LoRa LoRaWAN IoT Market

Growing demand for IoT applications is driving the market growth.

The increasing need for IoT applications is what propels IoT forward. With the emergence of the Internet of Things (IoT), an environment where objects have the ability to connect and interact through the web, a significant transition from the conventional Internet, which mostly serviced human-centric reasons, is made. The Internet of Things has several uses, notably in the field of intelligent water management systems. However, for these applications, sensor nodes must not only be extremely energy-efficient but also able to communicate across long distances.

Because of this need, several Low-Power Wide Area Network (LPWAN) technologies have been created, with LoRa standing out as a notable one that was created to address these particular requirements.

The IoT landscape has undergone a radical change as a result of LoRa devices' ability to transmit data across long distances with little power consumption. Sensors with LoRa chipsets demonstrate exceptional adaptability when included into a non-cellular LoRaWAN® network, enabling a wide range of IoT applications through the delivery of packets conveying crucial data. With widespread use and the potential to play a key role in connecting the next billion IoT devices, LoRa has emerged as the IoT technology of choice.

Including smart agriculture, smart cities, industrial IoT (IIoT), smart environmental monitoring, connected houses and buildings, intelligent utility and metering systems, as well as the optimization of supply chains and logistics, its adaptability extends to embrace both rural and indoor use cases.

In IoT applications, security is also a top consideration, especially when it comes to the transmission of sensitive data. End-to-end encryption and device authentication are just two of the powerful security features that LoRaWAN networks have available to protect the confidentiality and integrity of data. As the need for secure IoT applications grows, LoRaWAN's security features make it an attractive option.

The Global LoRa and LoRaWAN IoT Market Industry is projected to experience substantial growth in the coming years. With a market value expected to reach 9.04 USD Billion in 2024 and an impressive forecast of 275.1 USD Billion by 2035, the industry is on a trajectory of rapid expansion. The anticipated compound annual growth rate of 36.41% from 2025 to 2035 indicates a robust demand for LoRa and LoRaWAN technologies across various sectors. This growth is likely driven by the increasing adoption of IoT solutions in smart cities, industrial applications, and sustainability initiatives, positioning LoRa and LoRaWAN as pivotal technologies in the evolving digital landscape.

The Global LoRa and LoRaWAN IoT Market Industry is experiencing a surge in demand driven by the increasing focus on smart city initiatives. Governments worldwide are investing in infrastructure that integrates IoT technologies to enhance urban living. For instance, cities are deploying LoRaWAN for smart lighting, waste management, and traffic monitoring. This trend is expected to contribute significantly to the market, with projections indicating a market value of 9.04 USD Billion in 2024. As urban populations grow, the need for efficient resource management through IoT solutions becomes more pressing, thereby propelling the adoption of LoRa and LoRaWAN technologies.

The Global LoRa and LoRaWAN IoT Market Industry is increasingly influenced by a growing focus on sustainability. Organizations are adopting IoT solutions to monitor and reduce their environmental impact. For instance, smart waste management systems utilizing LoRaWAN can optimize collection routes, thereby minimizing fuel consumption and emissions. This trend aligns with global sustainability goals and corporate social responsibility initiatives. As businesses and governments prioritize eco-friendly practices, the demand for LoRa and LoRaWAN solutions that contribute to sustainability is likely to rise, further propelling market growth.

Government initiatives play a crucial role in the growth of the Global LoRa and LoRaWAN IoT Market Industry. Various countries are implementing policies and funding programs to promote the adoption of IoT technologies. For instance, initiatives aimed at enhancing rural connectivity through LoRaWAN are gaining traction, as they provide cost-effective solutions for remote monitoring. Such support not only fosters innovation but also encourages collaboration between public and private sectors. As governments recognize the potential of IoT in driving economic growth and improving public services, the market is likely to witness accelerated adoption of LoRa and LoRaWAN solutions.

The Global LoRa and LoRaWAN IoT Market Industry is benefiting from advancements in network infrastructure. The deployment of low-power wide-area networks (LPWAN) facilitates extensive coverage and connectivity for IoT devices. This infrastructure is particularly advantageous for applications requiring long-range communication with minimal power consumption. For example, smart meters and environmental sensors leverage LoRaWAN to transmit data over long distances without the need for frequent battery replacements. As network infrastructure continues to evolve, it is expected to enhance the scalability and reliability of IoT solutions, thereby driving further adoption of LoRa and LoRaWAN technologies.

