Rising Customer Demand for Security Providing Lucrative Opportunities For Home Automation Market

News provided by

Aug 25, 2022, 09:20 ET

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., Aug. 25, 2022 /PRNewswire/ -- The home automation market is one of those companies that thrived even during the recent pandemic. Consumer demand has driven and will continue to drive the market for years to come. Home automation is utilization of intelligent terminals to control home appliances and equipment. It includes but is not limited to centralized control of lighting, security checks/locks for home access, HVAC control, and others. Home automation is also known as smart home automation, which is an automation system, which offers access to control appliances and devices such as lights, fan, alarm system, heating & cooling systems, and electrical outlets with a smartphone. An automated home provides numerous benefits to end-users, such as reduced energy spending, security from theft, and protection from unauthorized access to the home. The solutions are gaining popularity in the residential and hospitality sectors, to protect their personal and commercial assets such as buildings, hardware infrastructures, personal belongings, and others. A report projected that the home automation market size was valued at $46,607.1 million in 2020, and is expected to reach $239,897.8 million by 2030, registering a CAGR of 17.6% from 2021 to 2030. The report said: "The home automation market is driven by the increase in demand for energy-efficient solutions, substantial growth in the IoT market, convenience & ease of usage, technological advancements, increase in number of smartphone users, and surge in security concerns. The market experiences limitations due to excessive cost of automated homes and lack of awareness in some developing & under-developed regions. Increase in adoption of automated services and government incentives for green initiatives is opportunistic for the home automation market growth. Moreover, the need for energy-efficient solutions and rise in demand for safety & security for homes are the major factors that are expected to boost the demand for home automation market." Active companies in the markets this week include: SKYX Platforms Corp. (NASDAQ: SKYX), Uber Technologies, Inc. (NYSE: UBER), Apple Inc. (NASDAQ: AAPL), Tesla, Inc. (NASDAQ: TSLA), Snowflake (NYSE: SNOW).

The report continued: "The home automation market was hampered during the outbreak of COVID-19 pandemic owing to regulation on logistic services. However, the demand for smart homes operated with home automation is growing significantly with increase in awareness and adoption of concept of smart homes and home automation. Furthermore, during the outbreak of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. Construction and transportation activities, along with their supply chains, were hampered on a global level. This led to decline in manufacturing of home automation as well as their demand in the market, thereby restraining the growth of the home automation market. Conversely, industries are gradually resuming their regular manufacturing and services. This is expected to lead to re-initiation of home automation companies at their full-scale capacities, which… help(ed) the home automation market to recover by mid of 2022."

SKYX Platforms Corp. (NASDAQ: SKYX) BREAKING NEWS: SKYX Platforms to Introduce its Upcoming Gen-1 Game-Changing Platform Technology Video Demo - The Gen-1 specifications received a historical approval vote by ANSI / NEMA for a plug & play ceiling outlet/receptacle for safe installation of lighting and ceiling fans.- SKYX Platforms Corp. (d/b/a "Sky Technologies") ("SKYX," "we" or "the Company"), a highly disruptive platform technology company with over 60 issued and pending patents globally for simplifying and enhancing safety and automation in homes and buildings, today announced the introduction of a demo video of its Gen-1 game-changing ceiling platform technology, the specifications of which just received a historical approval vote by ANSI / NEMA, the leading U.S. standardization organizations for homes, buildings and the electrical industry.

Hundreds of millions of lengthy installations of light fixtures take place, all while people risk their lives by touching hazardous electrical wires while standing on ladders. These risks result in millions of hazardous incidents including shorts, fires, falls from ladders, electrocutions, injuries and death. These hazardous incidents can be greatly reduced or even eliminated by using the SKYX plug and play ceiling outlet receptacle. The SKYX technology simplifies the installation process while significantly reducing both time and cost, as well as substantially reducing hazardous incidents, injuries, and death.

The specifications of the new SKYX safe weight-supporting plug & play ceiling outlet/receptacle were approved by the U.S. leading home and building standardization organizations, the American National Standards Institute ("ANSI") and the National Electrical Manufacturers Association ("NEMA"). Below is the video demo link of SKYX's Gen-1 product including the ANSI / NEMA approved safe plug & play ceiling outlet/receptacle.

