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X2M Connect Limited ( (AU:X2M) ) has shared an update.
X2M Connect Limited has entered the Japanese water digitisation market through a partnership with Azbil Kimmon, focusing on smart metering solutions. This collaboration marks an extension of their existing gas monitoring services in Japan and involves an initial software development contract valued at $200,000 for 5,000 connections, with potential expansion to 50,000 meters. The Japanese market, with approximately 60 million water meter connections, presents a significant SaaS revenue opportunity exceeding $100 million annually. This strategic move aligns with Japan’s push for digital transformation in water infrastructure, addressing challenges such as aging systems, labor shortages, and rising operational costs. The partnership is expected to leverage X2M’s experience in South Korea to enhance service delivery in Japan, offering substantial growth potential for the company.
The most recent analyst rating on (AU:X2M) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on X2M Connect Limited stock, see the AU:X2M Stock Forecast page.
More about X2M Connect Limited
X2M Connect Limited is a prominent Australian IoT technology company that provides patented solutions aimed at enhancing productivity, reducing operational costs, and improving public safety for utility and government customers. The company’s AI-powered platforms facilitate real-time data exchange, remote control, and predictive insights by connecting water, gas, and electricity meters, along with other critical sensors, to the internet. X2M’s core platform supports three product families and serves over 85 customers across five key geographies, including Japan, South Korea, Taiwan, and the Middle East.
Average Trading Volume: 1,562,284
Technical Sentiment Signal: Sell
Current Market Cap: A$10.13M
For an in-depth examination of X2M stock, go to TipRanks’ Overview page.