March 29, 2022 -- InvestorsHub NewsWire -- via NetworkNewsWire
Editorial Coverage: The Internet of Things (“IoT”) has evolved
over the last couple decades, weaving its way into daily life by
providing increased utility and functionality for everyday items.
Broadly speaking, IoT refers to the overarching technology that
connects physical items (e.g., refrigerators, door locks, HVAC) to
the internet so they can be controlled from a mobile or desktop app
to provide real-time controls and data analysis. Delivering
convenience and savings, many of these interconnected devices have
become readily available and affordable with an
estimated 46
billion connected devices in the world today. That may
sound like a lot, but the nascent market is quickly expanding,
creating plenty of opportunity for innovative companies such
as SPYR Inc. (OTCQB: SPYR)
(Profile) to
capture market share by leveraging the platforms of tech giants
such as Apple Inc. (NASDAQ:
AAPL), Microsoft Corporation
(NASDAQ:
MSFT), Amazon.com Inc. (NASDAQ:
AMZN) and Intel Corporation (NASDAQ:
INTC), which will all continue to benefit from an
interconnected global economy booming with connected devices.
- Statista sees the smart-home market surging more than 70% in
four years from $91 billion in 2020 to $159 billion in 2024.
- SPYR is in the sweet spot with its Applied Magix Inc.
subsidiary, which develops and resells
Apple(R)-ecosystem-compatible products.
- Applied Magix is 100% focused on marketing products that
integrate with the Apple HomeKit and CarPlay, a large overlooked
market segment.
- Applied Magix has launched several popular products, including
MagixDrive, innovative tech that turns wired CarPlay systems into
wireless setups.
Click here to view the custom infographic of
the SPYR editorial.
Revolutionizing the Way We Live
Smart devices abound today to the point that they’ve grown from
the idea of a single piece of equipment to that of smart homes,
smart cities, smart facilities and more; these smart networks are
merely a compilation of many devices unified in utility through a
single app. Driven by an incessant quest for convenience, security,
efficiency, automation and data, the technology has permeated into
everyday life where devices are anticipating needs and reacting to
habits without being told what to do.
The numbers around the smart market are eye popping. The
connected car market is forecast to grow from $54 billion in 2020
to $166
billion in 2025. The global smart-home security cameras
market alone is forecast by Grand View Research to grow 15.7%
annually and reach $11.89
billion by 2027. The global market for all smart devices
in a home is forecast by Statista to advance from $91 billion in
2020 to $159
billion in 2024. There was good reason Amazon shelled
out $1
billion in 2018 to buy Ring, a smart-doorbell company
rejected on Shark Tank. The strategic buyout wasn’t just about the
technology, it was for quick access into the burgeoning smart-home
market as evermore consumers seek to control their homes
wirelessly.
SPYR
Inc. (OTCQB:
SPYR) made a strategic
acquisition of its own to enter the smart-home market,
buying Applied Magix Inc., a registered Apple developer and
reseller of Apple ecosystem compatible products.
Bringing Applied
Magix under the SPYR umbrella accelerated the parent
company’s push into the smart-device market. SPYR is now laser
focused on smart-home and smart-car opportunities, specifically
users of Apple CarPlay and Apple HomeKit.
While most tech companies take a broad, “we market to everyone”
approach, SPYR and Applied Magix are highly selective and target
only device users. Fact is, with an ecosystem consisting of more
than 1
billion iPhone users and 1.65 billion devices in use in
total (as of January 2021), the population of customers of the
world’s biggest tech company is massive on its own without worrying
about catering to Android users. It is well known that Apple users
are some of the most passionate of any brand, willing to pay up for
Apple quality and seamless integration of their complete
ecosystem.
One Savvy Move: Solve Apple’s Problem
SPYR is positioned to profit from the lucrative and expanding
connected home and car markets by attaching its products to the
undisputed market leader in terms of profit metrics and the most
loyal and affluent customer base. While Apple has launched its
HomeKit, its staunch fidelity to iPhones, iPads, Macs and its
entertainment services have historically kept product development
in the HomeKit portfolio relatively scant, allowing competitors,
namely Google and Amazon, to win countertop space and other
locations in homes for smart devices.
The solution is to create smart hardware and software products
exclusively for Apple consumers. Applied Magix’s first product,
branded MagixDrive, is a wireless adapter for Apple CarPlay that
turns a wired CarPlay installation into a premium wireless
experience. MagixDrive makes it possible for people to enjoy all
the perks of CarPlay, including navigation, apps, music, streaming
services and Siri voice commands in a car without ever having to
plug their phones to a cable again.
This is a golden opportunity for Applied Magix to become front
and center with Apple users, capture market share and create a
loyal following. CarPlay, which integrates an iPhone into a car’s
infotainment screen, took the world by storm when Apple launched it
in 2014 and is now supported in more than 80% of new cars worldwide. As with other Apple
products, users love it, as evidenced by a 2018 Strategy Analytics
survey that showed 34% of CarPlay users exclusively use the
technology when in the vehicle.
