Technology is always evolving and expanding into all aspects of our lives. Advanced technical innovations have allowed much more automation to thrive, especially in our homes. The rise of the smart home industry has led to a range of new ways to monitor, control and automate functions around the home. From entertainment to security and access controls, the smart home capability expands to all facets of the house.
Market research firms all largely agree that the global smart home industry is on the verge of seeing turbo-charged growth over the next few years.
According to Mordor Intelligence, the global smart homes market was valued at $79.13 billion in 2020. By 2026, the firm estimates the market’s value will swell to $313.95 billion, which represents a compound annual growth rate (CAGR) of 25.3% between 2021 and 2026.
MarketsandMarkets estimates the global market to rise from $78.3 billion in 2020 to $135.3 billion by 2025, which represents a CAGR of 11.6% during the period.
Both market research firms see strong adoption in both developed and developing countries, as more people see expanding internet use, more disposable income, and a growing understanding of the technology’s benefits. Security and energy savings were largely seen as the two main drivers of new adoption within the smart home industry.
One company that just recently launched a line of new smart home products, including Apple ecosystem-compatible devices, is SPYR, Inc. (OTC Pink: SPYR).
SPYR Technologies: Overview
SPYR, Inc. (dba SPYR Technologies) is a Colorado-headquartered technology company that is focused on the emerging multi-billion dollar smart home industry. The company’s wholly-owned subsidiary, Applied MagiX, Inc., develops and sells Apple ecosystem-compatible products.
Applied MagiX, a registered Apple developer, was acquired by SPYR in October 2020. “With that acquisition, SPYR entered the global “Internet of Things” (IoT) market, and more specifically, the segment of the market related to the development, manufacture, and sale of devices and accessories specifically built on Apple’s HomeKit® framework. These products work within the Apple® HomeKit ecosystem and are exclusive to the Apple market and its consumers,” according to the SPYR press release from October.
Management notes that SPYR continues to search for further target acquisitions that can expand its product line within the smart home and related tech industries. In the meantime, Applied MagiX provides a great operational foundation for SPYR to build upon.
June 2021: First Official Branded Product Launch, MagixDrive
In early June 2021, SPYR officially launched its first branded Apple CarPlay product called MagixDrive. MagixDrive is currently available for purchase through the Applied MagiX website (https://appliedmagix.com/shop/carplay/magixdrive-wireless-carplay/) or eBay (http://bit.ly/eBay-MagixDriveWirelessCarPlay).
The MagiXDrive product allows iPhone and Apple users to access CarPlay wirelessly and “enjoy a premium experience.” “Apple’s CarPlay system has established itself as the de facto standard for in-vehicle navigation, information and entertainment. Applied MagiX enters the CarPlay market as an extension of its product development in the smart home market,” according to SPYR in a release.
Instead of taking your iPhone out of your pocket and connecting it to your car’s audio system to utilize the existing wired CarPlay installation, the MagixDrive essentially works as an adapter between the phone and the car’s infotainment system. This eliminates the need to establish a wired connection between the iPhone and the car, allowing users to access Carplay wirelessly, without the need to remove your iPhone from your pocket.
According to Dr. Harald Zink, Chief Executive Officer of Applied MagiX, “Most of us nerds here at Applied MagiX have upgraded, enhanced, and tweaked our cars’ systems and our CarPlay installations. We believe in sharing, so we want to bring these improvements to our customers through our line of CarPlay products.”
Onvis: Applied MagiX’s Smart Home Security Products
SPYR’s Applied MagiX is more than its sleek entertainment products. The company has a line of advanced smart home security products, ranging from cameras to contact and environment sensors, called Onvis. Like MagixDrive, Onvis smart products are built on Apple’s Homekit framework.
Currently, there are four Onvis smart home security products available on the market from Applied MagiX. Here is a quick breakdown of the products and their uses:
- Onvis CT2: window & door contact sensor
- Onvis CS1: security system & smart sensor alarm
- Onvis SMS1: motion & environment sensor
- Onvis C3: indoor security camera
The Onvis product line takes advantage of one of the fastest-growing subsegments of the smart home industry: security. A recent North American survey by Mordor Intelligence shows that security-centric smart home products were voted as a “significant motivator for adopting smart home technology,” according to the market research firm.
Overall, the smart home industry is ripe to see expanded growth rates as the decade progresses. With North America being the leading region for smart home adoption and security products seeing the highest demand, SPYR, Inc. and its subsidiary, Applied MagiX, are very well-positioned to benefit from the industry’s forecasted growth.
The recent official launch of the MagixDrive wireless Apple Carplay device further diversifies SPYR’s exposure to entertainment and auto-focused smart technology consumers. SPYR and Applied MagiX have laid a solid foundation for their exposure to the smart home industry. Expanding product lines and distribution sources will be a key to building on this foundation.
Disclaimer:
Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement.
All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated a total of two thousand five hundred dollars cash by a third party by Grupo Rueda and principal Jacques Tizabi for the creation and dissemination of this content for a between June 10, 2021 and July 10, 2021. Spotlight Growth (Matt Rego) have been retained to provide investor relations services.
This material does not provide a recommendation to buy or sell any securities. Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management.
The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions.
Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: https://spotlightgrowth.com//disclosures/
