The need for home automation is increasing by leaps and bounds on low energy consumption, which eventually leads to lesser household expenses and reduced carbon footprint.
The smart home sector is expected to see significant growth in the future and this emerging company on the NASDAQ could be positioned to become a primary player.
"We truly believe that our patented smart-safe platform technologies will revolutionize the smart home and lighting industries, by saving lives, time, cost and simplifying the process. Our platform technology will significantly enhance all around home safety as well as smart home capabilities, while fulfilling our mission to make homes and buildings become smart and safe as the new standard."
- Rani Kohen, Executive Chairman of SKYX Platforms
Historic U.S. Standardization Approval Vote
SKYX recently achieved historic U.S. standardization approval vote by ANSI / NEMA, the American National Standards Institute (ANSI) and the National Electrical Manufacturers Association (NEMA), for its safe plug & play ceiling outlet/receptacle.
SKYX is a maker of smart devices, ceiling fixtures and various types of smart home appliances.
Its first-generation technology offerings include wall and ceiling receptacles which make it possible to install light fixtures, ceiling fans and other electrically wired items into the electrical outlet box in the ceiling with minimal exposure to wires, making the installation process safe and efficient.
With more than 15 authorized patents and 60 patent applications, SKYX has pioneered a number of cutting-edge smart platform technologies for residential use.
The company's products have the dual goals of improving the security and usability of smart home gadgets while also bringing benefits in terms of time and money savings and ease of use.
Products are expected to be launched in the second half of 2022.
Key revenue streams apart from product sales are expected to be in the form of licensing its intellectual property and selling country-specific rights in non-U.S. markets.
SKYX has licensing and branding agreements in place with General Electric (NYSE:GE) allowing for use of the GE logo and branding on its products, which should enhance consumer appeal and confidence in the the quality of the product.
Check out the company’s product platform here: https://skyplug.com/products/
What makes smart home technology important? Conservation of resources, wellness, usability, entertainment and security has made smart home products important and attractive. For instance, it ensures owners save electricity and reduce power and water bills, creating an optimal or comfortable ecosystem indoors while keeping outside environmental conditions in consideration.
President Joe Biden has set a target to achieve net-zero emissions by no later than 2050 and plans to upgrade 4 million buildings and weatherize 2 million homes over the next four years.
The U.S. House just passed a landmark healthcare and climate bill. In fact, it is America’s first ever climate legislation to pass.
According to a Fortune Business Insights report, the global smart home market size stood at $79.9 billion in 2018 and is expected to reach $622.59 billion in 2026, at an astonishing CAGR of 29.3%.
SKYX’s technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings.
The company believes that their products are a necessity in EVERY room in both homes and other buildings in the U.S. and globally.
It wasn’t that long ago that the company successfully completed its upsized $23.1 million initial public offering (IPO) on the Nasdaq Capital Market.
SKYX has placed initial production orders for hundreds of thousands of Sky safe smart home products - positioning the Company for its initial commercialization planned for the second half of 2022.
"As we completed our IPO in mid-February, we have sufficient cash and are eager to start our pre-sales and PR campaign in the second half of this year, with validation by various industry leaders who clearly see the potential that our safe smart SkyPlug brings to countless industries."
John Campi, CEO of Sky Technologies
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