by LoRa Gateway Market is estimated to witness high growth owing to increasing adoption of IoT technology. LoRa gateway is a bridge device that connects LoRa wireless radio devices to a network server. It collects data from various LoRa-enabled sensors and end nodes and forwards it to a centralized network server. The growing use of smart city applications, infrastructure monitoring, industrial IoT, agriculture monitoring, and smart utility metering is fueling the demand for low power and long-range wireless communication gateways like LoRa.
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: 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.
Key opportunities: Growing investment in smart city projects is expected to offer significant growth opportunities for players operating in the Lora Gateway Market Regional. Also, increasing government initiatives for industrial automation will fuel the adoption of LoRa gateways across various industries.
Global expansion: Leading players are expanding their gateway portfolio and strengthening global distribution networks to capitalize on growth opportunities in emerging markets. Partnerships with telecom operators and system integrators are helping vendors penetrate regional markets.
Market drivers
The growing adoption of LoRaWAN technology for industrial IoT applications is a major market driver. LoRa offers long-range communication and low power consumption, making it suitable for industrial sensors, asset tracking, Smart metering, and building automation. Also, the ability of LoRa to connect hundreds of low-bitrate devices using a single gateway is increasing its popularity in smart city projects. Initiatives like smart transportation, smart lighting are propelling the demand for scalable and energy-efficient connectivity like LoRa.
PEST Analysis
Political: LoRa Gateway vendors have to comply with various regulations regarding radio frequencies,cyber security and data protection set by regulatory bodies like FCC and GDPR.
Economic: Slow economic growth in major markets like US and Europe leads to reduced IT spending and impacts gateway sales. However,emerging applications for IoT drive opportunities.
Social: Growing digitization and adoption of IoT solutions across industries fuels demand for infrastructure like LoRa gateways for connectivity. Concerns around data privacy and security need addressing.
Technological: The emergence of new standards like 5G and low-power wide-area networks may impact LoRa technology. However,LoRaWAN offers benefits like long range and low power consumption suitable for large-scale IoT deployments. Gateway providers focus on integrated solutions,EDGE computing support and modular architectures.
North America leads the LoRa Gateway market in terms of value owing to large-scale IoT initiatives and smart city projects. Major implementation is seen across verticals like logistics,manufacturing,smart buildings. Europe is another major regional market driven by initiatives boosting digital transformation of industries.
The Asia Pacific region is witnessing the fastest growth in the LoRa Gateway market driven by China,Japan and South Korea adopting IoT at scale. Increased government support for smart infrastructure and growing adoption across verticals like agriculture,energy and utilities offer opportunities. Countries like India are emerging markets with initiatives boosting digitization of sectors.
