LoRa and LoRaWAN Devices Market

Global LoRa and LoRaWAN Devices Market is valued at USD 1.3 Billion in 2021 and expected to reach USD 11.6 Billion by 2028 with a CAGR of 36.6% over the forecast period.

Global LoRa and LoRaWAN Devices Market: Global Size, Trends, Competitive, And Historical& Forecast Analysis, 2022-2028: Increasing adoption of 4.0 in industries, rapid proliferation of connected devices, and government initiatives for development of smart cities are some of the major factors driving the growth of the Global LoRa and LoRaWAN Devices Market.

Scope of Global LoRa and LoRaWAN Devices Market

LoRa and LoRaWAN devices use a non-cellular wireless communication technology that allows for long-distance communication. LoRaWAN is a communication protocol as well as a system architecture for LoRa IoT networks. Because of its great signal range and low power needs, the LoRaWAN technology stack is the perfect solution for linked cities. With the rapid adoption of IoT technology, the worldwide LoRa and LoRaWAN Market has emerged as the fastest growing Internet of Things (IoT) communication technology. LoRaWAN is an acronym for Low Power Wide Area Network, while LoRa is an acronym for Long Range Radio, both of which are largely based on a highly secure wireless technology specialised to IoT networks. It runs smoothly in harsh situations with minimal power and throughput requirements. The worldwide LoRa and LoRaWAN market has certain key characteristics that have led to its widespread adoption across a variety of sectors. LoRaWAN's open standard makes it appealing for a wide range of industrial, commercial, and residential applications where IoT solutions are the way of the future. The rising ecosystem of LoRaWAN technology suppliers, which includes network operators and system integrators as well as makers of IoT devices, gateways, end nodes, and sensors, will continue to promote LoRa and LoRaWAN adoption. The advantages and enhanced capabilities of chirp spread spectrum technology, especially its robustness against multipath fading, are examined in order to push the expansion of the LoRa and LoRaWAN device markets. Furthermore, the rising demand for LoRa-based machine vision cameras for real-time quality inspection is expected to drive market expansion during the forecast period.

The COVID -19 epidemic has had a favourable effect on the worldwide LoRa and LoRaWAN device industry. When the globe is dealing with the COVID-19 epidemic, LoRa devices and the LoRaWAN protocol are playing an important role in providing public safety solutions to aid with contact tracing, guaranteeing healthcare regulatory compliance in the workplace, and meeting medical professionals' demands. As the healthcare business embraces remote techniques and mandatory lockdowns throughout the world, consumers have increased their usage of personal devices and home internet connections, driving up demand for LoRa and LoRaWAN devices. As a result, the demand for LoRa and LoRaWAN devices is growing on a daily basis.

The global LoRa and LoRaWAN Devices market is segmented based on the product, application, and end users. Based on application, the market is segmented into environment monitoring, smart homes & buildings, smart grid, smart manufacturing, asset tracking, smart metering, smart parking, and others. Based on product, the global LoRa and LoRaWAN devices market is segmented into networking gateways, transceivers, tracker modules, and others. Based on end-users, the global LoRa and LoRaWAN devices market is segmented into industrial which is further classified into automotive, food & beverages, oil and gas, mining, chemical, power & utilities, healthcare, and others, commercial is further classified into enterprise, hospitality, retail, sports, transportation, warehouse & logistics, IT and telecommunication, agriculture, and others, and residential.

The regions covered in the global LoRa and LoRaWAN Devices market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global LoRa and LoRaWAN Devicesis sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.

Global LoRa and LoRaWAN Devices Market Segmentation

By Product

• Networking Gateways
• Transceivers
• Tracker Modules
• Others

By Application

• Environment Monitoring
• Smart Homes & Buildings
• Smart Grid
• Smart Manufacturing
• Asset Tracking
• Smart Metering
• Smart Parking

By End-Users

Industrial

• Automotive
• Food & Beverages
• Oil And Gas
• Mining
• Chemical
• Power & Utilities
• Healthcare
• Others

Commercial

• Enterprise
• Hospitality
• Retail
• Sports
• Transportation
• Warehouse & Logistics
• IT & Telecommunication
• Agriculture
• Others
• Residential

Key Players of Global LoRa and LoRaWAN Devices Market

The global LoRa and LoRaWAN devices market report cover prominent players like

• Everynet BV
• Cisco Systems Inc
• Semtech Corporation
• Kerlink SA
• Orange SA
• SK Telecom Co
• Microchip Technology
• Swisscom AG
• Singapore Telecommunications
• Cavagna Group
• others.

News

LoRa Alliance Upgraded Features that Expand LoRaWAN Coverage for Metering, Utilities, Smart Cities and Industrial Applications

On October 3^rd 2022, the LoRa Alliance, which supports the open LoRaWAN standard for IoT low-power wide-area networks (LPWANs),  updated the LoRaWAN link-layer standard to include a relay definition. This enables LoRaWAN to provide exceptional coverage in use scenarios needing deep interior or subterranean coverage, as well as relay data on nearby satellite-connected LoRaWAN devices.

Milesight IoT partnered with Actility to Improve Global Network Coverage Through Accessible LoRaWAN Operation Options

On September 12^th 2022, Milesight IoT  formed a strategic relationship with Actility to assist the adoption of IoT use cases for smart buildings such as indoor air quality (IAQ), smart workplaces, smart cities, and smart agriculture. The collaboration aims to merge both firms' offerings in order to give seamless Milesight LoRaWAN gateway access to Actility ThingPark, allowing for broad control, monitoring, and change of sensor and network data.

