Low Power Wide Area Network Market Overview:
A Low Power Wide Area Network (LPWAN) is a type of wireless telecommunication network designed to provide low-power, low-bandwidth communication over long ranges. LPWANs are typically used for Internet of Things (IoT) devices that require long battery life and operate over large distances.
Global Low Power Wide Area Network Market Size is expected to reach USD 1120 Billion with a CAGR of approximately 87% during the forecast period 2020-2030.
One of the advantages of LPWANs is their low power consumption, which allows devices to operate for years on a single battery charge. LPWANs achieve this low power consumption by using low data rates and long-range wireless communication, which reduce the amount of energy required to transmit data.
There are several different LPWAN technologies available, including LoRaWAN, Sigfox, NB-IoT, and LTE-M. Each technology has its own advantages and disadvantages and is suited for different types of IoT applications.
LPWANs have many potential applications, including smart city infrastructure, asset tracking, environmental monitoring, and industrial automation. As the IoT continues to grow and more devices are connected to the internet, LPWANs are expected to become increasingly important for providing low-power, long-range wireless connectivity.
Top Drivers and Primary Challenges
Rising adoption of machine-to-machine communication devices, given their low cost and less power consumption can stimulate growth of the LPWAN market. With the increasing use of IoT for different applications, including smart lighting, livestock monitoring, and smart metering, organizations are facing issues with regard to the selectivity of the best connectivity option for certain business use cases.
Numerous wireless technologies like ZigBee and Bluetooth cannot be used for long-range M2M communication applications. Due to this restraint, the demand for LPWANs has increased, as these offer requisite connectivity, long-range access as well as extended battery life for connected devices sensors. The market also benefits from considerable investments by LPWAN market participants to develop low power wide area network standards along with the ecosystem.
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Segmentation:
The worldwide low power wide area network market has been studied with respect to segments including service, connectivity technology, application, network deployment, and vertical.
Depending on the service, the market caters to professional services and managed services.
With context to connectivity technology, the market is considered for SIGFOX, LoRaWAN, Weightless, and others.
Application-based segments are smart waste management, smart buildings, smart gas and water metering, smart streetlights, smart parking, livestock monitoring, and others.
With regard to the network deployment, the market can be split into public sector and private sector.
As per the vertical, the market can be divided into smart logistics and transportation, agriculture, industrial manufacturing, healthcare, consumer electronics, oil and gas, and others.
Regional Analysis
The European region dominates the global low power wide area network (LPWAN) market followed by North America and Asia Pacific region, respectively. Factors impacting the growth of the regional market include the technological advancements and proliferation of intelligent connected devices among others. Moreover, the presence of a well-established infrastructure fosters market growth, allowing faster implementation of advanced technologies.
North America is a hub for a large number of enterprises and early adopter of innovative technology, and hence, offers a favorable platform to the low power wide area network (LPWAN) to evolve significantly. The region perceives a higher growth in terms of advancements in technology, manufacturing processes operations, and industrial infrastructure. Resultantly, the market in this region is increasing rapidly. Also, factors such as the presence of major market players, rising mobile workforces, and a spurting demand for high-speed data services are some of the key driving forces behind the growth of the regional market.
The Asia Pacific region has become another lucrative market for LPWAN following the North American market closely. The market in the APAC is growing significantly due to the factors such as the increasing opportunities in the developing countries which are inclined toward automation, adopting increasingly cloud services.
Moreover, the market proliferation of mobile devices, wide adoption of cloud-based solutions among SME large enterprises, and developments in the IT sector are some of the major factors fostering the growth of the regional market. Additionally, the increasing numbers of prominent players in this market drive the market growth continually innovating and presenting cost-effective secured low power LPWAN solutions.
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Top Companies
Top companies competing in the global low power wide area network market include:
- Ingenu (U.S.),
- NWave Technologies (London),
- SIGFOX (France),
- WAVIoT (U.S.),
- Qualcomm Inc. (U.S.),
- Semtech Corporation (U.S.),
- Weightless SIG (U.K),
- Senet, Inc. (U.S.),
- ATT Inc. (Germany),
- Cisco Systems (U.S.),
- Actility (France),
- Link Labs Inc. (U.S.),
- Telefonica SA (Spain),
- Vodafone Group Plc. (U.K) ,
- LORIOT (Switzerland),
- Huawei Technologies Co. Ltd. (China)
Global Low Power Wide Area Network Market Research Report: by Connectivity Technology (SIGFOX, LoRaWAN, Weightless), Service (Managed, Professional), Network Deployment (Private, Public), Application and Vertical | Forecast till 2030
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