Global LoRa and LoRaWAN IoT Market Size Study & Forecast, by Offering (Hardware, Platform and Services), by Application (Asset Tracking, Industrial IoT, Smart Cities, Smart Agriculture and Livestock Management, Smart Buildings, Smart Healthcare and Other

The Global LoRa and LoRaWAN IoT Market is valued at approximately USD 9.41 billion in 2024 and is anticipated to grow with a robust CAGR of more than 35.90% over the forecast period 2025-2035. LoRa (Long Range) and LoRaWAN (Long Range Wide Area Network) represent low-power, wide-area networking protocols designed to connect battery-operated devices wirelessly to the internet across large distances. These technologies have become a cornerstone of the Internet of Things (IoT) ecosystem, enabling connectivity for applications requiring long-range communication, low data rates, and extended battery life. Market growth is being accelerated by the rapid adoption of smart cities, expansion of industrial IoT ecosystems, and the urgent need for energy-efficient, cost-effective, and scalable IoT deployments across verticals worldwide.

The proliferation of connected devices, supported by government initiatives to digitalize infrastructure, is propelling demand for LoRa and LoRaWAN networks globally. These technologies are increasingly being deployed in use cases such as precision agriculture, real-time asset monitoring, and smart healthcare, where traditional connectivity solutions are either cost-prohibitive or technologically limited. The momentum is further amplified by collaborations between network operators, platform providers, and technology vendors, which are expanding ecosystem interoperability and broadening adoption. However, challenges such as network security vulnerabilities, regulatory variations across regions, and competition from other LPWAN technologies (like NB-IoT and Sigfox) may temper growth prospects, though continuous innovation in network scalability and cloud integration offers mitigating opportunities.

The detailed segments and sub-segments included in the report are:

By Offering:
• Hardware
• Platform
• Services

By Application:
• Asset Tracking
• Industrial IoT
• Smart Cities
• Smart Agriculture and Livestock Management
• Smart Buildings
• Smart Healthcare
• Other Applications

By End User:
• Retail
• Manufacturing
• Transportation & Logistics
• Agriculture
• Healthcare
• Energy & Utilities
• Government & Public Safety
• Enterprise
• Residential
• Travel & Hospitality

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America
• Brazil
• Mexico

Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Smart Cities are Expected to Dominate the Market

Smart cities are poised to dominate the global LoRa and LoRaWAN IoT market during the forecast period, capturing a substantial share of deployments. The exponential rise in urbanization has intensified demand for intelligent infrastructure that can seamlessly monitor and optimize resources such as water, energy, and transportation. LoRaWAN networks, with their ability to support millions of connections at low cost, are emerging as the backbone of smart city applications including smart lighting, waste management, air quality monitoring, and intelligent parking. Governments worldwide are aggressively investing in smart city initiatives, further fueling adoption. Although smart agriculture and healthcare applications are gaining traction, smart cities remain the undisputed leader due to their transformative role in reshaping urban living standards.

Hardware Leads in Revenue Contribution

When analyzing the market by offering, hardware currently contributes the highest revenue, driven by the widespread deployment of LoRa-enabled gateways, sensors, and end devices. Hardware forms the foundation of IoT ecosystems, enabling real-world connectivity across applications such as industrial automation, asset tracking, and agricultural monitoring. While platforms and services are increasingly integral to providing scalability, device management, and analytics, the large-scale procurement of physical devices continues to anchor revenue streams. At the same time, services, particularly managed network services and integration solutions, are anticipated to be the fastest-growing segment as enterprises shift towards outsourced expertise for large-scale IoT rollouts. This indicates a balanced market evolution, where hardware leads revenue today, while services will unlock future growth potential.

The key regions considered for the Global LoRa and LoRaWAN IoT Market study include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America leads the market owing to its robust technological infrastructure, early adoption by utility providers, and strong backing from network operators and government agencies. The U.S. has seen extensive deployment in smart agriculture and industrial IoT, consolidating its leadership position. Asia Pacific is projected to witness the fastest growth, fueled by large-scale smart city initiatives in China and India, growing IoT startup ecosystems, and widespread agricultural modernization. Europe maintains steady adoption driven by strong regulatory support for sustainable energy management, while Latin America and the Middle East & Africa are steadily increasing their presence, particularly in agriculture and public safety applications.

Major market players included in this report are:
• Semtech Corporation
• Cisco Systems, Inc.
• IBM Corporation
• Actility SA
• Kerlink SA
• Senet, Inc.
• The Things Industries
• Amazon Web Services, Inc.
• Microsoft Corporation
• Tata Communications Limited
• OrbiWise SA
• LORIOT AG
• Orange S.A.
• Comcast Corporation
• STMicroelectronics N.V.

Global LoRa and LoRaWAN IoT Market Report Scope:
• Historical Data – 2023, 2024
• Base Year for Estimation – 2024
• Forecast period - 2025-2035
• Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below:

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of the geographical landscape with country-level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of the competitive structure of the market.
• Demand side and supply side analysis of the market.

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions. Show more