LoRaWAN market analysis & technological innovation
The global LoRaWAN market is projected to reach $5557.2 million, growing at a very high CAGR of 47.2% during 2019 to 2027. LoRaWAN, mainly designed for wide range and low power communications to cater to smart city applications that benefit from wireless battery-operated things and secure bi-directional communication, mobility, and localisation service.
Top driving factors
- 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, organisations 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 City, Sensor-network, 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.
The LoRaWAN market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimisation, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.
The global LoRaWAN market has been segmented on the basis of deployment, hardware, application and end-user.
Huge application of LoRaWAN market based on different industry verticals, is segmented into:
- Asset tracking
- Smart metering
- Smart parking
- Smart waste management
- Smart building
The top end users, those get huge benefits through LoRaWAN market, can be segmented into:
- Consumer electronics
In terms of different regions, the market is classified into North America, Europe, Asia Pacific, and Middle East & Africa & Latin America. Europe dominated the market in 2018 and is anticipated to dominate the market in the coming years as well. This can be mainly attributed to the rapid adoption of smart agriculture in the region. Large scale macro-farms are getting replaced by family-owned micro-farms across Europe.
Some of the key players involved in the LoRaWAN market included in this study are Murata Manufacturing, LINK LABS, Microchip Technology, Laird Connectivity, Semtech, SK TELECOM, Orange S.A. Senet, Comcast among others.