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 expansion observed in the historical period can be credited to the adoption of low-power wide-area network (LPWAN) technologies in various domains, including wildlife tracking and conservation. Additionally, the rise of Industry 4 initiatives, the emergence of LPWAN-based security systems, increased use of LPWAN for asset monitoring, and its application in air quality monitoring have contributed significantly to this growth.
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 anticipated growth in the forecast period can be ascribed to the increasing need for Internet of Things (IoT) connectivity, a rising demand for long-range, low-power connectivity solutions, and the expanding footprint of LPWAN into smart agriculture. Additionally, the forecast period is expected to witness a surge in the adoption of smart city solutions and the growth of smart metering applications. Noteworthy trends in this period encompass strategic collaborations, the broader application of LPWAN in agricultural IoT, the integration of LPWAN with edge computing, the extension of LPWAN into fleet management solutions, and its integration with renewable energy systems.
The surge in smart metering applications is poised to drive the growth of the low power wide area network (LPWAN) market. Smart metering applications involve the deployment of advanced metering technology, often incorporating IoT connectivity and data analytics, to monitor and optimize real-time energy consumption. This trend is gaining momentum as industries and residential sectors increasingly demand efficient, cost-effective, and sustainable energy consumption practices. LPWAN plays a crucial role in this landscape by providing efficient, long-range connectivity for smart meters, optimizing communication, and extending battery life in smart metering applications. For instance, data from November 2022, as reported by the Department for Business, Energy, and Industrial Strategy (BEIS), a UK-based government department, indicated substantial growth in the installation of smart meters by large suppliers. In the third quarter of 2022, 836,800 domestic and 44,900 non-domestic smart meters were installed, reflecting an increase of 21,900 and 16,400 units, respectively, compared to the second quarter of 2022. This underscores the pivotal role of LPWAN in facilitating the expansion of smart metering applications.
Leading companies in the low-power wide area network (LPWAN) market are intensifying their efforts to develop cutting-edge products, such as next-generation LPWAN modules, to gain a competitive advantage. These modules, representing advanced wireless communication devices, offer improved performance, energy efficiency, and connectivity for IoT and smart devices. In a notable development, Telit Cinterion, a US-based IoT solutions provider, unveiled a 5G LPWA module portfolio in February 2023. These modules, featuring Sony's Altair ALT1350 chipset, boast high-speed data transfer capabilities, low power consumption, and a compact form factor, catering to a diverse range of applications. Specifically designed to meet the unique requirements of the 5G LPWA massive IoT market, these modules offer ultra-low power consumption, an AI engine for edge processing, indoor and outdoor positioning technologies, and a sensor hub for comprehensive data collection.
In April 2022, UnaBiz, a Singapore-based IoT services company, completed the acquisition of Sigfox for an undisclosed amount. This strategic move positions UnaBiz to enhance its foundation, foster collaboration and convergence with other IoT technologies, including LPWAN, and extend its global operations. Sigfox, based in France, is a key player providing low-power wide area networks (LPWAN) and IoT communication services.
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.
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. The countries covered in the low power wide area network (lpwan) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Low Power Wide Area Networks (LPWANs) are wireless communication technologies specifically engineered to provide extended-range connectivity while minimizing power consumption, making them particularly well-suited for Internet of Things (IoT) applications. These networks excel in transmitting modest amounts of data across substantial distances, especially in remote or demanding environments.
The primary low-power wide-area network (LPWAN) technologies comprise Long-Range Wide-Area Networks (LoRaWAN), Narrowband Internet of Things (NB-IoT), Sigfox, and other variants. LoRaWAN, a communication protocol tailored for LPWANs, encompasses various deployment models, including on-premise and cloud solutions, catering to applications such as smart building management, intelligent gas and water monitoring, efficient waste management, precision agriculture, and smart parking systems. This technology finds application across diverse industries, including healthcare, oil and gas, industrial manufacturing, agriculture, consumer electronics, transportation and logistics, among others.
