Lorawan Market Size and Forecast

The Global LoRaWAN Market is estimated to be valued at USD 4.98 Bn in 2025 and is expected to reach USD 40.07 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 34.7% from 2025 to 2032.

Key Takeaways of the Global LoRaWAN Market:

Based on component, the hardware segment is expected to hold the largest share of 46.7% in 2025.
North America is expected to lead the global LoRaWAN market, holding an estimated share of over 31.7% in 2025.
Asia Pacific is expected to be the fastest-growing region in the LoRaWAN market, holding a share of 27.4% in 2025.

Market Overview:

The increasing adoption of smart city projects around the world is enabling the deployment of a larger number of IoT devices that utilize low power wide area networks for connectivity. These networks help connect devices reliably over long ranges with low power consumption which is fueling the growth of this market.