Low-power wide-area network (LPWAN) refers to a specific type of network that enables low bit-rate, long-distance communication. It is a wireless technology that connects low-power devices over considerable distances at slow data speeds. Devices that need a lot of battery life and can send data over large distances are expected to benefit from low-cost, low-power, and wide-area connection provided by LPWANs. In addition, decline in LPWAN technology costs is anticipated to drive the market for low power wide area network growth. Due to the rise in demand for low-power wide area connectivity for Internet of Things devices, the LPWAN market is anticipated to expand rapidly in upcoming years. Agriculture, healthcare, logistics, and transportation are a few industries that implement the LPWAN technology. The development of smart cities and smart buildings is expected to present more opportunities for the low power wide area network market to expand in the upcoming years. The lack of global LPWAN standards, however, is anticipated to impede the expansion of the market for low power wide area networks in the near future.
Moreover, factors such as Increase in demand for smart city initiatives and real-time monitoring and control of assets primarily drive the growth of the low power WAN market. However, security concerns with limited band width hamper the market growth. Additionally, Increase in demand for smart agriculture is expected to provide lucrative opportunities for the market growth during the forecast period.
On the basis of technology, LoRaWAN segment dominated the low power wide area network market size in 2022, and is expected to maintain its dominance in the upcoming years owing to growing need for low-cost, low-power connectivity solutions, which LoRaWAN technology offers, as IoT devices and applications are used more widely propels the market growth significantly. However, NB-IoT segment is expected segment is expected to witness highest growth, owing the advancement of NB-IoT technology has given cellular network operators access to brand-new commercial prospects.
North America is anticipated to account for the largest share of the low power wide area network market growth during the forecast period, owing to presence of a substantial industrial base in the U.S., government initiatives to promote innovation, and large purchasing power. The growth is primarily concentrated in the U.S. Companies owing to rise in demand for mobile and wearable devices and growing need for IoT devices in North America is one of the main potentials for LPWAN. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period, owing to factors such as urbanization, industrialization, rise in need for automation and digitalization. IoT applications in industries Including smart cities, agriculture, logistics, and healthcare are perfect for LPWAN technology.
The low power wide area network market is segmented on the basis of technology, application, end user, and region. On the basis of technology, it is segregated into LoRaWAN, NB-IoT, Sigfox, and others. On the basis of application, it is divided into smart building, smart agriculture, smart waste management, smart gas and water monitoring, smart parking, and others. On the basis of end user, it is divided into oil and gas, industrial manufacturing, agriculture, consumer electronics, transportation and logistics, healthcare, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global low power wide area network industry is dominated by key players such as Semtech Corporation, Loriot Ag, Nwave, Sigfox, Waviot, Actility, Ingenu Inc., Link Labs, Senet, ATandT Intellectual Property. These players have adopted various strategies to Increase their market penetration and strengthen their position in low power wide area network industry.
Moreover, factors such as Increase in demand for smart city initiatives and real-time monitoring and control of assets primarily drive the growth of the low power WAN market. However, security concerns with limited band width hamper the market growth. Additionally, Increase in demand for smart agriculture is expected to provide lucrative opportunities for the market growth during the forecast period.
On the basis of technology, LoRaWAN segment dominated the low power wide area network market size in 2022, and is expected to maintain its dominance in the upcoming years owing to growing need for low-cost, low-power connectivity solutions, which LoRaWAN technology offers, as IoT devices and applications are used more widely propels the market growth significantly. However, NB-IoT segment is expected segment is expected to witness highest growth, owing the advancement of NB-IoT technology has given cellular network operators access to brand-new commercial prospects.
North America is anticipated to account for the largest share of the low power wide area network market growth during the forecast period, owing to presence of a substantial industrial base in the U.S., government initiatives to promote innovation, and large purchasing power. The growth is primarily concentrated in the U.S. Companies owing to rise in demand for mobile and wearable devices and growing need for IoT devices in North America is one of the main potentials for LPWAN. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period, owing to factors such as urbanization, industrialization, rise in need for automation and digitalization. IoT applications in industries Including smart cities, agriculture, logistics, and healthcare are perfect for LPWAN technology.
The low power wide area network market is segmented on the basis of technology, application, end user, and region. On the basis of technology, it is segregated into LoRaWAN, NB-IoT, Sigfox, and others. On the basis of application, it is divided into smart building, smart agriculture, smart waste management, smart gas and water monitoring, smart parking, and others. On the basis of end user, it is divided into oil and gas, industrial manufacturing, agriculture, consumer electronics, transportation and logistics, healthcare, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global low power wide area network industry is dominated by key players such as Semtech Corporation, Loriot Ag, Nwave, Sigfox, Waviot, Actility, Ingenu Inc., Link Labs, Senet, ATandT Intellectual Property. These players have adopted various strategies to Increase their market penetration and strengthen their position in low power wide area network industry.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the low power wide area network market analysis from 2022 to 2032 to identify the prevailing low power wide area network market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the low power wide area network market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global low power wide area network market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Technology
- LoRaWAN
- NB-IoT
- SIGFOX
- Others
By Application
- Smart Building
- Smart Gas and Water Monitoring
- Smart Waste Management
- Smart Agriculture
- Smart Parking
- Others
By End User
- Healthcare
- Others
- Oil and Gas
- Industrial Manufacturing
- Agriculture
- Consumer Electronics
- Transportation and Logistics
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Actility
- AT&T Intellectual Property
- Ingenu Inc.
