Builds Upon Purchase Order Momentum for Inpixon RTLS Solutions
PALO ALTO, Calif., Dec. 20, 2022 /PRNewswire/ -- Inpixon® (Nasdaq: INPX), the Indoor Intelligence® company, today announced that it has received an order for its real-time location system (RTLS) products from a global provider of transportation and industrial products and services. The purchase order is valued at over one million dollars and covers an approximately 18-month period. The RTLS products will be used in products that provide proximity awareness and collision avoidance for worker safety in industrial operations.
Nadir Ali, CEO of Inpixon, stated, "We are pleased to have secured this significant purchase order which builds upon our momentum of additional purchase orders recently announced. Our technology offers a unique performance profile combining high accuracy, long operational range and interference resilience that makes it an excellent choice for a wide range of location and ranging use cases for this large market.
"We are taking advantage of the vast opportunities within this fast-growing market and believe the breadth of our software and hardware products that make up our RTLS solutions sets us apart from others in the market. Inpixon's location-aware, multi-technology industrial IoT platform is helping organizations deliver on the promise of smart factories, smart warehouses, safer mining operations, paperless factories, and digital supply chains. We believe we are well positioned to take advantage of the digital transformation trend in industrial environments, commonly referred to as Industry 4.0."
Research firm MarketsandMarkets reports that the global industry 4.0 market size is projected to reach USD165.5 billion by 2026, growing at a CAGR of 20.6%.
Inpixon® (Nasdaq: INPX) is the innovator of Indoor Intelligence®, delivering actionable insights for people, places and things. Combining the power of mapping, positioning and analytics, Inpixon helps to create smarter, safer, and more secure environments. The company's Indoor Intelligence and mobile app solutions are leveraged by a multitude of industries to optimize operations, increase productivity, and enhance safety. Inpixon customers can take advantage of industry leading location awareness, RTLS, workplace and hybrid event solutions, analytics, sensor fusion, IIoT and the IoT to create exceptional experiences and to do good with indoor data. For the latest insights, follow Inpixon on LinkedIn, and Twitter, and visit inpixon.com.
All statements in this release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the control of Inpixon and its subsidiaries, which could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not limited to, the fluctuation of economic conditions, the impact of COVID-19, global conflicts, inflation and other global events on Inpixon's results of operations and global supply chain constraints, Inpixon's ability to integrate the products and business from acquisitions into its existing business, the performance of management and employees, the regulatory landscape as it relates to privacy regulations and their applicability to Inpixon's technology, Inpixon's ability to maintain compliance with Nasdaq's continued listing requirements, the ability to obtain financing if needed, competition, general economic conditions and other factors that are detailed in Inpixon's periodic and current reports available for review at sec.gov. Furthermore, Inpixon operates in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. Inpixon disclaims any intention to, and undertakes no obligation to, update or revise forward-looking statements.
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