Overview and Scope
Low power wide area networks (LPWANs) refer to wireless communication technologies designed to enable long-range connectivity with low power consumption, making them ideal for Internet of Things (IoT) applications. LPWANs facilitate the transmission of small amounts of data over long distances, often in remote or challenging environments.
Sizing and Forecast
The low power wide area network (LPWAN) market size has grown exponentially in recent years. It will grow from $10.55 billion in 2023 to $16.24 billion in 2024 at a compound annual growth rate (CAGR) of 53.8%. The growth in the historic period can be attributed to adoption in wildlife tracking and conservation, rise of Industry 4.0 initiatives, rise of LPWAN-based security systems, growth in LPWAN-based asset monitoring, utilization in air quality monitoring.
The low power wide area network (LPWAN) market size is expected to see exponential growth in the next few years. It will grow to $90.67 billion in 2028 at a compound annual growth rate (CAGR) of 53.7%. The growth in the forecast period can be attributed to the growing demand for IoT connectivity, demand for long-range, low-power connectivity, penetration into smart agriculture, increasing adoption of smart city solutions, growth in smart metering applications. Major trends in the forecast period include strategic collaboration, expansion of agricultural IoT applications, integration of LPWAN with edge computing, expansion into fleet management solutions, integration with renewable energy systems.
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Segmentation & Regional Insights
The low power wide area network (LPWAN) market covered in this report is segmented –
1) By Technology: Long Range Wide Area Network (Lorawan), Narrowband Internet of Things (Nb-IoT), Sigfox, Other Technologies
2) By Deployment Model: On-Premise, Cloud
3) By Application: Smart Building, Smart Gas And Water Monitoring, Smart Waste Management, Smart Agriculture, Smart Parking, Other Applications
4) By End User: Healthcare, Oil And Gas, Industrial Manufacturing, Agriculture, Consumer Electronics, Transportation And Logistics, Other End Users
North America was the largest region in the low power wide area network (LPWAN) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the low power wide area network (LPWAN) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growth in smart metering applications is expected to propel the growth of the low power wide area network (LPWAN) market going forward. Smart metering applications refer to the use of advanced metering technology, often integrated with IoT connectivity and data analytics, to monitor and manage energy consumption in real-time, optimizing energy usage and efficiency. Smart metering applications are growing due to increasing demand for real-time monitoring and optimization of energy consumption, driven by the need for efficiency, cost reduction, and sustainability in various industries and residential sectors. The low power wide area network (LPWAN) enables efficient and long-range connectivity for smart meters, optimizing communication and extending battery life in smart metering applications. For instance, in November 2022, according to the Department for Business, Energy, and Industrial Strategy (BEIS), a UK-based government department, in the third quarter of 2022, large suppliers installed 836800 domestic and 44900 non-domestic smart meters, which is 21900 and 16400 more than in the second quarter of 2022, respectively. Therefore, the growth in smart metering applications is driving the growth of the low power wide area network (LPWAN) market.
Key Industry Players
Major companies operating in the low power wide area network (LPWAN) market are Amazon Web Services Inc., Google LLC, Microsoft Corporation, Huawei Technologies Co. Ltd., Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Qualcomm Incorporated, Oracle Corporation, Nokia Corporation, Ericsson AB, Alibaba Cloud, Semtech Corporation, Inogen Inc., Nwwave Technologies, MultiTech Systems Inc., Sig Sauer Inc., Moeco, Kerlink SA, Link Labs Inc., LoRa Alliance, Senet Inc., Astrocast SA
The low power wide area network (lpwan) market report table of contents includes:
1. Executive Summary
2. Low Power Wide Area Network (LPWAN) Market Characteristics
3. Low Power Wide Area Network (LPWAN) Market Trends And Strategies
4. Low Power Wide Area Network (LPWAN) Market – Macro Economic Scenario
5. Global Low Power Wide Area Network (LPWAN) Market Size and Growth
…..
32. Global Low Power Wide Area Network (LPWAN) Market Competitive Benchmarking
33. Global Low Power Wide Area Network (LPWAN) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Low Power Wide Area Network (LPWAN) Market
35. Low Power Wide Area Network (LPWAN) Market Future Outlook and Potential Analysis
36. Appendix
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