficiency levels.
With one of the most efficient wireless networks in the United States, Verizon deploys the latest 4G LTE Advanced technologies to deliver faster peak data speeds and capacity for customers, driven by customer-focused planning, disciplined engineering and constant strategic investment. The company remains focused on making necessary capital expenditures due to the expansion of 5G mmWave in new and existing markets, the densification of the 4G LTE wireless network to cater to huge traffic demands across multiple verticals and the continued deployment of the fiber infrastructure.
Verizon’s 5G mobility service offers an unparalleled experience that impacts industries as diverse as public safety, health care, retail and sports. The company’s 5G network hinges on three fundamental drivers to deliver the full potential of next-generation wireless technology. These are massive spectrum holdings, particularly in the millimeter-wave bands for faster data transfer, end-to-end deep fiber resources and the ability to deploy a large number of small cells. In order to expand coverage and improve connectivity, Verizon has acquired 161MHz of mid-band spectrum in the C-Band auction for a total consideration of $45.5 billion. These airwaves offer significant bandwidth with better propagation characteristics for optimum coverage in both rural and urban areas.
The company is continuing with the aggressive rollout of 5G Ultra Wideband service to expand its coverage across the country. It is also offering the best of LTE and 5G Ultrawideband facilities with the launch of On Site 5G — a transformative on-premises, private 5G network — for business enterprises. This customized solution enables firms hitherto crippled with coverage gaps, lost connectivity, fractured security, data congestion and inconsistent service quality to have a dedicated capacity with adequate bandwidth to minimize costly downtime and missed opportunities.
The stock has lost 10.6% over the past year compared with the industry’s decline of 11.5%. Nevertheless, we remain impressed with the inherent growth potential of this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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KVH Industries delivered an earnings surprise of 20%, on average, in the trailing four quarters. Despite global supply chain disruptions, KVH Industries is driving growth and margin expansion through new product introduction and subscriber migration to High-Throughput Satellites.
This Zacks Rank #2 (Buy) stock aims to make decisive inroads into the still-nascent autonomous transportation markets with a strong balance sheet position and zero debt. If KVH Industries manages to effectively mitigate supply chain woes, there could be further room for cash flow expansion.
TESSCO delivered an earnings surprise of 55.4%, on average, in the trailing four quarters. It carries a Zacks Rank #2. Earnings estimates for TESSCO for the current year have moved up 28.8% since March 2021.
TESSCO offers products to the industry’s top manufacturers in mobile communications, Wi-Fi, wireless backhaul and related products. With more than three decades of experience, it delivers complete end-to-end solutions to the wireless industry.