Global LoRaWAN Market- Segment Analysis, Opportunity Assessment, Competitive Intelligence, Industry Outlook 2016-2026

The global LoRaWAN® market is expected to grow at a CAGR of 47.2% during the forecast period. The LoRaWAN® architecture is primarily being 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 localization service. The demand for LoRaWAN® technology has increased in recent years due to the growing adoption of smart devices (IoT) in smart cities and smart home projects.

The increasing number of IoT/M2M applications leads to high demand for long-range connectivity solutions between devices that are less expensive and power efficient. To address the demand, there has been growing deployment of LPWAN technologies, including LoRaWAN®, NB-IoT, and LTE-M, offering a wide range of connectivity options to enterprises. This is further expected to propel the market growth over the coming years. The LoRaWAN® protocol is seeing rapid global deployment and adoption due to the technology’s inherent advantages for IoT applications like - low power consumption, long-range, high security, cost-effective, and easy deployment. For instance, LoRaWAN® is increasingly being adopted in China for large deployments in smart energy and utility applications.

The growing adoption of machine-to-machine communication devices due to low cost and less power consumption is expected to propel the low power wide area network market growth. 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® build standard public, 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.

This LoRaWAN® market report provides an analysis for the period from 2016 to 2026, where 2019 to 2026 is the forecast period with 2018 as the base year. This report on LoRaWAN® market covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market. An exclusive coverage has been provided for market drivers and challenges & opportunities for a country-level market in the respective regional segments. The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to the competitive landscape of the market and the recent strategies & products that will assist or affect the market in the coming years.

 Global LoRaWAN® Market Size, 2016-26

The global LoRaWAN® market has been segmented on the basis of deployment, hardware, application and end-user. Based on deployment, the market can be segmented into the public, private, and hybrid networks. By hardware, the LoRaWAN® market can be further segmented into end-point sensors, connectivity modules, and networking gateways. Based on applications, the market is segmented into asset tracking, smart metering, smart parking, smart waste management, smart building, and others. By end-use, the LoRaWAN® market can be segmented into agriculture, utilities, consumer electronics, healthcare, manufacturing, and others.

The public network segment is expected to hold the largest market share during the forecast period

The public network segment is the most attractive segment owing to its advantages such as open standard and long-range communications. In public network, operators are making investments to deploy country-wide networks and sell connectivity services to its customers. In May 2018, there were more than 76 LoRaWAN® public network operators in more than 100 countries. However, by the end of December 2018, the number increased to more than 100 public network operators. In addition to this, in South Africa, a company called Comsol has built the biggest IoT-dedicated network in Africa, which is named as Comsol IoT. It mainly covers the major South African cities.

The consumer electronics segment is expected to be the fastest-growing end-user during the forecast period

In consumer electronics, Semtech’s LoRa technology provides solutions that enable low-power and cost-effective smart home management. These products comprise a thermostat, HUB, a sprinkler, a door lock, and a smart outlet. In addition to these, LoRa wireless radio frequency technology (LoRa Technology) and devices support the indoor use cases of a smart home or building and provide long-range outdoor connectivity for all devices that are within the property limits.

Europe dominated the market in 2018 and is expected to dominate in the coming years as well

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.

In addition to this, LoRa technology helps in tracking cattle health and increase crop yields by providing long-range communications and by consuming less power. In 2018, farms in the Netherlands launched LoRa-based agriculture solutions based on the Senet network named Sensoterra. The network offers low-cost wireless probes, solar-powered gateways, and cloud-based proprietary software.

The Asia-Pacific region is projected to witness the fastest growth during the forecast period. Emerging economies such as India, China, and Japan, among others in the Asia Pacific, are focusing on building smart cities with the help of the LoRaWAN® technology.

The major players operating in the global LoRaWAN® market 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 among others. These players have stepped up new product innovations and new product launches, in order to gain more attention from customers. Additionally, the growth of the LoRaWAN® market can be attributed to geographical expansion, strategic mergers & acquisitions, and joint ventures & partnerships, which guarantee long-term sustenance in the market.

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