LoRa and LoRaWAN IOT Market Trends

Growth Drivers

• Increasing Demand for Low-Range and Low Power Consumption: Due to the rapid growth of IoT, the requirement for cost-effective and scalable solutions is growing, and there has been increasing demand for low-range and wide-area connectivity networks. Moreover, this growth in IoT networks is directed by efficient and definitive communication between devices and the cloud, majorly in agriculture, logistics, industrial automation, and smart cities. Various wireless technologies such as NB-IoT, LoRaWAN, and Sigfox have come out to meet this demand. After the introduction of these technologies, businesses have started investing in the Internet of Things sector.

• Batteries Operated Devices for Energy Conservation: Most IoT devices are operated by batteries and are required to save power in order to ensure battery long life. Devices operated by batteries are considerably suitable for LoRaWAN as they consume very little power. This feature is very helpful in circumstances where the device must run for a long time continuously without changing of batteries again & again. LoRaWan needs long-range communication between a large number of devices that require very low power and that accumulate data in small amounts. According to a recent report, if we use LoRaWAN sensors in batteries then if the battery level goes down by 20% it will be indicated to us by sending a notification or by email.

Challenges

• Problem to Operate Devices in Coordination: Various types of devices, platforms, and applications are available in the Internet of Things ecosystem which makes it difficult to arrange smooth communication among different LoRa and LoRaWAN devices and networks. This problem limits the expansion and adoption of LoRa and LoRaWAN technology.

• Security is a crucial concern in IoT technologies. Large-scale IoT network businesses using LoRa and LoRaWAN may face problems with network security, and data privacy, and there are chances of cyberattacks or illegal access to data.