Semtech Recognized as 2022 Global Company of the Year Award by Frost & Sullivan for Market Leadership and Enabling Businesses to Optimize Processes and Efficiency
Semtech's commitment to innovative and transformative technologies remains a main competitive advantage, making the company a preferred provider over other participants.
SAN ANTONIO, Jan. 31, 2023 /PRNewswire/ -- Recently Frost & Sullivan assessed the global Internet of Things (IoT) hardware industry and, based on its findings, recognizes Semtech with the 2022 Global Company of the Year Award for its IoT hardware. The company allows customers to connect end nodes and low-power wide area networks (LPWAN) remotely for IoT solutions easily and inexpensively through its LoRa-enabled hardware, disrupting the market. Semtech's LoRa® devices support the development of massive IoT use cases in different verticals, ranging from smart cities and homes to agriculture and logistics. With the sophisticated capabilities of high performance, high capacity, and inexpensive connectivity, Semtech's superior technologies are gaining mass adoption rates, reaching over 5 million gateways in service and 270 million endpoints deployed worldwide, as of September 2022.
Semtech aligns its acquisition strategy with its future-driven vision of expanding LPWAN adoption because the global rollout of LPWAN is accelerating quickly. The company purchased Sierra Wireless, a top provider of cellular IoT chipsets, for $1.2 billion in January 2023, incorporating cellular LPWAN technologies (NB-IoT and LTE-M) in its product portfolio, Semtech can pursue growth opportunities in the IoT market and reach new customers with its LoRa-enabled offerings. As part of its customer-centric approach, Semtech is focused on making the development process easier through the technology convergence of leading LPWAN specifications in one hardware device.
Cecilia Perez, Frost & Sullivan Best Practices Research Analyst, noted that "With its strategic acquisition and investment, Semtech is poised for significant revenue increase and market leadership in IoT hardware. Frost & Sullivan anticipates that by 2025, there will be 1.7 billion devices connected to LoRaWAN® and NB-IoT networks."
Semtech's integration of cellular and non-cellular technologies in hardware delivers the best value for developers, compared with competing products in the market, because of the company's strategy of developing simple, affordable, and secure solutions while addressing clients' most pressing needs. Semtech is making its mark by delivering targeted and innovative solutions tailored to customers' specific needs across verticals, driving customer experiences and market growth and thus strengthening its footprint and competitive advantage in the IoT space.
"Semtech's state-of-the-art technology integrates LoRa's low power features with cellular bandwidth, allowing developers to easily build smart solutions that solve the most critical industry challenges, including interoperability. Continuous efforts to support the rapid growth of LoRa position Semtech as a preferred hardware provider in the IoT space," added Perez. With its strong overall performance, Semtech earns Frost & Sullivan's 2022 Global Company of the Year Award in the IoT hardware industry.
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Semtech Corporation (Nasdaq: SMTC) is a high-performance semiconductor, IoT systems and Cloud connectivity service provider dedicated to delivering high quality technology solutions that enable a smarter, more connected and sustainable planet. Our global teams are dedicated to empowering solution architects and application developers to develop breakthrough products for the infrastructure, industrial and consumer markets. To learn more about Semtech technology, visit us at Semtech.com or follow us on LinkedIn or Twitter.
Semtech, the Semtech logo and LoRa are registered trademarks or service marks of Semtech Corporation or its subsidiaries.
SOURCE Frost & Sullivan