Trimble ( TRMB Quick Quote TRMB - Free Report) is leaving no stone unturned to expand the geospatial portfolio on the back of robust solutions and partnerships.
This is evident from the company’s latest collaboration with Infotech. Per the terms of the alliance, the latter’s Mobile Inspector Measure Service application is leveraging Trimble Access field software to ensure accuracy in the measurement of civil infrastructure projects including Federal and State Department of Transportation projects.
Further, the latest integration will help in streamlining the office-to-field workflow on the back of digital delivery technology.
The recent alliance is expected to help Trimble in expanding reach to inspectors and field staff who will be able to share geospatial measurements between Trimble software and Infotech application. This will help in collecting accurate data and minimizing data entry errors, thereby increasing field productivity as well as project delivery.
We believe the latest move is expected to drive growth of Trimble’s geospatial segment.
Geospatial Segment in Focus
Trimble is making strong efforts to boost prospects of the geospatial segment by delivering advanced technological solutions comprising integrated sensors, field applications, real-time communications and office software.
In addition to the recent move, the company collaborated with Worldsensing to include the latter’s geotechnical Internet of Things solutions to its geospatial automated monitoring portfolio.
Trimble’s operational strategies in survey workflows is helping it in gaining solid traction across surveyors, engineering and geographic information system service companies, governments, utilities as well as transportation authorities.
Notably, this segment contributed 21% to fiscal first-quarter 2021 revenues. Also, segment revenues increased 24% year over year owing to rise in new product releases in geospatial survey and strong markets across major regions including North America, Europe as well as Asia Pacific.
Trimble’s Portfolio Strength
Trimble is focusing more on strengthening the product portfolio for better positioning, modelling, connectivity and data analytics to benefit customers with enhanced productivity, quality, safety as well as sustainable solutions. The latest move is a step forward in this direction.
Last month, the company introduced Trimble Vegetation Manager, a solution to offer better management operations in vegetation and various solutions for cutting operating expenses as well as improving safety, regulatory compliance, performance, and the reliability of electric transmission and distribution infrastructure.
In addition, last month Trimble also introduced an advanced machine navigation solution, Trimble GuidEx Machine Guidance System, for efficient and faster guide machines along route corridors as well as specific target areas.
Moreover, the company’s collaboration with Horsch to develop autonomy solutions in the agriculture market for building a future for autonomous machines and workflows in the industry remains noteworthy.
We believe that these endeavors will continue to aid its performance across the end markets served by the company.
Zacks Rank & Stocks to Consider
Currently, Trimble carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector include
Carrier Global Corporation ( CARR Quick Quote CARR - Free Report) , Flex Ltd. ( FLEX Quick Quote FLEX - Free Report) and KLA Corporation ( KLAC Quick Quote KLAC - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
Long-term earnings growth rates for Carrier Global, Flex, and KLA Corp. are currently projected at 13.4%, 11.4% and 14%, respectively.
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