Global LoRa chipsets market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of ~20% during the forecast period.
Global LoRa Chipsets Market
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LoRa stands for long range. It is a low power wide area network (LPWAN) protocol and is developed by Semtech Corporation. It is basically a wireless communication technology that offers secure data transmission, low power and long range for Internet of Thing and Machine to Machine applications.
A surge in the adoption of LoRa chipset or module in wireless communication solutions to address rising demands of end-devices, such as low infrastructure cost, low-power for battery operation, and long range connectivity is major driving factor behind the growth of the market. Growing market for Internet of Things technology, rising demand of low power sensor applications, increasing significance of LoRa chipsets in applications such as smart homes and building, smart industrial and many other smart automation applications and growing projects related with smart cities across the developing companies are expected to improve the growth of the market during the forecast period.
However, various technological challenges related with LoRa chipsets are the major restarting factor that could hamper the growth of the market.
Global LoRa Chipsets Market: Market Overview
The global LoRa chipset market has been seeing ample growth from past few years. The growing demand for LoRa chipsets in M2M and IoT applications owing to its benefits such as long range, high capacity, long battery life, efficient and secured network and interference immunity is impelling the growth of the market. LoRa chipsets are widely used to connect gateways, sensors, machines, people, animals, devices, etc. wirelessly to the cloud or IoT solutions.
LoRa chipset technology operates in a wide range of frequency bands in different regions, in Asia Pacific region it operates in the 865 to 867 MHz, 920 to 923 MHz band, in Europe it operates in the 868 MHz band and in the United States it operates in the 915 MHz band. Thus, growing market for wireless communication technology across these regions is further propelling the growth of the market. In addition, increasing market strategies by the leading LoRa chipset manufacturing companies such as Semtech Corporation is expected to propel growth of the market across the globe. For instance,
• In July 2018, Semtech Corporation, a world leading supplier of high performance mixed-signal and analog semiconductors, announced that Ahoy Systems, an India based OEM and electronic design house for several smart city devices, integrated Semtech’s LoRa devices and LoRa Technology into its smart street-lighting products.
Global LoRa Chipsets Market: Regional Analysis
Region-wise, North America dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. The US and Canada are the major contributors behind the growth of the market in the region. The growth is attributed to the growing adoption rate of smart homes, smart agriculture, intelligent building, and many other automation technologies.
A rising number of smart cities across the US, growing technological advancements in wireless communication technology, rising demand for low power battery operated devices, growing market for industrial automation and presence of the Semtech company who invented LoRa modules or technology are driving the growth of the market in NA region.
However, Asia Pacific is projected to witness high growth at a CAGR of XX% during the forecast period. Countries such as India, China, South Korea and Japan are likely to contribute in the growth of the market. An increasing adoption of high end devices such as Smartphone’s, rising need for long range connectivity, growing market for telecommunication industry across the region and rising investments in smart city related projects along with adoption of smart homes are expected to improve growth of the market in APAC region.
The objective of the report is to present a comprehensive analysis of the Global LoRa Chipsets Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global LoRa Chipsets Market dynamics, structure by analyzing the market segments and projects the Global LoRa Chipsets Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global LoRa Chipsets Market make the report investor’s guide.
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Scope of Global LoRa Chipsets Market
Global LoRa Chipsets Market, By Industry
• Healthcare and Pharmaceuticals
• Media and Advertising
• Intelligent Building
• Logistics & Shipping
• Energy & Utilities
• Asset Tracking
Global LoRa Chipsets Market, By Region
• North America
• Asia Pacific
• South America
• Middle East and Africa
Global LoRa Chipsets Market, Key Players
• Semtech Corporation
• Microchip Technology Inc
• Murata Manufacturing Co., Ltd
• Mouser Electronics
• Zhejiang Reallin Electron Co.,Ltd
• RAJGURU ELECTRONICS
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