With the invention of computers and the subsequent expansion of their use with the Windows operating system in 1985, humankind made tremendous strides towards comfort and utility. So naturally, everyone wishes for a personal assistant to help them with everyday activities. Fortunately, the Internet of Things proved to be a genie for many who desired this luxury.
As a consequence of internet-enabled devices, IoT emerged as one of the most critical technologies of the twenty-first century. With the ability to connect everyday products such as kitchen appliances, automobiles, thermostats, and baby monitors to the internet via embedded devices, seamless communication between people, processes, and things seem conceivable. It has become a part of our daily routine that the Internet of Things market continues to thrive despite the chip shortage and the long-term consequences of COVID-19 on the supply chain.
According to IoT Analytics, by the end of 2021, the global number of connected IoT devices has increased by 9% to 12.3 billion active endpoints. By 2025, it is estimated that there will be over 27 billion IoT connections. It is, unquestionably, a thriving market, and investing in it is a no-brainer.
5 Canadian Internet of Things (IoT) Stocks You Should Invest In
Here are some booming IoT stocks to invest in for all Canadian investors looking for excellent investment opportunities that ensure sustainability and profitability.
Reliq Health Technologies Inc. (TSX.V:RHT)
Reliq Health Technologies, a dedicated group of clinicians, healthcare specialists, and technologists, is a global healthcare technology firm that focuses on creating new community care solutions. The company intends to change healthcare delivery to traditionally underserved and high-risk patient populations by utilizing technology to connect clinicians with their patients outside of clinic settings. The iUGO Care software platform from Reliq offers a virtual care system that enables care coordination and community-based healthcare.
The major products of this company include Remote Patient Monitoring (RPM), Chronic Care Management (CCM), Telemedicine, and Wound Care. Reliq expands its services to patients with musculoskeletal and respiratory problems by including five new Remote Therapeutic Monitoring/Treatment Management codes now reimbursed by CMS. In addition, Reliq Health has inked implementation plan agreements with existing clients. As a result, it expects to onboard over 10,000 new Remote Therapeutic Monitoring patients to its iUGO Care platform this year, with an average monthly income of US$40 per patient. Reliq could generate an additional CDN$6 million in annual revenue once these new clients have been onboarded, which will begin later this month.
The working for Reliq capital increased substantially from $938,892 on June 30, 2020 to $2,433,443 on March 31, 2021. Reliq signed a new contract with a California-based Care Management Network that includes 50 clinics and 500 physicians. Trading at $1.00 as of February 23, 2022 (12:25 pm), the company provides an excellent investment opportunity. A healthy trade volume of 277,354 hints at the stability of this stock.
Cisco Systems Inc. (NASDAQ:CSCO)
Cisco Systems Inc. is the largest hardware and software provider in the networking solutions industry. This software company covers various products ranging from networking, software, Internet of Things (IoT), and mobility to security systems, data centers, and cloud computing. Headquartered in San Jose, United States of America, Cisco Systems Inc. has about 79,500 employees and 275 office locations across 88 countries. Its business model is focused on developing subscriptions and recurring sales, which aligns with Cisco’s initiative to grow software and services.
The NFL and Cisco collaborated to protect the country’s largest sporting and broadcast event. The NFL and Cisco collaborated to preserve the country’s most important sporting and broadcast event.
Before, during, and after the game, end-to-end visibility was provided by a full suite of Cisco Secure products backed by Cisco Talos threat intelligence. More than anything else, the financial reports say volumes about the company’s performance. With total Annualized Recurring Revenue (ARR) of $21.9 billion in the second quarter of fiscal 2022, up 11% year over year, Cisco made a solid business model transition. In addition, the dividend increased by 3%, and an additional $15 billion has been authorized for stock repurchases.
Trading at $55.69 as of February 23, 2022 (12:50 pm), the stock holds a promising future. An astonishing market cap of 235,111,237,113 is enough to prove its profitability.
Memex Inc. (TSX.V:OEE)
Memex Inc is a technology-based corporation situated in Burlington, Ontario that operates out of rented facilities. It creates, markets, and manufactures various products for customers in the discrete manufacturing and aerospace industries worldwide. For customers who want to realize the promise of IIoT and Industry 4.0, Memex Inc.’s innovative manufacturing toolkit makes data-driven manufacturing a daily reality. The toolkit’s foundation is MERLIN Tempus software. MERLIN increases average productivity by 10% to 50% and pays for itself in less than four months, with an Internal Rate of Return of more than 300 percent.
