Market Overview
LoRa
Data Transmission Terminal Market was valued at USD 1.8 billion in 2022 and is
estimated to reach a value of 3.8 billion by 2033, with a linear growth
behavior at a CAGR of 21.6% during the forecast period 2023-2033.
The
market is witnessing several key trends that are shaping its growth and
development. These trends reflect the evolving needs and preferences of
businesses and industries that utilize LoRa technology for data transmission.
Here are some key trends in the LoRa Data Transmission Terminal market:
Rapid Growth of IoT Applications:
The Internet of Things (IoT) continues to expand across various industries,
driving the demand for LoRa Data Transmission Terminals. LoRa technology's
long-range and low-power capabilities make it well-suited for a wide range of
IoT applications, including smart cities, agriculture, and industrial
automation.
Smart Cities and Infrastructure:
LoRa technology plays a crucial role in the development of smart cities and infrastructure.
It enables efficient management of utilities, street lighting, parking, and
environmental monitoring. The deployment of LoRaWAN networks in urban areas is
a growing trend.
Agriculture and Precision Farming:
The agriculture sector increasingly relies on IoT solutions for precision
farming. LoRa-based sensors and terminals help farmers monitor soil conditions,
crop health, and irrigation, leading to improved yields and resource
efficiency, which has garnered significant investment for LoRa data transmission
terminal market.
Industrial IoT (IIoT) Adoption:
Industries such as manufacturing, logistics, and utilities leverage LoRa
technology for IIoT applications. This includes asset tracking, predictive
maintenance, and remote monitoring of machinery and equipment.
Customized LoRa Modules:
Manufacturers are offering customized LoRa modules and solutions tailored to
specific industry needs. These modules often come with pre-configured firmware
and sensors, making it easier for businesses to deploy IoT solutions, thereby
boosting the growth of LoRa data transmission terminal market.
Battery Life Optimization:
Extending the battery life of LoRa devices remains a priority. Innovations in
energy-efficient hardware and firmware contribute to longer device lifespans,
reducing maintenance costs.
Hybrid Network Deployments:
Some industries are adopting hybrid networks that combine LoRaWAN with other
connectivity options like 5G and satellite communication. This approach
provides flexibility and ensures connectivity in diverse environments, thus
providing up thrust for LoRa data transmission terminal market.
Security Enhancements:
With the growing importance of IoT security, LoRaWAN networks are implementing
advanced security features to protect data transmission and device integrity.
Global LoRaWAN Standardization:
LoRa Alliance, the industry association promoting LoRa technology, continues to
work on global standardization efforts. Standardized solutions help drive
interoperability and ease of adoption.
These
key trends highlight the versatility and growth potential of the LoRa Data
Transmission Terminal market as it continues to address the evolving needs of
industries and businesses in the IoT era.
Market Scope
Report Attributes |
Description |
Market Size in 2023 |
USD
1,800 Million |
Market Forecast in 2033 |
USD 3,800
Million |
CAGR % 2023-2033 |
21.6% |
Base Year |
2022 |
Historic Data |
2016-2021 |
Forecast Period |
2023-2033 |
Report USP |
company
share, company heatmap, company production capacity, growth factors and more |
Growth Drivers |
Cost effectiveness of LoRA technology Growing demand from Smart Agriculture LoRa devices have low power consumption, allowing for long battery life in remote sensors and devices. This is crucial for applications where frequent battery replacement is impractical. |
Segments Covered |
Type, component,
application and end user |
Regional Scope |
North America, Europe, APAC, South
America and Middle East and Africa |
Country Scope |
U.S.; Canada;
U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia;
China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico;
Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies |
Microchip Technology, Kerlink, Circuit Design, Inc., Advantech Technology, Radiometrix, Four-Faith, Nemeus, Jinan USR IOT Technology, Chengdu Ebyte Electronic Technology, ICP DAS, REDZ Smart Communication
Technologies, NiceRF, ComWinTop, |
Market Dynamics
Cost-effective
infrastructure is a hallmark of LoRaWAN (Long Range Wide Area Network)
technology, making it a compelling choice for a wide range of Internet of
Things (IoT) applications. LoRaWAN's cost-effectiveness stems from several key
factors, collectively contributing to its appeal in industries and sectors
seeking efficient and budget-friendly IoT connectivity solutions.
