LoRaWAN Market Analysis

In terms of application, the LoRaWAN market valuation from smart gas & water metering applications will cross USD 10 billion by 2032, led by the growing need for automation in the sector. Gas and water utility firms across developed economies are increasingly focusing on eliminating human errors caused during manual meter reading. LoRaWAN-based smart metering helps gas agencies monitor gas usage of customers remotely, allowing them automatically to bill consumers on the basis of the actual utility usage. These systems prevent errors while increasing accuracy, making the billing experience more transparent and precise for customers.
 

The LoRaWAN market size from the public deployment model segment is expected to exceed USD 32 billion by 2032. The ability of the model to deliver scalable and cost-effective solutions to private businesses and entities for deploying their IoT networks is likely to spur segment revenues. Moreover, it also removes the need for organizations to make heavy investments towards their own network structures, allowing them to invest the capital in other projects.
 

The North America LoRaWAN market size accounted for USD 900 million in 2022, owing to increasing collaborations among leading companies in the region. Back in January 2022, Helium Network collaborated with leading LoRaWAN operator, Senet, in the U.S. and LoRaWAN provider, X-TELIA, in Canada to make the region more entrenched in the region.
 

Industry player efforts such as these are likely to become more common in years ahead as investments towards the region’s smart cities grow. As per the SmartAmerica Challenge, local administrations are set to invest over $41 trillion to prepare their infrastructure for IoT over the next two decades.