The global 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 gateways create long range networks by collecting LoRa enabled sensor data over a long range and forwarding it to a centralized network server. They allow data transmission from end devices over a long range of 10-15 km in rural areas and 2-5 km in urban areas.
Market key trends
The increasing adoption of LoRa technology in various industries for IoT applications is a major trend driving the growth of LoRa gateway market. LoRa gateway solutions help connect LoRa devices to cloud networks and enable transmission of critical data for applications across industries. Ongoing developments towards introducing LoRaWAN gateways with extended coverage and enhanced capabilities to support more IoT devices are also fueling adoption. Gateway providers are focusing on developing multi-radio gateways that support connectivity standards like LoRa, NB-IoT, LTE-M, Wi-Fi etc to offer higher flexibility.
Market key trends:
The Global Lora Gateway Market is witnessing growing adoption of LoRa technology for IoT applications across various industries. LoRa provides long-range connectivity solutions for IoT devices over a large geographical area with low power consumption. The increasing number of connected IoT devices globally is driving the need for low power wide area network (LPWAN) technologies like LoRa which can support a large number of devices. Furthermore, LoRa offers benefits like deep indoor penetration, bidirectional communication, geo-localization services and encrypted data transmission. Owing to these advantages, LoRa gateways that facilitate effective communication between IoT devices and the network are seeing rising demand.
SWOT Analysis
Strength: LoRa technology provides long range connectivity at low power consumption making it suitable for large scale IoT deployments.
Weakness: Limited data rates supported by LoRa may not be suitable for applications requiring high bandwidth.
Opportunity: Growing IoT industry and increasing need for connectivity of devices in applications across various sectors presents an opportunity for LoRa gateway providers.
Threats: Competition from other LPWAN technologies like NB-IoT and advent of 5G may hamper the growth of LoRa Gateway market.
Key Takeaways
The global LoRa Gateway market is expected to witness high growth, exhibiting CAGR of 30.% over the forecast period, due to increasing adoption of IoT solutions across industries. The market size for LoRa Gateway is estimated to reach US$ 1.02 Bn in 2023.
Regionally, North America is expected to dominate the LoRa Gateway market owing to widespread adoption of LoT and presence of major players. However, Asia Pacific is expected to grow at the fastest rate during the forecast period with China, Japan and India emerging as major markets.
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.
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