The Latin America, Middle East and Africa LoRa and LoRaWAN IoT Market would witness market growth of 42.1% CAGR during the forecast period (2023-2030).
Low Power Wide Area Networks (LPWANs) are optimal for IoT deployments involving thousands of sensors. LoRaWAN presents the greatest variety of smart city benefits. LoRaWAN is an open standard that is adaptable, scalable, efficient, and interoperable for all city requirements. Open standards facilitate longevity and encourage an ecosystem's competitiveness and engagement, thereby mitigating concern for both technology manufacturers and cities. To ensure proper implementation of the LoRaWAN standards, the LoRa Alliance provides a comprehensive certification program that gives cities confidence that devices will be reliable and compliant with the standards, thereby reducing potential support costs and ensuring interoperability.
The Internet of Things (IoT) has advanced significantly in wireless communication technology, including WiFi, Bluetooth, Zigbee, LoRa, and others, and has been gradually promoted and applied in numerous industries. Regarding LoRa, its low power consumption, low cost, and extensive coverage make it a great choice for medical applications. Spread spectrum technology is used specifically in LoRa, which enables terminals with various spreading spectrum sequences to transmit simultaneously on the same frequency without interfering with one another. LoRa creates networks with affordable modules and gateways instead of cellular networks, which must connect via base stations. Additionally, integrating LoRa devices with other technologies is simple.
Abu Dhabi and Dubai were ranked amongst the top in the Smart City Index 2021 in the Middle East and North Africa. Additionally, Dubai Plan 2021 seeks to turn Dubai into a smart and sustainable city. With a focus on six key sectors—transportation, infrastructure, communications, urban planning, economic services, and electricity—Dubai's Smart City initiative has implemented a transformation strategy for approximately one thousand government functions. In addition, the Middle East and Africa are leading the way for smart city initiatives by progressively adopting the most cutting-edge technologies and devices. Hence, the increasing smart city initiatives are anticipated to increase the adoption and utilization of LoRa and LoRaWAN to implement IoT sensors throughout the smart city, thereby contributing to the growth of the LAMEA market.
The Brazil market dominated the LAMEA 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 $1,033.1 million by 2030. The Argentina market is exhibiting a CAGR of 42.9% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 41.8% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
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