May 17, 2022 -- InvestorsHub NewsWire -- via NetworkNewsWire
Editorial Coverage: It’s generally accepted that the phrase
“Internet of Things” was coined in 1999 during a presentation for
Procter & Gamble. Actually, the concept was already in use more
than 15 years earlier when programmers at Carnegie Mellon
University connected a Coke machine to the internet so they could
see if there were any cold Cokes available before walking to the
machine to buy one. After four decades, the Internet of Things
(“IoT”) has become ubiquitous, making its way into essentially
every facet of day-to-day life and consumer demand for IoT products
has become insatiable. That demand has proved a boon for innovative
companies such as SPYR Inc. (OTCQB: SPYR)
(Profile) as
well as famous FAANG companies: Apple Inc. (NASDAQ:
AAPL), Amazon.com Inc. (NASDAQ:
AMZN), Google (NASDAQ:
GOOG) and Meta
Platforms Inc. (NASDAQ:
FB) (formerly known as
Facebook).
- Led by the emergence of new communication technologies, the IoT
market is forecast to rise from $300 billion in 2021 to $650
billion in 2026.
- SPYR’s Applied MagiX is expanding footprint and brand
recognition by offering products that work within the massive Apple
ecosystem.
- Applied MagiX is eying expansion into lucrative markets,
including smart lighting and potential as a new mobile virtual
network operator.
Click here to view the custom infographic of
the SPYR editorial.
IoT Hit Its Stride with 5G
The idea of “things” communicating is no longer new, but it has
always been held back by limitations in communication technology, a
factor that is getting a serious upgrade right now. To lend some
color, consider 5G, the fifth-generation of mobile networks setting
the new wireless standard with tremendous peak data speeds,
ultralow latency, increased reliability and availability, and
massive network capacity, among other enhancements. It’s widely
accepted that 5G is a game changer in the IoT space, with faster,
more stable connectivity paving the way to the next wave of
advancements in smart cities, smart homes, smart healthcare, smart
factories, smart energy grids, autonomous vehicles and more.
The effect? An IoT market that is going to experience an
explosion in applications on its way from a $300 billion market in
2021 to $650
billion in 2026. One day, believe it or not, today’s tech
will look as advanced as the telegraph did in 1830. All types of
markets are going to benefit, with many smaller markets growing
exponentially faster, such as a burgeoning eSIM market surging
31.4% annually on its way to $5.7
billion by 2030.
SPYR
Inc. (OTCQB:
SPYR) is a technology company that, through its
wholly owned subsidiary, Applied MagiX Inc., is capturing share in
the booming IoT market. Applied MagiX develops and resells in
demand products that are compatible with the Apple(R) ecosystem,
predominately in the smart-home and connected-car markets. In an
ever-digitized world, these markets are experiencing robust
expansion and are forecast to reach $138.9
billion by 2026 (MarketsAndMarkets) and $191.83
billion in 2028 (Fortune Business Insights),
respectively.
With an initial focus on Apple products, Applied MagiX has
targeted what is arguably the world’s most affluent and brand-loyal
demographic of consumers in the world. User commitment to not stray
from the ecosystem has been well earned by Apple with the
reliability and interoperability of its products, which reduces
churn and saves on user-acquisition costs. Well-received products
being offered today include MagixDrive (an adapter enabling
wireless CarPlay), MagixCharge Dual USB-C charger, Onvis C3 HomeKit
Secure Video Camera, and Onvis C1 Security Alarm and Environment
Sensor.
Leveraging the Apple Ecosystem
The strategy to focus exclusively on the Apple ecosystem is an
incredibly savvy move by an upstart; even more so than it may seem
at first blush. For starters, Apple has a spectacular user base
of 600
million people worldwide and controls the lion’s share
(56% in Q4 2021) of the total mobile phone market. When it is time
to upgrade, these users aren’t going anywhere, as evidenced by a
stunning 90% selecting another iPhone. Second, it means
that Applied MagiX can conserve R&D expenses by focusing on a
singular operating system rather than building out compatibility
for all the different type of products on the market today.
Furthermore, Apple users on average have more disposable income
and aren’t afraid to spend those funds on technology. Research
shows that Apple users typically spend twice as much each year on
their tech products (~$1,200 per year vs. ~$600). When it comes to
smart-home products, Apple is the preferred brand for millennials,
a cohort that is willing to spend more than
$3,000 on products that automate their homes. If a brand
wants to keep up with trends, jumping on the Apple bandwagon is a
smart way to go.
Working Their “MagiX”
As Applied MagiX amps revenues and works on the latest
iterations of its current products, the company is simultaneously
exploring expansion into new verticals to tap emerging markets and
add more revenue streams. First, Applied MagiX is enticing more
people to use its product and develop loyalty to the MagiX brand.
As example, late last month the company launched a summer sale
offering tech-enthusiastic customers a chance to try Applied Magix
products for the first time or stock up on products they don’t have
at a discounted price. “Applied Magix really does work their
‘magix’ with these deals, both clearing out inventory and making
customers happy,” said Tim
Matula, CEO of SPYR Technologies, in a statement. Increased
sales equal non-dilutive capital for R&D and marketing.