One
of the primary drivers of cost-effectiveness in LoRaWAN is its low power
consumption. LoRaWAN devices, including sensors and endpoints, are designed to
operate on minimal power, enabling them to function for extended periods on
battery power alone. This characteristic eliminates the need for frequent
battery replacements, which can be a significant ongoing cost in IoT deployments,
thereby propelling the growth of LoRa data transmission terminal market.
Another
crucial advantage is the long-range connectivity provided by LoRa technology.
LoRaWAN-enabled devices can communicate over several kilometers without
requiring an extensive network of gateways or base stations. This results in
significant infrastructure cost savings, as fewer gateways are needed to cover
a wide area. LoRaWAN's focus on low data rates aligns with the requirements of
many IoT applications. In scenarios where high bandwidth is unnecessary, the
technology's efficient use of network resources minimizes infrastructure costs.
Moreover, the scalability of LoRaWAN networks ensures that the cost per device
decreases as the network expands to accommodate a large number of connected
devices.
Site
rental expenses are also reduced with LoRaWAN deployment. Gateways can be
installed on existing infrastructure, such as rooftops or utility poles,
mitigating the need for costly construction of cellular towers or dedicated
infrastructure.
Open
standards and interoperability are fundamental to LoRaWAN, allowing devices
from various manufacturers to function seamlessly within the same network. This
fosters competition in the LoRa data transmission terminal market, driving down
device costs and providing cost-conscious consumers with more options.
Additionally,
LoRaWAN's minimal data transmission costs result from the small size and
infrequent nature of data packets in many IoT applications. This feature is
particularly advantageous when compared to cellular data charges, which can be
cost-prohibitive for IoT deployments.
The
overall maintenance efficiency of LoRaWAN networks further contributes to their
cost-effectiveness. Low-power LoRa devices require fewer maintenance visits for
battery replacements, reducing ongoing operational expenses. Additionally,
LoRaWAN networks are designed with minimal maintenance requirements in mind. Furthermore,
regulatory support and spectrum allocation by many governments and regulatory
bodies eliminate the need for expensive spectrum licensing, further lowering
the entry barriers for LoRaWAN deployment.
In
essence, the cost-effective infrastructure offered by LoRaWAN technology
empowers businesses, municipalities, and organizations to implement diverse IoT
applications without the burden of exorbitant connectivity expenses. It aligns
financial prudence with the growing demand for IoT solutions, making LoRa data
transmission terminal market an increasingly attractive choice in the
ever-expanding landscape of IoT connectivity.
Type Analysis
Based
on type, the LoRa data transmission terminal market is segmented into LoRaWAN
Gateways, LoRa Sensors and Nodes, LoRa Modules, LoRa-Enabled Devices (e.g.,
Smart Meters, Asset Trackers), LoRa Development Kits. LoRawan gateways dominate
the market with an active share of 35.16% in 2022, owing to key trends that are
shaping the landscape of Internet of Things (IoT) connectivity. These trends
reflect the evolving needs and capabilities of IoT deployments and underscore the
significance of LoRaWAN gateways in enabling efficient and scalable IoT
solutions.
One
prominent trend is the growing demand for outdoor LoRaWAN gateways. As IoT
applications expand into various sectors, including agriculture, smart cities,
and industrial automation, the need for gateways that can withstand harsh
environmental conditions and provide extended coverage is on the rise. Outdoor
gateways are equipped to handle adverse weather, ensuring reliable connectivity
for outdoor IoT devices such as agricultural sensors and smart infrastructure.
Another
notable trend in the LoRa data transmission terminal market, is the integration
of multi-modulation capabilities into LoRaWAN gateways. This enhancement allows
gateways to support not only LoRa modulation but also other wireless
communication technologies like cellular or Wi-Fi. Multi-modulation gateways
provide flexibility and redundancy, enabling IoT networks to seamlessly switch
between different connectivity options based on factors like network availability
and cost-effectiveness.
End User Analysis
Based
on end user, the LoRa data transmission terminal market is segmented into
Agriculture, Smart Cities, Industrial IoT (IIoT), Healthcare, Transportation
and Logistics, Utilities, Environmental Monitoring, Retail, Others. Industrial
IoT accounts for the major share around 30.16% in 2022, backed by major key
trends such as The industrial Internet of Things (IoT) is rapidly evolving, and
within this landscape, LoRa data transmission terminals are witnessing key
trends that are reshaping the market. These trends reflect the growing demand
for efficient and scalable IoT solutions in industrial settings, where
reliability and connectivity are paramount.
