New Lantronix solutions target the high-growth telematics market estimated to reach $3.7 Billion by 2027
IRVINE, Calif., April 16, 2024 (GLOBE NEWSWIRE) - Lantronix Inc. (NASDAQ: LTRX), a global provider of compute and connectivity IoT solutions, today launched its new FOX4 and Bolero 43 edge compute tracker telematic gateways. Designed for assets and fleet management, both products come pre-configured with Lantronix’s Percepxion™ IoT edge software platform, which provides secure, comprehensive IoT device provisioning and management. The two new products were showcased in the Lantronix booths at Embedded World 2024 (Hall 3, booth 356) held April 9–11, 2024, in Nuremberg, Germany, and ISC West 2024 (booth 7117) held April 10–12, 2024, in Las Vegas.
Ursula Hess, CEO of Quantum Aviation, a customer of Lantronix telematic products, said, “Utilizing Lantronix’s FOX Series Telematic Gateways, we are able to feed reliable, real-time data to our cloud-based software solution, which gives our aviation customers access to critical information for real-time visibility and actions as well as long-term analytics.”
According to Berg Insight, the global shipments of aftermarket telematic devices will grow at a CAGR of 10.5 percent in the next five years to reach 77.6 million units in 2027 for a total market value estimated to reach $3.7 billion by 2027. Lantronix’s innovative hardware and software effectively target this market, supporting these growth trends.
"Our new telematic devices provide a complete package that merges connectivity and cloud device management with award-winning hardware,” said Jacques Issa, VP of Marketing for Lantronix. “Lantronix is committed to innovation by introducing integrated hardware and software products where ease of use in customizing, on-boarding and provisioning remotely is paramount.”
The FOX4 Edge Compute Tracker
The latest upgrade in Lantronix’s FOX series, the FOX4 Edge Compute Tracker offers seamless integration of cellular and GNSS technologies, now enriched with BLE and Wi-Fi® connectivity, alongside advanced security features. FOX4 is engineered for versatility, and its design is optimal for a wide range of applications, from industrial complexes to urban landscapes. FOX 4 also offers the capability to support both internal and external antennas.
With robust support for PFAL scripting, LUA, MQTT, Azure and REST API, the FOX4 Series Trackers ensure that the user’s product can seamlessly communicate with virtually any telematics platform, reducing development time and accelerating the path to market.
The Bolero 43 Edge Compute Tracker
The Bolero 43 Edge Compute Tracker excels in asset and fleet management and Industrial IoT applications, such as manufacturing and automation. A derivative of the FOX4 series, the Bolero 43 integrates into the same ecosystem and uses the same programming languages. Designed for harsh environments, the Bolero 43 features an IP68 rating and a rugged design for durability. It is now globally available.
Both the FOX4 and Bolero 43 Edge Compute Trackers feature customization capabilities that are facilitated by the intuitive Workbench tool, enabling easy customizations from performance optimization to unique functionality integration.
Uninterrupted Uptime With Lantronix Connectivity Services SIM Card
FOX4 and Bolero 43 Series Telematic Gateways come preinstalled with Lantronix’s Connectivity Services SIM card that empowers users with a wide range of carrier options, allowing them to select the most suitable network provider, including industry leaders such as Verizon, AT&T and T-Mobile in North America as well as multiple carriers in the Europe and Asia Pacific regions.
Percepxion Service for Lantronix IoT Device Lifecycle Management
Delivered as a service, the Percepxion IoT edge software platform provides comprehensive device management through an intuitive single-pane-of-glass dashboard. Percepxion efficiently scales IoT edge deployments, including telematic gateways, from regional to global installations. This service will position Lantronix to target Annual Recurring Revenue (ARR) growth in the coming year.
Learn more about Percepxion and review its 60-day free trial offer here.
About Lantronix
Lantronix Inc. is a global provider 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 achieve success 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: 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, as well as the FOX4, Bolero 43 and Percepxion, and expectations regarding our management and our future growth and profitability. 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 Dec. 31, 2023, filed with the SEC on Feb. 8, 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.
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