LoRaWAN Market Growth Potential & Forecast, 2032

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LoRaWAN Market Share, Trend Growth Forecast to
2032
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• Industry Insights

• LoRaWAN Market is poised to depict strong growth
  during 2023-2032 owing to several benefits
  offered by the technology for supply chain
  management, such as the ability to track and
  monitor expensive goods in real-time and provide
  real-time data for effective inventory
  management. In addition, the technology can also
  be used for tracking the efficiency of industrial
  machinery, enabling predictive maintenance,
  minimizing downtime, and increasing process
  efficiency and cost savings.
• Based on the component, the service segment is
  anticipated to generate over USD 10 billion in
  revenue. LoRaWAN defines the communication
  protocol and system architecture for the network.
  Besides, multiple LoRaWAN-based IoT services can
  be implemented in an office building to control
  air conditioners and heating systems, lighting,
  security, and IoT applications.

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• Considering the deployment model, the private
  deployment segment will depict over 40 CAGR
  through 2032. The segmental growth can be
  credited to the rising demand for a high degree
  of control over IoT networks, which assists
  organizations in customizing network
  infrastructure as per specific business
  requirements. This model is specifically relevant
  for organizations that need high data privacy.
• By application, the asset tracking segment is
  poised to grow in the coming years. Constantly
  rising demand for LoRaWAN technology in assets
  tracking applications, given its ability to
  assist in tracking valuable assets will support
  the segment expansion. Assets tracking software
  also improves operational efficiency, lowers the
  risk of theft or loss, and offers a better
  customer experience.
• In terms of end-use, the government and public
  sector segment will be valued at over USD 8
  billion by 2032. LoRaWAN has been proven to be
  the best technology, enabling smart cities that
  combine ICT IoT for smooth operations
  services. In addition, increasing deployment of
  LoRaWAN technology by the various government
  organizations and public sector companies will
  positively favor the segment expansion.

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• Regional Analysis

Asia Pacific LoRaWAN industry is estimated to
grow at 40 CAGR during 2023-2032. Increasing
focus on reducing the overall cost of IT
infrastructure by enterprises experiencing
sustained growth due to stable economic growth in
major economies, including Japan, China, and
India, will positively stimulate the regional
market growth.

• Competitive Analysis

• Orange, KPN, Cisco System Inc., Everynet,
  Kerlink, LORIOT AG, Microchip Technology Inc.,
  Meshed, TEKTELIC Communications Inc., National
  Narrowband Network Co. (NNNCo.), and Worldsensing

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