One
significant trend is the increasing adoption of LoRa data transmission
terminals in industrial automation and monitoring applications. Industries such
as manufacturing, logistics, and agriculture are deploying LoRa-enabled sensors
and devices to collect data from remote or challenging environments. This trend
aligns with the industry's drive toward automation and data-driven
decision-making, where LoRaWAN technology offers the reliability and long-range
connectivity required.
LoRa
data transmission terminals are also seeing growing use in asset tracking and
management within industrial sectors. These terminals enable real-time tracking
of assets, equipment, and vehicles, providing valuable insights into asset
utilization and maintenance needs. As industries strive for operational
efficiency and cost reduction, asset tracking using LoRa technology becomes a
key enabler, thereby providing a smoother base for the overall LoRa data
transmission terminal market
Edge
computing capabilities integrated into LoRa data transmission terminals are
another notable trend. With the ability to process data at the edge of the
network, these terminals reduce latency and enable rapid decision-making. This
is particularly valuable in applications where immediate responses to data are
critical, such as predictive maintenance or safety monitoring in industrial
settings.
The
convergence of LoRaWAN technology with other connectivity options is gaining
momentum. LoRa data transmission terminals are being designed to support
multi-modulation capabilities, allowing seamless integration with cellular or
Wi-Fi networks. This trend enhances the versatility of IoT deployments,
enabling hybrid solutions that leverage the strengths of different connectivity
options.
Regional Analysis
Based
on the geographic scope, LoRa data transmission terminal market is segmented
into North America, Europe, APAC, South America and MEA. Asia
Pacific dominates the market with an active share of 35.1% in 2022. The
Asia Pacific (APAC) region is a dynamic and rapidly evolving market for LoRa
data transmission terminals, with several key trends and innovations shaping
its trajectory. These trends highlight the region's commitment to harnessing
IoT technologies for various applications and industries.
Smart Cities Initiatives:
APAC is at the forefront of smart city development, with many governments
investing in infrastructure and IoT solutions to improve urban living. LoRa
data transmission terminals are playing a pivotal role in smart city projects,
enabling applications such as smart lighting, waste management, and
environmental monitoring. The region's commitment to sustainability and urban
efficiency is driving the adoption of LoRa data transmission terminal market.
Agricultural IoT:
Agriculture is a cornerstone of many APAC economies, and IoT is revolutionizing
this sector. LoRa data transmission terminals are being used for precision
agriculture, enabling farmers to monitor soil conditions, weather, and crop
health remotely. Innovations in this space include the integration of LoRa
devices with drones for aerial data collection and analysis.
Industrial Automation:
APAC is home to a significant manufacturing sector, and industrial automation
is a key trend. LoRa data transmission terminals are being deployed for
real-time monitoring and control of industrial processes. Innovations include
edge computing capabilities that allow data processing at the factory floor,
reducing latency and enhancing automation efficiency thus boosting the LoRa
data transmission terminal market growth.
Asset Tracking:
Efficient supply chain management is crucial in the APAC region, and LoRa-based
asset tracking solutions are gaining prominence. From tracking shipping
containers in ports to monitoring the location of goods in transit, LoRa data
transmission terminals are helping businesses optimize their logistics
operations.
Environmental Monitoring:
Given the region's vulnerability to natural disasters and environmental
challenges, IoT-enabled environmental monitoring is a significant trend.
LoRaWAN technology is being used to monitor air and water quality, detect
earthquakes, and provide early warning systems for tsunamis and floods. These
innovations contribute to public safety and disaster preparedness.
Multi-Modal Connectivity:
To ensure robust and reliable IoT networks, APAC is witnessing the integration
of LoRaWAN with other connectivity options, such as cellular and satellite.
This multi-modal approach ensures seamless connectivity in diverse
environments, from densely populated cities to remote rural areas, thereby
enhancing the adoption of technology and fostering the growth of LoRa data
transmission terminal market
Low-Power Innovations:
Energy efficiency remains a focus in APAC, where remote and off-grid
applications are prevalent. Innovations in low-power LoRa data transmission terminals
are extending battery life and reducing maintenance costs. This is particularly
important in applications like remote agriculture and environmental monitoring.
