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LoRa & LoRaWAN IoT Market worth $28.28 billion by 2030, growing at a CAGR of 31.18% - Exclusive Report by 360iResearch
LoRa & LoRaWAN IoT Market | 360iResearch
The Global LoRa & LoRaWAN IoT Market to grow from USD 4.22 billion in 2023 to USD 28.28 billion by 2030, at a CAGR of 31.18%.
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LoRa is a wireless radio frequency technology developed for long-range communication with low power consumption. It employs a unique modulation scheme called Chirp Spread Spectrum (CSS), which allows devices to transmit data over large distances while minimizing energy consumption efficiently. LoRaWAN is an open protocol that builds upon the LoRa technology to provide a standardized architecture for IoT devices, enabling seamless integration of multiple networks under one ecosystem. The extensive use of IoT devices in agriculture, utilities, smart cities, logistics, and consumer electronics has greatly broadened the application spectrum of LoRa and LoRaWAN technologies. The driving factors behind the growth of LoRa and LoRaWAN IoT are the rising demand for low-power and long-range wide-area network connectivities coupled with emerging potential with the increasing concept of smart cities. Furthermore, government initiatives to expand the development of LoRa and LoRaWAN IoT significantly contributed to the expansion of the market. On the other hand, the high cost of LoRa and LoRaWAN IoT solutions and privacy and security concerns with LoRa and LoRaWAN IoT platforms pose a challenge to the global market expansion. However, the ongoing introduction of technologically advanced LoRa and LoRaWAN IoT platforms and rising amalgamation activities between market players to introduce LoRa and LoRaWAN IoT platforms create significant growth opportunities for the market in the coming years.
LoRa (Long Range) and LoRaWAN (Low-Power Wide-Area Network) technologies have been significantly adopted as critical enablers of the Internet of Things (IoT) across various regions worldwide. The United States and Canada are rapidly adopting IoT solutions using LoRa and LoRaWAN technologies due to their increasing smart city initiatives, advanced industrial infrastructure, and supportive government policies. There is a growing consumer need for cost-effective IoT-based agriculture, logistics, healthcare, and energy management applications. With rising urbanization, increasing government initiatives, and expanding industrial sectors, the demand for IoT connectivity solutions is on the rise in the APAC region. Moreover, the growing interest in edge computing and 5G networks has further accelerated the demand for advanced IoT solutions in the APAC region. The EMEA region has witnessed significant growth in adopting LoRa and LoRaWAN with the rise of Industry 4.0 and increasing penetration of IoT technologies across various verticals such as agriculture, utilities, logistics, transportation, and healthcare within EMEA countries. Developing economies, including the Middle East and Africa, are exploring opportunities offered by IoT technologies to strengthen their infrastructure capabilities while addressing vital challenges, such as water scarcity, transportation efficiency, and waste management. Middle Eastern countries are adopting these technologies rapidly in their oil & gas industries, while African nations focus on implementing remote monitoring systems for wildlife conservation and water management projects.
Market Segmentation & Coverage:
This research report categorizes the LoRa & LoRaWAN IoT Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Component, market is studied across Hardware, Services, and Software. The Hardware is further studied across Connectivity Modules, Networking Gateways, and System on Chip. The Services is projected to witness significant market share during forecast period.
Based on End-User, market is studied across Automotive, Chemical, Food & Beverages, Healthcare, IT & Telecommunication, Mining, Oil & Gas, and Power & Utilities. The Oil & Gas is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.55% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the LoRa & LoRaWAN IoT Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the LoRa & LoRaWAN IoT Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the LoRa & LoRaWAN IoT Market, highlighting leading vendors and their innovative profiles. These include Actility SA, Advantech Co., Ltd., Amazon Web Services, Inc., Bosch.IO GmbH, Cavagna Group S.p.A, Cisco Systems, Inc., Comcast Corporation, DATACAKE GmbH, Digi International Inc., Dipro Technologies S.L. by Shikumi Wakata S.L., Everynet BV, Exosite, kerlink SA, Laird Connectivity, LORIOT AG, Microchip Technology Inc., Milesight, Multi-Tech Systems, Inc., Murata Manufacturing Co., Ltd., NEC Corporation, Orange SA, OrbiWise SA, RAKwireless Technology Limited, Semtech Corporation, Senet, Inc., Sensoterra International B.V., and Swisscom AG.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. LoRa & LoRaWAN IoT Market, by Component
7. LoRa & LoRaWAN IoT Market, by End-User
8. Americas LoRa & LoRaWAN IoT Market
9. Asia-Pacific LoRa & LoRaWAN IoT Market
10. Europe, Middle East & Africa LoRa & LoRaWAN IoT Market
11. Competitive Landscape
12. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the LoRa & LoRaWAN IoT Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the LoRa & LoRaWAN IoT Market?
3. What is the competitive strategic window for opportunities in the LoRa & LoRaWAN IoT Market?
4. What are the technology trends and regulatory frameworks in the LoRa & LoRaWAN IoT Market?
5. What is the market share of the leading vendors in the LoRa & LoRaWAN IoT Market?
6. What modes and strategic moves are considered suitable for entering the LoRa & LoRaWAN IoT Market?
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