ECN, a Division of Netmore Group Acquired Dutch LoRaWAN Operator Techtenna

On June 3^rd 2022, European Connectivity Networks (ECN), a joint venture between Netmore Group and infrastructure firm Polar Structure, announced to have  acquired Dutch LoRaWAN operator Techtenna. The purchase of Techtenna is a crucial milestone in the company’s  European IoT expansion and in connecting smart metres and sensors that give measurability and traceability in an easy and cost-effective manner.

Increasing Adoption of 4.0 in Industries, Rapid Adoption of Connected Devices, and Government Initiatives for Development of Smart Cities are Some of the Major Factors Driving the Market Growth

The market is being driven by the increasing usage of new generation digital technologies such as artificial intelligence and machine learning for merging IT and OT to optimise real-time applications across various business verticals. The market is being boosted by the increasing use of industry 4.0 to deliver unity through strategic networking across all linked smart devices to expedite process flows through a low power, cost effective wide area network. The market has grown as a consequence of increased expenditures in digitization across different process and discrete sectors to monitor and regulate real-time data for M2M communications in order to maximise production yield, efficiency, and quality. Wireless technologies, such as Bluetooth and Zigbee, have been shown to be ineffective for long-distance connectivity; hence, LoRA and LoRAWAN-based devices are thought to be the best choices for high-speed M2M communication over a wide region. Several top IoT solution providers, including Digital Matter, Conserv, and Smart Mimic, are leveraging Semtech and Helium's collaborative solutions to integrate smart technologies with IIoTs, hence fueling the worldwide expansion of the LoRA and LoRAWAN markets.

As the internet of things (IoT) has changed device usage, there has been a surge in demand for linked gadgets in recent years. It has enabled items to link and interact over the internet and has various uses such as smart water management systems and other gadgets that can improve customers' lives. They do, however, need very energy-efficient sensor nodes that can communicate over great distances. To meet these needs, numerous Low-Power Wide Area Networks (LPWAN) technologies, such as LoRa, are being developed. As a result, IoT devices and other applications based on LoRa and LoRaWAN are feasible communication technologies for applications that require long-distance communications and are deployed in a scattered way.

Increased investment in smart city initiatives to handle transportation, communication, energy, health and safety, and waste management with intelligent solutions has aided market growth. During the forecast period, the market is expected to be driven by rising demand for high-speed connectivity for intelligent traffic control, smart waste management, environmental monitoring, real-time crime mapping, and telemedicine inside smart cities. As a result, the government is investing in smart city development in order to create the most enticing places to live and work. For example, in August 2021, the United States government announced a USD 1 trillion bipartisan infrastructure plan to give towns with new opportunities for technology and transportation finance, including a grant programme for smart cities technologies. Rising adoption of the medium access control (MAC) protocol for LoRa and LoRaWAN devices allowing long-distance communication, as well as rising demand for cost-effective and energy-efficient wireless IoT networks with long-distance access, will drive the market during the projection period. Everynet and Cellnex have signed a deal to build IoT networks based on LoRa technology in Italy, the United Kingdom, and Ireland. Such advancements and new introductions are expected to drive market expansion.

However, the shortage of qualified personnel to operate LoRa and LoRaWAN devices, as well as data breaches and security risks related with LoRa and LoRaWAN devices, may stymie market expansion. Despite this, rising demand for greater connection and technological innovation may open up new avenues for market expansion.

North America is Expected to Capture a Major Share in the Global LoRa and LoRaWAN Devices Market

Based on the increasing installation of smart metres in the region, the market for LoRa and LoRaWAN devices in North America has grown significantly over the years. Water shortage has resulted in an increase in demand for water to be used in a more regulated manner, avoiding waste. The maintenance standards for water mains and sewage systems in the United States are relatively low. Larger amounts of water are wasted as a result of leaking pipes. In the United States, for example, Northeast Nebraska Public Power District collaborated with Vision Metering to implement smart metres. Northeast Nebraska Public Power District is the first utility to use LoRaWAN IoT connectivity technology in its electric metres.

Rising demand for IoT devices in APAC, where the LoRa and LoRaWAN device markets are gaining popularity in developing economies such as Japan, China, and India, among others, since they provide a diverse variety of IoT use cases such as smart cities and smart agriculture. Massive Internet of Things deployments across a number of end user industries, including manufacturing, transportation, and healthcare, to allow linked devices that demand low power consumption, long ranges, and low pricing. These IoT devices, which demand more internet access, are helping to fuel the expansion of the LoRa and LoRaWAN device markets.

By Regional & Country Level

North America

• U.S
• Canada

Europe

• U.K
• France

Germany

• Italy
• Asia Pacific
• China
• Japan
• India
• Southeast Asia

Latin America

• Brazil
• Mexico

Middle East and Africa

• GCC
• Africa
• Rest of Middle East and Africa

Report Analysis	Details
Historical data	2016 - 2021
Forecast Period	2021 - 2028
Market Size in 2021:	USD 1.3 Billion
Base year considered	2020
Forecast Period CAGR %:	36.6%
Market Size Expected in 2028:	USD 11.6 Billion
Tables, Charts & Figures:	175
Pages	300
Companies	Everynet BV, Cisco Systems Inc, Semtech Corporation, Kerlink SA, Orange SA, SK Telecom Co, Microchip Technology, Swisscom AG, Singapore Telecommunications, Cavagna Group, others.
Segments Covered	By Product, By Application, By End User.
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa