The global LoRaWAN® Market is witnessing growth and is expected to grow 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. However, LoRaWAN® is basically designed for wide range, low power communications and smart city applications that benefit from wireless battery-operated things and secure bi-directional communication, mobility and localization service. The factors that drive the growth of the global LoRaWAN® market is the growing demand of low power wide area network in IoT devices and smart cities, and a rise in the adoption of LoRaWAN® across various industry verticals like Utilities, Manufacturing, Healthcare, Logistics, etc. The LoRa networking gateways provide coverage in difficult-to-reach indoor locations. However, the long-range wireless gateway is an IoT platform that accompanies the LoRaWAN® infrastructure for use in buildings and homes. The private network is mainly deployed in smart buildings and homes. IoT technology is making it easier for buildings to save energy and improve their sustainability.
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The key players in the market offering LoRaWAN® are open network providers, device manufacturers and solution providers.
Key Developments/Recent News:
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.
Company Profiles & Competitive Intelligence:
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 major players operating in the market emphasis on new product development, product launches, and several other strategies such as mergers and acquisitions, in order to grab the attention of a greater number of customer attention.