LoRa gateways act as intermediaries between LoRa end-devices and a network server allowing long-range data transmission at low power consumption. They receive messages from end-devices using LoRa and forward them over standard IP networks to application servers, where data is aggregated and processed.
LoRa gateways are utilized by various industries for applications such as smart agriculture, smart cities, industrial IoT, asset tracking etc. They allow for low power wide area connectivity and facilitate data acquisition from geographically distributed devices.
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:
One of the major trends driving this market’s growth is the significant cost and power savings offered by LoRaWAN networks compared to legacy cellular technologies. LoRa gateways consume minimal energy and have lower deployment and maintenance costs which makes them an attractive solution for large-scale IoT deployments. Additionally, increasing government initiatives for smart city development programs worldwide are also fueling the adoption of LoRa gateways in applications such as water & power grid management, waste management and environmental monitoring.
Segment Analysis
The global LoRa gateway market is segmented into hardware, services, verticals. The hardware segment dominates the market, owing to increasing adoption of LoRa gateway devices for IoT connectivity across various industry verticals. Hardware segment is further divided into outdoor gateway and indoor gateway. Outdoor gateway sub-segment dominates the market due to wider coverage area provided by outdoor LoRa gateways.
Key Takeaways
The Global LoRa Gateway Market Demand is expected to witness high growth, exhibiting CAGR of 30% over the forecast period, due to increasing adoption of IoT devices across various industrial sectors.
Regional analysis
North America region is expected to dominate the LoRa gateway market, owing to heavy investments in IoT infrastructure and presence of major players in the US and Canada. Asia Pacific region is expected to grow at the fastest rate during the forecast period, due to massive IoT implementation across manufacturing, healthcare, retail and agriculture industries in China and India.
Key players analysis
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 adoption of LoRa technology.
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