Lantronix Inc. Wins 2024 IoT Evolution Product of the Year Award From IoT Evolution World Magazine

Rhea-AI Summary

Lantronix Inc. (NASDAQ: LTRX) has been awarded the 2024 IoT Evolution Product of the Year Award for its Percepxion™ Cloud IoT Edge Solutions platform. This prestigious recognition from IoT Evolution World highlights Lantronix's commitment to advancing business efficiency and innovation in the IoT sector.

Launched in February 2024, Percepxion has set new standards for IoT operations management, serving a diverse clientele from Fortune 100 enterprises to startups. The platform offers comprehensive device lifecycle management, zero-touch automated provisioning, and remote management capabilities. It's pre-configured into Lantronix's IoT gateways, routers, trackers, and switches, making it ideal for critical infrastructure management, fleet management, and smart cities applications.

With the Enterprise IoT market reaching $269 billion in 2023 and growing at 15% year-over-year, Lantronix is well-positioned to capitalize on this expanding market with its innovative solutions.

Lantronix’s Percepxion Cloud Software Platform Honored as One of the Most Innovative IoT Products

IRVINE, Calif., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global leader in Compute and Connectivity IoT solutions, is proud to announce that its Percepxion™ Cloud IoT Edge Solutions platform has been honored with the prestigious 2024 IoT Evolution Product of the Year Award by IoT Evolution World, the leading online publication in IoT technologies. This esteemed award celebrates the most groundbreaking products and solutions in IoT as selected by the editors of IoT Evolution World. For Lantronix, being recognized underscores our unwavering commitment to advancing business efficiency and fostering innovation in the IoT sector with cutting-edge technology.

Since its launch in February 2024, the Percepxion platform has set a new benchmark for IoT operations management. Deployed by a diverse range of companies — from Fortune 100 enterprises to agile, cutting-edge startups — Percepxion has demonstrated its capability to streamline and enhance IoT operations across industries.

Rich Tehrani, CEO of TMC and co-publisher of IoT Evolution World, remarked, “I am pleased to congratulate Lantronix on this well-deserved award. The Percepxion platform showcases the level of innovation necessary to lead in the rapidly evolving IoT market. Lantronix's contributions are establishing new industry standards.”

Delivered as a service, the Percepxion multi-tenant cloud platform provides businesses with comprehensive device lifecycle management through Web, APIs and mobile apps. It is offered with Level Technical Support, limited warranty and other optional services. Remote installation of Lantronix devices includes zero-touch automated provisioning managed through Percepxion. Site-required firmware, configuration and certificates are remotely loaded to ensure secure data communication and compliant devices. The platform is ideal for critical infrastructure management, fleet management, smart cities, and other end-to-end IoT edge solutions.

The Percepxion platform is pre-configured into Lantronix’s award-winning IoT gateways, routers, trackers, and switches. Here’s how it benefits your business:

1. Secure, Comprehensive Device Lifecycle Management: Ensure your IoT devices are secure and compliant from installation to decommissioning.
2. Scalable Edge Deployments: Seamlessly manage devices through a single intuitive interface, scaling operations from regional to global levels.
3. Zero-Touch Automated Provisioning: Simplify device deployment with automated provisioning, reducing manual intervention and errors.
4. Remote Management: Load site-required firmware, configurations, and certificates remotely, ensuring secure data communication.

"This award for Percepxion highlights our dedication to providing cutting-edge IoT solutions that boost operational efficiency," said Mathi Gurusamy, Chief Strategy Officer for Lantronix. "We will keep enhancing the Percepxion platform to address the changing demands of the IoT industry, with a positive outlook on the future and strong confidence in our ability to deliver exceptional value to our customers."

According to IoT Analytics, Enterprise IoT market reached $269 billion in 2023, growing 15 percent year-over-year. With regions like China, India and the United States leading this growth as well as sectors such as automotive and process manufacturing driving vertical expansion, Lantronix is strategically positioned to capitalize on these trends. Our innovative solutions are designed to meet the increasing demand for secure, scalable IoT management.

To learn more about Percepxion and review its 60-day free trial offer, visit https://www.lantronix.com/percepxion/.

About Lantronix Percepxion™ Cloud Software Platform

Delivered as a service, the Percepxion multi-tenant cloud platform provides businesses with comprehensive device lifecycle management through Web, APIs and mobile apps. It includes Level Technical Support, a limited warranty and additional optional services. Ideal for critical infrastructure management, fleet management, smart cities and other end-to-end IoT edge solutions, Percepxion is the key to advancing your IoT operations.

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 Evolution Product of the Year Award 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's Percepxion platform win in 2024?

Lantronix's Percepxion Cloud IoT Edge Solutions platform won the 2024 IoT Evolution Product of the Year Award from IoT Evolution World magazine.

When was the Percepxion platform launched by Lantronix (LTRX)?

Lantronix (LTRX) launched the Percepxion platform in February 2024.

What are the key features of Lantronix's Percepxion platform?

Key features of Lantronix's Percepxion platform include secure device lifecycle management, scalable edge deployments, zero-touch automated provisioning, and remote management capabilities.

How does Percepxion benefit businesses using Lantronix (LTRX) products?

Percepxion benefits businesses by providing secure device management, scalable deployments, automated provisioning, and remote management for Lantronix (LTRX) IoT devices, enhancing operational efficiency.

What was the size of the Enterprise IoT market in 2023 according to the press release?

According to the press release, the Enterprise IoT market reached $269 billion in 2023, growing 15 percent year-over-year.