The primary product categories for this company are Manufacturing Execution Systems (MES), Industrial Internet of Things (IIoT) Hardware, and DNC & Memory Upgrade. Memex reported sales of $825 thousand in the fourth quarter of fiscal 2021, up from $500 thousand the year-ago quarter, which amounts to an increase of 65%, and an 8% rise from the third quarter of fiscal 2021, which ended June 30, 2021. In addition, the $247 thousand in cash generated from operations (before changes in non-monetary items) was $227 thousand more than the $20 thousand in cash generated from operations in the prior period.
Trading at $0.025 as of February 23, 2022 (1:12 pm), it is projected that the company would ensure a considerable return on investment and, thus, be a successful investment. In addition, the P/E ratio of 27.00 is a vital sign that hints at the profitability it holds.
BeWhere Holdings Inc. (TSX.V:BEW)
BeWhere (TSX.V: BEW) is a Mobile Internet of Things (“M-IoT”) solutions firm that develops and distributes hardware with sensors and software applications for tracking real-time data on non-powered fixed and mobile assets and monitoring environmental conditions. In addition, the firm creates stand-alone mobile apps, middleware, and cloud-based solutions easily connected with current technologies. BeWhere utilizes the most cutting-edge cellular technologies (LTE-M and NB-IoT) to provide customers with low-cost sophisticated technology for implementing a new degree of insight into their enterprises.
BeWhere, a Mobile Internet of Things (M-IoT) company, presented at the 6th annual MicroCap Leadership Summit on Friday, September 24th, 2021. In the third quarter, the company achieved its highest quarterly net profit. The net profit for the three months ending September 30, 2021, was $145,132, up from $25,808 in the same time in 2020: a $119,324 increase amounting to a rise of 462%. In addition, the gross profit increased by 24%, while the total revenue increased by 12% from 2020 to 2021.
Trading at $0.215 as of February 23, 2022 (1:39 pm), the prospects for this stock look bright. Despite being one of the top penny stocks, TSX Venture, the stock holds immense growth potential.
Alarm.com Holdings Inc. (NASDAQ:ALRM)
Alarm.com Holdings Inc is a connected home platform provider that offers software-as-a-service, or SaaS. Home and business owners can use the platform to safeguard their premises and automate and control a variety of linked gadgets. The firm’s major sources of revenue are SaaS and license fees from service providers who resell these services and pay Alarm.com a monthly subscription.
The company’s total revenue climbed 21.1 percent year over year to $192.3 million in the third quarter, while revenue from SaaS and licenses grew 17.9% year over year to $118.1 million. As of September 30, 2021, total cash and cash equivalents were $700.3 million, up from $253.5 million as of December 31, 2020, which is an increase of 176.6%.
Trading at $66.635 as of February 23, 2022 (1:55 pm), analysts predict that the company will see record growth in the coming years. An impressive market cap of 3,335,777,420 while a simultaneous EPS of 1.14 directly equates to massive success for the company and the investors alike.
Why You Should Invest in IoT Stocks in Canada
In this digitized world where AI has taken up most of the human jobs, the future for IoT seems everything but dull. While cryptocurrency may be the buzzword of this decade, IoT is quietly eating into investors’ wallets. Internet of things (IoT) gadgets are rapidly infiltrating every household, warehouse, and storage facility.
The Internet of Things (IoT) has been dubbed the driving force behind the fourth Industrial Revolution, credited with increasing productivity, revolutionizing business models, and reinventing how businesses engage with their consumers, stakeholders, and suppliers. No wonder analysts project a trillion-dollar turn out from this market by 2025. Yet, while 96 percent of senior business leaders expect their businesses to use IoT in some manner by 2020, and 68 percent are already on board, it appears we’ve only scratched the surface of what IoT can provide in terms of profitability, sustainability, and new income sources.
With smart devices more common than ever, connected devices and everyday objects make life much easy. The digital transformation of medical devices exemplifies how deeply embedded the Internet of Things is in today’s culture. Innovative companies focusing on communication solutions and consumer IoT devices are constantly launched, adding to the field’s promising future.
The Bottom Line
Analysts anticipate that artificial intelligence-controlled IoT gadgets will sweep over the world. Because most of these firms’ share price is low, it would be a sensible option to invest in them right now. Despite COVID-19’s long-term economic impact, this industry has only flourished, lending credence to analytics assertions that IoT development is, in fact, the future.
