Semtech Corporation, a high-performance semiconductor, IoT systems, and cloud connectivity service provider, announced its collaboration with Traxmate, a leading global IoT tracking platform provider, to offer a seamless indoor and outdoor asset tracking solution. Combining Traxmate’s precise location and tracking services with Semtech’s low-power, location-aware LoRa Edge platform, the hybrid solution provides unmatched efficiency for positioning, tracking, and routing of IoT-connected assets.
According to Beecham Research, the IoT-supported asset tracking market is expected to account for over 90% of all connected enterprise and industrial options by 2030. With greater visibility and control over their logistics networks, businesses can significantly reduce loss and theft by tracking high-value assets in real time. In the U.S. alone, the impact of cargo theft is estimated at over $30 billion annually.
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“Semtech’s LoRa Edge platform combines the strength of long-range connectivity with an ultra-low power GNSS resolver, making it the perfect complement to Traxmate’s AI-enhanced positioning services,” said Rikard Windh, COO at Traxmate. “Together, this enables unparalleled, real-time location accuracy in 2D and 3D to revolutionize asset management with enhanced accuracy and efficiency.”
“The collaboration with Traxmate underscores Semtech’s commitment to drive technology solutions that simplify and accelerate IoT applications,” said Madhu Rayabhari, senior vice president and general manager of Semtech’s Analog, Mixed Signal and Wireless Products Group. “For asset tracking, a hybrid approach like this can provide the true ubiquitous coverage needed for robust and secure supply chain networks.”
Semtech’s LoRa platform is a globally adopted long range, low power solution for IoT applications, enabling the rapid development and deployment of ultra-low power, cost efficient and long range IoT networks, gateways, sensors, module products, and IoT services worldwide. Semtech’s LoRa technology provides the communication layer for the LoRaWAN standard, an ITU-T Y.4480 standard which is maintained by the LoRa Alliance®, an open IoT alliance for Low Power Wide Area Network (LPWAN) applications that has been used to deploy IoT networks.
SOURCE: Businesswire