2024 marked an exciting chapter for Semtech, solidifying our commitment to advance cellular IoT technologies while supporting the long-term success of our customers. Through innovations and a continued commitment to quality and reliability, we have supported organizations worldwide to harness the full potential of IoT with confidence and ease.
As we have entered what should be an exciting new year, here’s a closer look at the milestones we achieved in 2024.
2024 brought notable challenges, with geopolitical and economic uncertainties putting pressure on industries worldwide. For companies striving to innovate—particularly through IoT—reliable partnerships became essential. Semtech has been proud to stand as a trusted supplier, offering solutions that organizations can rely on to thrive amid complexity. Backed by over 30 years of cellular experience and our status as a publicly traded NASDAQ company, we operate with full transparency, adhering to GAAP financial standards. Our U.S.-based headquarters provide critical industries with the confidence they need to innovate while maintaining supply chain resilience during uncertain times.
This year, Semtech continued to support leading industrial and public safety organizations, including all the Top 20 U.S. Utilities1, in connecting their mission-critical networks and assets. To further strengthen this commitment, 2024 saw the launch of our new Canadian manufacturing facility. This facility enhances our ability to produce routers compliant with the U.S. Trade Agreement Act (TAA), ensuring we meet the highest regulatory requirements while enhancing supply chain resiliency for our customers.
Reinforcing these advancements is a stronger financial standing, highlighted by successful public offerings and sustained growth. This stability underscores Semtech’s leadership in the cellular IoT sector, as we continue to deliver trusted, future-ready solutions that empower businesses to innovate with confidence, even in the face of geopolitical and economic uncertainties.
Building on this foundation of trust and reliability, Semtech has continued to push the boundaries of IoT innovation across its core product categories to empower our customers to stay ahead in a rapidly evolving landscape.
Semtech has reached new milestones in cellular module innovation, equipping businesses with the tools they need to stay ahead in an evolving IoT landscape.
One of our standout innovations this year was the introduction of the AirLink XR60 5G Router Solution. Introduced as the world’s smallest rugged 5G Router, the XR60 reflects Semtech’s dedication to addressing the needs of public safety and industrial organizations. These sectors require routers that are not only technologically advanced but also compact, rugged and reliable under the harshest conditions. The XR60 rises to the challenge with its ultra rugged and compact design, next-generation operating system, and long-term reliability backed by a five-year service package. Recent integration with AWS IoT Greengrass further extends its edge computing capabilities.
Acknowledging AirLink routers’ critical role in maintaining critical infrastructure and fleet operations, we’ve standardized the five-year service package across our XR60 routers.
This comprehensive package includes five years of remote management, technical support and hardware warranty — key tools to help mission-critical organizations safeguard and future-proof their networks with confidence.
Our AirLink Management Service (ALMS) platform also saw major updates in 2024, focused on providing more flexibility and control to our customers.
As a leading full IoT MVNO (Mobile Virtual Network Operator), Semtech provides reliable IoT connectivity through 600+ partner networks across 190+ countries and territories. At the heart of our IoT connectivity offerings lies Smart Connectivity Premium, a solution that delivers unparalleled global coverage with multi-profile, multi-IMSI SIM. Powered by Semtech's proprietary applet, built-in intelligence navigates the connection to the best available network, enabling businesses to deploy ONE Global SIM SKU — even in regions with permanent roaming restrictions.
Over the past year, we’ve further enhanced our network reach and service capabilities to better serve our customers. Here are some of the key advancements:
On top of our global connectivity service, we continue to provide dependable fully managed Broadband Access and Satellite Tracking solutions, empowering enterprises with reliable solutions for business continuity and asset tracking.
Additionally, we’ve started to deploy AirVantage Smart Sensing, a managed IoT solution that integrates a LoRaWAN® sensing network with cellular backhaul. This innovative technology is already transforming assisted living in the U.K., setting new benchmark for IoT-powered healthcare and independent living.
Making IoT simple has been at the heart of Semtech’s mission throughout 2024 and will continue to drive us forward in 2025 and beyond. We are dedicated to providing end-to-end solutions that are seamless, secure, and scalable.
Our integrated solutions combining AirVantage Services with our cellular modules and routers enable businesses to concentrate on creating value while we handle the technical complexities. With globally pre-certified modules, we eliminate regional deployment hurdles, saving businesses time and effort. Our standardized module form factors further facilitate IoT deployments by simplifying technology upgrades, enabling easy migration without the need for redesigns.
Security remains at the core of our solution design, including regular independent audits and vulnerability management processes, notably with our role as a Common Vulnerabilities and Exposures (CVE) Numbering Authority for our router solutions.
To further support our customers, our global team of field application engineers and customer success professionals work closely with our customers to accelerate integration, simplify certifications, and drive faster time to market, helping businesses build reliable and future-proof IoT networks with confidence.
Looking to 2025 and beyond, Semtech remains committed to advancing IoT technologies that simplify and enrich cellular IoT while prioritizing security, compliance, and sustainability. With a proven track record of reliability and innovation, we are well-positioned to continue leading the way in cellular IoT, enabling our customers to meet tomorrow's challenges with confidence.
Our dedicated IoT experts are ready to support you with the quality solutions and comprehensive support needed for a successful 2025 and beyond. Contact us today to kickstart your IoT success.
1 | Based on top U.S. Utility companies by market cap as of March 2024
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