LPWAN Market Size, Share, Growth and Forecast to 2027 | Coronavirus Effects

 Market Highlights

The market for low power wide area network (LPWAN) has the potential to grow at an approximate rate of 72% during the forecast period (2017-2023), reveals Market Research Future (MRFR).

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.

The network operators all over the world are developing licensed and unlicensed LPWA variants, like LoRa, Sigfox, and NB-IoT, to backup devices that send less data over a wide area while maintaining the battery life. To illustrate, in January 2019, Telefónica Deutschland developed LTE-M and NB-IoT network in Germany. The company has expertise in machine networks that aid business customers for IoT applications, like smart metering. 

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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 worldwide low power wide area network market is geographically distributed into Asia Pacific (APAC), North America, Europe, along with the Rest of the World (RoW).

Europe can seize the largest portion of the LPWAN market, making it the leading region. Surging adoption of IoT in healthcare institutions has boosted the demand for communication infrastructure that supports IoT device connectivity. This has facilitated the adoption rate of LPWAN in the region.

APAC has the potential to achieve the fastest growth rate in the global market. Some of the leading markets for LPWAN in the region are India, China, and the Netherlands. These countries are experiencing high adoption of IoT solutions across diverse industry verticals including manufacturing, agriculture, logistics, and utilities. Government agencies in these countries are backing digital transformation with initiatives like Make in India and Made in China 2025. These initiatives aim to elevate the adoption of IoT across manufacturing industries.

North America houses a large number of renowned companies and is an early adopter of advanced technologies. Therefore, the region offers a strong platform to low power wide area network to evolve immensely. The region notes high gains, in terms of advancements in manufacturing processes, technology, and industrial infrastructure. As a result, the market growth in the region has been quite apparent in recent years.

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.), AT&T 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), to mention a few.

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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 2023

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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