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LoRaWAN market projected to grow by 47 percent

August 28, 2020  - By

logoThe global LoRaWAN market is projected to reach US$5557.2 million, growing at a very high compound annual growth rate (CAGR) of 47.2% during 2019 to 2027, according to market research firm InForGrowth.

LoRaWAN is mainly designed for wide range and low-power communications in smart city applications that benefit from wireless battery-operated devices and secure bi-directional communication, mobility and localization services.

InForGrowth’s LoRaWAN market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, the competitive landscape, sales analysis, impact of domestic and global market players, value-chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding and technological innovations.

Top driving factors

The report discusses these driving factors in the LoRaWAN market.

  • Growing adoption of smart devices (IoT) in smart cities and smart home projects.
  • The growing adoption of machine-to-machine communication devices due to low cost and less power consumption.
  • Due to the use of IoT in various applications such as smart metering, smart lighting, and livestock monitoring, organizations face challenges regarding the selection of an appropriate connectivity option for specific business use cases.
  • LoRaWAN mainly the private or virtual networks, and connect different endpoints that use different applications (IoT, M2M, smart cities, sensor networks, and industrial automation) in a single data environment. This fuels the demand for LPWANs that offer requisite connectivity, provide long-range access, and extended battery life for connected devices and sensors.

Market segmentation

The global LoRaWAN market has been segmented on the basis of deployment, hardware, application and end-user.

The application of LoRaWAN is based on industry verticals segmented into

  • asset tracking
  • smart metering
  • smart parking
  • smart waste management
  • smart building
  • others.

Top-end users — those receiving benefits through the LoRaWAN market — can be segmented into

  • agriculture
  • utilities
  • consumer electronics
  • healthcare
  • manufacturing
  • others.

Region Analysis

The market is classified into North America, Europe, Asia Pacific, Middle East, Africa and Latin America.

Europe dominated the market in 2018 and is anticipated to dominate the market in the coming years as well. This is mainly attributed to the rapid adoption of smart agriculture in the region. Large-scale macro-farms are being replaced by family-owned micro-farms across Europe.

Key players involved in the LoRaWAN market included in this study are Murata Manufacturing Co., Ltd., Link Labs, Microchip Technology Inc., Laird Connectivity, Semtech Corporation, SK Telecom Co. Ltd., Orange S.A. Senet Inc., Comcast Corporation and others.

Browse the full report.

About the Author: Tracy Cozzens

Senior Editor Tracy Cozzens joined GPS World magazine in 2006. She also is editor of GPS World’s newsletters and the sister website Geospatial Solutions. She has worked in government, for non-profits, and in corporate communications, editing a variety of publications for audiences ranging from federal government contractors to teachers.