LoRa and LoRaWAN IoT Market by Offering (Hardware, Platforms, Services), Application (Industrial IoT, Smart Cities, Asset Tracking), End User (Manufacturing, Retail, Energy & Utilities), Network Deployment and Region - Global Forecast to 2029

LoRa and LoRaWAN IoT Market by Offering (Hardware, Platforms, Services), Application (Industrial IoT, Smart Cities, Asset Tracking), End User (Manufacturing, Retail, Energy & Utilities), Network Deployment and Region - Global Forecast to 2029

The LoRa and LoRaWAN IoT market is projected to grow from USD 8.0 billion in 2024 to USD 32.7 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 32.4%. Integration of LoRaWAN with other wireless technologies such as cellular, Wi-Fi, and Bluetooth facilitates the creation of hybrid IoT solutions that capitalize on the unique strengths of each technology. For instance, cellular connectivity offers broad coverage and high bandwidth suitable for applications requiring real-time data transmission over long distances or in urban environments where LoRa signals may face interference. Wi-Fi, on the other hand, provides high-speed data transfer within shorter ranges, making it ideal for local data aggregation and high-throughput applications in environments with existing Wi-Fi infrastructure. Additionally, Bluetooth enables short-range communication between devices, facilitating proximity-based interactions and device-to-device connectivity in scenarios such as asset tracking or indoor navigation. By seamlessly integrating these technologies with LoRaWAN, organizations can design flexible and adaptable IoT deployments capable of meeting diverse connectivity requirements and addressing a wide range of application scenarios, from smart cities and industrial automation to healthcare and retail. This hybrid approach maximizes the benefits of each technology while offering scalability, reliability, and interoperability across the IoT ecosystem.

“The manufacturing segment is expected to hold the largest market size during the forecast period.” LoRaWAN emerges as a game-changer in manufacturing by facilitating advanced asset tracking and management systems. By deploying LoRa-enabled sensors and devices, manufacturers gain real-time insights into the location, status, and condition of their equipment, tools, and inventory. This level of visibility enables proactive decision-making, as manufacturers can promptly identify potential issues, such as equipment malfunctions or inventory shortages before they escalate into costly problems. By leveraging LoRaWAN for asset tracking and management, manufacturers enhance asset utilization, optimize production schedules, and minimize downtime, ultimately driving significant cost savings and operational efficiency gains. Moreover, the seamless integration of LoRaWAN into existing manufacturing infrastructure ensures scalability and interoperability, allowing manufacturers to future-proof their operations and adapt to evolving business needs with ease. As a result, the adoption of LoRaWAN in the manufacturing sector not only revolutionizes asset management practices but also paves the way for transformative efficiency improvements and competitive advantages in the market..

“The smart healthcare segment to register the fastest growth rate during the forecast period.” The concept of smart healthcare, particularly within the framework of smart hospitals, involves the seamless integration of various IoT technologies to enhance both hospital operations and patient care. LoRaWAN is a pivotal enabler of these smart hospital solutions, offering robust support for a range of applications that improve efficiency and patient experience. For instance, smart lighting systems connected via LoRaWAN can adjust automatically based on occupancy and natural light, optimizing energy usage and creating a comfortable environment for patients and staff. Similarly, HVAC systems can be intelligently managed to maintain ideal temperature and air quality, ensuring a healthy and safe environment while reducing operational costs. Additionally, automated patient check-in processes facilitated by LoRaWAN improve the flow of patients through the hospital, reducing wait times and administrative burdens. By supporting these and other advanced applications, LoRaWAN plays a crucial role in realizing the full potential of smart healthcare, ultimately leading to more efficient hospital management and better patient outcomes.

“Asia Pacific's highest growth rate during the forecast period.”

In the Asia Pacific region, adopting LoRa and LoRaWAN IoT technologies is being significantly bolstered by governmental initiatives and robust telecommunications infrastructure. Programs like India’s Digital India initiative and Japan’s Society 5.0 emphasize the pivotal role of IoT in digital transformation, promoting favorable policies, subsidies, and investments in infrastructure. LoRaWAN is crucial in monitoring infrastructure health, such as bridges, tunnels, and buildings in rapidly developing nations like China and India, with sensors detecting structural weaknesses and vibrations to enable preventive maintenance and ensure public safety. Additionally, the strong telecommunications infrastructure across many Asia Pacific countries facilitates the widespread deployment of LoRaWAN networks. Telecom operators are increasingly offering LoRaWAN-based IoT services, expanding coverage, and supporting a diverse range of applications, thereby driving the region’s IoT innovation and efficiency.

In-depth interviews have been conducted with chief executive officers (CEOs), Directors, and other executives from various key organizations operating in the LoRa and LoRaWAN IoT market.

By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%

By Designation: C-level –35%, D-level – 25%, and Others – 40%

By Region: North America – 30%, Europe – 30%, Asia Pacific – 25%, Latin America- 5%, and Middle East & Africa – 10%,

The major players in the LoRa and LoRaWAN IoT market The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their LoRa and LoRaWAN IoT market footprint.

Research Coverage

The market study covers the LoRa and LoRaWAN IoT market size across different segments. It aims at estimating the market size and the growth potential across different segments, including by offering (hardware, platform, services), by network deployemntn type (public Network, private network, hybrid Network), end user (manufacturing, transportation & logistics ,energy & utilities, agriculture, government & public safety, retail, residential, other end users) by application (asset tracking,industrial iot smart cities smart buildings smart utilities smart healthcare smart agriculture and livestock management, other applications) and Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America). The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.

Key Benefits of Buying the Report

The report will help market leaders and new entrants with information on the closest approximations of the global LoRa and LoRaWAN IoT market’s revenue numbers and subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market’s pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

1. Analysis of key drivers (rising demand for low-power, long-range, wide-area network connectivity, advancements in iot technologies, increasing focus on cost efficiency), restraints (interoperability issues, high initial deployment costs), opportunities (increasing smart city initiatives worldwide, integration with 5g), and challenges (lack of governance , technical complexity ) influencing the growth of the LoRa and LoRaWAN IoT market.

2. Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the LoRa and LoRaWAN IoT market.

3. Market Development: Comprehensive information about lucrative markets – the report analyses the LoRa and LoRaWAN IoT market across various regions.

4. Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the LoRa and LoRaWAN IoT market.

Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corp. (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), Rakwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), Loriot (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), Radio Bridge Inc (US), Laird Connectivity (US).