Collaborative Ecosystems:
APAC countries are fostering collaborative ecosystems that bring together
technology providers, startups, government bodies, and research institutions.
These ecosystems are driving innovation in IoT solutions, including LoRa data
transmission terminals, by providing a platform for knowledge sharing and LoRa
data transmission terminal market development.
Security Enhancements:
As IoT adoption grows, so do concerns about cybersecurity. Innovations in
LoRaWAN security protocols and authentication mechanisms are addressing these
concerns, ensuring the integrity and confidentiality of data transmitted over
LoRa networks.
In
conclusion, the APAC region is witnessing a dynamic landscape in the LoRa data
transmission terminal market, driven by a wide range of applications and a
commitment to innovation. These trends reflect the region's diverse needs and
the transformative potential of IoT technologies in addressing societal,
environmental, and industrial challenges.
Competitive Analysis
Some
of the major companies operating within the LoRa data transmission terminal
market market are : Microchip Technology,
Kerlink, Circuit Design,
Inc., Advantech Technology, Radiometrix, Four-Faith, Nemeus,
Jinan USR IOT Technology,
Chengdu Ebyte Electronic Technology,
ICP DAS, REDZ Smart
Communication Technologies,
NiceRF, ComWinTop.
Below figure depicts the top 3 company’s share in LoRa data transmission terminal market in terms of value:
Source: We Market Research
Market Segmentation
By Type
·
LoRaWAN Gateways
·
LoRa Sensors and Nodes
·
LoRa Modules
·
LoRa-Enabled Devices
(e.g., Smart Meters, Asset Trackers)
·
LoRa Development Kits
By Application
·
Asset Tracking
·
Smart Agriculture
·
Smart Metering (Water,
Gas, Electricity)
·
Environmental Monitoring
·
Building Automation
·
Supply Chain Management
·
Smart Parking
·
Healthcare Monitoring
·
Industrial Automation
·
Security and Surveillance
·
Others
By End User
·
Agriculture
·
Smart Cities
·
Industrial IoT (IIoT)
·
Healthcare
·
Transportation and
Logistics
·
Utilities
·
Environmental Monitoring
·
Retail
·
Others
By Component
·
LoRa Chips
·
LoRa Antennas
·
Batteries
·
Enclosures
·
Other Hardware Components
1.
Global LoRa Data Transmission Terminal Market Introduction
and Market Overview
1.1. Objectives of the Study
1.2. Global LoRa Data
Transmission Terminal Market Scope and Market Estimation
1.2.1. Global LoRa Data
Transmission Terminal Overall Market Size, Revenue (US$ Mn), Market CAGR (%),
Market forecast (2023 - 2033)
1.2.2. Global LoRa Data
Transmission Terminal Market Revenue Share (%) and Growth Rate (Y-o-Y) from
2019 - 2033
1.3. Market Segmentation
1.3.1. Type of Global LoRa Data
Transmission Terminal Market
1.3.2. Component of Global LoRa
Data Transmission Terminal Market
1.3.3. Application of Global LoRa
Data Transmission Terminal Market
1.3.4. End User of Global LoRa
Data Transmission Terminal Market
1.3.5. Region of Global LoRa Data
Transmission Terminal Market
2.
Executive Summary
3.
Market Factor Analysis
3.1.
Global LoRa Data
Transmission Terminal Market Application Trends under COVID-19 Outbreak
3.1.1. Global COVID-19 Status
Overview
3.1.2. Influence of COVID-19
Outbreak on Global LoRa Data Transmission Terminal Market Application
Development
3.2.
Market Dynamics
3.2.1. Drivers
3.2.2. Limitations
3.2.3. Opportunities
3.2.4. Impact Analysis of Drivers
and Restraints
3.3.
Value Chain/ Ecosystem
Analysis
3.3.1. Manufacturers / Vendors
3.3.2. Distributors
3.3.3. Buyers / End-users
3.3.4. Forward Integration &
Backward Integration of Key Stakeholders
3.4.
Global LoRa Data Transmission
Terminal Market - Pricing Trends Analysis & Average Selling Prices (ASPs)
3.5.
Porter’s Five Forces
Analysis
3.5.1. Bargaining Power of
Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat of Substitutes
3.5.4. Threat of New Entrants
3.5.5. Competitive Rivalry
3.6.
