Semtech Corporation and Traxmate have announced a strategic collaboration that promises to transform the asset tracking market through the Internet of Things (IoT). This alliance combines the technologies of both companies to offer a hybrid solution that allows for accurate and efficient tracking both indoors and outdoors.
A hybrid solution for uninterrupted tracking
The new offering integrates Semtech’s LoRa Edge™ platform, known for its low power consumption and geolocation capabilities, with Traxmate’s positioning and tracking services enhanced by artificial intelligence. The result is a system that promises unprecedented efficiency in asset positioning, tracking, and routing connected to the IoT.
Responding to a growing market demand
According to Beecham Research, the IoT-backed asset tracking market is expected to represent more than 90% of all connected enterprise and industrial options by 2030. This collaboration comes at a crucial time as companies seek greater visibility and control over their logistical networks to reduce losses and theft.
Rikard Windh, COO of Traxmate, remarked, “Semtech’s LoRa Edge platform combines the strength of long-range connectivity with ultra-low-power GNSS resolution, making it the perfect complement to Traxmate’s AI-enhanced positioning services.”
Industry Impact
The significance of this collaboration becomes evident when considering that in the United States alone, the impact of cargo theft is estimated at over $30 billion annually. The joint solution from Semtech and Traxmate could significantly help mitigate these losses.
Madhu Rayabhari, Senior Vice President and General Manager of Semtech’s Analog, Mixed-Signal, and Wireless Products Group, stated, “Collaborating with Traxmate underscores Semtech’s commitment to drive technological solutions that simplify and accelerate IoT applications.”
Upcoming Demonstrations and Events
Semtech will showcase its latest LoRaWAN® and IoT solutions at the upcoming The Things Conference 2024. The event will feature demonstrations, talks, and expert panels from Semtech, providing a unique opportunity to learn more about these innovative technologies and their real-world application.
This collaboration between Semtech and Traxmate marks a significant milestone in the development of IoT solutions for asset tracking, promising to transform the way companies manage and protect their valuable resources in an increasingly connected world.