Vancouver, British Columbia–(Newsfile Corp. – September 14, 2021) – TraceSafe Inc., (CSE: TSF) (“TraceSafe”) a global leader in location-aware Internet of Things (IoT) platforms for large-scale industrial and enterprise operations, announced today that the company has now achieved an impressive milestone: the sale of over one million IoT devices.
TraceSafe’s story illustrates how COVID-19 and contact tracing shaped the IoT market, making technology more accessible to enterprises worldwide. According to ReportLinker, the global enterprise wearables market is expected to grow at a CAGR of over 41% during 2019-2025. Wearables can play a major role in accelerating companies’ and industries’ digital transformations by streamlining processes and achieving faster results.
Millionth Device Sold!
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TraceSafe has made a solid transition to the enterprise platform-as-a-service (PaaS) business model, offering clients full control over the design and functionality of its hardware and software. Thanks to this offering, TraceSafe has been able to increase its average selling price per device kit and build a continuous revenue stream by collecting monthly software fees.
“Forward-thinking companies see wearable technology as an opportunity to leverage the vast amount of data at their fingertips that would otherwise go to waste,” said TraceSafe CEO Wayne Lloyd. “Companies can use that data to shape their industries and create new opportunities and services for their customers.”
Over the past year, TraceSafe, together with its customers, has designed new rechargeable and re-usable devices, removing the need to manufacture a new device per user and hence reducing electronic waste and helping the company meet its commitments to sustainability.
TraceSafe’s platform currently processes over 15 million contacts per day, and counting. Sales numbers of this magnitude highlight the scalability of TraceSafe IoT solutions and the company’s ability to accommodate the needs of even the largest global enterprises.
TraceSafe is a full suite of real-time location management services and contact tracing solutions enabled through advanced low-power Bluetooth beacons and enterprise cloud management. TraceSafe’s leading cloud management solution ensures both user privacy and comprehensive administrative control. TraceSafe’s patented contact tracing bracelet has already been deployed in mission-critical quarantine applications around the world in partnership with leading governments. In addition to their government work, TraceSafe is developing leading-edge solutions for Enterprise, Healthcare, Education, Government, and large-scale venue management.
For further information, please contact:
Wayne Lloyd, CEO
+1 (604) 629-9975
Emily Graham, CFO
+1 (604) 356-8111
The Canadian Securities Exchange has in no way approved or disapproved the contents of this news release.
Statements in this news release may contain forward-looking statements that are based on TraceSafe’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the TraceSafe assets and their application, future business plans and relationships, future developments in respect of COVID-19 and solutions adopted in response to the virus, and the deployment and acceptance of the TraceSafe technology. Although TraceSafe believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments reopen, competition, the spread or containment of COVID-19 and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and TraceSafe undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.
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