July 20, 2024
LoRa Gateway Market
Ict

The Lora Gateway Market Is Estimated To Witness High Growth Owing To Increased Adoption Of Iot And Growth In Smart City Projects

The 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.

Paragraph: The 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 Overview:
LoRa gateways enable long range and low power communication for IoT endpoints using LoRa technology. They act as an interface between IoT devices and cloud servers, enabling data transmission over long ranges of 10-15km in urban and 30-50km in rural areas. LoRa gateways play a vital role in connecting IoT sensors to cloud platforms for data collection and analysis.

Market key trends:
The growth of the LoRa gateway market is driven by growing adoption of LoRa wireless technologies for IoT solutions owing to its long range and low power capabilities. LoRa is widely being used for smart city applications such as smart parking, smart lighting, and waste management. Furthermore, increasing demand for remote asset monitoring in industries such as oil & gas, manufacturing is also fueling the adoption of LoRa gateways. Significant investments by governments worldwide in smart infrastructure development are enhancing the deployment of LoRa networks, thereby driving the LoRa gateway market growth over the forecast period.

Porter’s Analysis
Threat of new entrants: Global Lora Gateway Market has moderate threat of new entrants as it requires high initial capital investment for infrastructure and technology. However, the opportunity for profitability attracts new players.
Bargaining power of buyers: Buyers have moderate bargaining power as there are several suppliers in the market providing substitute products. However, switching costs for buyers are low.
Bargaining power of suppliers: The suppliers have moderate bargaining power due to availability of components from multiple sources. However, differentiated technologies give suppliers an edge over pricing negotiation.
Threat of new substitutes: Threat of substitutes is low as LoRa technology offers long range communication at low cost and is compatible with other technologies, making it difficult to replace.
Competitive rivalry: Firms compete on the basis of pricing, quality and technological innovation.

SWOT Analysis
Strength: LoRa technology provides long range communication at low power and enables asset tracking applications. Growing adoption of IoT applications boosts demand.
Weakness: Limited scalability and bandwidth of LoRa network. High initial investment requirement.
Opportunity: Growing smart city projects across regions demands connectivity solutions. Adoption in agriculture, logistics and healthcare verticals provide opportunities.
Threats: Stiff competition from other wireless technologies and interruptions from natural disasters affecting network connectivity pose threats.

Key Takeaways
The global LoRa Gateway Market is expected to witness high growth, exhibiting CAGR of 30.0% over the forecast period, due to increasing adoption of IoT solutions across industries. The market size for 2023 is estimated to be US$ 1.02 billion.

Regional analysis Europe dominates the market with highest adoption of smart city projects and highest concentration of key players. The Asia Pacific region is expected to grow at the fastest pace during the forecast period on account of expanding IoT infrastructure in China, Japan and India.

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. Major players are focusing on new product launches and partnerships with telecom operators for infrastructure development.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it