Low Power Wide Area Network (LPWAN) Market to Reach
WASHINGTON, 09 Feb. 2022 (GLOBE NEWSWIRE) — The global low-power wide area network market size is expected to reach over USD 675.75 billion by 2028, growing at a CAGR of 65% during the forecast period.
Growing demand for long-range, low-cost connectivity options among associations is expected to drive industry growth. Standardized by 3GPP, low-power WAN technologies provide wide-range connectivity to Internet of Things devices and reduce their power consumption. Since these devices can transfer small amounts of information at a time and mostly require low speed, low-power wide area network technologies including NB-IoT, LoRa, and Sigfox are widely used to meet wireless network requirements. , says Vantage Market Research, in a report titled: “Low-Power Wide Area Network Market by Technology Type (SIGFOX, LoRaWAN, Weightless, Others), by Deployment Model (On-Premise, Cloud), by Application (Industrial, Smart Buildings, Smart Parking, Precision Agriculture), by Users (Healthcare, Agriculture, Logistics & Transportation, Manufacturing, Government), by Region (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America) – Global Industry Assessment (2016 – 2021 ) and forecast (2022 – 2028)”.
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List of Key Players of Low Power Wide Area Network Market:
- LORIOT (Switzerland)
- Semtech Corporation (California)
- NWave Technologies (London)
- WAVIOT (USA)
- SIGFOX (France)
- Ingenu (USA)
- Activity (France)
- GIS in weightlessness
- Link Labs (USA)
- Senet, Inc. (Portsmouth)
- Vodafone (UK)
- Orange (France)
Driver: Growing adoption of new technologies
The key factor fueling the growth of the low power wide area network market is the surge in the adoption of machine-to-machine communication and the falling cost associated with its system is likely to fuel the demand in the industry . Market application with Internet of Things (IoT) is also a key factor that is positively fueling the growth of low power wide area network market. Besides, it also offers low data rate and long battery life features.
Opportunity: expanding health care in South Africa
In South Africa, the healthcare sector is expected to grow significantly over the forecast period. The growing adoption of IoT in healthcare associations is increasing the demand for a reliable communication infrastructure that supports the connectivity of IoT devices. Nonprofits face challenges associated with device battery drain issues and network connectivity issues. These determinants facilitate the adoption of Low Power Wide Area devices, which helps them track and connect devices efficiently. IoT solutions are likened to LoRa-based gateways and sensors to audit high-risk systems or patients to ensure patient safety.
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North America led the market share and is expected to continue the same trend over the forecast period. The development of smart manufacturing, growing demand for smart cities, and growing number of connected and wearable devices are driving the growth of the market. Growing market demand for smart parking management systems, smart buildings, and precision agriculture are also contributing substantially to the low-power wide area network market. As precision agriculture requires contact between sensor-based devices cost-effectively over a long distance, the market is increasingly being tapped to power efficient precision agriculture applications.
The COVID-19 outbreak has affected various industries around the world. Governments around the world have implemented strict containment measures and social distancing norms to limit the rapid spread of the pandemic. Manufacturing plants around the world were shut down during the early stages of the pandemic. In addition, the post-pandemic economic crisis could lead to a significant delay in the commercial deployment of the low-power wide area network market. Therefore, market participants faced many challenges when disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies come online. The impact of COVID-19 on market demand is considered while estimating the current and forecasted market size and market growth trends for all regions and countries based on points of following data:
- Assessment of the impact of the COVID-19 pandemic
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Quarterly Market Revenue Forecast by Asia-Pacific 2020 and 2021
- Key strategies companies are undertaking to fight COVID-19
- Long-term dynamics
- Short-term dynamics
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The Low Power Wide Area Network Market Highlights Report:
● Market assessment
● Premium Information
● Competitive landscape
● COVID impact analysis
● Historical data, estimates and forecasts
● Business Profiles
● Global and regional dynamics
Answers to key questions in the report:
- Which regional market will show the highest and fastest growth?
- Who are the Top Five Low Power Wide Area Network Market Players?
- How will the low-power wide area network market change over the next six years?
- Which application and product will take the lion’s share of the low-power wide area network market?
- What are the drivers and restraints of Low Power Wide Area Network Market?
- What will be the CAGR and size of the Low Power Wide Area Network market throughout the forecast period?
This market titled “Low Power Wide Area Network Market” will cover exclusive insights in terms of Regional Analysis, Forecast and Quantitative Data – Units, Key Market Trends and various others as mentioned below:
|Market size in 2021||$12.81 billion|
|Market size forecast in 2028||$675.75 billion|
|CAGR growth rate||CAGR of 65% From 2022 to 2028|
|Year of reference||2021|
|Historical years||2016 – 2020|
|Forecast years||2022 – 2028|
|Segments Covered||Technology Type:- SIGFOX, LoRaWAN, Weightless
Deployment Model:- On Premise, Cloud
Application: – Industrial and smart buildings, smart parking
End users:- Health, agriculture, logistics and transport
|Quantitative Data – Units||Revenue in USD Million/Billion and CAGR from 2022 to 2028|
|Regions covered||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Countries covered||United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others|
|Report cover||Market Growth Drivers, Restraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Market Attractiveness Analysis by Segments and Regions, Market Share Analysis of business and analysis of the impact of COVID-19.|
Browse market data tables and figures spread over 210 pages and a detailed table of contents at “Low-Power Wide Area Network Market by Technology Type (SIGFOX, LoRaWAN, Weightless, Others), by Deployment Model (On-Premise, Cloud), by Application (Industrial, Smart Buildings, Smart Parking, Precision Agriculture), by Users (Healthcare, Agriculture, Logistics & Transportation, Manufacturing, Government), by Region (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America) – Global Industry Assessment (2016 – 2021 ) and forecast (2022 – 2028)”. See detailed research report here – https://www.vantagemarketresearch.com/press-release/low-power-wide-area-network-market-154117
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