Semtech Corporation SMTC recently partnered with Amazon AMZN to collaborate on the latter’s network, Amazon Sidewalk.
Amazon Sidewalk is a low-bandwidth, long-distance wireless network that is used to connect smart devices, both inside and outside one’s home. Importantly, even when devices fall offline, the network allows the operation of a few functions.
Therefore, with the integration of Semtech’s LoRa platform in the Amazon Sidewalk network, the range of a customer’s home network can be extended to connect both outdoor and indoor low-bandwidth smart home products. These products include smart lights, pet trackers, sensors for asset tracking, smart irrigation, among others, which are used for residential purposes.
The LoRa Technology enables long-range connectivity of IoT devices and aids in connecting sensors to the cloud. Its long-range performance and low power consumption requirement enhance overall performance. Moreover, this technology helps in real-time communication of data and analytics to enhance efficiency, as well as productivity.
Semtech is witnessing growing strategic alliances and contracts, thanks to cost-efficient abilities of the LoRa technology in creating as well as deploying IoT solutions.
Consequently, the move is likely to boost the adoption rate of the company’s LoRa technology, which in turn will drive the top line.
Semtech Corporation Price and Consensus
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Market Opportunities to Aid Growth
This deal will strengthen Semtech’s presence in the smart home market on the back of increasing Internet users, rising importance of home monitoring in remote locations, and the growing need for energy-saving as well as low carbon emission-oriented solutions. Moreover, the rapid proliferation of smartphones & smart gadgets, growing concerns about safety and security, along with convenience among people are expected to fuel the demand for smart home solutions.
Per a report from MarketsandMarkets, the smart home market is expected to reach $78.3 billion