BlackBerry Limited (BB.T) gains traction on the road

Gaining Speed

$4.023B Market Capitalization

BlackBerry Limited (BB.T) announced today that Strategy Analytics, an independent research firm, has concluded that BlackBerry QNX software is now embedded in over 215 million vehicles globally. In total, this represents an increase of 20 million from the year before. The Company’s latest QNX growth is consistent with previous reports from Strategy Analytics.

“BlackBerry continues to be the clear market leader in safety-critical embedded automotive software, with consistent growth in vehicles count, from over 16 million in 2013 to over 215 million today. We are delighted to be trusted by automotive OEMs and Tier 1s around the world,” said John Chen, Executive Chairman & CEO, BlackBerry.

Previously, on June 21, 2021, BlackBerry announced that its QNX software was embedded in over 195 million vehicles, representing an increase of 20 million from the year prior. With this in mind, BlackBerry QNX is quite popular among some of the most popular electric vehicle automakers, including Ford, BMW, and Mercedes-Benz.

BlackBerry’s popularity as a market leader for safety-certified embedded software in automotive has resulted in the Company’s BlackBerry royalty revenue backlog to increase to approximately $650 million at the end of its first quarter of fiscal 2023. In total, this represents an increase of 14% from an estimated $490 million last year.

Frost & Sullivan Award

Additionally, BlackBerry has received design wins from industry leaders such as Aptiv, Denso, Ford, GM, Hyundai, LG Electronics, Magna, and Volvo. BlackBerry also recently announced on June 21, 2022, that Frost & Sullivan has presented BlackBerry IVY with the 2022 Enabling Technology Leadership Award for the edge-to-cloud autonomous vehicles industry.

“With BlackBerry IVY, OEMs and Tiers 1’s can focus on the development of value-added and innovative in-vehicle experiences, reduce development costs, accelerate time-to-market, and have a platform that is easily scalable to other vehicle architectures,” said Niranjan Manohar, Director of Consulting, Mobility, Frost & Sullivan.

To provide some context, BlackBerry IVY refers to the Company’s scalable, cloud-connected software platform. This platform is intended to provide developers and automakers with the ability to share vehicle sensor data through BlackBerry’s digital ecosystem, including the BlackBerry IVY cloud.

To be more specific, BlackBerry IVY enables data access across all vehicles, regardless of brand, operating system, or cloud deployment model. With this in mind, BlackBerry IVY is ideal for smart cities, allowing vehicles to not only communicate with each other but also with infrastructure and third parties.

Keep in mind that the Frost & Sullivan reward is reserved for companies who are “consistently at the forefront of innovation.” Despite a past rooted in smartphones, BlackBerry has established itself as a major competitor in the security software market. The Company is now positioned to capitalize on the rapidly expanding autonomous car market, which is expected to reach USD$11.03 billion by 2028.

BlackBerry’s share price opened at $6.70 today, down from a previous close of $6.79. The Company’s shares were up 2.80% and were trading at $6.98 as of 2:39 PM EST.