- Link Labs
- Loriot AG
- Nwave
- Semtech Corporation
- Senet
- Sigfox
- WAVIoT
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: LOW POWER WIDE AREA NETWORK MARKET, BY TECHNOLOGY
CHAPTER 5: LOW POWER WIDE AREA NETWORK MARKET, BY APPLICATION
CHAPTER 6: LOW POWER WIDE AREA NETWORK MARKET, BY END USER
CHAPTER 7: LOW POWER WIDE AREA NETWORK MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Low Power Wide Area Network Market,' The low power wide area network market was valued at $8.2 billion in 2022, and is estimated to reach $582 billion by 2032, growing at a CAGR of 53.4% from 2023 to 2032.Low-power wide-area network (LPWAN) refers to a specific type of network that enables low bit-rate, long-distance communication. It is a wireless technology that connects low-power devices over considerable distances at slow data speeds. Devices that need a lot of battery life and can send data over large distances are expected to benefit from low-cost, low-power, and wide-area connection provided by LPWANs. In addition, decline in LPWAN technology costs is anticipated to drive the market for low power wide area network growth. A specific type of network that guarantees long-distance connectivity at a low bit rate is known as a low-power wide-area network (LPWAN). LPWAN outperforms the available technology for building global IoT networks. The rise in need for long-distance connectivity between devices and the expansion of IoT/M2M application usage are the main factors anticipated to propel the growth of the low power wide area network market during the forecast period. The market for low power wide area networks is also expected to develop as a result of decline in power usage. In addition, decline in LPWAN technology costs is predicted to restrain the market for low power wide area networks. The market for low power wide area networks, on the other hand, is anticipated to develop slowly during the forecast period due to increase in data traffic.
Moreover, factors such as increase in demand for smart city initiatives and real-time monitoring and control of assets primarily drive the growth of the low power WAN market. However, security concerns with limited band width hamper the market growth. Additionally, increase in demand for smart agriculture is expected to provide lucrative opportunities for the market growth during the forecast period.
- On the basis of application, smart building segment dominated the low power wide area network market size in 2022, and is expected to maintain its dominance in the upcoming years, owing to increase in the trend of data analytics and automation in several industries is proliferating the demand for low power WAN in smart buildings.Smart buildings consist of various smart devices that need wireless connections to integrate them. Such factors enable consumers to select technologies such as low power WAN. Moreover, increase in the demand for control systems and sensor-based devices in smart buildings is the major factor that boosts the demand for low power WAN solutions. However, smart waste management segment is expected segment is expected to witness highest growth, owing to rise in need for new solutions for better waste management due to increase in smart city and IoT. These solutions are mostly deployed in rural areas, but require building low-cost and low power consumption networks, which can be used by different applications. The initiative to provide better connectivity and security measures for mitigation is expected to drive the market growth during the forecast period.
The pandemic led to reduced demand for LPWAN solutions in some industries such as retail, hospitality, and transportation, which have been severely impacted by lockdowns and travel restrictions, thus resulting in lower revenue and profitability for LPWAN vendors. The pandemic disrupted the global supply chain, causing delays and shortages in the delivery of components and equipment needed for LPWAN solutions. This resulted in higher costs and lower productivity for LPWAN vendors. COVID-19 caused economic uncertainties, which affected the investment decisions of customers and investors in the LPWAN market, which resulted in lower investment and slower growth for LPWAN vendors. Furthermore, the pandemic led to a shift in customer priorities, with a greater focus on cost-effectiveness, sustainability, and contactless solutions. LPWAN vendors need to adapt to these changing priorities to remain competitive and relevant in the market.
Key Findings of the Study
- By technology, the LoRaWAN segment dominates the low power wide area network market in terms of revenue in 2022.
- By application, the smart building segment dominated the low power wide area network market size in 2022.
- On the basis of end user, healthcare is the fastest growing segment with highest CAGR for low power wide area network market.
- Region-wise, North America generated the highest revenue in 2022.
Companies Mentioned
- Actility
- AT&T Intellectual Property
- Ingenu Inc.
- Link Labs
- Loriot AG
- Nwave
- Semtech Corporation
- Senet
- Sigfox
- WAVIoT
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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