My business just switched from Nearmap to Metromap and I can assure you it’s more than a $1k saving (although I do note that your comment was just an example). Admittedly we have multiple seats but Metromap was a fraction of the price (although this was mostly due to us regularly exceeding our data usage) and uncapped by monthly data for a very comparable product - although I do think Nearmap’s image quality was slightly better and their captures seem to be a bit more frequent.
I do agree with your point that the weight of inertia is quite strong for market incumbents, especially in this industry, but I think people will move when the price is compelling enough. I think it’s quite telling that Nearmap doesn’t openly publish most of its pricing data, even less so it’s enterprise pricing, whereas Metromap is quite forthcoming about this.
On the other hand Nearmap is considered the industry standard in a lot of fields such as asset management / engineering so the premium is often justified but for many I believe Metromap will suffice.
I definitely still think AMX is a buy but this will depend on their growing market share in the medium term and LiDAR growth in the near term.
GLTAH
AMX Price at posting:
$1.35 Sentiment: Buy Disclosure: Held
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