Upgrading and expanding is a page right out of the Apple
playbook. SPYR and Applied MagiX senior leadership is not shy about
saying that they are aggressively seeking acquisition targets.
While sticking with the theme of smart technology, the company is
actively investigating opportunities that will bring new
intellectual property under its umbrella to expand the product
portfolio, perhaps with artificial intelligence capacities,
including complementary products and those in different
verticals.
Lighting Up the Future
“In the tech business, it is always important to stay at the
forefront of the industry, and preferably several steps ahead. This
is what Harry [Applied Magix CEO Dr. Harald Zink] and Applied Magix
are doing,” said
Matula, adding that he is often “fascinated” by the tech Zink
finds. The company is obviously careful, for competitive reasons,
to not go into great detail about future products or possible
acquisitions, but it does not object to dropping hints to provide
insight as to management’s objectives to build value.
Specifically, Applied MagiX is evaluating adding smart
LED-lighting products to its lineup of home products compatible
with Apple’s HomeKit. Zink is reportedly working through the decision-making
process, including discussions with manufacturers on viability to
add LED light bulbs and atmosphere-enhancing LED light strips that
are complementary to the various HomeKit-compatible sensors it
already offers. There are a myriad of potential applications, and
Applied MatriX appears to be angling to get into a smart-lighting
market projected to reach $27.7
billion by 2026 from $10.9 billion in 2021.
Getting in the Mobile Operator Game
New technologies, such as eSIM, AI, machine learning and edge
computing are fueling growth in the mobile virtual network operator
(“MVNO”) market, which is expected to reach $91.6
billion by 2026. MVNOs have exploded on the mobile phone
scene in recent years, swiping market share from bigger peers by
offering less expensive services to consumers. For major telcos,
it’s a trade-off where they collect revenue by allowing MVNOs
access to their infrastructure.
Applied MatriX is crunching numbers with consideration to
entering the MVNO market with special mobile phone plans
exclusively for iPhone users. SPYR, who has team members with
experience in the industry, is working alongside its subsidiary to
perform due diligence into the opportunity and what customers want.
In other words, management is analyzing the mobile phone service
market to see if there is an opportunity to provide something
specific to iPhone users that could potentially lure users to MagiX
as a network provider. That could be a company maker on its
own.
Working Together
Forty years ago, the Internet of Things was little more than a
connection to a vending machine by some people too lazy — or too
smart — to walk over to see if a Coke was available. An
amazing journey, considering where IoT is today. By the early
2000s, Walmart and the U.S. Department of Defense were using RFID
to tag and track items, early indications of mass adoption of IoT.
By the 2010s, smart doorbells were becoming a thing, allowing
homeowners to remotely see who is at their doora. Now smart
consumers are embracing the ease of use and functionality of IoT in
the smart-cars and smart-home space. Little doubt the market is
headed higher with new advancements coming mainstream. Odds are
that tech giants and upstarts alike will have a helping hand in
making it happen.
Apple Inc. (NASDAQ:
AAPL), the world’s biggest company by valuation, made
a slow and deliberate entrance into the IoT market. Apple’s value and utility to IoT often goes
understated. In reality, it is one of the world’s most important
IoT companies because almost every consumer-facing IoT technology
works through a smart app available through Apple’s App Store. From
a product perspective, the company has a growing list of IoT
devices sporting its HomeKit moniker available through its online
store.
Amazon.com Inc. (NASDAQ:
AMZN) is a key player in the IoT space as well.
Best known for its massive online store and Prime
services, the
company has robust offerings that it provides for free
underneath its Amazon Web Services unit which support and encourage
development of IoT solutions. The end game is beneficial to Amazon
by generating additional business related to collecting, storing
and analyzing all the data from connected devices.
Google (NASDAQ:
GOOG) is active in the IoT market, running the
gamut of hardware and software. The company bought Nest
for $3.2 billion in 2014 to get into the smart-home
consumer goods market and also acquired
Fitbit for $2.1 billion in 2019 adding another connected
brand to its portfolio. Furthermore, the search giant offers a
comprehensive package of goods on the software side for customers
to build and manage smart devices with Google technology.
Meta
Platforms Inc. (NASDAQ:
FB), the company made famous for its Facebook social
media platform, recently changed its name to emphasize its focus on
the Metaverse. While it rebrands all its products to Meta, the
company could take a much bigger role in IoT through its wildly
popular Quest virtual reality headsets. The Metaverse for which the
company sees as the way of the future is predicated upon the
morphing of the physical world with a digital representation,
which, almost certainly, will include IoT technology to make
adjustments in the actual world from within the digital one.
Forty years ago, no one would have predicted the tsunami of tech
devices or their intercommunicability that exists today. The IoT
revolution has already made life simpler and easier. The future for
IoT is bright and is here to stay.
For more information about SPYR Inc. (OTCQB:
SPYR), please visit SPYR
Inc.
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