The Global LoRa and LoRaWAN IoT Market Industry is poised for growth due to the expansion of Industrial IoT applications. Industries such as agriculture, manufacturing, and logistics are increasingly adopting LoRaWAN for real-time monitoring and data collection. For example, farmers utilize LoRa technology for precision agriculture, enabling them to monitor soil conditions and optimize water usage. This trend is indicative of a broader shift towards automation and efficiency in industrial processes. The market is projected to reach 275.1 USD Billion by 2035, reflecting a compound annual growth rate of 36.41% from 2025 to 2035, underscoring the potential of LoRa and LoRaWAN in transforming industrial operations.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America LoRa and LoRaWAN IoT Market dominated this market in 2022 (45.80%). This is due to the region's committed efforts to encourage innovation and wide-scale use of IoT technologies. Additionally, the continued development of LoRaWAN networks is probably going to promote the rise of this market. Further, the U.S. LoRa and LoRaWAN IoT market held the largest market share, and the Canada LoRa and LoRaWAN IoT market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: LORA AND LORAWAN IOT MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe LoRa and LoRaWAN IoT market accounts for the second-largest market share. This is a result of IoT solutions being adopted more frequently for uses including smart agriculture, environmental monitoring, and energy management. Further, the German LoRa and LoRaWAN IoT market held the largest market share, and the UK LoRa and LoRaWAN IoT market was the fastest growing market in the European region

The Asia-Pacific LoRa and LoRaWAN IoT market is expected to grow at the fastest CAGR from 2023 to 2032. This is a result of the region's growing urbanization and population. Moreover, China’s LoRa and LoRaWAN IoT market held the largest market share, and the Indian LoRa and LoRaWAN IoT market was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the LoRa and LoRaWAN IoT market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, LoRa and LoRaWAN IoT industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global LoRa and LoRaWAN IoT industry to benefit clients and increase the market sector. In recent years, the LoRa and LoRaWAN IoT industry has offered some of the most significant advantages to medicine.

Major players in the LoRa and LoRaWAN IoT market, including Cisco (US), NEC Corporation (Japan), Tata Communications (India), Semtech (US), Orange SA (France), Advantech (Taiwan), Comcast (US), AWS (US), Bosch (Germany), Murata (Japan), Laird Connectivity (US), Kerlink (France), Senet (US), Actility (France), Sensoterra (Netherlands), DIGI International (US), Nwave Technologies (UK), RAKwireless (China), thethings.io (Spain), Datacake (Germany), MultiTech (US), Milesight (China), LORAIOT (Switzerland), Exosite (US), OrbiWise (Switzerland) and others, are attempting to increase market demand by investing in research and development operations.

An important tech company with its headquarters in San Jose, Cisco Systems is known for producing a sizable chunk of the hardware that powers the operation of the Internet. Since its founding in 1984, Cisco has greatly increased the scope of its business by purchasing a number of profitable companies, including but not limited to Jabber, Webex, and Jasper. The business is divided into three main segments: Europe, the Middle East, and Africa (EMEA); the Americas; and Asia Pacific, Japan, and China (APJC). The corporation operates on a global scale and controls its activities by geographical regions.

In addition to Internet for the Future, Secure, Agile Networks, Collaboration, Optimized Application Experiences, End-to-End Security, and Other Products, Cisco's range of products and technologies can be divided into other groups. Cisco provides a wide range of services in addition to its product line, such as technical assistance and cutting-edge solutions.

The headquarters of NEC Corporation are located in Tokyo, Japan, and it was founded in 1899. The company offers a wide range of products in its product portfolio, including servers, network systems, telecommunications equipment, storage devices, automated teller machines, video broadcasting systems, personal computers, supercomputers, aerospace systems, tablet terminals, fire and disaster prevention systems, and different software solutions. NEC further sells electrical parts and goods such LCD screens, lithium-ion batteries, and lighting fixtures. 

NEC offers a wide range of services, including support, system integration, and outsourcing, in addition to its products. The firm serves a variety of markets, including those in the aerospace, aviation, healthcare, retail, agriculture, broadcasting, finance, logistics, government, manufacturing, hospitality, transportation, and telecommunications. With locations across the globe, including Europe, the Americas, the Middle East, Africa, and the Asia-Pacific area, NEC conducts business.