SPYR (OTCQB:SPYR) has announced the continued development of its revolutionary Micro-Tracker Modem via its GeoTraq subsidiary as it prepares for full-scale commercialization in 2023.
The company noted that a Kaleido Intelligence study released in June of 2022 stated that hardware design ranked as the leading challenge by 84% of non-cellular Internet of Things (IoT) adopters respondents.
This backed up an earlier International Data Corporation (IDC) survey that listed complexity as the second most common challenge slowing IoT deployments. GeoTraq said it is working diligently to change that perception of the IoT industry with its patent-protected technology.
“The beauty of our solution is that the end user is shielded from most of the complexity of IoT technologies,” GeoTraq chief technology officer Pierre Parent said in a statement. “While we incorporate many state-of-the-art capabilities in our products, our goal is to manage the intricacies so our customers don’t have to. We are driven by this concept.”
READ: SPYR highlights undivided focus on GeoTraq following an eventful 2022
SPYR said GeoTraq aims to simplify the selection process needed to field an IoT solution by collapsing many of the technology layers into a simple, easy-to-use modem device that comes pre-integrated with wireless connectivity and useful applications. The company said this gives business owners the opportunity to have early productivity gains and grow into more complex solutions as they are needed.
“There’s no longer a need to commit to a big, complex capital project and hope it provides tangible results in the end,” Parent concluded. “Start off with an approach that is easy and grows along with your business needs. It almost pays for itself and is the most efficient way to go.”
SPYR is a diversified technology company developing products leveraging the Internet of Things (IoT) for consumer use and large-scale applications and industries.
Through GeoTraq, SPYR develops and manufactures fully self-contained, ultra-small mobile IoT modules, including Tracker-M modules for asset tracking and location-based services, and Sensor-M modules used for remote monitoring.
Contact the author at stephen.gunnion@proactiveinvestors.com