The low power wide area network (LPWAN) market research report is one of a series of new reports that provides low power wide area network (LPWAN) market statistics, including low power wide area network (LPWAN) industry global market size, regional shares, competitors with a low power wide area network (LPWAN) market share, detailed low power wide area network (LPWAN) market segments, market trends and opportunities, and any further data you may need to thrive in the low power wide area network (LPWAN) industry. This low power wide area network (LPWAN) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The low power wide area network (LPWAN) market includes revenues earned by entities by providing services such as connectivity solutions for IoT devices, network infrastructure deployment and management, data analytics and insights, and consulting and support services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
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 anticipated growth in the forecast period can be ascribed to the increasing need for Internet of Things (IoT) connectivity, a rising demand for long-range, low-power connectivity solutions, and the expanding footprint of LPWAN into smart agriculture. Additionally, the forecast period is expected to witness a surge in the adoption of smart city solutions and the growth of smart metering applications. Noteworthy trends in this period encompass strategic collaborations, the broader application of LPWAN in agricultural IoT, the integration of LPWAN with edge computing, the extension of LPWAN into fleet management solutions, and its integration with renewable energy systems.
The surge in smart metering applications is poised to drive the growth of the low power wide area network (LPWAN) market. Smart metering applications involve the deployment of advanced metering technology, often incorporating IoT connectivity and data analytics, to monitor and optimize real-time energy consumption. This trend is gaining momentum as industries and residential sectors increasingly demand efficient, cost-effective, and sustainable energy consumption practices. LPWAN plays a crucial role in this landscape by providing efficient, long-range connectivity for smart meters, optimizing communication, and extending battery life in smart metering applications. For instance, data from November 2022, as reported by the Department for Business, Energy, and Industrial Strategy (BEIS), a UK-based government department, indicated substantial growth in the installation of smart meters by large suppliers. In the third quarter of 2022, 836,800 domestic and 44,900 non-domestic smart meters were installed, reflecting an increase of 21,900 and 16,400 units, respectively, compared to the second quarter of 2022. This underscores the pivotal role of LPWAN in facilitating the expansion of smart metering applications.
Leading companies in the low-power wide area network (LPWAN) market are intensifying their efforts to develop cutting-edge products, such as next-generation LPWAN modules, to gain a competitive advantage. These modules, representing advanced wireless communication devices, offer improved performance, energy efficiency, and connectivity for IoT and smart devices. In a notable development, Telit Cinterion, a US-based IoT solutions provider, unveiled a 5G LPWA module portfolio in February 2023. These modules, featuring Sony's Altair ALT1350 chipset, boast high-speed data transfer capabilities, low power consumption, and a compact form factor, catering to a diverse range of applications. Specifically designed to meet the unique requirements of the 5G LPWA massive IoT market, these modules offer ultra-low power consumption, an AI engine for edge processing, indoor and outdoor positioning technologies, and a sensor hub for comprehensive data collection.
In April 2022, UnaBiz, a Singapore-based IoT services company, completed the acquisition of Sigfox for an undisclosed amount. This strategic move positions UnaBiz to enhance its foundation, foster collaboration and convergence with other IoT technologies, including LPWAN, and extend its global operations. Sigfox, based in France, is a key player providing low-power wide area networks (LPWAN) and IoT communication services.
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.
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. The countries covered in the low power wide area network (lpwan) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Low Power Wide Area Networks (LPWANs) are wireless communication technologies specifically engineered to provide extended-range connectivity while minimizing power consumption, making them particularly well-suited for Internet of Things (IoT) applications. These networks excel in transmitting modest amounts of data across substantial distances, especially in remote or demanding environments.
