LoRa and LoRaWAN IoT Market Trend Analysis, Latest Revenue Figures, Business Outlines, Growth Insights, Industry Supply, and Forecasts until 2029 | Cisco (US), NEC Corporation (Japan), Tata Communications (India), Semtech (US), Orange SA (France), Advante

LoRa and LoRaWAN IoT Market by Offering (Hardware, Platforms, and Services), Application (Smart Cities, Industrial IoT, Smart Healthcare), End User (Retail, Manufacturing, Healthcare, Energy & Utilities, Residential) and Region - Global Forecast to 2028

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The major players in the LoRa and LoRaWAN IoT market are Cisco (US), NEC Corporation (Japan), Tata Communications (India), Semtech (US), Orange SA (France), Advantech (Taiwan), Comcast (US), AWS (US), Bosch (Germany), Murata (Japan), Laird Connectivity (US), Kerlink (France), Senet (US), Actility (France), Sensoterra (Netherlands), DIGI International (US), Nwave Technologies (UK), RAKwireless (China), thethings.io (Spain), Datacake (Germany), MultiTech (US), Milesight (China), LORAIOT (Switzerland), Exosite (US), and OrbiWise (Switzerland).These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, and product enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT market.

"LoRaWAN operates on an open standard, allowing interoperability between different vendors and solution providers. This openness promotes collaboration and innovation, fostering the development of diverse LoRa-based products and services."

The LoRa and LoRaWAN IoT market is estimated at USD 5.6 billion in 2023 and is projected to reach USD 25.5 billion by 2028, at a CAGR of 35.3% from 2023 to 2028. Various key players in the ecosystem have led to a competitive and diverse market. Government initiatives to establish smart cities is expected to drive the adoption of the LoRa and LoRaWAN IoT market in the future.

"By hardware, system on chipsegment to hold the largest market size during the forecast period"

System on Chip (SoC) is a type of hardware component commonly used in LoRaWAN IoT devices, which integrates multiple components, including microprocessors, memory, and communication interfaces, onto a single chip. SoC technology is popular in the IoT industry as it offers a compact, cost-effective, and low-power solution for building connected devices. These SoCs are specifically designed for LoRaWAN communication and enable IoT devices to connect to LoRaWAN networks and transmit data. Many semiconductor manufacturers are investing in developing SoC solutions specifically designed for the IoT market.

Based on end users, transportation and logistics segment is expected to register the fastest growth rate during the forecast period.

The transportation and logistics industries embrace LoRa and LoRaWAN IoT technologies to transform operations and drive efficiency. LoRa and LoRaWAN offer valuable advantages, including long-range connectivity, low power consumption, and the ability to connect numerous devices simultaneously. By leveraging these technologies, transportation and logistics companies can implement a wide range of IoT applications that optimize processes, enhance safety, and streamline operations. For example, real-time tracking and monitoring of assets, vehicles, and shipments become feasible through LoRa and LoRaWAN.

"Asia Pacific to register the highest growth rate during the forecast period"

Asia Pacific comprises nations with rapid technological development, such as China, Japan, and India. Asia Pacific is home to several developing countries that are experiencing rapid urbanization. This offers enormous business opportunities for LoRa and LoRaWAN IoT vendors, even while presenting grave challenges for sustainable development. Singapore implemented a nationwide LoRaWAN network, enabling applications such as smart lighting, waste management, and environmental monitoring, significantly improving operational efficiency and sustainability in the city-state. Ans in Australia, LoRa and LoRaWAN have been instrumental in deploying smart agriculture solutions for optimizing irrigation and crop management.

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Key Benefits of Buying the Report

The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the global LoRa and LoRaWAN IoT market and its sub segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market's pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.

Research Coverage

The market study covers the LoRa and LoRaWAN IoT market size across different segments. It aims at estimating the market size and the growth potential across different segments, including offerings (hardware, platforms, and services), application, end users and region. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.

This release was published on openPR.