PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1788277
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1788277
Global LoRaWAN Market to Reach US$32.9 Billion by 2030
The global market for LoRaWAN estimated at US$4.0 Billion in the year 2024, is expected to reach US$32.9 Billion by 2030, growing at a CAGR of 42.1% over the analysis period 2024-2030. Hardware, one of the segments analyzed in the report, is expected to record a 45.8% CAGR and reach US$22.9 Billion by the end of the analysis period. Growth in the Software segment is estimated at 34.6% CAGR over the analysis period.
The U.S. Market is Estimated at US$1.1 Billion While China is Forecast to Grow at 39.7% CAGR
The LoRaWAN market in the U.S. is estimated at US$1.1 Billion in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$4.8 Billion by the year 2030 trailing a CAGR of 39.7% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 39.0% and 36.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 29.0% CAGR.
Global LoRaWAN Market - Key Trends & Drivers Summarized
What Is LoRaWAN and Why Is It Gaining Traction in the IoT Ecosystem?
LoRaWAN (Long Range Wide Area Network) is a low-power, wide-area networking protocol specifically designed for wireless communication of battery-operated devices over long distances. It operates on unlicensed radio frequencies (such as 868 MHz in Europe and 915 MHz in North America) and is optimized for applications that require infrequent, low-bandwidth data transmission-making it ideal for Internet of Things (IoT) devices. As part of the broader LoRa (Long Range) ecosystem, LoRaWAN defines the communication protocol and system architecture for managing data between end nodes (sensors and devices) and gateways that forward data to central servers.
Its key advantages include long-range communication (up to 15-20 km in rural areas), ultra-low power consumption (enabling device lifespans of 5-10 years on a single battery), low operational costs, and strong network scalability. These benefits make LoRaWAN an ideal connectivity solution for sectors such as agriculture, utilities, smart cities, asset tracking, logistics, and environmental monitoring. The open and interoperable nature of the LoRaWAN protocol, supported by the LoRa Alliance, has helped create a global, collaborative ecosystem that fosters rapid innovation and deployment of IoT solutions.
Which Technological Trends and Use Cases Are Shaping the LoRaWAN Market?
The LoRaWAN market is being shaped by a growing range of use cases, continuous enhancements in network architecture, and deeper integration with emerging technologies. One of the most significant trends is the hybridization of LoRaWAN with edge computing and artificial intelligence (AI), enabling smart devices to process and act on data locally before transmitting essential information over the network. This reduces bandwidth use and enhances response times for mission-critical applications such as industrial automation and smart agriculture.
Another pivotal trend is the emergence of private LoRaWAN networks, which are gaining traction among large enterprises, municipalities, and utilities that require secure, custom-controlled IoT environments. These networks allow for greater data sovereignty and lower operating costs compared to cellular alternatives. LoRaWAN is also increasingly being integrated into smart city infrastructures-powering applications such as intelligent street lighting, waste management, water metering, air quality monitoring, and parking systems. In logistics and supply chain management, LoRaWAN is enabling real-time tracking of shipments, inventory, and fleet movement, improving operational transparency and efficiency.
Technological advancements like Firmware Over-The-Air (FOTA) updates, enhanced network server capabilities, and support for geolocation without GPS (through triangulation between gateways) are further improving the reliability and functionality of LoRaWAN deployments. The protocol’s ability to coexist with other technologies like 5G, Wi-Fi, and NB-IoT in hybrid networks is also broadening its utility across complex industrial and urban ecosystems.
What Factors Are Driving Growth in the Global LoRaWAN Market?
The growth in the global LoRaWAN market is driven by several factors, including increasing adoption of IoT technologies across industries, rising demand for low-power wide-area networks (LPWANs), and expanding smart infrastructure initiatives. As governments and enterprises ramp up digital transformation projects-especially in energy, agriculture, manufacturing, and urban development-LoRaWAN is emerging as a preferred connectivity solution due to its balance of range, power efficiency, and cost-effectiveness.
Smart city projects across Europe, North America, and Asia-Pacific are particularly strong growth drivers, as municipalities implement data-driven infrastructure to enhance sustainability, safety, and operational efficiency. The adoption of smart metering in utilities and remote condition monitoring in oil and gas, mining, and manufacturing sectors is also fueling demand. Additionally, LoRaWAN’s open ecosystem, supported by the LoRa Alliance and a growing network of certified solution providers, is reducing vendor lock-in and accelerating global deployment.
The increasing deployment of private LoRaWAN networks in agriculture, logistics, and industrial facilities, coupled with the availability of affordable, plug-and-play sensor kits, is driving mass adoption in both enterprise and SME segments. Finally, regulatory support for unlicensed spectrum usage, along with ongoing innovation in device interoperability and network infrastructure, is making LoRaWAN a vital enabler of scalable, sustainable, and cost-effective IoT ecosystems worldwide.
SCOPE OF STUDY:
The report analyzes the LoRaWAN market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Component (Hardware, Software, Services); Application (Smart gas & water metering, Asset tracking, Smart buildings, Smart parking, Precision agriculture, Smart waste management, Livestock monitoring, Others); End-Use (Healthcare, Agriculture, Logistics & transportation, Manufacturing, Utilities, Consumer electronics, Government & public sector, Others)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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