This morning Trakopolis and Honeywell announced a renewal of their exclusive agreement, whereby the two companies will expand their joint sales and marketing efforts globally. Initial market research indicated a total addressable market in North America of approximately 150,000 units, the expansion to a global market clearly expands the total opportunity. The overall hardware and recurring revenue potential of this one product, the ConneXt Loneworker, is hundreds of millions of dollars.
Bottom line, Honeywell Analytics is the largest manufacturer and distributor of gas detectors in the world. Trakopolis’ IoT platform has enabled them to offer the market a new and unique, next generation product.
Also of note, the news release outlines a collaboration on utilizing the Trakopolis IoT Platform with other Honeywell connected safety products. Management is pleased with the potential for furthering the revenue opportunities in the future.
To view today’s news release, please click here.