by A LoRa gateway acts as an interface between LPWAN networks using the LoRa technology and IP networks. They receive messages from end devices and forward them to a central network server. This enables long-range communication for applications in areas like smart cities, utilities, and agriculture.
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 key trends:
The increasing adoption of Internet of Things (IoT) in various industries is a major factor fueling the growth of the LoRa gateway market. IoT connects physical objects with network connectivity and software to enable data collection and sharing. LoRaWAN is widely used in IoT applications owing to its long-range capabilities and low power consumption features.LoRa gateways provide scalable and efficient connectivity for rapidly growing IoT networks. Their ability to seamlessly integrate diverse applications is also boosting their demand.
SWOT Analysis
Strength: LoRa gateways provide long range connectivity at low costs which makes them suitable for wide range of IoT applications. They have low power consumption which helps in extending battery life of connected devices.
Weakness: LoRa technology has limitations in terms of data rates and bandwidth. LoRa gateways have limited processing power for data aggregation and analytics capabilities.
Opportunity: Increasing adoption of IoT solutions across various industries such as manufacturing, healthcare, agriculture etc is driving the demand for LoRa gateways. Various smart city projects also offer scope for integration of LoRa gateways.
Threats: Availability of competing LPWAN technologies like Sigfox and NB-IoT can pose threat to market dominance of LoRa. Security vulnerabilities of LoRaWAN protocol is also a challenge.
Key Takeaways
The Global LoRa Gateway Market Size is expected to witness high growth, exhibiting CAGR of 30% over the forecast period, due to increasing adoption of IoT solutions across various industries. Long range connectivity capabilities of LoRa gateways along with low power consumption makes it suitable for applications in smart manufacturing, asset tracking, smart metering etc.
Regional analysis: North America holds the largest market share currently however emerging economies of Asia Pacific region such as China, India are expected to offer lucrative growth opportunities owing to large investments in smart city projects. Government initiatives to modernize infrastructure will further propel the demand. Europe is also among the rapidly growing regional markets for LoRa gateways market led by countries like UK and Germany.
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. Major players are focused on development of innovative LoRa gateway solutions with cloud connectivity and data analytics capabilities to expand market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
