The rising popularity of smart cities is expected to proliferate the low power wide area network market
The low power wide area network market is expected to register a CAGR of around 78% over the period of 2022-2028. Owing to the growing adoption of IoT devices, low cost and power consumption are the major drivers of the low power wide area network market. A low-power wide-area network is a type of wireless telecommunication wide area network designed to allow long-range communications at a low bit rate among things, such as sensors operated on a battery. Furthermore, lower power wide area network offers a longer range from 5km to 30km, and it consumes very low power and has a longer lifetime.
According to UnivDatos Market Insights (UMI)’
research report “low power
wide area network market”, the market is expected
to witness robust growth of 78% during the forecast period 2022-2028F.
Low power wide area network market provides longer range
from 5km to 30km, they consume low power hence provide longer lifetime. Furthermore,
low power wide area network market requires few numbers of APs i.e. (BSs or
Gateways), to cover larger distances across the city or country. It also provides
a signal that offers a high amount of penetration through walls and building
basements. Moreover, the growing adoption of IoT devices, low cost and power
consumption, and easy implementation are the major driving factors of the low
power wide area network market.
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Based on the technology type,
the market is
segmented into SIGFOX, LoRaWAN, weightless, and others. LoRaWAN segment is
expected to grow with a considerable CAGR during the forecast period. LoRaWAN provides various different functionalities such as
bi-directionality, security, mobility, and accurate localization that are not
addressed by other LPWAN technologies. These benefits will enable the diverse
use cases and business models that will grow the demand for LPWAN IoT networks
globally.
Based on services,
the market is
segmented into professional and managed services. The managed service segment is
expected to grow significantly during the forecast period. The managed services
make the IT expenses more predictable. The costs are neatly packaged into a set
amount paid on an annual or monthly basis. Furthermore, the costs of repairs
are covered under maintenance which makes it a cheaper and more convenient
option to implement. Furthermore, these managed service providers
leverage best-in-class satellite and cellular network partnerships to provide
high-end managed services to application providers, system integrators, and end-users.
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Based on deployment, the market is segmented into
private and public sectors. The public sector is expected to grow with a
considerable CAGR during the forecast period, Owing to its wide variety of
applications in government enterprises. Municipal authorities are focusing on
developing their public infrastructures such as smart cities to improve
citywide services like trash, parking, streetlights, water meters and leak
detectors, and more.
Based
on industry vertical, the market is segmented into
agriculture, smart logistics and transportation, healthcare, industrial
manufacturing, oil and gas, consumer electronics, and others. The oil and gas
segment is expected to grow at a significant CAGR. It provides various benefits
such as plant automation, process optimization, supply chain optimization,
increased safety, integrated business processes, and corporate social
responsibility.
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Asia Pacific to witness extensive growth
The Asia Pacific
region is expected to hold a significant share of the low power wide area
network market. China, Japan, India, and Australia are the most potential
countries adopting low power-wide area networks. A sweeping change has
transformed the low power wide area network modules industry in the past years
in the region. The rising demand for smart cities, and also the growing demand
for low-cost technologies and long-range wireless coverage with a small number
of gateways are contributing to the growth of the low power wide area network
market in the region.
According to UnivDatos Market Insights (UMI)’,
the key players with a considerable market share in the low power wide area
network market are Semtech
Corporation, LORIOT, NWave Technologies, SIGFOX, WAVIoT, Cisco Systems,
Actility, Weightless SIG, Senet, Inc., AT&T Inc. are some of the key players in the market
“low
power wide area network market” provides comprehensive qualitative and quantitative insights on
the industry potential, key factors impacting sales and purchase decisions,
hotspots, and opportunities available for the market players. Moreover, the
report also encompasses the key strategic imperatives for success for
competitors along with strategic factorial indexing measuring competitors’
capabilities on different parameters. This will help companies in the
formulation of go-to-market strategies and identifying the blue ocean for its
offerings.
Market Segmentation:
1.
By Technology Type (SIGFOX,
LoRaWAN, Weightless, Others)
2. By
Services (Professional, Managed)
3. Deployment
(Private, Public)
4.
By Application (Waste
Management, Smart buildings, Smart gas and water metering, smart streetlights,
smart parking, livestock monitoring, Others.)
5. By
Industry Vertical (agriculture, smart logistics and transportation,
healthcare, industrial manufacturing, oil and gas, consumer electronics, and
others)
6.
By Region (North
America, Europe, Asia-Pacific, Rest of the World)
7.
By Company Semtech
Corporation, LORIOT, NWave Technologies, SIGFOX, WAVIoT, Cisco Systems,
Actility, Weightless SIG, Senet, Inc., AT&T Inc.
Key
questions answered in the study:
1. What
are the current and future trends of the global low power wide area network industry?
2. How
the industry has been evolving in terms of technology and application?
3. How
the competition has been shaping across the countries followed by their
comparative factorial indexing?
4. What
are the key growth drivers and challenges for the global low power wide area
network industry?
5.
What is the customer
orientation, purchase behavior, and expectations from the global low power wide
area network suppliers across various region and countries?
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