PEST Analysis
3.6.1. Political Factors
3.6.2. Economic Factors
3.6.3. Social Factors
3.6.4. Technological Factors
3.7.
Impact of Russia Ukraine
War on LoRa Data Transmission Terminal Market
3.8.
Impact of Economic
Downturn on LoRa Data Transmission Terminal Market
3.9.
Market Investment
Opportunity Analysis (Top Investment Pockets), By Segments & By Regions
4.
Global LoRa Data
Transmission Terminal Market Estimates
& Forecast Trend Analysis, by type
4.1. Global LoRa Data
Transmission Terminal Market Revenue (US$ Mn) Estimates and Forecasts, by type,
2019 to 2033
4.1.1. LoRaWAN Gateways
4.1.2. LoRa Sensors and Nodes
4.1.3. LoRa Modules
4.1.4. LoRa-Enabled Devices
(e.g., Smart Meters, Asset Trackers)
4.1.5. LoRa Development Kits
5.
Global LoRa Data
Transmission Terminal Market Estimates
& Forecast Trend Analysis, by Application
5.1. Global LoRa Data
Transmission Terminal Market Revenue (US$ Mn) Estimates and Forecasts, by Application, 2019 to 2033
5.1.1. Asset Tracking
5.1.2. Smart Agriculture
5.1.3. Smart Metering (Water,
Gas, Electricity)
5.1.4. Environmental Monitoring
5.1.5. Building Automation
5.1.6. Supply Chain Management
5.1.7. Smart Parking
5.1.8. Healthcare Monitoring
5.1.9. Industrial Automation
5.1.10. Security and Surveillance
5.1.11. Others
6.
Global LoRa Data
Transmission Terminal Market Estimates
& Forecast Trend Analysis, by End User
6.1. Global LoRa Data
Transmission Terminal Market Revenue (US$ Mn) and Volume (Units) Estimates and
Forecasts, by End User, 2019 to 2033
6.1.1. Agriculture
6.1.2. Smart Cities
6.1.3. Industrial IoT (IIoT)
6.1.4. Healthcare
6.1.5. Transportation and
Logistics
6.1.6. Utilities
6.1.7. Environmental Monitoring
6.1.8. Retail
6.1.9. Others
7.
Global LoRa Data
Transmission Terminal Market Estimates
& Forecast Trend Analysis, by Component
7.1. Global LoRa Data
Transmission Terminal Market Revenue (US$ Mn) and Volume (Units) Estimates and
Forecasts, by Component, 2019 to 2033
7.1.1. LoRa
Chips
7.1.2. LoRa Antennas
7.1.3. Batteries
7.1.4. Enclosures
7.1.5. Other Hardware Components
8.
Global LoRa Data
Transmission Terminal Market Estimates
& Forecast Trend Analysis, by Region
8.1. Global LoRa Data
Transmission Terminal Market Revenue (US$ Mn) and Volume (Units) Estimates and
Forecasts, by Region, 2019 to 2033
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Middle East
& Africa
8.1.5. South America
9.
North America LoRa Data Transmission
Terminal Market: Estimates &
Forecast Trend Analysis
9.1.
North America LoRa Data Transmission Terminal Market
Assessments & Key Findings
9.1.1. LoRa Data Transmission
Terminal Market Introduction
9.1.2. LoRa Data Transmission
Terminal Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
9.1.2.1. By Type
9.1.2.2. By Component
9.1.2.3. By Application
9.1.2.4. By End User
9.1.2.5. By Country
9.1.2.5.1. The U.S.
9.1.2.5.2. Canada
9.1.2.5.3. Mexico
10.
Europe LoRa Data Transmission
Terminal Market: Estimates &
Forecast Trend Analysis
10.1. Europe LoRa Data
Transmission Terminal Market Assessments & Key Findings
10.1.1. LoRa Data Transmission
Terminal Market Introduction
10.1.2. LoRa Data Transmission
Terminal Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
10.1.2.1. By Type
10.1.2.2. By Component
10.1.2.3. By Application
10.1.2.4. By End User
10.1.2.5. By Country
10.1.2.5.1. Italy
10.1.2.5.2. Germany
10.1.2.5.3. U.K.
10.1.2.5.4. France
10.1.2.5.5. Spain
10.1.2.5.6. Rest of Europe
11.
