LoRa and LoRaWAN IOT Market Share

North American Market Forecast

The North America LoRa and LoRaWAN IOT market is anticipated to hold the largest with a share of about 33% by the end of 2037. The market growth in the region is also expected on account of the technological advancements taking place in the region. North America has shown a rapid growth of IoT across the world, LoRa and LoRaWAN technology have gained a notable grip with a wide distribution of networks across different industries. LoRa and LoRaWAN are energy efficient and consume less power which helps the region to concentrate on green technologies. These technological advancements in the region have motivated technology providers to offer cost-effective and innovative solutions in the LoRa and LoRaWAN IoT markets. As per the recent report published in 2019 states that the USA LoRaWAN frequency spectrum has a total of 64 uplink channels that are available (125 kHz each) (channels 0-63) starting at 902.3 MHz which increases every 200 kHz up to 914.9 MHz.

European Market Analysis

Europe LoRa and LoRaWAN IOT market is estimated to be the second largest, registering a share of about 25% by the end of 2037. The market’s expansion can be attributed majorly to the substantial investments made in the IoT sector. This region has adopted IoT technology very early and invested in smart city initiatives, agriculture, and industrial automation. These investments resulted in the growth of LoRaWAN networks to support these applications. Moreover, regulatory frameworks that promote IoT technology and wireless communication were set up by different European countries as LoRa and LoRaWAN align well with the regulations. Various initiatives were launched by the European government such as funding for IoT projects to support the development and deployment of IoT technology.