As the cost of big data decreases alongside advancements in technology and satellite imaging, aerial mapping company Aerometrex (ASX: AMX) will become the primary supplier of customised 3D datasets to small businesses through the launch of their new online store.
3D datasets and aerial mapping of topography have long been reserved for multinational corporations due to the costs associated with data collection and modelling. This has commonly left smaller developers and researchers using alternative services which, according to Aerometrex, has been a market not yet addressed by the Company. With the launch of their new MetroMap online store however, SMEs will be able to purchase specific 3D datasets as one-off purchases at a fraction of enterprise contracts, or accessing additional modeling via subscription.
“The launch of our MetroMap 3D Store is an exciting development for sales of our world-leading 3D modelled data. It enables smaller clients, specifically small to medium sized businesses [SMEs] and individuals to access the 3D data they need quickly, with a minimum of fuss,” said Aerometrex Managing Director, Mark Deuter.
“Our ongoing capture program ensures that clients have access to recent data and are made aware of updates as they occur.
“This new product solution by Aerometrex meets the requirements of the Company’s customers at their time and point of need and supports us to truly penetrate the large SME market opportunity with a no-touch sales approach.”
Through the online store, SME clients will be able to select geographical boundaries within a covered area and their preferred data format before being presented a one-off cost for the selected data.
Without the expense of Aerometrex’s enterprise sales force, this will provide new revenue opportunities for the Company which draw upon existing data that would otherwise be untapped by the segment.
Common applications of Aerometrex’s data modeling and 3D imaging include urban planning, infrastructure development, property development, civil and water engineering, parks and gardens management, agriculture, forestry, mining, renewable energies, disaster recovery, insurance and coastal management.
For the Half-Year ending 31 December 2020, Aerometrex’s revenue fell 15.1% to $8.57m which was partially attributed to COVID restrictions that reduced infrastructure work. While subscription revenues for their enterprise contracts remain strong, increasing 99% on the June Half-Year, the online store is expected to drive their on-demand service which accounted for just $318k of revenue.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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