The LoRa Gateway market is estimated to be valued at US$ 1.02 Bn in 2023 and is expected to exhibit a CAGR of 30.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
LoRa is a long-range, low power wireless platform that enables Internet of Things (IoT) applications such as smart agriculture, smart city, smart metering infrastructure monitoring etc. LoRa gateways acts as an intermediate between end devices like sensors and central network server. They allow bi-directional communication and establish secure long range connectivity for IoT devices.
Market Dynamics:
Rising adoption of IoT technologies across various industries is a major factor driving the growth of LoRa gateway market. IoT finds application in sectors like manufacturing, healthcare, agriculture and logistics where there is growing need for real time data monitoring and connectivity. Furthermore, LoRa helps overcome limitations of other connectivity options like Wi-Fi and Bluetooth by providing longer range at much lower power consumption. This makes it suitable for applications requiring connectivity in large outdoor areas.
Another key factor augmenting the market growth is the cost effectiveness of LoRa networks for large scale IoT deployments compared to cellular networks. LoRa offers ability to connect thousands of devices at much lower infrastructure and operational costs compared to cellular technologies like 4G LTE. Moreover, LoRa gateways facilitate easy installation, management and upgrading of centralized LoRa networks. They enable better control, help optimize large-scale deployments and ensure devices work within the network coverage area.
SWOT Analysis
Strength: LoRa gateways provide long range connectivity and low power wide area network (LPWAN) capabilities. The technology enables IoT communication over longer distances using lower power batteries. It supports wireless communication between connected devices over a long range under varying weather conditions.
Weakness: LoRa technology has some limitations on data rates as it can support maximum transmission rates of only 50 kbps. Also, setup and deployment of LoRa gateway infrastructure requires high initial costs.
Opportunity: Growing adoption of IoT solutions across various industries presents an opportunity for higher sales of LoRa gateways. Areas such as smart agriculture, smart cities, and industrial IoT are increasingly relying on wireless connectivity to deploy more sensors and devices for remote monitoring applications.
Threats: The emergence of competing LPWAN technologies such as NB-IoT and Sigfox poses a threat to LoRa’s market dominance. Connectivity standards are rapidly evolving and newer platforms may offer performance advantages over LoRa in the future.
Key Takeaways
The Global Lora Gateway Market is expected to witness high growth, exhibiting CAGR of 30% over the forecast period, due to increasing demand for low power wide area network connectivity solutions across industries. The market size for LoRa Gateway is estimated to reach US$ 26.24 Bn by 2030.
Regional analysis
North America is currently the dominant region for LoRa Gateway Market and is expected to maintain its leading position throughout the forecast period. This can be attributed to large-scale adoption of IoT-based applications across sectors such as smart manufacturing, logistics and transportation in the region. The Asia Pacific market is slated to be the fastest growing regional market exhibiting a CAGR of over 35% driven by rising IoT infrastructure development in China, India and other developing countries.
Key players
Key players operating in the LoRa Gateway Market are Semtech Corporation, Cisco Systems Inc., Huawei Technologies Co. Ltd., Comcast Corporation, Hewlett Packard Enterprise, NETGEAR Inc., TEKTELIC Communications Inc., Kerlink, Embit S.R.L., IMST GmbH, Aaeon Technology Inc, Laird Connectivity, Multi-Tech Systems Inc., Loriot SAS, Link Labs Inc., Senet Inc., WI-SUN Alliance, Actility S.A., The Things Industries B.V., Libelium Comunicaciones Distribuidas S.L. The market is witnessing significant investments by these players to develop more innovative LoRa gateway solutions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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