The IoT market is exploding. A recent report revealed the global Internet of Things (IoT) market spend will grow from $625.2 billion in 2015 to $1.29 trillion in 2020 — with a compound annual growth rate (CAGR) of 15.6%. This week, Dell Chairman and CEO made news when he announced that his company would be setting up a new research and development division that will invest $1 billion in intelligent technology.
One driver behind IoT growing so rapidly happens to be because the technology works fluidly with many corners of the business world. An area where its impact is already being felt is in the healthcare field, specifically helping to protect our growing aging population. GTX Corp. (GTXO) is an award-winning company in the space that develops cost-efficient and wearable IoT technology that is improving the quality of life and safety for senior citizens.
The company is best known for their GPS Smartsole® product, which is a smartphone-connected GPS tracker embedded in the insole of a shoe, think Dr. Scholl’s meets Lojack. As Bloomberg reported earlier this month, over 45 million Americans will be caring for 117 million seniors by 2020, and even major players like retail giant Best Buy (BBY) are making significant investments to sell products and services that enable adults to remotely monitor their aging parents. This is exactly the type of technology that GTX specializes in.
Furthermore, the Bloomberg report estimates that remote monitoring for senior care alone represents a $50 billion market.
GTX Corp (GTXO) is a pioneer in Smart, Mobile and Wearable GPS tracking and recovery location based solutions, supported through a proprietary IoT enterprise monitoring platform. GTX offers a complete end-to-end solution of hardware, software and connectivity. The Company develops 2 way GPS tracking technologies which seamlessly integrate with consumer products and enterprise applications. GTX Corp utilizes the latest in miniaturized, low power consumption GPS, Cellular and BLE technology and offers a proprietary platform that enables subscribers to track in real time the whereabouts of people or high valued assets through a complete end to end – customizable transceiver module, wireless connectivity gateway, smart phone Apps, middleware, and portal.
Headquartered in Los Angeles, California, with distributors in 14 countries and customers in over 35 countries, GTX is known for its award-winning patented GPS SmartSole® – Think Dr. Scholl’s meets LoJack, the world’s first invisible GPS wearable technology device created for those at risk of wandering due to Alzheimer’s, dementia, autism and traumatic brain injury. Currently there are 100 million people worldwide who are part of this at risk wandering group and that number is expected to reach 277 million by 2050. The Company doesn’t just make and sell the best GPS tracking products, they deliver innovative, miniaturized, low power consumption wearable tech that provides safety, security and peace of mind at the touch of a button. GTX puts the “Where” in Wearable Tech.
Social media – #withyou #smartsole #connectedandprotected
GTX Blog http://gpsinsole.com/
General information, investor relations, wholesale licensing, consumer purchase:
In the UK, GTX Corp operates from its London office. For more information, please contact: Nelson Skip Riddle contact details are:
Tel: +44 7785 364100