The San Diego Business Journal compiles a list of rapidly growing companies annually and ranks them according to revenue growth over a two year period. In 2009, FieldLogix made the 100 Fastest Growing list due to a 60% increase in revenues from 2007 to 2008. Now in 2010, FieldLogix is being recognized again for its strong revenue growth.
FieldLogix was one of the first to offer the FMI integration between GPS fleet tracking and Garmin driver navigation systems. According to a FieldLogix press release in April, FieldLogix’s Fleet Management Interface (FMI) decision to integrate telematics fleet tracking with Garmin International’s (Nasdaq:GRMN) turn-by-turn in-vehicle navigation has yielded an 830% increase in FieldLogix +NAV YTD Sales from 2009 to 2010. FieldLogix provides GPS fleet tracking systems to companies across the U.S.
FieldLogix has continued to grow dramatically and has real-time GPS devices installed in thousands of vehicles nationwide. Despite increased competition and a challenging economy, FieldLogix has successfully differentiated itself by its industry leading product offerings and customer support. Not only has the Company increased its revenues, but it has also successfully continued to improve its GPS fleet management system. The fleet GPS vehicle tracking device is a Green product that can help fleet managers to reduce both costs and vehicle greenhouse gas emissions.
Today, approximately 3.6 million GPS/wireless devices are used to monitor fleet vehicles, trailers, construction equipment and mobile workers in the United States. According to a study by C.J. Driscoll & Associates. by 2012, the fleet GPS and wireless telematics device market is predicted to expand to over 6.5 million units, and Mobile Resource Management (MRM) hardware and service revenues will grow to over $2.5 billion. Continuing market growth will be fueled by a number of factors including declining hardware costs, reliable wireless data communication networks with broad coverage, and increasing awareness of the strong return on investment provided by MRM solutions.