by 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 gateway serves as intermediaries between LoRa devices and a network server by receiving data from LoRa devices and forwarding it to the network server and vice versa, thus enabling long-range communication. LoRa gateways are used in applications that require cost-effective, long-range connectivity for Internet of Things (IoT) solutions across various sectors such as agriculture, retail, logistics and supply chain, and healthcare.
Market key trends
One of the key trends in the LoRa gateway market is the increasing adoption of LoRaWAN protocol which facilitates long-range communication at low bit rates between battery-operated devices over a wide area using gateways and centralized network servers. LoRaWAN enables better coverage area to connect more IoT devices and provides advanced security features. It is gaining acceptance in applications such as smart home automation systems, smart metering infrastructure, and supply chain solutions due to the long-range and low power benefits offered by the technology.
Segment Analysis
The global LoRa Gateway market is segmented by connectivity, deployment, applications and geography. By connectivity, the market is segmented into indoor and outdoor. The outdoor segment currently dominates the market as LoRa gateways are widely used for applications that require connectivity outside buildings and premises. By deployment, the market is divided into on-premise and cloud-based. The on-premise segment holds a larger market share owing to privacy and security concerns among end-users regarding sensitive data. Based on applications, the market is bifurcated into smart home automation, smart agricultures, industrial IoT, smart cities, asset tracking, and others. The industrial IoT application segment dominates due to increasing adoption of IoT solutions across industries.
Key Takeaways
The Global Lora Gateway Market is expected to witness high growth, exhibiting 30% CAGR over the forecast period, due to increasing adoption of IoT devices across industries.
Regional analysis – North America currently dominates the market owing to rapid technological advancement and presence of key players in the region. The Asia Pacific region is expected to grow at the fastest rate during the forecast period supported by growing IoT infrastructure development in emerging countries like China and India.
Key players – 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. Semtech Corporation holds the leading market share owing to its early prominence in LoRa technology.
The global LoRa Gateway market size for 2023 is US$ 1.02 Bn and is expected to grow exponentially reaching nearly US$ 26 Bn by 2030.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