Genius in Targeting the Affluent &
Loyal
Leveraging Applied Magix’s status as a registered Apple
developer to introduce an Apple HomeKit-focused brand can bear
immediate returns, especially since Apple has long been revered for
the extreme loyalty of its customers. In the consumer goods
industry, there are few things more important than loyal customers
because those customers can turn into brand ambassadors. Nobody
does this better than Apple. According to a report from research
group CIRP last year, Apple maintained a smartphone-user loyalty
rate of more than 90% for the past three years. To lend some
perspective, Samsung was second with less than 70% retention,
followed by Motorola around 40%.
Additional market research by Coldwell Banker and Consumer
Affairs shows that Apple users tend to be more affluent when
compared to Android users. And it’s not even close, considering
data showing the average iOS user earns $53,000 annually and spends
$1,212 each year on tech, versus $37,000 and $612 respectively for
Android users. Research also discovered that Apple customers are
willing to spend more than $3,000 on smart-home products.
Nationwide Commercial Campaign, Product
Bundle
Applied Magix is actively marketing its MagixDrive product
through a commercial
campaign currently running nationwide showing off the
products benefits, including automatically connecting upon vehicle
entry and the ability to use Apple Maps to locate the car. In
addition to MagixDrive, the company has launched ancillary products
in a bundle or sold separately that fit the connected-car
market.
These options include MagixCharge, an ultrafast car charger (up
to 60% faster than standard chargers) that provides 30 watts of
power across two USB type-C ports. The company is also marketing
its MagixBlock data blocker, which attaches to an iPhone charging
cable and plugs into a car’s USB port. The data blocker ensures
that only power is transferred through the cable to keep the
wireless connection uninterrupted. These products complement other
products being shipped by Applied Magix, including a secure video
camera with iCloud storage and a variety of sensors for doors,
windows and motion.
Once branded in the Apple ecosystem, Applied Magix has a
playbook for growth, including launching new products starting with
a HomeKit-compatible camera. The plan is to upend the market by
offering a high-end product at a “market-busting” price.
SPYR and Applied Magix management, including a newly
formed advisory
board, are initially setting their sights on Apple customers
throughout North America and Europe, in other words, those with the
largest profit potential, which should translate into corporate
value. To reach these consumers, Applied Magix leverages strong
relationships with third-party distributors and influencers of
Apple consumer products.
They’re Everywhere: The Ubiquity of Smart
Devices
It seems like yesterday that smart devices were novel gadgets,
attention getters to show off to friends. Not anymore. Anyone who
has been shopping for home devices lately realizes that more and
more ovens, refrigerators and microwaves come complete with
internet connectivity so a person can get dinner cooking before
they even arrive home. Realistically, the market is still in its
infancy, so there is ample headroom for companies of all sizes to
prosper going forward.
Apple Inc. (NASDAQ:
AAPL) is steadily advancing the usability of its
HomeKit while servicing its lucrative services business and running
the world’s behemoth of an app store. In its update reflecting upon 2021, Apple noted the
power of its global platform to connect businesses of all sizes
welcoming more than 600 million people each week across 175
countries. Ever scaling, the platform has led to developers selling
digital goods and services earning more than $260 billion since the
App Store launched in 2008.
Microsoft Corporation
(NASDAQ:
MSFT) was building a presence in the smart-home
space with its virtual assistance Cortana, until the company
decided in 2020 to pare back the consumer-facing functionality of
its product development to lean more heavily on the higher-margin
enterprise component of its business. That doesn’t mean Cortana is
out of the game, as Microsoft’s
support site provides details on how to program different
operating systems to enable a connected home.
Amazon.com Inc. (NASDAQ:
AMZN) is deep in the smart-device space. In
addition to its prescient $1 billion acquisition of Ring, the
ecommerce juggernaut offers a
wide array of connected consumer goods, including its
popular Fire Stick that turns any television into a smart TV where
people can use apps and, not surprisingly, order shows produced by
Amazon. Other products include smart audio sunglasses, smart
camera, smart plugs, smart speakers and smart displays under the
brand Echo, which respond to commands beginning with “Hey,
Alexa.”
Intel Corporation (NASDAQ:
INTC) may not be the headline brand on a consumer
good, but plenty of companies look to its
technology to power smart devices as well as the networks
that complete the connected loop. With increasing demands placing a
burden on home networks, consumers aren’t relaxing expectations on
flawless connectivity, which is where Intel excels, working with
its partners to make home networks faster, smarter, and more secure
with advanced home networking and wireless technologies.
What’s next for smart homes and smart cars? They already crank
out piles of data and notifications to keep their owners abreast of
everything from room temperature to how much gas is in a car. It’s
hard to speculate what’s next on the horizon, but with the onset of
5G able to move data even faster, there is a lot of exciting upside
to consider.
For more information about SPYR Inc. (OTCQB:
SPYR), please visit SPYR
Inc.
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