The global LoRaWAN Market was valued at US$ 610.3 Mn in 2018 and is projected to reach US$ 12,318.8 Mn by 2026, growing at a CAGR of 47.2% from 2019 to 2026. Low-Power Wide-Area Network (LPWAN) technology is a significant technology to fulfil the growing Smart City demands in buildings, environment monitoring, parking, street lighting, smart metering, fleet management and others. —
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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.
The key players in the market offering LoRaWANs are open network providers, device manufacturers and solution providers. The major players operating in the global LoRaWAN are Murata Manufacturing Co., Ltd., LINK LABS, Microchip Technology Inc., Laird Connectivity, Semtech Corporation, SK TELECOM CO., LTD., Orange S.A., Senet, Inc., Tata Communications Limited, Comcast Corporation among others.
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 public, private, and hybrid network. 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.
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LoRaWAN is primarily being adopted in smart cities as they provide long range, low power, secure, and GPS-free geolocation features. By connecting city services such as lighting, parking, waste removal, and more, cities can optimize the use of utilities and personnel to save time and money. Many companies are using LoRaWAN to develop smart cities. For instance, in June 2018, Semtech Corporation, has announced that Kiwi Technology Inc., a provider of comprehensive solutions and services for the Internet of Things (IoT), is dedicated to implementing Semtech’s LoRa devices and wireless radio frequency technology (LoRa Technology) to maximize energy resources and reduce operational costs in smart cities. This will enable the LoRa-based network to be more widely used in the Asian market, while further upgrading the industrial level of smart utilities.
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