According to Market Research Future (MRFR)’s latest report, the global low power wide area network market has been projected to gain quick mileage and strike a CAGR of 72% during the forecast period 2017 to 2023. The assessment report also indicates that the global market is poised to scale valuation of USD 75 Bn towards the end of 2023. Lower power wide area network (LPWAN) facilitates the deployment and operations of IoT and M2M systems at a lower cost while assuring high power efficiency. It supports the functioning of quite a large number of connected devices over a huge area.
The growth of IoT and wireless technology is expected to drive the expansion of the low power wide area network market in the forthcoming years. The rising adoption of smart buildings, industrial automation, etc. has unleashed tremendous opportunities for growth into the market. It is anticipated to have a positive influence on the future trajectory of the low power wide area network market in the upcoming years.
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LPWAN can be integrated into cars, wearable devices, manufacturing equipment, etc. Thus, it has developed applications across a wide range of industries and is projected to penetrate more verticals in the foreseeable future. The growth of end-user industries is prognosticated to augment the low power wide area network market over the next couple of years.
Some of the prominent players in the global Low Power Wide Area Network Market are Semtech Corporation (U.S.), LORIOT (Switzerland), NWave Technologies (London), SIGFOX (France), WAVIoT (U.S.), Cisco Systems (U.S.), Actility (France), Weightless SIG (U.K), Senet, Inc. (U.S.), AT&T Inc. (Germany), Huawei Technologies Co. Ltd. (China), Ingenu (U.S.), Link Labs Inc. (U.S.), Qualcomm Inc. (U.S.), Telefonica SA (Spain) and Vodafone Group Plc. (U.K).
In March 2019, BT Group plc, a British multinational telecommunications company, has leveraged its IoT technology for connecting smart water network as a part of the new pilot program with Northumbrian Water.
In March 2019, a worldwide licensee of the MIOTYä LPWAN solutions, Behr Technologies Inc. (BTI), has partnered with PixelMechanics, a leading digital agency that specializes in IIoT lifecycle management, with the aim of improving quality control and production efficiency at manufacturing facilities. The companies are set to utilize a combination of PixelMechanics IoT platform and MIOTY LPWAN technology.
In March 2019, China Shanghai Yangpu government has signed an agreement with Berlin-based non-profit MXC Foundation for the deployment of MXC’s Smart City IoT Standard in Shanghai with its LPWAN.
Low Power Wide Area Network Global Market – Segmentation
The Low Power Wide Area Network Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
- Segmentation by Connectivity Technology: Comprises SIGFOX, LoRaWAN and Others
- Segmentation by Service: Comprises Professional Service and Managed Service.
- Segmentation by Network Deployment: Comprises Private Sector and Public Sector
- Segmentation by Application: Comprises Smart Waste Management, smart building, Smart Gas & Water Metering, Smart Street Light, Smart Parking, livestock monitoring and others
- Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia-Pacific and Rest of the World.
Low Power Wide Area Network Global Market – Regional Analysis
North America is dominating the Global Low Power Wide Area Network Market with the largest market share and is expected to grow over its previous growth records by 2023. This is due to increasing support of the U.S government and investment for the adoption of IOT technology in various industries such as utilities, manufacturing, and healthcare are providing a key growth opportunity for narrowband internet of things market in North America. Low Power Wide Area Network Market in Asia-Pacific market is expected to grow at a substantial CAGR during 2017 to 2023 due to rapid technological advancements and China being the manufacturing hub is dominating the market in Asia-pacific region. Moreover, the increasing investments for smart city projects in Asia Pacific countries is boosting the Low Power Wide Area Network Market. The European market for Low Power Wide Area Network Market is expected to grow at a considerable CAGR (2017-2023).
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- Technology Investors
- Research/Consultancy Firms
- Technology Solution Providers
- Government Bodies
- Regulatory Agencies
- Low Power Wide Area Network Solution Providers
- Telecom Operators
- Mobile Network Operators (MNOs)
- Mobile Service Providers (MSPs)
- Original Equipment Manufacturers (OEMs)
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