Semtech Corporation (SMTC - Free Report) recently announced that the company’s Low power, high Range (LoRa) devices and wireless radio frequency technology will be put to use in Brazil’s network, which is based on the LoRaWAN protocol, deployed by American Tower (ATC).
LoRa Technology enables long-range connectivity of Internet of Things (IoT) devices and aids in connecting sensors to the cloud. Moreover, to enhance efficiency and productivity, this technology helps in real-time communication of data and analytics.
ATC’s LoRaWAN-based network covers the major cities of Brazil, which account for 25% of the countries GDP. With Semtech’s aid, ATC intends to cover 50% of Brazil’s GDP and connect two million Internet of Things (IoT) devices by the end of 2019, using Everynet gateways and core wholesale technologies
Coming to price performance, shares of Semtech have returned 22.8% on a year-to-date basis against the industry’s decline of 21.7%.
IoT Market Growth Prospects
Internet of Things (IoT) devices have been gaining significant traction in recent times. It has been successful in making an impact across all end markets.
Per IOT Analytics, the number of IoT devices that are active is expected to grow from 7 billion in 2018 to 10 billion by 2020 and 22 billion by 2025, including devices on the consumer and enterprise side.
Presently, LoRaWAN networks are operating in more than 50 countries. The company expects its LoRaWAN open protocol to reach 70 countries in the near term. Industry experts expect four out of every 10 long-range IoT connections to be powered by LPWAN, with LoRaWAN being the dominant player.
Semtech is well poised to cater to growing demand in this domain on the back of its robust product portfolio and strong IoT capabilities.
Semtech Corporation Price and Consensus