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The Growing Importance of the Internet of Things

FinancialBuzz.com News Commentary

NEW YORK, April 21, 2017 /PRNewswire/ --

The Internet of Things (IoT) is becoming a prominent factor of our complex Internet infrastructure. A report by Research Nester projects that the global Internet of Things market is expected to reach USD 724.2 Billion by 2023, or growing at a CAGR of 13.2% during the forecast period of 2016-2023. The Internet of Things, which is a market in itself, includes components and devices that enable connectivity and exchange of information through the Internet. The rapid adoption of Internet connectivity around the world has enabled appliances for electronics such as washing machines, microwaves, televisions, connected vehicles and wearable electronic devices. TrackX Holdings Inc. (OTC: TKXHF) (TSX-V: TKX), Aerohive Networks, Inc. (NYSE: HIVE), Control4 Corporation (NASDAQ: CTRL), Digi International Inc. (NASDAQ: DGII), Lantronix, Inc. (NASDAQ: LTRX)

The report indicates that the importance of IoT is growing around industries and governmental organizations. These sectors can now thank the growing need for remote monitoring systems and Internet-enabled devices. These devices and systems are key to higher efficiency. For example, rising industrialization and advancement in the healthcare industry has given rise to tele healthcare services. These services then create the need for Internet of Things from the consumers end. Similarly, consumers are adopting smart devices rapidly, which then create pressure on industries to increase the consumption of Internet of Things.

TrackX Holdings Inc. (OTC: TKXHF) (TSX-V: TKX) on February 27th announced, "Completed Phase 1 of a national rollout with a leading U.S. used car retailer across 22 locations. The customer has requested TrackX to expand this deployment across an additional 20 locations and initiate an additional Phase 2 rollout to implement workflow tracking and analytics.

  • Accelerated the nationwide implementation and deployment of asset tracking, manufacturing work-in-process and yard management solutions across multiple divisions of one of the world's largest beverage companies.
  • Hired Mr. Jason Read a supply-chain logistic veteran formerly with Descartes Systems Group, as Chief Operating Officer, and hired Ms. Monica Kimbrough as strategic advisor. Ms. Kimbrough has served as Chief Enterprise Architect for Salesforce and supported the COO Lead Transformation Office at Cisco Systems.
  • Partnered with All Pretium Consulting Services. All Pretium has become the primary reseller partner for the sale and delivery of TrackX products throughout Latin America."

"Since our capital raise in May of 2016, we have made significant investments to better support, serve and expand our customer base, which includes several Fortune 500 companies," said TrackX President and CEO, Tim Harvie. "Our revenue growth during the quarter and subsequent expanded customer deployments are a direct result of these investments."

Aerohive Networks, Inc. (NYSE: HIVE) enables customers to simply and confidently connect to the information, applications, and insights they need. On April 20th, Aerohive Networks announced that Olathe Public Schools, the second largest and fastest-growing district in Kansas, deployed Aerohive's enterprise-grade Wi-Fi solution to support their 1:1 learning initiative across more than 50 schools. The Kansas City Metropolitan Area has 21 support facilities throughout the area to support more than 29,000 students and over 4,000 staff. In 2014, Olathe had many drivers for needing a rock-solid comprehensive wireless solution that was easy to manage across the entire network, including upgrades, configurations and seamless management for more than 22,000 IoT devices on the network.

Control4 Corporation (NASDAQ: CTRL) is a leading global provider of automation and networking systems for homes and businesses; offering personalized control of lighting, music, video, comfort, security, communications, and more into a unified smart home system that enhances the daily lives of its consumers. Recently, the company announced the new Pakedge PowerPak family of power control devices. Enabling Control4 and Pakedge dealers to remotely remediate problems and avoid costly onsite service visits, PowerPak PDUs provide centralized power control and management with surge protection for all equipment in a connected home. BakPak-enabled, dealers can monitor and manage PowerPak PDUs for their entire customer base in a single interface.

Digi International Inc. (NASDAQ: DGII) is a leading global provider of mission-critical machine-to-machine (M2M) and Internet of Things (IoT) connectivity products and services. The company helps its customers create next-generation connected products and deploy and manage critical communications infrastructures in demanding environments with high levels of security, relentless reliability and bulletproof performance. Recently, the company announced general availability for its ConnectCore® 6UL module platform. The ConnectCore 6UL delivers a secure connected Linux-based NXP i.MX6UL System-on-Module (SOM) with integrated dual-band 802.11ac wireless LAN and Bluetooth 4.2 connectivity in a low-profile surface mount form factor slightly larger than a postage stamp.

Lantronix, Inc. (NASDAQ: LTRX) is a global provider of secure data access and management solutions for Internet of Things (IoT) and information technology (IT) assets. With more than two decades of experience in creating robust machine to machine (M2M) technologies, Lantronix is an innovator in enabling its customers to build new business models and realize the possibilities of the Internet of Things. The company's connectivity solutions are deployed inside millions of machines serving a wide range of industries, including data center, medical, security, industrial, transportation, retail, financial, environmental and government.

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