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Based on its recent analysis of mobile backend-as-a-service (BaaS) platforms for the Industrial Internet of Things (IIoT) market, Frost & Sullivan recognizes Waygum, Inc. with the 2015 North American Frost & Sullivan Entrepreneurial Company of the Year Award. In addition to its unique end-to-end mobile BaaS platform that focuses on the IIoT, Waygum’s dynamic management team, bold product strategy, decisive partnerships, and fast-paced execution have all combined to place it on the path to rapid growth.
Waygum offers a universal mobile layer that can connect and communicate with the traditional automation tools such as supervisory control and data acquisition (SCADA) and human machine interface (HMI). Its platform suite consists of mobile BaaS, a visual application development layer, and a mobile-to-machine application programming interface (API). The third component acts an aggregator that integrates with various machine automation systems.
Waygum hopes to export its platform-as-a-service (PaaS) model to third-party application developers, which can then build customized applications. Such an innovative and open mobile platform can successfully manage the diverse requirements of industrial end users.
“Waygum is clearly in the race for the top spot in the fragmented mobile IIoT market,” said Frost & Sullivan Industry Analyst Deepak Achuthashankar. “It is making a strong play across various micro-verticals within factories, spanning both the shop floor and field devices, by growing both organically and through strategic partnerships.”
Waygum enjoys a unique brand positioning as the first end-to-end mobile BaaS platform that caters to the emerging IIoT space. Most companies have had to stitch together individual components from various vendors to create optimum workflows, but Waygum has differentiated itself by developing an architecture that can deliver and monetize mobile IIoT. The company is ideal as a long-term partner for industrial automation companies seeking to tap the high-potential IIoT space.
Waygum’s vision is to emerge as a leader that focuses solely on delivering a scalable IIoT mobile platform. This strategy will allow it to sell to industrial/manufacturing end users directly or partner with operational technology (OT) and established PaaS vendors.
Waygum’s constant emphasis on customer satisfaction is evident in its product features. Its mobile Baas solution offers seamless integration with legacy protocols and the ability to support modern Web service-based interfaces. Besides, it fosters a multi-tenant development environment in which the user experience and core applications can be controlled and pushed across the different tenants. The tenants will then be able to extend the applications for additional features.
Furthermore, the solution delivers:
• Cross-platform support for push notifications, location-based services such as geo-fencing, beacon support, centralized data storage, synchronization, social integrations, and centralized identity management services;
• A scalable, on-site, cloud-hosted platform and associated services;
• Industry-standard encryption services and security frameworks;
• Support for application development using HTML5; and
• The ability to deploy full-scale services into the mobile BaaS framework.
“Waygum’s customer-centric platform enhances clients’ ownership experience by supporting all types of legacy protocols. It also promises superior online service support and provides a consultative approach to customers, when required,” noted Achuthashankar. “Overall, Waygum has clearly understood the demands of the highly lucrative industrial sector and is perfectly positioned for significant growth in the coming months.”
Each year, Frost & Sullivan presents this award to the small company that demonstrates superior entrepreneurial ability in its industry during the research period. This award signifies the company's identification of a unique and revolutionary product solution with considerable market potential. It certifies the company's marketing strategy as sound and poised for success.
“The Entrepreneurial Company of the Year Award is bestowed by Frost & Sullivan on companies that display great agility in developing new innovative solutions or business models to serve evolving customer needs,” said Frost & Sullivan Global President and Managing Partner Krishna Srinivasan. “We are thrilled to recognize Waygum for its entrepreneurial leadership in developing its innovative mobile BaaS platform for the Industrial IoT market.”
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
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