BUSINESS WIRE
New Smart IoT Tag Targets $4.2 Billion Global Retail Asset Tracking Market
Energous to Develop Battery-Free Smart Tag for Global RFID Leader
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Energous Corporation d/b/a Energous Wireless Power Solutions (NASDAQ: WATT), a pioneer in scalable, over-the-air wireless power networks (WPNs), today announced it has been engaged by a global leader in RFID-based source-to-shopper solutions to develop a battery-free smart tag. The new tag will enhance visibility and asset tracking for retail-focused Internet of Things (IoT) applications. The global RFID market in 2023 was estimated at $14 billion, with the retail segment representing the largest portion of this total market at 30 percent, or approximately $4.2 billion.
This new collaboration is a key milestone in the retail industry's growing adoption of IoT applications for asset and inventory tracking and management. The new smart tag will leverage Energous' innovative WPN technology to energize ultra-low-power sensors and peripherals while enabling the devices to efficiently communicate real-time data and insights to the cloud—without the need for batteries or direct grid connections.
“This partnership is an exciting development for Energous, aligning with our focus on leveraging our robust intellectual property portfolio to create innovative end-to-end WPN solutions that connect businesses with their critical data. This enables them to drive more operational efficiencies while reducing battery usage, paving the way for a smarter, more sustainable future,” said Mallorie Burak, CEO and CFO, Energous Wireless Power Solutions. “This new battery-free smart tag will revolutionize asset tracking and management, offering unparalleled visibility and control over inventory for our partner’s portfolio of well-known brands and retail customers.”
About Energous Wireless Power Solutions
Energous Corporation d/b/a Energous Wireless Power Solutions (NASDAQ: WATT) is pioneering scalable, over-the-air (OTA) wireless power networks that enable unprecedented levels of visibility, control, and intelligent business automation. The Company’s wireless power transmitter and receiver technologies deliver continuous access to wireless power, helping drive a new generation of battery-free devices for asset and inventory tracking and management—from retail sensors, electronic shelf labels, and asset trackers, to air quality monitors, motion detectors, and more. For more information, visit http://www.energous.com/ or follow on LinkedIn.
Forward-Looking Statements
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