Market for Internet of Things Projected to Grow

The Internet of Things market is expected to grow from USD 170.57 Billion in 2017 to USD 561.04 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 26.9%, according to a report by Research and Markets.

The strong advances of the market are explained by innovations in analytics and data processing techniques, which have been useful to derive results from high volumes of data collected from the machine-to-machine communication devices. The report indicates that data analytics and processing is useful in the IoT environment to increase the uptime of the smart sensors and devices, accelerate the business outputs, and detect and control the errors. GTX Corp. (OTC: GTXO), WidePoint Corporation (NYSE: WYY), Vicon Industries, Inc. (NYSE: VII), Netlist, Inc. (NASDAQ: NLST), Inpixon (NASDAQ: INPX)

IoT is an ecosystem of connected physical objects that are accessible through the internet. According to Forbes, Bret Greenstein, VP of IBM’s Watson IoT Consumer Business explained, “In the early days you could do IoT in your home in a lot of different ways and there were a lot of wires and a lot of hard-code – mobile apps came later, but it was still an isolated experience that doesn’t really feel connected. AI is helping to bridge that gap – now we are seeing automakers and hotels and other companies trying to create more integrated experiences and using AI to better understand and interact with people.”

GTX Corp. (OTC: GTXO) an Internet of Things (IoT) solutions provider in the personal location, wearable and wandering assistive technology business, recently announced, “that it will be presenting several of its new products at Super Bowl. CES 2018 was filled with different areas of Internet of Medical Things (IoMT) technology that is striving to increase the health, wellness, safety, and overall lifestyle for the “Baby Boomer.”

This is good news for GTX Corp, as tens of millions of Baby Boomers (people born between the 1950s and mid-1960s) are beginning to hit their elderly years, providing an increased demand for technologies and overall health and wellness solutions. GTX has been at the forefront of this trending and growing sector and this year GTX showcased multiple products, including their flagship GPS SmartSoles along with the new Biometric Insoles and several other products like the Invisabelt and kids SmartSoles, expected to launch this quarter.

Alongside partner Veristride, GTX unveiled the new Biometric Insoles designed to monitor how people walk and help predict if a senior is prone to falling, which is a major worldwide problem. An estimated 2.8 million elderly people in the U.S. are treated in emergency departments for fall injuries each year. The Biometric Insoles collect movement and activity from special sensors and produce data for gait analysis to provide better insight into fall risk detection and prevention. GTX also garnered some buzz in the technology industry during CES week, as their GPS Tracking insoles were on the television show, Keeping Up with the Kardashians. GTX had many vendors, consumers, and fans of the Kardashians from around the world come by and comment, as the show had aired in the United States before CES and aired after CES in the United Kingdom.

Patrick Bertagna GTX Corp CEO, commented, “This was a significant week for GTX Corp and the first time we showcased a suite of existing and future products that expanded our offerings way beyond GPS tracking solutions for seniors afflicted with dementia and Alzheimer’s. We now have tracking and monitoring solutions for kids, the military, law enforcement, mobile workforce, athletes and with our Biometric insoles we will expand our senior target audience from the 6 million currently diagnosed with Alzheimer’s to the 72 million baby boomers in the US that need or want their mobility, activity and gait monitored.”

Due to the very positive feedback from the Biometric Insoles and their ability to also be used in a professional sports environment in order to establish walking baselines for pro athletes, GTX will be taking its products and technologies to Super Bowl LII in Minneapolis, Minnesota. GTX and long-time advisor Jack Brewer, discussed several opportunities for GTX and Veristride to showcase its Biometric Insole Technology throughout the various events during Super Bowl Week.”