The Europe LoRa and LoRaWAN IoT Market would witness market growth of 36.5% CAGR during the forecast period (2023-2030).
LoRaWAN networks provide the least amount of infrastructure to set up when compared to other solutions for the Internet of Things connectivity. In addition, given that LoRa gateways are able to cover large regions, there is a need for a reduced number of gateways, which results in cost savings. Because of this, it is a solution that is both cost-effective and suitable for large-scale Internet of Things deployments.
LoRaWAN contains a number of different security features, ensuring the confidentiality, integrity, and validity of any data that is transferred. The transmission of data is safeguarded by AES-128 encryption, which also enables mutual authentication among endpoints and the network. These security measures protect the applications that make up the Internet of Things from illegal access and data breaches.
Compared to NB-IoT, LoRaWAN solutions can achieve lower overall operating costs since they benefit from using unlicensed spectrum and consume less power than those using NB-IoT. As a result, LoRaWAN solutions are gaining popularity compared to NB-IoT. Additionally, the self-deployment capabilities of LoRaWAN, along with the maturity of its chipset, gateway, and cloud service ecosystem, make it an ideal choice for businesses that require complete ownership of their infrastructure, whether it be in an enterprise campus, a smart building, or an agricultural crop.
The Government of Germany is working for patients to reap the benefits of innovative approaches to care as quickly as feasible. This is why they are extending the innovation fund's annual expenditure of €200 million until 2024 and striving to ensure swift incorporation of successful approaches into healthcare. As soon as feasible, patients will have access to digital services such as electronic patient records across the nation. The Government has mandated that pharmacies and hospitals connect to the Telematics Infrastructure (TI). Such digital development in healthcare is expected to increase the need for LoRa and LoRaWAN as their low power consumption, cost-effectiveness, and dependable performance makes them ideal for digital healthcare, which will surge the market growth in the region.
The Germany market dominated the Europe LoRa and LoRaWAN IoT Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,105 million by 2030. The UK market is estimated to grow a CAGR of 35.3% during (2023 - 2030). Additionally, The France market would experience a CAGR of 37.5% during (2023 - 2030).
Based on End User, the market is segmented into Manufacturing, Retail, Transportation & Logistics, Energy & Utilities, Government & Public, Safety, Enterprise, Healthcare, Agriculture, Residential, Travel & Hospitality and Others. Based on Component, the market is segmented into Hardware, Platform and Services. Based on Application, the market is segmented into Industrial IoT, Smart Agriculture & Livestock Management, Smart Buildings, Smart Cities, Smart Healthcare, Asset Tracking and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide LoRa and LoRaWAN IoT Market is Projected to reach USD 48.4 Billion by 2030, at a CAGR of 36.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Advantech Co., Ltd., NEC Corporation, Tata communications limited (Tata Group), Nwave Technologies, Inc., Semtech Corporation, Orange S.A., Bosch Sensortec GmbH (Robert Bosch GmbH), Amazon Web Services, Inc. (Amazon.com, Inc.), Datacake GmbH, and RAKwireless Technology Limited.
By End User
By Component
By Application
By Country
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