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Low Power Wide Area Network (LPWAN) Market Size By Component (Platform [Narrowband IoT {NB-IoT}, Long Term Evolution for Machines {LTE-M}, LoRaWAN, Sigfox, Weightless], Services [Professional Service, Managed Service]), By Deployment Model (On-premise, Cloud), By Application (Smart Gas And Water Metering, Asset tracking, Smart Buildings, Smart Parking, Precision Agriculture, Smart Waste Management, Livestock Monitoring), By End-use (Healthcare, Agriculture, Logistics And Transportation, Manufacturing, Utilities, Consumer Electronics, Government And Public Sector), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI674
  • Published Date: Nov 2022
  • Report Format: PDF

Industry Statistics

LPWAN Market size surpassed USD 5 billion in 2022 and is anticipated to grow at around 50% CAGR from 2023 to 2032. The adoption of IoT and other embedded devices continues to surge, driving telecom operators to commercialize low power wide area (LPWA) networks.
 

LPWAN Market

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The lack of uniformity in standards may thus limit their applicability in industrial sectors, where carrier-grade reliability is a prerequisite. Furthermore, service quality issues associated with unlicensed solutions may hinder industry expansion. Despite these challenges, the growing investment in R&D and commercialization of LTE-M and NB-IoT infrastructures will create lucrative growth opportunities for LPWAN providers.

 

Rising IoT connections across industry verticals to promote use of LPWAN platforms

The low power wide area network market from the platform component segment will register more than 50% growth rate through 2032. An increase in IoT connections across industry verticals, such as utilities, retail, transportation, manufacturing, and healthcare, will stimulate the deployment of LPWAN technologies. These platforms can support connected devices that require long-range, low power consumption, and less costs.
 

Complexity of multimodal network management enhance cloud-based LPWAN adoption

The cloud deployment model will exhibit about 55% gains up to 2032. The need for the simplification of IoT implementation to meet business needs is among the major drivers for cloud-based LPWAN demand. The adoption of LPWAN technologies in such devices further increases the complexity of managing multimodal LPWANs and designing IoT applications. Factors such as these thus support the advancement of cloud-based virtual LPWA networks to efficiently manage multimodal communications.
 

Low power wide area networks gain momentum for smart parking applications

U.S. LPWAN Market Share, By Application

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In terms of the application, the smart parking segment held over 10% of the LPWAN market share in 2022, owing to the efficient management of parking assets through LTE-M and NB-IoT technologies. NB-IoT technology, especially, is gaining momentum in this application as it can support long-battery life and provide wide area coverage.
 

Shift to smart agricultural practices to spur low power WAN technology installation

The low power wide area network market from the agriculture end-use segment is set to depict nearly 55% growth through between 2023 and 2032, due to the increasing adoption of AI and IoT technologies for the efficient management of farming operations. Farmers have been applying these technologies in livestock monitoring, fish farming, vehicle tracking on farms, and fuel storage monitoring. In addition, the increasing reliance on smart agriculture practices and IoT installations will accelerate the use of LoRA and other LPWAN technologies in the agriculture sector.
 

Smart city development initiatives to amplify LPWAN technology demand in Europe

Global LPWAN Market Size, By Region

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The Europe LPWAN market size is set to cross USD 80 billion by 2032, given the rapid digital transformation and the popularity of smart manufacturing. Regional governments are also emphasizing the implementation of smart cities equipped with smart traffic control systems, parking systems, buildings, fire detection systems, and water metering. Since these projects are reliant on the use of IoT devices, the steady rise in smart city development efforts across Europe is likely to promote the adoption of LPWAN networks for their long-range and low-power capabilities.
 

Impact of COVID-19 crisis on LPWAN market trends

The COVID-19 outbreak has asserted unprecedented impacts on global healthcare systems, public services, and the economy. However, IoT technology has brought new opportunities for establishing a new normal with use cases in remote device maintenance, COVID-19 testing, and other healthcare applications. Additionally, with the mounting consumption of connected devices to remotely monitor health progress, the deployment of LPWANs will rise to operate IoT networks at greater efficiency.
 

Acquisition initiatives by industry players to define the competitive landscape

Some of the major players operating in the low power wide area network market is inclusive of Ingenu Inc., Actility, Cisco Systems, Inc., AT&T Inc., Huawei Technologies Co., Ltd., LORIOT.IO, Qualcomm Technologies, Inc., Avnet, Inc., Orange Business Services, Vodafone Group Plc, WavIoT, and Verizon Communications Inc., among other companies. These market participants are focusing on strategies including mergers and acquisitions to expand their presence in the industry.
 

This LPWAN market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

Market, By Component

  • Platform
    • NB-IoT
    • LTE-M
    • LoRaWAN
    • Sigfox
    • Weightless
    • Others
  • Service
    • Professional Service
    • Managed Service

Market, By Deployment Model

  • On-premise
  • Cloud

Market, By Application

  • Smart Gas and Water Metering
  • Asset Tracking
  • Smart Buildings
  • Smart Parking
  • Precision Agriculture
  • Smart Waste Management
  • Livestock Monitoring
  • Others

Market, By End-use

  • Healthcare
  • Agriculture
  • Logistics and Transportation
  • Manufacturing
  • Utilities
  • Consumer Electronics
  • Government and Public Sector
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Sweden
    • Netherlands
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • South Korea
    • Southeast Asia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Chile
  • MEA
    • South Africa
    • UAE
    • Israel
    • Saudi Arabia

 

Authors: Preeti Wadhwani, Smriti Loomba

Frequently Asked Questions (FAQ) :

The market size of low power wide area network valued at USD 5 billion in 2022 and is set to depict more than 50% CAGR between 2023 and 2032, due to the growing dependence on IoT-connected devices.

The agriculture end-use segment is likely to exhibit over 55% growth rate through 2032, owing to the increasing adoption of AI and IoT technologies for efficient farming operations.

The Europe LPWAN industry valuation is anticipated to cross USD 80 billion by 2032, considering the rapid digital transformation and the popularity of smart manufacturing.

Key players in the low power wide area network (LPWAN) market include Ingenu Inc., Actility, Cisco Systems, Inc., AT&T Inc., Huawei Technologies Co., Ltd., Avnet, Inc., Vodafone Group Plc, WavIoT, and Verizon Communications Inc., among others.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 20
  • Tables & Figures: 513
  • Countries covered: 24
  • Pages: 310

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