Powerful Technology and Parabolic Growth – PR Newswire
NetworkNewsWire Editorial Coverage
NEW YORK , April 19, 2022 /PRNewswire/ — The Internet of Things (IoT) is easily one of the most powerful emerging technologies in the world today. As the IoT market for smart homes and connected cars (smart cars) continues on its path of parabolic growth, it’s clear that IoT presents historic opportunities. Today’s homes are increasingly connected, creating an enormous new smart-home market, and the smart-car market segment has become a nearly ubiquitous strategic development path for the auto industry as demand for constant connectivity soars. With functionality and convenience, SPYR Inc. (OTCQB: SPYR) (Profile) is delivering to consumers what they crave — smart hardware, software solutions and products that integrate with the Apple Inc. (NASDAQ: AAPL) ecosystem. Apple commands the largest share in the mobile devices market and will likely be dominant as the IoT market expands and consumers demand more privacy protection. Other tech juggernauts such as Amazon.com Inc. (NASDAQ: AMZN), Google (NASDAQ: GOOG), and Meta Platforms Inc. (formerly Facebook) (NASDAQ: FB) are also working on next-generation devices and control centers for fully connected cars and homes.
- “Smart” business is big business, including the home and auto markets expected to reach $207.8 billion and 225.2 billion, respectively, within five years.
- Applied MagiX Inc., a unit of SPYR, operates in the IoT market, developing and reselling Apple-compatible products with an emphasis on smart-home and smart-car products.
- Applied Magix’s first product, MagixDrive, converts wired Apple CarPlay into a wireless system.
Click here to view the custom infographic of the SPYR editorial.
Billions of Dollars, Parabolic Growth
According to Statista, the current smart-home market is ~$126.11 billion and compounding at 13.3% annually to reach an estimated $207.81 billion by 2026. In fairness, it’s difficult to gauge just how big the smart-home market will be considering new innovations are disrupting every corner of the space. It’s no longer just about thermostat tracking. Today, meals can be cooked, refrigerators controlled, and security monitored; the list is endless. Essentially everything under the categories of automating energy, entertainment, access, comfort, daily tasks, connectivity, and even wellness is target for the tech space to make people’s lives more convenient at home.
The global smart-car market is growing at a similar clip. Allied Market Research reports the market at $63 billion in 2019 and anticipates expansion at an eye-popping compound annual growth rate of 17.1%, which will take the market to $225.2 billion by 2027. Analysts at AMR see a confluence of drivers steering the market higher, with a rising demand for connectivity solutions, a surge in need for constant connectivity, increased dependence on tech, and an upsurge in tech-savviness all contributing to the upward swing.
SPYR Inc. (OTCQB: SPYR) is a savvy tech company that, through its wholly owned subsidiary Applied MagiX Inc., develops, creates and resells Apple(R) ecosystem-compatible products with an emphasis on the smart-home market. In addition to meeting strong consumer demand, SPYR is aggressively identifying and targeting acquisitions that will grow its footprint and expand the products it offers consumers, including companies developing artificial intelligence (AI) and a diverse portfolio of smart-technology products.
Rather than spread itself a mile wide and two inches deep trying to solve problems with compatibility, SPYR and …….