Smart buildings have emerged as the fastest-growing vertical market for LoRaWAN deployments, based on information provided by LoRa Alliance members.
The global association of companies that backs the open LoRaWAN standard for the internet of things (IoT) low-power wide-area networks (LPWANs) found key applications driving return on investment (ROI) for building owners include energy and operational efficiency, environmental monitoring, and preventive maintenance.
Additionally, legislation, such as France’s BACS decree that imposes a gradual reduction in energy consumption, is accelerating activity in this sector.
Smart Building Market
The news comes as LoRa Alliance officials pointed to research from Transforma Insights that LPWAN technologies such as LoRaWAN will collectively grow from 439 million in 2024 to approaching 1.8 billion in 2034.
“The smart building market has truly taken off this year as major building management companies have realized substantial benefits on the back of LoRaWAN deployments,” said Alper Yegin, CEO of the LoRa Alliance. “[A]doption has skyrocketed in the smart buildings sector because operators realize the benefits it offers alongside a strong ROI once solutions are implemented.”
The LoRaWAN Advantage
While building management has historically relied on wired systems, they are now being replaced with wireless technologies that offer faster, more flexible deployment. LoRaWAN stand out within the smart building due to being only wireless technology that can penetrate walls while maintaining low-power consumption. This combination enabling new levels of operational efficiency and connectivity in the smart building environment.
LoRaWAN networks co-exist with other wireless networks, as they are complementary to Wi-Fi, Bluetooth, 5G, and RFID, among other technologies, further enhancing their suitability for smart building applications. With the technology’s ability to integrate seamlessly into building management system standards like BACnet, KNX, Modbus, and similar environments, LoRaWAN enables a quick path to modernizing and upgrading older facilities while retaining the value of existing building management systems.
Benefits are equally significant for new construction, with a wide range of certified sensors available to better manage building environments, energy use, utilization, and more.
Recent Developments
Among the success stories cited by the alliance include Verizon Sensor Insights at the State Farm Arena in Atlanta which supports multiple IoT protocols, including LoRaWAN, allowing users to manage sensors, gateways, and connectivity from a centralized portal for optimized decision-making. And Swisscom deployed a LoRaWAN service-on-demand solution for inspection rounds in facility management that cut work times for Post Real Estate Management and Services, Ltd. by 30%.
Additionally, a New York City high-rise condo, deemed “uninsurable” after two major water events costing over $6 million in damages that resulted in insurance premiums rising $700,000. Management worked with ProSentry to install 320 smart LoRaWAN water sensors, detecting 31 leaks and catching a freezing door incident in real time before damage escalated.
“Given the projected growth in smart buildings over the next five years, LoRaWAN solution providers are extremely well-positioned to capitalize on this growth and bring sustaining value to this sector,” said Yegin.