LoRa is digital wireless data communication technology useful for long range communication. LoRa is also refers to the systems that support the modulation, with use of LoRa chipsets and gateways. It is a radio modulation scheme, a way of manipulating a radio waves to encode information using a chirped, multi symbol format. Further, this allows transmission of as far as 15 km with clear line of sight and a typical range in urban area is 2 to 3 km. LoRa chipset provide much longer range for low data rate applications compared to other priced radio technologies. Furthermore, it also offers good receiver sensitivity and low bit error rate.
LoRa chipset technology is ideal for low power applications and battery operated sensor such as sensor networks internet of things, smart agriculture, industrial automation, manufacturing applications, asset tracking, smart meters, smart home, M2M, and others. Moreover, it is also applicable in smart city for various application including supply chain management with asset tracking & condition monitoring, water & gas metering, land condition monitoring or animal tracking and geo fencing, smart parking, intelligent street lighting, power station monitoring, smart grids with electricity, and others.
The LoRa chipsets market is primarily driven by the increased deliveries of LoRa chipset in IoT applications including healthcare and pharmaceuticals, media and advertising, logistics & shipping, and asset tracking, and others. The smart city investment expected to trigger adoption of LoRa chipset for various application including intelligent street lighting, smart meters, asset tracking, smart home and others.
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The usage of LoRa technology is providing real time data for parking management, making it easier for drivers to find available parking spaces for off street and on street private and public parking management. Further, it helping to reduce carbon emissions and traffic congestion caused by drivers retracing their steps repeatedly in an effort to find available parking. Further expected to foster the global LoRa chipsets market during forecast period.
The global LoRa chipsets market has been segmented based on end use industry, and region. Based on end-use industry, the market can be segmented into healthcare and pharmaceuticals, media and advertising, agriculture, logistics & shipping, energy & utilities, asset tracking, and others. In terms of region, the global LoRa chipsets market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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North America and Europe is anticipated to contribute a significant share to the global LoRa chipsets market due to the presence of leading LoRa chipset manufacturers, for instance, Qualcomm, Intel, and Microchip Technology Inc. in this region. The market in Asia Pacific is anticipated to expand at a rapid pace owing to the expansion of application industry verticals such logistics tracking, smart city and healthcare, in emerging economies such as India and China, in this region.
Key players operating in the global LoRa chipsets market include Semtech Corporation, Microchip Technology Inc, Murata Manufacturing Co., Ltd, Hoperf, Gemtek, STMicroelectronics, Qualcomm, Huawei, Nordic, NB-IoT, Intel, ZTE, and others. These players are actively focusing on organic and inorganic growth strategies in order to gain a competitive advantage in the market.