DRAPER, Utah, May 3, 2017 /PRNewswire/ -- Flexpoint Sensor Systems, Inc. (FLXT) today announces a purchase order from its new strategic reseller relationship with Jupiter FL-based Karlsson Robotics. Established in 2011, Karlsson Robotics serves an expanding global customer base comprised of professional organizations, governmental entities and their sub-suppliers, as well as hobbyists and entrepreneurs alike. Karlsson provides advanced, integrated robotics solutions including technology components, consulting, design and development services.
Market analysts have set lofty expectations for the robotics industry. In early 2016, Fortune Magazine released an article referencing a report by International Data Corporation which stated worldwide spending on robotics and related services will hit $135.4 billion in 2019; global robotics spending in 2015 was $71 billion, and is set to grow at a compound annual growth rate of 17%. In another recent article, Zion Market Research stated the global service robotics market was valued at around $9.01 billion in 2016 and is expected to reach approximately $24.10 billion in 2022, growing at a CAGR of slightly above 17.8% between 2017 and 2022.
The Flexpoint Bend Sensor® technology expands the Karlsson solution portfolio to meet a growing demand for advanced robotics solutions and flexible sensor technologies. Karlsson has chosen a variety of Flexpoint sensors to add to their electronics/sensor solution portfolio and, in close collaboration with Flexpoint, Karlsson will offer custom sensor solutions as part of their design and development engagements.
Commenting on the marketspace and relationship, Karlsson Robotics CEO Gustav Karlsson states, "Karlsson strives to be the premier supplier of integrated technology solutions to the global robotics community – Professionals and DIY'ers. We feel the Flexpoint technology and their engineering support, when called upon, adds nicely to our solution portfolio and positions us to deliver "best-in- class", scalable solutions to our rapidly expanding customer base. It has only just begun, but we are already experiencing the positive effects of this relationship with Flexpoint."
In the robotics market segment in general, and especially where convergence is occurring with Virtual Reality and Augmented Reality technologies, a large number of opportunities have emerged for Flexpoint and their partners.
According to Paul Sexauer, Flexpoint VP Sales & Marketing, "The Flexpoint-Karlsson Robotics relationship is strategic and key to our continued success in this market segment where our technology is differentiated. The Karlsson team is comprised of highly skilled specialists with an existing client-base, rising to meet a rapidly growing customer demand."
True to stated goals, Flexpoint has expanded their channel and reseller base dramatically in 2017. Sexauer further commented, "Revenue contribution from our channel partners has been immediate and significant, and will continue to grow quarter over quarter contributing positively to increasing marketshare, cash flows and profitability."
Please visit http://www.flexpoint.com/ for more information.
About Flexpoint Sensor Systems, Inc.
Flexpoint Sensor Systems, Inc. (FLXT) is an innovative technology firm specializing in developing products that feature the Company's patented Bend Sensor® and related technology. The Bend Sensor® is a groundbreaking sensing solution that is revolutionizing applications in the automotive, safety, medical and industrial industries. The Bend Sensor's single-layer, thin film construction cuts costs and mechanical bulk while introducing a range of functions and stylistic design possibilities that have never before been available in sensing technology. Flexpoint's technology and expertise have been recognized by the world's elite business and academic innovators for over 17 years. The company is setting a new standard for sensing solutions in the "smart" age of technology.
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
Flexpoint Sensor Systems
Clark Mower, President
Brokers and Analysts
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SOURCE Flexpoint Sensor Systems, Inc.