What are the latest figures on the lora and lorawan internet of things market’s size and projected CAGR?
The LoRa And LoRaWAN internet of things market size has grown exponentially in recent years. It will grow from $8.06 $ billion in 2024 to $10.98 $ billion in 2025 at a compound annual growth rate (CAGR) of 36.3%. The growth in the historic period can be attributed to early development and standardization, the rising interest in internet of things applications, low power consumption, scalability and cost-effectiveness, and low-power communication technologies capable of covering large areas.
The LoRa And LoRaWAN internet of things market size is expected to see exponential growth in the next few years. It will grow to $37.6 $ billion in 2029 at a compound annual growth rate (CAGR) of 36.0%. The growth in the forecast period can be attributed to urbanization, development of smart cities, waste management, government initiatives and favorable regulations, and growing demand for real-time data. Major trends in the forecast period include technological advancements, regional expansion, partnerships and ecosystem development, smart agriculture, and integration with other technologies.
Get Your Free Sample of The Global LoRa And LoRaWAN Internet Of Things Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=19554&type=smp
Which Market drivers have played a significant role in driving the lora and lorawan internet of things market?
The increase in the number of connected devices is expected to propel the growth of the LoRa and LoRaWAN internet of things market going forward. Connected devices are physical objects linked to a network, enabling them to collect, exchange, and act on data. Connected devices are rising due to several reasons, including improvements in wireless communication, cost reduction, industrial adoption, and improved security and privacy. LoRa and LoRaWAN enable long-range, low-power communication in internet of things (IoT) connected devices, facilitating efficient data transmission across wide areas. For instance, in 2023, according to a report published by Ericsson, a Sweden-based telecommunications company, total IoT connections reached 15.7 billion connections in 2023 and are expected to increase by 16% to 38.8 billion connections by 2029. Therefore, the increase in the number of connected devices is driving the growth of the LoRa and LoRaWAN internet of things market.
What are the key segments within the lora and lorawan internet of things market?
The LoRa And LoRaWAN internet of thingsmarket covered in this report is segmented –
1) By Offering: Hardware, Platforms, Services
2) By Network Deployment: Public Network, Private Network, Hybrid Network
3) By Application: Asset Tracking, Industrial Internet Of Things, Smart Cities, Smart Buildings, Smart Utilities, Smart Healthcare, Smart Agriculture And Livestock Management, Other Applications
4) By End User: Manufacturing, Transportation And Logistics, Energy And Utilities, Agriculture, Government And Public Safety, Healthcare, Retail, Residential, Other End Users
Subsegments:
1) By Hardware: LoRa Modules, End Devices, Gateways, Antennas
2) By Platforms: Network Management Platforms, Application Development Platforms, Analytics Platforms, Security Platforms
3) By Services: Network Deployment Services, Consulting Services, Managed Services, Training and Support Services
Order your report now for swift delivery
Which key players are shaping the lora and lorawan internet of things market?
Major companies operating in the LoRa And LoRaWAN internet of things market are Comcast Corporation, Amazon Web Services Inc., Cisco Systems Inc., Orange SA, NEC Corporation, SK Telecom, Murata Manufacturing Co. Ltd., Advantech Co. Ltd., Tata Communications Limited, Semtech Corporation, Digi International, Multi-Tech Systems Inc., Exosite, Kerlink, Actility SA, RAKwireless, Milesight Technology, Orbiwise SA, Datacake, LORIOT AG, Radio Bridge Inc., Sensoterra, TheThings.io, Netmore Group
Which transformative trends will shape the lora and lorawan internet of things market landscape?
Major companies operating in the LoRa and LoRaWAN internet of things market are focusing on developing innovative solutions, such as advanced LoRaWAN connectivity solutions, to provide a secure, scalable, and simplified end-to-end solution. Long-range wide-area network (LoRaWAN) connectivity solutions provide low-power, wide-area network communication for Internet of Things (IoT) devices, enabling long-range transmission of small amounts of data with minimal energy consumption. For instance, in June 2024, Digi International Inc., a US-based internet of things company, launched the Digi XBee IoT Solution for LoRaWAN, designed for rapid deployment and scalability in IoT applications. The solution is intended for seamless integration, enabling quick and scalable Internet of Things deployments. By minimizing the complexities of managing multiple vendor devices, it offers dependable, long-term support. This launch reflects Digi’s commitment to addressing industry challenges and propelling IoT innovation forward.
How do regional factors impact the lora and lorawan internet of things market, and which region is the largest contributor?
North America was the largest region in the LoRa And LoRaWAN internet of things market in 2024. The regions covered in the LoRa And LoRaWAN internet of things market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The LoRa And LoRaWAN Internet Of Things Market Report 2025 Offer?
The lora and lorawan internet of things market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Long-range (LoRa) and long-range wide-area network (LoRaWAN) internet of things (IoT) refer to a low-power, long-range wireless communication protocol and its network architecture, designed for connecting battery-operated devices in IoT applications across vast distances. These are primarily used for deploying smart sensors and devices in applications such as smart cities, agriculture, industrial monitoring, and environmental sensing, enabling efficient data transmission over large areas with minimal power consumption.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=19554
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
