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.
Get More Insights On Lora Gateway Market