The global low power wide area network market is projected to witness a rapid growth during the forecast period owing to increasing emergence of connected devices and increasing benefits of the internet of things. Moreover, increasing demand for low power wide area network across various industry verticals such as agriculture, smart logistics and transportation, healthcare, industrial manufacturing, oil and gas and consumer electronics is driving the growth of the global market.
The global LPWAN Industry by geography is segmented into North America, Europe, Asia Pacific, and Rest of the World. The Europe market is expected to witness a significant growth and hold the largest share of the global market during the forecast period. The growth in Europe is attributed to the presence of large number of established key players such as AT&T Inc. and Telefonica SA in this region. Due to the sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future. Additionally, Europe also has a well-established infrastructure, which allows higher penetration of devices and ultimately provides better connectivity. The growth in the market is also attributed to increasing focus of business organizations towards implementation of low power consumption technologies and growing adoption of IoT/M2M applications across various industry verticals.
CRM helps in enhancing the implementation of a digital marketing strategy. In the global Low Power Wide Area Network market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the growing focus on customer engagement and increasing implementation of cloud-based technologies across different countries in the region.
The global Low Power Wide Area Network Market is Projected to Reach USD 68 million at a CAGR of over 62.27% by the end of the forecast period 2017-2023.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Low Power Wide Area Network Market Research Report-Forecast to 2023”.
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Low Power Wide Area Network Market – Segments
The report is segmented into six dynamics;
By Connectivity Technology: SIGFOX, LoRaWAN, Weightless, and others.
By Service: Managed and Professional Services.
By Network Deployment: Private sectors and Public sectors.
By Application: Smart Buildings, Smart Gas & Water Metering, Smart Waste Management, Smart Parking, Smart Streetlights, Livestock Monitoring, and others.
By Vertical: Smart Logistics & Transportation, Agriculture, Healthcare, Industrial Manufacturing, Oil & Gas, Consumer Electronics, and others.
By Regions: Europe, North America, APAC, and Rest-of-the-World.
Global Low Power Wide Area Network Market – Regional Analysis
Europe dominates the global low power wide area network market. The region has a large number of enterprises and early adopters of innovative technologies, offering a favorable platform for LPWAN to evolve significantly. Besides, the largest market share attributes to technological advancements and the proliferation of intelligent connected devices.
Moreover, the presence of several key industry players and well-established infrastructures fosters market growth, allowing faster implementation of advanced technologies. The region perceives vast developments in manufacturing processes and industrial infrastructure. Also, factors such as rising mobile workforces and a spurting demand for high-speed data services act as key driving forces for the market.
Asia Pacific is another lucrative market for low-power wide-area networks globally. Factors such as increasing opportunities in developing countries and inclination towards automation and cloud services drive the market growth.
Additionally, the proliferation of mobile devices, wide adoption of cloud-based solutions among SME & large enterprises, and developments in the IT sector foster the regional market growth. Increasing numbers of key technology providers who constantly innovate to present cost-effective secured low-power WAN solutions drive the market growth.
Global LPWAN Market – Competitive Analysis
Fiercely competitive, the LPWAN market appears to be fragmented with the presence of various large and small-scale players. Leading industry players make substantial investments to transform the consumer and business landscape. They incorporate strategic initiatives such as collaboration, partnership, acquisition, product & technology launch, and expansion to gain a competitive edge staying ahead in this market.
Players leading the global low power wide area network market include LORIOT (Switzerland), Semtech Corporation (US), NWave Technologies (London), WAVIoT (US), SIGFOX (France), Cisco Systems (US), Weightless SIG (UK), Actility (France), Senet, Inc. (US), Huawei Technologies Co. Ltd. (China), AT&T Inc. (Germany), Ingenu (US), Qualcomm Inc. (US), Link Labs Inc. (US), Vodafone Group Plc. (UK), and Telefonica SA (Spain), among others.
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LPWAN Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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