Lantronix Named Winner of 2023 IoT Breakthrough Awards
IRVINE, Calif., Jan. 12, 2023 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global provider of secure turnkey solutions for the Industrial Internet of Things (IoT) and the Intelligent IT market, today announced that it was named a winner of the 2023 IoT Breakthrough Awards. It received the “IoT Innovation – Enterprise Solution of the Year” Award for its 24-port Managed Gigabit Ethernet PoE++ Switch (SM24TBT2DPB). The IoT Breakthrough Awards have recognized the world’s best IoT companies, products, services and people since 2017.
“We are honored to be named a winner of the 2023 IoT Breakthrough Awards,” said Paul Pickle, president and CEO of Lantronix. “We attribute our fast-paced growth to our innovations in IoT for intelligent IT, artificial intelligence, robotics, communications and mobility, which empower our clients to develop world-changing innovations in industries ranging from enterprise to smart cities.”
PoE shipments are projected to increase from $175.7 million in 2021 to $279.6 million in 2026 and will comprise 47 percent of campus switch port shipments by 2026, according to research firm Dell’Oro Group. During the forecast period, they expect that higher-power capacity PoE ports (greater than 30 watts per port) will become more prevalent to support new devices, such as security cameras, LED lighting, network-attached storage, building automation, power gateways and industrial controls.
The IoT Breakthrough Awards honor the excellence of IoT companies, technologies and products. The awards are presented by the Tech Breakthrough organization, a leading market intelligence platform. The award process encompasses comprehensive analysis of 4,000 entries from IoT companies with products offering solutions from connected home to industrial and enterprise IoT solutions.
This year’s winners from other categories include an impressive list of top companies and startups, including Amazon, ecobee, Moen, General Electric, Mitsubishi Electric, Cox, Rockwell Automation, Johnson Controls, Lenovo, HARMAN and Verizon.
Lantronix’s 24-Port Managed Gigabit Ethernet PoE++ Switch
Lantronix’s 24-Port Managed Gigabit Ethernet PoE++ Switch powers multiple applications from a single device and is ideal for IoT applications such as intelligent LED lighting and smart building IoT applications, including access control, digital signage, wireless access points (WAPs) and IP surveillance systems.
Lantronix Inc. is a global provider of secure turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM), offering Software as a Service (SaaS), connectivity services, engineering services and intelligent hardware.
Lantronix enables its customers to accelerate time to market and increase operational up-time and efficiency by providing reliable, secure and connected Intelligent Edge IoT and Remote Management Gateway solutions.
Lantronix’s products and services dramatically simplify the creation, development, deployment and management of IoT and IT projects across Robotics, Automotive, Wearables, Video Conferencing, Industrial, Medical, Logistics, Smart Cities, Security, Retail, Branch Office, Server Room, and Datacenter applications. For more information, visit the Lantronix website.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Any statements set forth in this news release that are not entirely historical and factual in nature, including, without limitation, statements related to our solutions, technologies and products, are forward-looking statements. 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; the impact of the COVID-19 outbreak on our employees, supply and distribution chains, and the global economy; 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, 2022, filed with the Securities and Exchange Commission (the “SEC”) on Aug. 29, 2022, including in the section entitled “Risk Factors” in Item 1A of Part I 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.
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