The primary low-power wide-area network (LPWAN) technologies comprise Long-Range Wide-Area Networks (LoRaWAN), Narrowband Internet of Things (NB-IoT), Sigfox, and other variants. LoRaWAN, a communication protocol tailored for LPWANs, encompasses various deployment models, including on-premise and cloud solutions, catering to applications such as smart building management, intelligent gas and water monitoring, efficient waste management, precision agriculture, and smart parking systems. This technology finds application across diverse industries, including healthcare, oil and gas, industrial manufacturing, agriculture, consumer electronics, transportation and logistics, among others.
The low power wide area network (LPWAN) market research report is one of a series of new reports that provides low power wide area network (LPWAN) market statistics, including low power wide area network (LPWAN) industry global market size, regional shares, competitors with a low power wide area network (LPWAN) market share, detailed low power wide area network (LPWAN) market segments, market trends and opportunities, and any further data you may need to thrive in the low power wide area network (LPWAN) industry. This low power wide area network (LPWAN) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The low power wide area network (LPWAN) market includes revenues earned by entities by providing services such as connectivity solutions for IoT devices, network infrastructure deployment and management, data analytics and insights, and consulting and support services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Low Power Wide Area Network (LPWAN) Market Characteristics3. Low Power Wide Area Network (LPWAN) Market Trends and Strategies32. Global Low Power Wide Area Network (LPWAN) Market Competitive Benchmarking33. Global Low Power Wide Area Network (LPWAN) Market Competitive Dashboard34. Key Mergers and Acquisitions in the Low Power Wide Area Network (LPWAN) Market
4. Low Power Wide Area Network (LPWAN) Market - Macro Economic Scenario
5. Global Low Power Wide Area Network (LPWAN) Market Size and Growth
6. Low Power Wide Area Network (LPWAN) Market Segmentation
7. Low Power Wide Area Network (LPWAN) Market Regional and Country Analysis
8. Asia-Pacific Low Power Wide Area Network (LPWAN) Market
9. China Low Power Wide Area Network (LPWAN) Market
10. India Low Power Wide Area Network (LPWAN) Market
11. Japan Low Power Wide Area Network (LPWAN) Market
12. Australia Low Power Wide Area Network (LPWAN) Market
13. Indonesia Low Power Wide Area Network (LPWAN) Market
14. South Korea Low Power Wide Area Network (LPWAN) Market
15. Western Europe Low Power Wide Area Network (LPWAN) Market
16. UK Low Power Wide Area Network (LPWAN) Market
17. Germany Low Power Wide Area Network (LPWAN) Market
18. France Low Power Wide Area Network (LPWAN) Market
19. Italy Low Power Wide Area Network (LPWAN) Market
20. Spain Low Power Wide Area Network (LPWAN) Market
21. Eastern Europe Low Power Wide Area Network (LPWAN) Market
22. Russia Low Power Wide Area Network (LPWAN) Market
23. North America Low Power Wide Area Network (LPWAN) Market
24. USA Low Power Wide Area Network (LPWAN) Market
25. Canada Low Power Wide Area Network (LPWAN) Market
26. South America Low Power Wide Area Network (LPWAN) Market
27. Brazil Low Power Wide Area Network (LPWAN) Market
28. Middle East Low Power Wide Area Network (LPWAN) Market
29. Africa Low Power Wide Area Network (LPWAN) Market
30. Low Power Wide Area Network (LPWAN) Market Competitive Landscape and Company Profiles
31. Low Power Wide Area Network (LPWAN) Market Other Major and Innovative Companies
35. Low Power Wide Area Network (LPWAN) Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Low Power Wide Area Network (LPWAN) Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on low power wide area network (LPWAN) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
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- Measure the impact of high global inflation on market growth.
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- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for low power wide area network (LPWAN) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The low power wide area network (LPWAN) market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
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.
Key Companies Mentioned: Amazon Web Services Inc.; Google LLC; Microsoft Corporation; Huawei Technologies Co. Ltd.; Intel Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | April 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 16.24 Billion |
| Forecasted Market Value ( USD | $ 90.67 Billion |
| Compound Annual Growth Rate | 53.7% |
