The study segments the market by application, industry, and region. The application segment is segmented into industrial automation, home automation, smart agriculture, smart city, asset tracking, and others.
Increasing penetration of IoT has demonstrated the advantages to manufacturers and will positively impact the LoRa gateway module market. Expanding cellular IoT infrastructure and the introduction of 5G are also factors boosting the demand for LoRa gateway modules in industry, as well as an increasing amount of smart city projects and the increasing penetration of smart devices.
Continuous investments by countries industrial automation and the fulfilment of the current connectivity solutions for industries have encouraged vendors to offer cellular connectivity with new concepts that include LoRa. This demand has prompted a constant rise at a rapid pace for LoRa, particularly across the manufacturing industry sectors.
North America and Europe are currently the largest markets for LoRa gateway modules due to the presence of key players and the early adoption of advanced technologies. The rapid expansion of the IoT market and high government spending for LoRa technology are also helping drive the market.