LoRa and LoRaWAN IOT Market Segmentation:
Offering Segment Analysis
The hardware segment in the LoRa and LoRaWAN IOT market is estimated to gain the largest revenue share of about 48% in the year 2035. The segment growth can be attributed to the components of hardware acting as the building blocks for constructing the infrastructure physically of LoRa and LoRaWAN networks. The components of this network include LoRa transceivers, sensors, gateways, and end devices which are important for ensuring low power and long-range communication between devices. The framework within which the entire IoT ecosystem is built is hardware.
Application Segment Analysis
The smart cities segment in the LoRa and LoRaWAN IOT market is estimated to gain a significant share of about 55% in the year 2035. Smart Cities segment comprises a wide range of IoT devices which includes environmental sensors, water quality motors, smart streetlights, and parking sensors. These different devices make urban operations sustainable and efficient. LoRa and LoRaWAN technology work as the backbone for communication by connecting IoT devices and sensors in huge numbers, these devices are installed in the whole city which progressively boosts the growth of the LoRa and LoRaWAN IOT market. According to a recent report published in 2021, around USD 20 trillion benefits will be generated after establishing smart cities by 2026.
Our in-depth analysis of the global LoRa and LoRaWAN IOT market includes the following segments:
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