The LoRa Gateway market plays a vital role in enabling long range connectivity between IoT devices and central network servers. LoRa gateways provide low power wide area connectivity for IoT devices over distances of 10-15 km in rural areas and 2-5 km in urban areas and support large-scale IoT deployments. LoRa gateways allow bidirectional communication with hundreds to thousands of LoRa nodes and receive data from battery-powered smart city sensors, smart utility meters, smart agriculture sensors and other IoT devices. LoRa gateways help to concentrate data from IoT devices and transmit to central network servers for analysis and actionable insights.
The Global LoRa Gateway Market is estimated to be valued at US$ 1.18 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the LoRa Gateway market are Pfizer Inc., Novartis International AG, Genentech, Inc., Active Biotech AB, Amgen Inc., Bayer AG, Cipla Limited, Hoffmann-La Roche AG, Bristol-Myers Squibb Company, Eisai Co., Ltd., and Exelixis, Inc. Growing urbanization and Industrial IoT adoption across various industries such as smart cities, utilities, logistics and transportation is fueling the demand for LoRa gateways globally. Major companies are expanding their LoRa gateway product portfolios and global presence to tap the opportunities in IoT applications across North America, Europe, Asia Pacific, Middle East and Africa.
Market key trends
One of the key trends observed in the Lora Gateway Market Demand is the Development of Multitechnology Gateways. Traditional LoRa gateways only support LoRaWAN protocol, however, new multitechnology gateways support multiple low power wide area technologies like LTE-M, NB-IoT, Sigfox along with LoRa. This allows the same gateway to be utilized across different network types providing flexibility to IoT solutions. Many tier 1 semiconductor companies are launching multitechology chipsets for gateways driving this trend.
Porter’s Analysis
Threat of new entrants: Low capital requirements however significant threat from global vendors with strong R&D capabilities.
Bargaining power of buyers: Buyers have medium to high bargaining power due to the presence of various options available at competitive prices.
Bargaining power of suppliers: Suppliers have medium bargaining power due to availability of components from various sources at competitive costs.
Threat of new substitutes: Moderate threat from alternate open source networks but LoRa overcomes long range capability limitations of other solutions.
Competitive rivalry: Intense due to presence of global and regional players fighting for market share.
Geographically, North America dominated the LoRa gateway market in 2021 owing to high adoption across various applications such as smart home automation, smart agriculture, asset tracking among others. The Asia Pacific region is expected to witness the highest growth during the forecast period attributed to ongoing smart city projects that require long range connectivity for IoT deployments.
Geographical Regions
North America accounted for the largest share of the global LoRa gateway market in 2021 with the US being the major contributor. This is attributed to higher technology adoption and presence of key vendors in the region. Additionally, applications such as smart home automation, smart metering are driving demand.
The Asia Pacific region is poised to witness the fastest growth during the forecast period attributed to ongoing smart infrastructure projects across countries such as China, Japan, South Korea and India that are increasing deployments of various IoT devices thereby propelling gateway demand. Governments investments towards smart city initiatives focusing on areas such as utilities management, transportation and public safety are supplementing regional market growth.