Williston, VT – Frost & Sullivan has awarded MicroStrain® the 2009 North American Business Development Strategy Leadership of the Year Award in the sensors market in recognition of the company’s ability to grow at 40 percent per year over the last five years.
The Award recognizes the company’s ability to perceive consumer needs, develop products and services that meet consumer needs, successfully introduce products or services to the industry, and identify new market segments to expand the existing customer base. Through a combination of vision, technology, and successful marketing, the Award recipient has demonstrated superior market growth skills.
“MicroStrain attributes its success to its customers, its drive to understand customers’ needs and to innovative employees who translate these needs into products,” said Steve Arms, President of MicroStrain. The company has won nine “Best of Sensors Expo” Gold awards and two previous Frost & Sullivan awards for innovation.
MicroStrain has consistently secured government funding to develop state-of-the-art technology and has quickly transitioned these innovations into their standard products.
Frost & Sullivan’s independent report FY2009 concluded with the following:
“MicroStrain’s success in its business development strategy is illustrated by its new 19,000 square foot facility with state-of-the-art technology for its employees, to support its growing customer base, increasing demand, rapid growth and research and development. Research indicates that MicroStrain’s strategy has been and will always be to work with its customers to introduce the latest in advancd sensing technology. For its ability to execute an innovative business development strategy within the existing competitive landscape empowering the company to grow despite the current economic turmoil, to base product innovations and growth strategy exclusively on customer needs, Frost & Sullivan is once again proud to present the 2009 North American Business Development Strategy Leadership of the Year Award to MicroStrain in the sensors market,” stated Frost & Sullivan’s industry analyst, V. Sankaranarayanan.
The Frost & Sullivan Award for Business Development Strategy Leadership is presented each year to the company that has demonstrated excellence in business development within the industry. Analysts at Frost & Sullivan monitor major participants in industry and conduct interviews with the companies, customers and suppliers, and carry out extensive technology and secondary research to determine which company should receive the award.