Market Highlights
Low Power Wide Area Network (LPWAN), a type of network technology that allows long-range communication at a low-bit rate has become a common choice for building IoT networks, worldwide. LPWAN offers a very intriguing mix of long range, low power consumption, and secure data transmission.
Resultantly, the LPWAN market is growing pervasively, witnessing rapid adoption. Moreover, the increasing number of IoT/M2M applications and rising need for long-range network connectivity between devices are accelerating the market on the global platform.
Considering the colossal growth that the market is witnessing, Market Research Future (MRFR), in its recently published market study analysis asserts that the global low power wide area network (LPWAN) market is poised to touch a valuation of USD 75 BN by2023, registering a magnificent 72% CAGR throughout the forecast period (2017 – 2023).
The LPWAN technology finds its integration application areas ranging from connected cars and street lights to manufacturing equipment, wearable devices, and home appliances. Additional factors that are fostering the growth of the LPWAN market include the increasing demand for low cost and low power consumption network technology and LPWAN services from various end-users.
The market proliferation of smart and connected devices alongside the penetration of smart wearable devices such as smart watches & bands and smart glasses propels the growth of the market. Also, the proliferation of IoT and IIoT across the industries and the rapid industrialization are some of the significant factors impacting the growth of the market, positively.
Increasing penetration of web-based applications alongside government funding for secured and centrally connected network provide a considerable impetus to market growth.
Besides, the increasing number of enterprises and the growing uptake of cloud-based services by these enterprises support market growth. Also, the rising number of connecting workforce solutions, augmenting uptake of BYOD policy in the increasing number of organizations, and the augmenting demand for high-speed data services substantiate the market growth.
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Segmentation:
For a better understanding, the report has been segmented into six key dynamics:
By Connectivity Technology : LoRaWAN, SIGFOX, Weightless, and others.
By Service : Managed and Professional Services among other Services.
By Network Deployment : Private and Public Sector.
By Application : Smart Buildings, Smart Waste Management, Smart Gas & Water Metering, Smart Parking, Smart Streetlights, and Livestock Monitoring among others.
By Vertical : Smart Logistics &Transportation, Agriculture, Healthcare, Oil & Gas, Industrial Manufacturing, and Consumer Electronics among others.
By Regions : Europe, North America, Asia Pacific, and Rest-of-the-World.
Global Low Power Wide Area Network (LPWAN) Market - Geographical Analysis
The European region, heading with the technological advancements and proliferation of intelligent connected devices, dominates the low power wide area network (LPWAN) market, globally. Moreover, factors such as technological advancements and proliferation of smart connected devices impacting the growth of the regional market, positively. The presence of a well-established infrastructure fosters the growth of the market, allowing faster implementation of advanced technologies.
The low power wide area network market in the North American region accounts for the second-largest market, accounting for the hub of enterprises. Besides, factors such as early adoption of innovative technology and the presence of a large number of enterprises offer a favorable platform to the LPWAN technologies to evolve, significantly. The region also perceives higher growth manufacturing processes operations and industrial infrastructure in terms of technological advancements, which, in turn, impacts the growth in the regional market, positively.
Additionally, the presence of major players, rising mobile workforces, and a spurting demand for high-speed data services in the region are some of the key driving forces increasing the size of the LPWAN market in the APAC.
The Asia Pacific LPWAN market accounts for another lucrative market, globally. Factors such as the huge untapped opportunities in the rapidly developing countries that implementing automation and are increasingly adopting cloud services are pushing up the growth of the regional market.
Moreover, factors such as the market penetration of connected mobile devices, the adoption of cloud-based solutions across enterprises, and the growth in the IT sector are fostering the regional market. Simultaneously, the increasing numbers of prominent players in this market drive the market, continually, innovating, and presenting cost-effective secured low power wide area network solutions.
Global LPWAN Market - Competitive Landscape
Fiercely competitive, the LPWAN market appears to be fragmented with the presence of various large and small-scale players. These players substantially invest in transforming the future consumer and business landscape. They incorporate strategic initiatives such as partnership, collaboration, acquisition, expansion, and product/ technology launch to gain a competitive advantage, which helps them to stay ahead in this market.
Major Players:
Key players leading the global low power wide area network market include LORIOT (Switzerland), Semtech Corporation (US), NWave Technologies (London), WAVIoT (US), SIGFOX (France), Cisco Systems (US), Weightless SIG (UK), Actility (France), Senet, Inc. (US), Huawei Technologies Co. Ltd. (China), AT&T Inc. (Germany), Ingenu (US), Qualcomm Inc. (US), Link Labs Inc. (US), Vodafone Group Plc. (UK), and Telefonica SA (Spain) among others.
Industry/Innovation/ Related News:
May 22, 2019 --- Senet, Inc. (the US), a leading provider of cloud-based software and services platforms announced the receiving of the award for Best IoT Connectivity Solution at the first-ever IoT World Awards for its patent-pending, Low Power Wide Area Virtual Network (LVN™) solution.
The award strengthens Company’s leadership in delivering global, secure, carrier-grade low power wide area network (LPWAN) connectivity for the widest set of IoT applications.
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