- Data gathered through ShieldSaver’s proprietary license-plate recognition technology is applicable for repairs, maintenance, insurance, purchasing, parts and more
- New ShieldSaver app allows consumers to connect, source and schedule windshield repairs quickly and at reduced cost
- The automotive glass industry was estimated at $12 billion in 2017; it’s expected to grow at a CAGR of 7 percent until 2024
SinglePoint Inc. (OTCQB: SING) continues to bolster its reputation as a diversified tech holding company with operations in multiple industries and verticals with astute acquisitions and investments. Subsidiary ShieldSaver, acquired in 2018, opens SinglePoint’s portfolio to the multibillion-dollar automotive repair and maintenance industry (http://ibn.fm/EsfSC). The significance of ShieldSaver’s proprietary license-plate recognition technology, which gathers data on both cars and consumers, is considerable, since the data has value far beyond the obvious, as a NetworkNewsAudio publication explains (http://ibn.fm/3iYdI).
The most apparent use is to identify when repairs are needed and then approach car owners about getting the work done, but the data also has value to other stakeholders (http://ibn.fm/KOhU5), such as insurance companies, parking-lot owners, parts suppliers and people buying cars, as it can give them a better understanding of both individual vehicles and the bigger picture. Efficient repair and maintenance work can have valuable knock-on effects, according to an NNW editorial (http://ibn.fm/ZXeSE) titled ‘Data and Connectivity Take Center Stage in Changing World of Automobile Technology’.
The automotive glass market exceeded $12 billion in 2017 and is expected to grow at a compound annual growth rate of 7 percent until 2024 (http://ibn.fm/lv0Vy). Increased vehicle production and sales, novel safety regulations and the demand for advanced glass technologies (smart glass, for example) are all projected to contribute to the massive growth (http://ibn.fm/56uqf).
SinglePoint’s new ShieldSaver app (http://ibn.fm/Sl8Z5) allows people to connect to ShieldSaver’s services directly from their phones, so that they can source and schedule windshield repairs quickly and at reduced cost. ShieldSaver has also developed strategic partnerships with some big names within the sector, including Mygrant Glass, Wally Park, LAZ Parking and others.
“With the new application SinglePoint led in developing over the past year, we have started to grab a lot of attention,” Dan Shikiar, founder of ShieldSaver, said in the NNW editorial. “Opportunities have started to pile up after our first showcase – people who see the ShieldSaver platform absolutely love it. We feel this market is underserved and is ripe for new technologies to streamline for customers and providers.”
SinglePoint specializes in the acquisition of small and mid-sized companies that operate in new technological fields. These acquisitions provide opportunities for investment across a wide range of assets, including payment solutions, cannabis brands, blockchain technology developers and more. Through acquisitions into horizontal markets, SinglePoint is building a solid portfolio that ensures a rich and diversified holding base.
For more information, visit the company’s website at www.SinglePoint.com
NOTE TO INVESTORS: The latest news and updates relating to SING are available in the company’s newsroom at http://ibn.fm/SING