Asia Pacific LoRa Data Transmission
Terminal Market: Estimates &
Forecast Trend Analysis
11.1. Asia Pacific Market
Assessments & Key Findings
11.1.1. LoRa Data Transmission
Terminal Market Introduction
11.1.2. LoRa Data Transmission
Terminal Market Size and Volume Estimates and Forecast (US$ Million) (2019 – 2033)
11.1.2.1. By Type
11.1.2.2. By Component
11.1.2.3. By Application
11.1.2.4. By End User
11.1.2.5. By Country
11.1.2.5.1. China
11.1.2.5.2. Japan
11.1.2.5.3. India
11.1.2.5.4. Australia
11.1.2.5.5. South Korea
11.1.2.5.6. ASEAN
11.1.2.5.7. Rest of Asia Pacific
12.
Middle East & Africa LoRa Data
Transmission Terminal Market: Estimates
& Forecast Trend Analysis
12.1. Middle East & Africa
Market Assessments & Key Findings
12.1.1. LoRa Data Transmission
Terminal Market Introduction
12.1.2. LoRa Data Transmission
Terminal Market Size and Volume Estimates and Forecast (US$ Million) (2019 – 2033)
12.1.2.1. By Type
12.1.2.2. By Component
12.1.2.3. By Application
12.1.2.4. By End User e
12.1.2.5. By Country
12.1.2.5.1. U.A.E.
12.1.2.5.2. Saudi Arabia
12.1.2.5.3. Egypt
12.1.2.5.4. South Africa
12.1.2.5.5. Rest of Middle East &
Africa
13.
South America LoRa Data Transmission
Terminal Market: Estimates &
Forecast Trend Analysis
13.1. South America Market
Assessments & Key Findings
13.1.1. LoRa Data Transmission
Terminal Market Introduction
13.1.2. LoRa Data Transmission
Terminal Market Size and Volume Estimates and Forecast (US$ Million) (2019 – 2033)
13.1.2.1. By Type
13.1.2.2. By Component
13.1.2.3. By Application
13.1.2.4. By End User
13.1.2.5. By Country
13.1.2.5.1. Brazil
13.1.2.5.2. Argentina
13.1.2.5.3. Colombia
13.1.2.5.4. Rest of South America
14. Competition Landscape
14.1. LoRa Data Transmission
Terminal Market Competition Matrix & Benchmarking, by Leading Players /
Innovators / Emerging Players / New Entrants
14.2. LoRa Data Transmission
Terminal Market Competition White Space Analysis, By End-user
14.3. LoRa Data Transmission
Terminal Market Competition Regional Intensity Map Analysis, By Geographies
Served
14.4. LoRa Data Transmission
Terminal Market Concentration & Company Market Shares (%) Analysis, 2022
15. Company Profiles
15.1. Semtech
15.1.1. Company Overview & Key
Stats
15.1.2. Financial Performance
& KPIs
15.1.3. Product Portfolio
15.1.4. Business Strategy &
Recent Developments
* Similar
details would be provided for all the players mentioned below
15.2. Microchip Technology
15.3. Kerlink
15.4. Circuit Design, Inc.
15.5. Advantech Technology
15.6. Radiometrix
15.7. Four-Faith
15.8. Nemeus
15.9. Jinan USR IOT Technology
15.10.
Chengdu
Ebyte Electronic Technology
15.11.
ICP DAS
15.12.
REDZ Smart
Communication Technologies
15.13.
NiceRF
15.14.
ComWinTop
15.15.
Others
15.16.
Others**
16. Research Methodology
16.1. External Power
Outputs / Databases
16.2. Internal
Proprietary Database
16.3. Primary
Research
16.4. Secondary
Research
16.5. Assumptions
16.6. Limitations
16.7. Report FAQs
17. Research Findings & Conclusion
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One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
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Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
LoRa data transmission terminal market was valued at USD 1.8 billion in 2022 and is estimated to reach a value of 3.8 billion by 2033, with a linear growth behavior at a CAGR of 21.6% during the forecast period 2023-2033.
Top 3 companies operating within the global market are Semtech, Microchip Technology and Kerlink.
One of the primary drivers of cost-effectiveness in LoRaWAN is its low power consumption. LoRaWAN devices, including sensors and endpoints, are designed to operate on minimal power, enabling them to function for extended periods on battery power alone.
APAC dominates the market with an active share of 35.1%, while Europe is estimated to grow at a higher CAGR of 24%.
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