LoRa gateway is a device that connects LoRa wireless radio devices to a network server. It receives data from LoRa enabled sensors and other IoT devices and forwards the data to a centralized network server. LoRa technology enables long range connectivity for IoT applications in various industries such as smart cities, smart homes, asset tracking, supply chain management, and industrial IoT. LoRa gateways support both unlicensed radio frequency bands including 433MHz, 868MHz (Europe), and 915MHz (North America).
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 Dynamics:
Increasing adoption of LoRa technology for IoT applications is a key driver for the growth of LoRa gateway market. IoT connections globally are estimated to reach over 25 billion by 2025 and the increasing demand for reliable and cost-effective long-range connectivity solutions is creating opportunities for LoRa network. Additionally, LoRa gateways also support low power wide area networks (LPWAN) which offers long battery life and supports large number of simultaneous connections in dense environments. These characteristics help in the growth of LPWAN and in turn the LoRa gateway market. Further, growing infrastructure development and deployment of smart cities projects worldwide is also driving the adoption of wireless connectivity solutions including LoRa for various applications such as smart metering, intelligent lighting solutions, parking management systems, etc. This
Segment Analysis
The LoRa gateway market is segmented into public and private gateways. The private gateway segment dominates the market as they are extensively used for industrial IoT applications where security and dedicated connectivity are the top priorities. Private gateways provide reliable and secure connectivity within the premises for industrial equipment and assets.
PEST Analysis
Political: Government initiatives to develop smart cities and support IoT infrastructure development are driving the LoRa gateway market growth.
Economic: Operational cost benefits of implementing IoT solutions and ability to optimize resource utilization is increasing LoRa gateway adoption across industries.
Social: Growing consumer preference for connected devices and infrastructure is fueling the demand for low-power networking technologies like LoRa.
Technological: LoRa technology provides long-range connectivity at low power and is enabling new IoT use cases across utilities, transportation, manufacturing etc.
Key Takeaways
The Global LoRa Gateway Market Growth is expected to witness high, exhibiting 30% CAGR over the forecast period, due to increasing adoption of industrial IoT applications. The market size is projected to reach US$ 27.5 Bn by 2030.
Regional analysis: North America dominates the LoRa gateway market currently due to large-scale smart city projects and industrial automation. Europe is also expanding rapidly driven by governmental support for IoT infrastructure development.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it