SK Telecom announced that it signed a MoU with Honeywell Korea, the leading provider of automation and control solutions to jointly develop wireless sensors based on SK Telecom’s LoRa network technology.
SK will integrate LoRa network technology with Honeywell’s sensor and control devices across homes, buildings and factories.
Wireless sensors applied with LoRa network technology can be easily installed in new homes/buildings and can also replace the existing sensors, significantly driving down the construction and labor costs, said SK in a statement.
Allied Market Research forecasts that global market for sensors is expected to garner $241 billion by 2022, growing at a CAGR of 11.3%. In the year 2015, Asia-Pacific dominated the global market and contributed over 45% of the overall market, owing to improved electronics industry infrastructure and increase in demand for electronic products such as smartphones, handheld devices, PCs, laptops, and others.
In July, SK Telecom announced that it has completed the nationwide deployment of Low Power Wide Area Network (LPWAN) based on LoRa technology. The Operator also launched price plans for LoRa-based IoT services and new offerings in specific IoT verticals.
