- Technology company SPYR recently completed the acquisition of mobile IoT technology company GeoTraq, Inc.
- GeoTraq develops state-of-the-art mobile IoT modules, specifically designed to fit the unique and unmet needs of the low-end IoT market
- Major players have focused on developing and selling complex and expensive high-end IoT systems, with little attention paid to the larger low-end market
- GeoTraq is targeting this underserved segment through uniquely-engineered products that are battery-compatible and easy to deploy
This year, the global location-based services (“LBS”) market is expected to reach a value of $70.16 billion, representing a CAGR of 25.5% from $55.92 billion last year. Projections further show that the market will expand by an additional 15.5% CAGR, reaching $114.9 billion by 2026 (https://ibn.fm/PV9tI). The Report Linker analysis, however, mainly highlights major players, including but not limited to Apple Inc. (NASDAQ: AAPL), Cisco Systems, Inc. (NASDAQ: CSCO), Intel Corporation (NASDAQ: INTC), Microsoft Corporation (NASDAQ: MSFT), saying little of the role smaller players will play.
But GeoTraq, Inc., a mobile Internet of Things (“IoT”) technology company, and now a second subsidiary of SPYR (OTCQB: SPYR), is looking to change this narrative, having identified a large and untapped opportunity. Guided by the vision to create a simple, smart, and connected world, GeoTraq designs and…
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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