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 90% completed foundation instead of the starting from scratch, this approach not only allows different IoT devices share the 90% common hardware and software to significantly lor the cost, but also significantly simplify the IoT design.
The Internet of Things (IoT) market size was valued at $544 Billion in 2022 and is projected to $3.3 Trillion by 2030, exhibiting a CAGR of 26.1%. A Cisco Systems company survey had revealed that three-quarters of IoT projects are failing, and a similar Microsoft company survey reported 30% of IoT projects failed in the proof-of-concept stage. Focus Universal developed the universal smart IoT technology aimed to overcome these challenges.
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.
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SOURCE: Focus Universal Inc.