Taipei Jan.19 – LoRaWAN is designed for wide range and low-power communications in smart city and IoT applications. The global LoRaWAN market is projected to reach US$5557.2 million, growing at a very high compound annual growth rate (CAGR) of 47.2% during 2019 to 2027, according to market research firm InForGrowth. The high growth rate and demand is driven by the below main factors.
- With the use of IoT in various applications such as smart metering, smart lighting, and livestock monitoring, organizations face challenges regarding the selection of an appropriate connectivity option for specific business use cases.
- LoRaWAN as a private network that connects different endpoints that use different applications (IoT, M2M, smart cities, sensor networks, and industrial automation) in a single data environment. This fuels the demand for LPWANs that offer requisite connectivity, provide long-range access, and extended battery life for connected devices and sensors.
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With over 20 years of industrial IoT market experience, WoMaster Group is one of the leading IoT providers in Industrial world. The company is joint ventured by global listed Industrial companies including IEIxQNAP Group, HMS Industrial Networks, and HolyStone Group. WoMaster designs and manufactures high-quality industrial products for critical applications such as railway, power and utility, intelligent transportation and smart city surveillance. From networking devices to all-in-one communication stations, WoMaster adds value by the hardened design, public and private cloud platform, high levels of Cyber Security protection, and customer-oriented solutions.