LPWAN Market size worth over USD 80 Bn by 2027

Low Power Wide Area Network (LPWAN) Market size is set to surpass USD 80 billion by 2027, according to a new research report by Global Market Insights, Inc.
 

LPWAN technology is widely used to support IoT-based data transmission and management. The technology supports M2M applications that need to transmit a small amount of data over a long-range through low-power consumption. The increasing demand for agile back-end infrastructure components to handle rapidly generated and transmitted data is contributing to the demand for LPWAN solutions and services. They operate with greater power efficiency and at a low-cost compared to traditional cellular networks.

 

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Growing adoption of IoT devices across organizations to automate business processes will propel the market growth

The rising acceptance of IoT applications to enhance production and operational efficiencies is likely to boost the LPWAN market growth. With the rapidly growing number of IoT devices, the demand for cost-efficient, low-power, and scalable cellular coverage is increasing consistently among enterprises. The LPWAN technology features a robust approach in IoT-based data transmission and management. These technology capabilities are driving demand from enterprises engaged in IoT applications.
 

UK LPWAN Market Revenue

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Increasing demand to improve Machine-to-Machine (M2M) connectivity will enable the demand for LoRaWAN solutions

The LoRaWAN segment is anticipated to dominate over 2021 to 2027. The expansive penetration of IoT devices and rising need for technology to support M2M communication are enabling the demand for LoRaWAN platforms. The platforms work as dedicated technology to facilitate secure high-speed data transmission in IoT networks. The increasing emphasis on LPWAN deployments and IoT integrations by market enterprises is further fueling the demand for LoRaWAN platform solutions.
 

Industry-wide digitization is propelling Browse key industry insights spread across 300 pages with 478 market data tables and 30 figures & charts from the report, “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), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/low-power-wide-area-network-lpwan-market
 

The demand for cloud deployments of LPWAN solutions & services

Cloud deployment segment is projected to observe an exponential growth through 2027. The growing digitization across enterprises in multiple industry verticals is poised to fuel the LPWAN market growth. The cloud deployment of low-power WAN solutions helps enterprises in managing their business infrastructure cost-effectively. Additionally, the zero-touch provisioning mechanism and reduced operational expenditure are supporting the market growth.
 

A rise in demand for robust network connectivity across large-scale & dense environments

The smart building application segment accounted for around 10% of the LPWAN market revenue share in 2020 propelled by the need to provide connectivity in large & dense environments and to support with efficient energy. LPWAN technologies help in the remote monitoring of smart building operations in commercial & residential buildings. Moreover, the rising demand to ensure smart building IoT connectivity is expected to drive the demand for diverse solutions & services.
 

Increasing digitization and need for robust technology solutions in mission-critical application across government & public sector

The government & public sector end-use segment is estimated to see significant growth of above 60% CAGR through 2027. The LPWAN technology solutions help agencies to achieve greater network visibility, provide wide coverage for deploying mission-critical applications. Several public sector enterprises also emphasize on diverse low-power WAN solutions to support IoT infrastructure.
 

Increasing digitization and IoT adoption to drive the APAC market revenue

In the LPWAN market, the demand for LPWAN technology solutions & services across Asia Pacific is set to grow significantly through 2027. The extensive adoption of IoT devices and wireless infrastructure solutions is contributing to the market demand. According to the GSMA Intelligence’s Mobile economy Report 2020, in 2019, there were 3.63 billion IoT connections in China. Moreover, the increasing smart city infrastructure developments across China, India, and Japan will further drive the market expansion.
 

Focus on inorganic growth strategies by key players to augment market share

The LPWAN industry has witnessed several new product development and portfolio innovation through strategic partnerships. For instance, in February 2019, Senet, Inc. entered into a global agreement with Arrow Electronics, a global technology solutions provider. Through this collaboration, Arrow Electronics’ cloud platform offers pre-configured low-powered WAN gateways to operate on Senet’s network infrastructure. This further allowed application providers and end customers to shorten their deployment cycles.
 

Some of the key players operating in the LPWAN market include Actility, AT&T Inc., Avnet, Inc., Cisco Systems, Inc., CONNIT, Huawei Technologies Co., Ltd., Ingenu Inc., Kerlink, Link Labs, LORIOT.IO, Nwave, Orange Business Services, Qualcomm Technologies, Inc., Semtech Corporation, Senet, Inc., Sierra Wireless, Sigfox, Verizon Communications, Inc., Vodafone Group Plc, and WavIoT.
 

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