Focus Universal Inc. Announces an Update on Universal Smart IoT Platforms
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The announcement by Focus Universal Inc. regarding their advancements in universal smart IoT technology platforms represents a significant stride in a high-growth market. The Internet of Things (IoT) market, with a projected Compound Annual Growth Rate (CAGR) of 26.1% through 2030, underscores a robust expansion trajectory. Focus Universal's development of a universal smart device, the Ubiquitor, which can connect to a multitude of sensors, addresses a critical cost-efficiency challenge within the IoT industry. The cost implications of such technology are profound, as it suggests a potential reduction in the per-sensor cost when deployed at scale.
Moreover, the company's approach to eliminate redundant design in IoT infrastructure could streamline the engineering process, making it faster and more cost-effective to bring IoT solutions to market. This is particularly pertinent given the high failure rates of IoT projects highlighted by surveys from Cisco Systems and Microsoft. The ability to start from a '90% completed foundation' could be a game-changer for the industry, potentially lowering the barriers to entry and accelerating innovation.
Focus Universal's progress in testing their IoT platforms with a simulation of 100,000 devices and plans for a larger simulation of 100 million devices, are critical milestones that investors should monitor. These simulations are precursors to commercialization, which is expected to begin in 2025. The successful completion of these tests could serve as a confidence booster for stakeholders, as it demonstrates the scalability and reliability of Focus Universal's technology.
The company's intellectual property portfolio, including 28 patents and patents pending, along with 8 trademarks pending, is a valuable asset that could provide a competitive moat. This is particularly relevant in an industry where innovation and differentiation are key drivers of success. The market's reaction to these developments will hinge on the perceived value of these patents and the company's ability to effectively commercialize its technology and capture market share in the burgeoning IoT space.
The IoT industry is notorious for its complexity and the high rate of project failures during the proof-of-concept stage. Focus Universal's universal smart IoT technology appears to tackle these issues head-on by simplifying the design process and reducing costs. The Ubiquitor's showcase at CES 2024 and the interest it garnered from potential customers is a testament to the market's appetite for such solutions.
Understanding the technical aspects of this development is crucial. The 'universal smart approach' that allows engineers to build on a 90% completed hardware and software foundation could significantly reduce the time and resources required to develop new IoT devices. This could lead to a faster time-to-market for IoT solutions and potentially disrupt the traditional IoT development model, which has been characterized by high costs and inefficiency.
ONTARIO, CA and LOS ANGELES, CA / ACCESSWIRE / February 14, 2024 / Focus Universal Inc. (NASDAQ:FCUV) ("Focus" or the "Company"), a provider of patented hardware and software design technologies for Internet of Things (IoT) and 5G, today announced an update on its universal smart IoT developments. Over a period of over 15 years, the company has continued to develop five disruptive patented technology platforms with 28 patents and patents pending in various phases and 8 trademarks pending in various phases to solve the major problems facing hardware and software design and production within the industry today.
Currently, Focus Universal is in the process of testing these universal smart IoT platforms. Focus Universal is simulating 100,000 IoT devices running on Focus platforms, and the company expects to complete this large simulation at the end of March. Focus Universal also expects to complete an even larger simulation of 100 million IoT devices running on the platforms by the end of 2024. Focus Universal also expects to start commercializing this technology in 2025.
The initial, simplified version of universal smart IoT technology is our universal smart device (Ubiquitor), a single device is able to connect to any vast number of independent sensors, theoretically. When a moderate number of sensors are connected, the cost of the universal Ubiquitor, averaged over the number of sensors, becomes negligible. Ubiquitor's efficient and cost-effective approach to the cost of connected sensors is illustrated by the fact that development under Focus' platform system is a fraction of traditional device development cost. This one-of-a-kind Ubiquitor was first showcased at CES 2024 and attracted significant interest from potential customers, as also announced.
Universal smart approach to build IoT infrastructure eliminates the redundant design in both IoT hardware and software and allow engineers start to build IoT from
The Internet of Things (IoT) market size was valued at
About Focus Universal:
Focus Universal Inc. is a provider of patented hardware and software design technologies for Internet of Things (IoT) and 5G. The company has developed five disruptive patented technology platforms with 28 patents and patents pending in various phases and 8 trademarks pending in various phases to solve the major problems facing hardware and software design and production within the industry today. These technologies combined to have the potential to reduce costs, product development timelines and energy usage while increasing range, speed, efficiency, and security. Focus currently trades on the Nasdaq Global Markets.
Forward-Looking Statements:
Statements in this press release about future expectations, plans and prospects, as ll as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof and Focus Universal specifically disclaims any obligation to update any forward-looking statement, whether because of new information, future events or otherwise.
For investor and media inquiries, please contact:
Skyline Corporate Communications Group, LLC
Lisa Gray
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
lisa@skylineccg.com
For company inquiries, please contact:
Investor Relations
626-272-3883
ir@focusuniversal.com
SOURCE: Focus Universal Inc.
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