Smart home technology is a high-growth market that is still in the early innings of its future potential. New technological advances, such as the Internet of Things (IoT) and artificial intelligence, have given way to many new devices and capabilities.
According to Technavio, the U.S. smart home market is estimated to experience a compound annual growth rate (CAGR) of 18% between 2021 and 2025. In other words, Technavio believes the U.S. smart home market could grow by $15.23 billion from now until 2025. The market research firm sees growing interest in home automation and energy conservation technologies and the latest security IoT capabilities as key drivers of growth over the coming years.
Source: Technavio 1
Apple, Google, Amazon Alliance To Integrate MATTER Protocol
The opportunity in smart home technologies has even brought together three major technology rivals: Apple, Inc. (NASDAQ: AAPL), Amazon.com, Inc. (NASDAQ: AMZN), and Google-parent Alphabet (NASDAQ: GOOG).
Since 2019, the three technology giants have been openly collaborating on developing a “connected home over IP” technology that could help smart home devices interact and work together more effectively.
In 2021, the MATTER protocol was developed to be the smart home industry’s “unifying standard.” By May 2021, Apple, Google, and Amazon announced plans to certify smart home products later this year using the MATTER network.
Source: Qorvo 1
In a sense, the new MATTER-based smart home devices will allow users to seamlessly integrate different technologies and devices, such as Amazon Alexa, the RING doorbell, Google Home, Apple Home, and more.
“As these different devices become more complex networks, it’s all the more important that they’re all talking the same language,” noted Tobin Richardson, CEO of the Connectivity Standards Alliance. “That mark will be a helping hand to make sure that you can add whatever lightbulbs, whatever door locks, whatever you want to add,” Richardson commented in an interview ahead of a Matter press event.
SPYR Unveils Initiative To Build MATTER-Connected Smart Home Devices
SPYR, Inc. (OTC Pink: SPYR) has had a very monumental June 2021. At the beginning of the month, SPYR and its wholly-owned subsidiary, Applied MagiX, launched its first branded smart home device and Apple CarPlay product called MagixDrive.
The MagixDrive product allows drivers to access Apple CarPlay wirelessly. MagixDrive was launched on June 7, 2021, and is now available at the Applied MagiX website (https://appliedmagix.com/shop/).
On June 28, 2021, SPYR announced plans to expand its smart home device development to include MATTER protocol technology. This is an important step for SPYR because it shows the company is staying ahead of the curve and adopting new technologies in the smart home device industry.
With a growing product line consisting of both entertainment and security-focused smart devices, SPYR continues to gain exposure to some of the fastest-growing sub-segments of the already high-growth industry.
Overall, the smart home device industry was in desperate need of a standardized language and development platform. While we have seen early success with smart speakers and voice assistants, the smart home device industry is much more. Energy conservation, home automation, and upgraded security features are consistently rated as among the top reasons consumers adopt smart home technologies.
Standardizing the underlying technology will allow the smart home industry to begin its next phase of growth. SPYR is in the excellent company focusing on developing MATTER-driven devices. The latest announcement is just the next step in SPYR’s road to building a smart home tech powerhouse.
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