Mar 31st, 2022
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.