The rapid expansion of IoT and the growth in demand for smart devices are among factors that are driving the LoRa gateway module (long range wireless network technology) market. Moreover, the adoption of advanced and innovative technologies associated with LoRa gateway modules is also expected to create potential growth opportunities for the LoRa gateway module market over the ten years to 2028..
Increasing penetration of IoT is boosting awareness about the advantages associated with the implementation of the same among end-users, which, as a result, is expected to positively impact the LoRa gateway module market. Moreover, the expanding cellular IoT and increasing advent of 5G are also among factors boosting the demand for LoRa gateway modules. In addition, the increasing number of smart city projects and the increasing penetration of smart devices are driving the LoRa gateway module market.
The adoption of LoRa gateway modules in the manufacturing industry is increasing due to the increasing demand for automation in manufacturing industries and the rising trend of Industry 4.0. Continuous investments by various countries in the automation of industrial infrastructure and the fulfilment of the current connectivity solutions for industries have encouraged vendors around the globe to focus on offering cellular connectivity with completely new concepts provided by new providers and alliances, which include LoRa. The demand for LoRa gateway module is thus observing a constant rise at a rapid pace, particularly across the manufacturing industry sectors.
The global LoRa gateway module market is likely to record a total incremental opportunity of more than $3 billion during the forecast period of 2018 to 2028.
North America and Europe are among the largest markets in the global LoRa gateway module market owing to the presence of various key players and the early adoption of advanced technologies pertaining to LoRa gateway modules. Moreover, the rapid expansion of the IoT market and high government spending for LoRa technology are also among factors propelling the LoRa gateway module market.
The LoRa gateway module markets in East Asia and South Asia are expected to witness growth with a significant CAGR during the forecast period owing to the rising penetration of smart devices and increasing digitalization in various countries of the region. Furthermore, the increasing adoption of advanced technologies for smart agriculture and smart city applications is creating potential growth opportunities for the LoRa gateway module market.
Moreover, a continuous increase in the number of companies providing LoRa gateway modules and technology in the countries of East and South Asia is expected to positively influence the growth of the LoRa gateway module market during the forecast period.
Some of the key players covered in the global LoRa gateway module market includes Semtech, Shenzhen Rakwireless Technology, Microchip, Multi-Tech Systems, Murata, Libelium, Laird Technologies and HOPE Microelectronics..
These LoRa gateway module providers tend to be focusing on offering advanced products and following the strategy of entering into partnerships and collaborations with M2M and IoT device providers to offer advanced LoRa gateway modules and to reach new growth markets in the next few years.
