- The ‘Internet of Things’ market is expected to reach a value of between $5.5 trillion and $12.6 trillion by 2030, from $745 billion in 2019, driven by contributions from both businesses and consumers
- SPYR Inc., through its subsidiary Applied Magix Inc., is considering aligning its interests to tap into this anticipated rapid growth
- The company is considering developing software for non-branded smart products, adding smart LED lighting products to its portfolio of HomeKit-enabled smart products, and acquiring new product lines or intellectual property
Research released late last year by multinational consulting firm McKinsey posits that the Internet of Things (“IoT”) space will grow through 2030, unlocking a potential economic value of between $5.5 trillion and $12.6 trillion, up from recorded spending of $745 billion in 2019 (https://ibn.fm/Kh1EA). Central to this economic-value potential is the contribution of the customers of IoT products, who are expected to be drawn from both the business-to-business (“B2B”) and business-to-consumer (“B2C”) segments (https://ibn.fm/Z3dyV).
“B2B applications are where the majority of IoT value can be created, with around 65% of the estimated IoT value potential by 2030. But the value of B2C applications is growing quickly, spurred by…
NOTE TO INVESTORS: The latest news and updates relating to SPYR are available in the company’s newsroom at https://ibn.fm/SPYR
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