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.
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/.
The preceding article is from one of our external contributors.
It does not represent the opinion of Benzinga and has not been edited.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.