LoRa And LoRaWAN IoT Market size was USD 8.69 Billion in 2024 and is expected to reach USD 68.12 Billion by 2035, at a CAGR of 35.30% during the forecast period 2024-2031.
LoRa and LoRaWAN IoT market includes the ecosystem around Long Range (LoRa) technology and its Wide Area Network (LoRaWAN) protocol, which is specifically meant for facilitating long-range communication for Internet of Things (IoT) devices. This market encompasses hardware devices like LoRa-enabled modules, gateways, and sensors, as well as software products for application development, data analytics, and device management specifically for LoRaWAN networks. It also includes service providers providing network infrastructure, deployment, and management services for LoRaWAN implementations in different industries.
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LoRa and LoRaWAN IoT Market Dynamics
Network Density and Scalability to enhance the LoRa and LoRaWAN IoT Market growth
The LoRaWAN networks can scale to cover high numbers of devices, which makes it a scalable option for IoT deployments. The technology is capable of supporting multiple applications from a few devices to huge deployments, creating flexibility and adaptability. Cost-effective connectivity is provided by LoRa technology, making it a preferred choice for IoT applications. The long-range capabilities minimize the necessity of a high-density network of infrastructure, lowering the cost of deployment and propels the LoRa and LoRaWAN IoT Market. LoRa and LoRaWAN are applied in various verticals such as smart cities, agriculture, industrial IoT, logistics, healthcare, and environmental monitoring.
The technology’s versatility fuels its adoption across industries.
LoRa (Long Range) and LoRaWAN (Low Power Wide Area Network) technologies have become catalysts of change in the field of IoT (Internet of Things), propelling massive market development. Their key characteristics like extended range connectivity, low power utilization, scalability, and affordability, have made them unavoidable across multiple industries like agriculture, smart cities, logistics, and industrial automation. These features, along with other special advantages, have driven their swift adoption, and they are at the forefront of the IoT revolution. One of the most important factors behind the mass adoption of LoRa and LoRaWAN is their outstanding cost-effectiveness, which greatly enhances the LoRa and LoRaWAN IoT Market growth. In a world where companies aim to deploy IoT solutions at scale, LoRa’s capacity to connect thousands of devices over vast geographic regions is an attractive value proposition. Its affordability lowers the cost of entry for organizations willing to adopt IoT on a large scale, rendering it a first choice for organizations seeking to tap the full potential of IoT technology while minimizing operational costs.
| Global LoRa and LoRaWAN IoT Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2024 | Forecast Period: | 2024-2035 |
| Historical Data: | 2021 to 2024 | Market Size in 2024: | US $ 8.69 Bn. |
| Forecast Period 2024 to 2035 CAGR: | 35.30% | Market Size in 2035: | US $ 68.12 Bn. |
| Segments Covered: | by Product | Hardware Software Services | |
| by Application | Asset Tracking Industrial IoT Smart Cities Smart Agriculture and Livestock Management Smart Buildings Smart Healthcare Others | ||
| by End User | Retail Manufacturing Healthcare Energy & Utilities Residential Others | ||
LoRa and LoRaWAN IoT Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina, Columbia and Rest of South America)
LoRa and LoRaWAN IoT Key Players Include:
Global: 1. Semtech Corporation (California, USA) 2. The Things Industries (Amsterdam, Netherlands) 3. Actility (Paris, France) 4. Laird Connectivity (Ohio, USA) 5. Link Labs(Maryland, USA) 6. Cisco Systems, Inc (California, USA) 7. Huawei Technologies Co., Ltd.(Guangdong, China) 8. Bosch.IO (Stuttgart, Germany) North America: 1. Senet, Inc. ( New Hampshire, USA) 2. MachineQ (Comcast)(Pennsylvania, USA) 3. Laird Connectivity (US) Asia Pacific: 1. NEC Corporation(Japan) 2. Tata Communications (India) 3. Advantech (Taiwan) 4. Murata (Japan)
LoRa And LoRaWAN IoT Market, By Device Type
- LoRaWAN Sensors IoT sensors equipped with LoRaWAN connectivity for data transmission.
- LoRaWAN Modules Communication modules with LoRaWAN capabilities that can be integrated into various devices.
- LoRaWAN Gateways Gateways or base stations facilitating communication between LoRaWAN devices and the network server.
LoRa And LoRaWAN IoT Market, By Network Architecture
- Public LoRaWAN Networks Open and publicly accessible LoRaWAN networks for various IoT applications.
- Private LoRaWAN Networks Closed or privately managed LoRaWAN networks for specific enterprise or industrial use.
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LoRa And LoRaWAN IoT Market, By Application Type
- Asset Tracking Tracking the location and condition of assets in real-time.
- Environmental Monitoring Monitoring parameters like temperature, humidity, and air quality.
- Smart Metering Remote monitoring and management of utility meters.
- Predictive Maintenance Monitoring equipment health to predict and prevent failures.
- Smart Agriculture Precision farming applications for crop monitoring and irrigation control.
- Supply Chain Management Monitoring and optimizing the movement of goods in the supply chain.
- Emergency Services LoRaWAN applications for emergency response and public safety.
