Cartrack has surpassed the one million subscriber mark. Cartrack’s rapid expansion beyond Southern Africa into Europe and Asia-Pacific has enabled it to sustain its phenomenal subscriber growth.
Cartrack Global CEO, Zak Calisto, confirms that there are few global competitors of this size and even less that are as profitable. “We have once again set ourselves sustainable growth targets, and achieving this remarkable milestone indicates that we are on track to meet them for this financial year.”
“We continue to penetrate the markets in the 23 countries that we operate in. Our culture of innovation and entrepreneurship drives us to continuously improve our multitude of solutions and to explore new ways to grow our service offering and expand our customer base. Our growth is largely due to a huge demand for our services from both businesses and consumers in South Africa and global markets.”
The business also marked its 15-year anniversary this year and is proud of the fact that it has consistently achieved an externally audited recovery rate of above 90%. The company further continues to drive innovation through interaction with customers and strategic research activities. Cartrack’s research and development centre in Singapore is now delivering its next-generation platforms and is focused on expanding its contribution to smart transportation and the Internet of Things (IoT).
Calisto concludes that future prospects remain bright for the company.
“We are part of the tremendous growth taking place in the IoT industry. Our rapid growth is testament to the value that our Software-as-a-Service (SaaS) solutions provide to customers around the world. Markets are still underpenetrated and we see significant growth ahead, both in South Africa and abroad.”