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Canadian Internet of Things (IoT) Stocks
Choosing IoT shares requires much more research. The industry is fragmented and consists of players, from pure-play stock to other large technology companies with limited exposure to IoT. Although there are plenty of companies out there, there are no safer bets, so finding the best IoT shares to buy is a good start.
The Internet of Things (IoT) encompasses devices and objects that communicate with each other and with data centers on the Internet. The world of intelligent devices, including hygiene supplies, refrigerators, dog collars, and locomotives, is connected to a networked network of everyday devices connected to the Internet. These devices can communicate with each other to exchange data. Shares of the Internet of Things share companies that manufacture these devices, collect and analyze data, and take performance optimization measures.
Especially now, with the metaverse and growing connectivity with virtual reality, these virtual reality companies depend on IoT for many functions.
The Internet of Things (IoT) is the foundation of a booming sector in the age of hyper-connectivity, with countless innovators providing software and hardware for everything from smart homes and cars to medical devices and manufacturing. The leading players that have benefited from the growth of IoT have been Amazon, Microsoft, Oracle, Intel, Qualcomm, NXP Semiconductor, Analog Devices, IBM, Cisco, AT & T and Bosch. As a result, Internet of Things stock or IoT stocks has the power to make big money as the industry grows.
The Internet of Things (IoT), one of the hottest and fastest-growing segments of today’s technology space, includes a wide range of devices for data exchange and connectivity. For example, most everyday electrical devices such as lamps, clocks, cameras, computers and doorbells are connected to the IoT. Although some fall outside the scope of IoT extension, it is one of the major driving forces behind 5G wireless technology stocks.
Over the next four years, people and businesses will connect more than 41 billion IoT devices to the Internet. Moreover, by 2025, there will be 22 billion connected devices capable of sending data to and from the Internet. Indeed, connecting everything to the Internet has become such a popular idea that large technology companies are trying to figure out how to benefit from the broader Internet of Things (IoT) by 2025.
The good news for investors is plenty of Internet of Things (IoT) shares to buy. Right now, I think that the best way to invest in IoT stocks is in the larger companies that have billions of dollars needed to purchase and develop the technology.
With the kind of growth that will present an opportunity, we have used the TipRanks platform to look at two IoT companies whose shares seem poised for gains in this environment. Both are strong stocks with double-digit upside potential after recent substantial gains. In addition, the contributors to our Wall Street Best Digs Advisory keep pace with the industry, and the three company names we find in our recommended IoT shares for purchase in our newsletter look promising.
On 29 December 2020, to identify the 14 best Internet of Things stocks to buy, we started with 47 shares in the Global X Internet of Things ETF (SNSR) and were able to reduce our list to 14 stocks based on hedge fund sentiment. As we go through our list, you will find that STMicroelectronics NV and Advantech Co. Ltd. are the two top picks in the fund. Still, as they are not listed on the US market, we have not included them in our rankings because the sentiment data for hedge funds cover only the US. Markets.
In general, Microsoft’s cloud computing platform Azure IoT solutions help companies collect data and gain new insights to run their own IoT technologies. Microsoft is also consistently working on quantum computing solutions. On the software side, it provides the Cisco Kinetic Platform and other tools for securing IoT data and devices. The second company we looked at, Itron, has a product catalogue that covers all aspects of its Internet of Things universe: hardware (electricity meter modules, sensors, network communication devices, automation of meter management and readings, smart city systems), software (analytical services, smart payments, etc.
Cisco is very sensitive to global economic conditions. With its customer base, which includes many large companies, organizations and governments, investing in the stock is an excellent way to expose yourself to the IoT.
The share of the Internet of Things is about the idea of embedding everyday objects with network connectivity so they can send and receive data. Impinj is not sure of any investment, but his company has been watching the IoT space closely. We have seen the power of a pacemaker monitored by a phone app. We know that the company is setting up its clinic, so it will continue to play an essential role in the Internet of Things with smartwatches, speakers, home assistants and more.
Subscribers can use the software to manage Internet-enabled devices such as surveillance cameras, lights, locks, thermostats, and many other supported products. The company also has 5G modems and other connectivity chips in Internet-enabled cars and industrial IoT devices. In addition, the Internet of Things can link devices and applications to reduce the possible risk of the spread of viruses and provide appropriate monitoring systems for high-risk patients.