Samsara (NYSE:IOT) is a cloud-based company that monitors and manages fleet operations and physical assets. Despite being a nascent company, Samsara has grown impressively, with an ARR of over $795M, and has a small market share. The company has identified a Total Addressable Market (TAM) of $55 billion for 2021, expected to grow at a 21% CAGR to $96.9 billion by 2024. Gartner estimates the Telematics market size to be around $33 billion in 2021, with a projected CAGR of 25% to reach nearly $64 billion in 2024. Samsara offers software solutions for physical operations across various sectors, including construction, field services, utilities and energy, wholesale, government, and more. I maintain a hold rating on IOT and currently do not have a price target on the stock.
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