Video Link: SkyXPlug.com/video

Steve Schmidt, former CEO of Nielsen Corporation and former President of Office Depot International and current President of SKYX Platforms, said: "We are extremely proud to introduce our Gen-1 smart and safe technology platform towards our upcoming product launch. We strongly believe that the simplicity of our technology, as well as its safety aspects, will revolutionize the lighting and ceiling fan industries by enabling people to install fixtures safer, faster, and more often." CONTINUED… Read this full release and more news for SKYX Platforms at: https://ir.skyplug.com/news-events/press-releases/

Other recent developments in the markets include:

Uber Technologies, Inc. (NYSE: UBER) recently announced financial results for the quarter ended June 30, 2022. Financial Highlights for Second Quarter 2022 Were: Gross Bookings grew 33% year-over-year ("YoY") to $29.1 billion, or 36% on a constant currency basis, with Mobility Gross Bookings of $13.4 billion (+55% YoY or +57% YoY constant currency) and Delivery Gross Bookings of $13.9 billion (+7% YoY or +12% YoY constant currency). Trips during the quarter grew 24% YoY to 1.87 billion, or approximately 21 million trips per day on average; Revenue grew 105% YoY to $8.1 billion, or 111% on a constant currency basis, with Revenue growth significantly outpacing Gross Bookings growth due to a change in the business model for our UK Mobility business and the acquisition of Transplace by Uber Freight; Net loss attributable to Uber Technologies, Inc. was $2.6 billion, which includes a $1.7 billion net headwind (pre-tax) relating to Uber's equity investments, primarily due to aggregate unrealized losses related to the revaluation of Uber's Aurora, Grab, and Zomato stakes. Additionally, net loss includes $470 million in stock-based compensation expense; Adjusted EBITDA of $364 million, up $873 million YoY. Adjusted EBITDA margin as a percentage of Gross Bookings was 1.3%, up from (2.3)% in Q2 2021; Net cash provided by operating activities was $439 million, up $780 million YoY. Free cash flow, defined as net cash flows from operating activities less capital expenditures, was $382 million, up $780 million YoY; and Unrestricted cash and cash equivalents were $4.4 billion at the end of the second quarter.

Apple Inc. (NASDAQ: AAPL) recently announced financial results for its fiscal 2022 third quarter ended June 25, 2022. The Company posted a June quarter revenue record of $83.0 billion, up 2 percent year over year, and quarterly earnings per diluted share of $1.20.

"This quarter's record results speak to Apple's constant efforts to innovate, to advance new possibilities, and to enrich the lives of our customers," said Tim Cook, Apple's CEO. "As always, we are leading with our values, and expressing them in everything we build, from new features that are designed to protect user privacy and security, to tools that will enhance accessibility, part of our longstanding commitment to create products for everyone."

Tesla, Inc. (NASDAQ: TSLA) recently announced that the Board of Directors has approved and declared a three-for-one split of Tesla's common stock in the form of a stock dividend to make stock ownership more accessible to employees and investors. Each stockholder of record on August 17, 2022 will receive a dividend of two additional shares of common stock for each then-held share, to be distributed after close of trading on August 24, 2022. Trading will begin on a stock split-adjusted basis on August 25, 2022.

Snowflake (NYSE: SNOW), the Data Cloud company, recently concluded its fourth-annual Snowflake Summit conference, with nearly 9,000 in-person attendees and over 11,500 registered to watch the virtual event, live in Las Vegas, Nevada on June 13-16. Snowflake Summit 2022 is Snowflake's largest in-person conference to-date, bringing customers, partners, technical experts, and executives together to explore the power of the Data Cloud. The four-day conference featured four marquee keynote addresses, 275+ total sessions spanning 10 different session tracks, 200+ ecosystem partners, 100+ customer speakers, 28 hands-on labs, an abundance of SnowPro™ certifications achieved by conference goers, and more.

Snowflake Chairman and CEO, Frank Slootman, and Snowflake Co-Founder and President of Products, Benoit Dageville, kicked off the event with seven key innovation pillars that position Snowflake at the forefront of technology and data innovation. A key theme throughout was that Snowflake first massively transformed analytics, then collaboration, and now application development with the Data Cloud. Snowflake SVP of Products, Christian Kleinerman, then revealed during his keynote address expanded capabilities and product innovations that advance the Data Cloud.

DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated twenty five hundred dollars for news coverage of the current press releases issued by SKYX Platforms Corp. by the Company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Contact Information:
Media Contact email:
[email protected]
+1(561)325-8757

SOURCE FinancialNewsMedia.com