Lantronix Inc. Wins 2024 IoT Evolution Business Impact Award From IoT Evolution Magazine

Rhea-AI Summary

Lantronix (NASDAQ: LTRX) has won the 2024 IoT Business Impact Award from IoT Evolution magazine for its outstanding IoT solutions. The recognition highlights Lantronix's E210 Router and its successful global deployment for HY-LINE Group's Smart Shelf project, an easy-to-deploy digital retail shelf signage solution. This solution delivers customer engagement and purchasing behavior analytics, utilizing Lantronix's E210 Series Router with IoT SIM Connectivity Services and Percepxion™ Cloud IoT Edge Solutions platform for secure and centralized management.

According to Berg Insight, the retail industry is projected to grow with a CAGR of 10% over the next three years, reaching 19 million IoT devices by 2027. Lantronix aims to support this growth through its innovative plug-and-play connectivity services. The award affirms Lantronix's strategy of providing end-to-end IoT solutions that ensure security, integration, and ease of use, driving customer success in the IoT-driven market.

Award based on Lantronix E210 Router and its HY-LINE Digital Signage Case Study showcasing IoT solutions for global deployment

IRVINE, Calif., July 10, 2024 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global leader in compute and connectivity IoT solutions, today announced that it has won a 2024 IoT Business Impact Award from IoT Evolution magazine, the leading publication covering IoT technologies. This award honors organizations for case studies that demonstrate successful deployment of their IoT solutions.

Lantronix was recognized for its IoT case study highlighting its successful IoT solutions global deployment for HY-LINE Group’s Smart Shelf. This easy-to-deploy digital retail shelf signage solution delivers customer engagement and buying behavior analytics. Utilizing Lantronix’s E210 Series Router (E214) with IoT SIM Connectivity Services and Percepxion™ Cloud IoT Edge Solutions platform, this global deployment is securely and centrally managed.

According to Berg Insight, the retail industry is one of the top vertical markets for IoT devices. Global shipments of IoT devices in the retail sector are projected to grow at a CAGR of 10 percent over the next three years, reaching 19 million units in 2027. Lantronix's innovative gateways and software are designed to target this market, supporting these growth trends through plug-and-play connectivity services and the Percepxion IoT Edge Solutions Platform.

“We are honored to be recognized for our contributions to the IoT industry by providing end-to-end IoT solutions that give our customers the security, proven integration and ease of use to drive success,” said Mathi Gurusamy, chief strategy officer for Lantronix. “This award validates our strategy of delivering solutions that empower our customers to propel success in today’s IoT-driven world.”

Lantronix HY-LINE Case Study Success Highlights:

• Delivers secure connectivity with network connection via LAN, WLAN or store-independent with cellular IoT SIM connectivity as an integrated data package
• Provides secure remote management via the Percepxion IoT Edge Solutions Platform.
• Enables “National Seamless Roaming,” which automatically selects the best connection across all available cellular networks
• Enables scalable cloud management across the store chain, regionally, nationally or globally
• Captures data with sensors, delivering analytical insights on customer purchasing behaviors
• Facilitates the plug & play installation across multiple retail stores globally without wiring or cabling
• Enables live updates for sales, promotions or price changes
  

Winning Solution: Lantronix Routers, Connectivity Services and Percepxion Platform

Utilizing Lantronix products and services enabled HY-LINE to build connectivity into the Smart Shelf Solution, since the Smart Shelf comes pre-configured with the interactive display and router, it automatically connects to Cloud IoT management, where Percepxion provides chain-wide remote management of the connectivity.

Please visit the full case study here. To learn more about all of Lantronix IoT Solutions, visit the Lantronix website.

About Crossfire Media
Crossfire Media, co-publishers of IoT Evolution, is an integrated marketing company with a core focus on future trends in technology. We service communities of interest with conferences, tradeshows, webinars and newsletters. Crossfire Media has a partnership with Technology Marketing Corporation (TMC) to produce events and websites related to disruptive technologies. Crossfire Media is a division of Crossfire Consulting, a full-service Information Technology company based in New York.

About Lantronix
Lantronix Inc. is a global leader of compute and connectivity IoT solutions that target high-growth industries including Smart Cities, Automotive and Enterprise. Lantronix’s products and services empower companies to succeed in the growing IoT markets by delivering customizable solutions that address each layer of the IoT Stack. Lantronix’s leading-edge solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.

For more information, visit the Lantronix website.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements within the meaning of federal securities laws, including without limitation statements related to winning the 2024 IoT Business Impact Award, deployment for HY-LINE Group’s Smart Shelf, E210 Series Routers, and all other products, IoT SIM Connectivity Services and Percepxion, including statements about their reliability, security and flexibility. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2023, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 12, 2023, including in the section entitled “Risk Factors” in Item 1A of Part I of such report; in our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024, filed with the SEC on May 2, 2024, including in the section entitled “Risk Factors” in Item 1A of Part II of such report; as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. The forward-looking statements included in this release speak only as of the date hereof, and we do not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.

© 2024 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

Lantronix Media Contact:
Gail Kathryn Miller
Corporate Marketing &
Communications Manager
media@lantronix.com
949-212-0960

Lantronix Analyst and Investor Contact:
Jeremy Whitaker
Chief Financial Officer
investors@lantronix.com
949-450-7241

FAQ

What award did Lantronix win in 2024?

Lantronix won the 2024 IoT Business Impact Award from IoT Evolution magazine.

What product was highlighted in Lantronix's award-winning case study?

The E210 Router and its IoT SIM Connectivity Services were highlighted in Lantronix's award-winning case study.

What is the significance of Lantronix's E210 Router in the IoT industry?

The E210 Router plays a important role in secure and centrally managed global IoT deployments, particularly in retail, as demonstrated in the HY-LINE Smart Shelf project.

How is Lantronix contributing to the growth of IoT in the retail sector?

Lantronix supports the growth of IoT in retail by offering secure, plug-and-play connectivity services and scalable cloud management solutions, as seen in its HY-LINE Smart Shelf project.

What growth projections exist for IoT devices in the retail sector?

The retail sector's global shipments of IoT devices are projected to grow at a CAGR of 10% over the next three years, reaching 19 million units by 2027.

How does the Percepxion™ Cloud IoT Edge Solutions platform enhance Lantronix's IoT offerings?

The Percepxion™ platform offers secure remote management and analytics for customer purchasing behaviors, enhancing Lantronix's IoT solutions' effectiveness.