The LoRa Gateway market is witnessing substantial growth owing to the rising adoption of Internet of Things (IoT) technology across various application areas including industrial automation, smart cities, healthcare, and building automation globally. LoRa gateways play a crucial role in connecting IoT devices to the internet or a private network. They receive data from multiple LoRa-enabled sensors and transmit the collected data to a central network server. LoRa gateways support IoT applications that require low power consumption, long-range communication and large-scale deployment of wireless sensors. With the growing penetration of IoT, there is an increasing demand for gateways that can efficiently handle a massive amount of data and provide wide-area connectivity for IoT devices. The seamless connectivity provided by LoRa gateways helps expand IoT solutions into new applications.
The Global LoRa Gateway Market is estimated to be valued at US$ 1.18 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the LoRa Gateway market are Pfizer Inc., Novartis International AG, Genentech, Inc., Active Biotech AB, Amgen Inc., Bayer AG, Cipla Limited, Hoffmann-La Roche AG, Bristol-Myers Squibb Company, Eisai Co., Ltd., and Exelixis, Inc. The growing number of connected devices worldwide is fueling the demand for efficient and affordable communication solutions like LoRa gateways. LoRa gateways enable large-scale IoT deployments for various applications by facilitating communication between IoT devices and central networks. Major companies are focusing on expanding their global footprint to tap the growth opportunities in emerging markets.
Growing demand in industrial and commercial sectors for critical infrastructure monitoring and automation is a key factor boosting the adoption of LoRa Gateways Market demand. Industries are increasingly deploying wireless sensor networks connected through LoRa gateways to optimize business processes. The ability of LoRa gateways to support large-scale and long-range IoT projects makes them suitable for smart city initiatives focused on utilities management, public safety, transportation etc.
The rising penetration of LoRa technology and increasing awareness about its benefits over traditional communication protocols are enhancing the global uptake of LoRa gateways. Leading manufacturers are launching innovative gateway models with advanced features to strengthen their market position. Strategic partnerships between LoRa gateway providers and technology companies are also helping expand geographical presence.
Market drivers
The growing need for remote asset monitoring and management across various industries is a major driver for the LoRa gateway market. LoRa gateways provide reliable connectivity for wireless sensors deployed over large areas for applications like smart agriculture, fleet management, infrastructure surveillance etc. The emphasis on development of smart infrastructure globally and implementation of technologies like LoRA for efficient resource utilization is expected to further propel the demand for LoRa gateways during the forecast period.
Geopolitical situation influencing LoRa gateway market growth
The LoRa gateway market is facing considerable challenges due to the ongoing geopolitical conflicts and trade wars globally. Manufacturing and supply chain disruptions caused by tensions between major economies like US and China are impacting the availability of key components. Rising raw material costs and component shortages due to trade restrictions have increased the overall procurement expenses for gateway manufacturers. Furthermore, sanctions imposed on certain countries has limited international business expansion opportunities for players in this industry. The market is also experiencing delayed 5G infrastructure rollouts in some regions owing to security concerns raised by superpowers. Looking ahead, gateway vendors will need to diversify their supplier base, localize production wherever possible and develop alternative supply chain routes to mitigate impacts of future trade disputes or geo-strategic issues. Gateway manufacturers will also have to focus on technological innovation to cope with restrictions on hardware exports and collaborate more closely with local partners in different markets.
Fastest growing region for LoRa gateway market
The Asia Pacific region, especially China, is expected to witness the fastest growth in the LoRa gateway market over the coming years. This is attributed to rapid urbanization, growing smart city initiatives and increasing focus on industrial automation across developing nations in the region. Countries like India, Indonesia and Vietnam are undertaking various infrastructure projects involving implementation of IoT networks for applications like utility meters, logistics tracking and precision agriculture. Additionally, supportive government policies and availability of skilled workforce at competitive costs makes Asia Pacific an attractive manufacturing destination for gateway OEMs. Multiple companies have set up local R&D and production centers in the region to cater to the burgeoning demand from key verticals like manufacturing, transportation and energy management where LoRa technology solutions are finding wider adoption.
Geographical concentration of LoRa gateway market value
Currently, North America accounts for the largest share of the global LoRa gateway market value primarily driven by substantial deployments across the US. Strong presence of industrial IoT vendors and major network operators is fueling use cases ranging from smart infrastructure to supply chain visibility. However, Europe is emerging as another prominent revenue generator for LoRa gateway suppliers, particularly in Western European countries. This is attributed to large-scale pilot projects and commercial rollouts of LoRaWAN networks by telecom carriers to support a diverse set of mission critical B2B applications across major industry verticals. Some of the primary application areas driving gateway sales in Europe includes smart metering, asset tracking, warehousing, industrial automation and environment monitoring.
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