Low Power Wide Area Network (LPWAN) Market Size 2031

Report Description

The global LPWAN market is expected to register a robust CAGR during the forecast period, between 2021 and 2028. LPWAN, referred to as Low-power Wide Area Network, is a wireless network technology primarily used to connect devices with a low bandwidth while focusing on a long range. The connectivity of LPWAN is limited within 10 km-1000 km radii based on telecommunication system in conjunction with the use of less power functioning on inexpensive batteries with a lifespan of at least 20 years.

This type of network technology makes the use of lightweight hardware material and enables cost effectiveness thereby reducing heavy infrastructural requirements. LPWANs enable wider range for machine-to-machine applications, constrained by power consumption and budgets. It supports the devices with a long coverage area, as compared to traditional consumer mobile technologies.

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Low Power Wide Area Network (LPWAN) Market Trends, Drivers, Restraints, and Opportunities

• Development in the latest cloud technology allows LPWAN to ease the transmission of data across the large landscape areas through the internet, facilitating fast integration of cloud network. This primarily drives the LPWAN market.
• LPWAN is cost effective as it reduces the infrastructure costs and allows efficient telecommunication while maintaining a specific budget, which presents a key driver of the market.
• Cloud based technology makes it easier for consumers to access data on a wider range while using the LPWAN technology. This is projected to boost the market in the coming years.
• Stiff competition with local independent players offering advanced Wi-Fi networks makes difficult for coexistence. This is a key challenge that can hamper the market growth.
• The challenge of providing latest technology with high cellular networks in low lying areas due to advanced technology used in smartphones, serves as a restraint to the market.
• Development of secured and stable data management platforms with the aid of Artificial Intelligence LPWAN and 4G and 5G high speed internet are main factors that provide lucrative growth opportunities of the market.

Scope of the Low Power Wide Area Network (LPWAN) Market Report

The report on the global LPWAN market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Low Power Wide Area Network (LPWAN) Market Segment Insights:

High performance drives the weightless segment

Based on connectivity technology, the global LPWAN market is segmented into SIGFOX, LoRaWAN, and weightless. The SIGFOX segment is expected to grow significantly during the forecast period. SIGFOX is a LPWAN operator offering end-to-end IoT connectivity solutions based on the patented technologies. This connectivity technology deploys its proprietary base with cognitive software defined radios connecting them to the backend servers using an Internet-Protocol based network.

Meanwhile, the weightless segment is projected to hold a key share of the market as it is a high performance LPWAN connectivity technology that uses a narrow band modulation scheme offering a two directional communications capability to facilitate quality of service and add functionality.

Full time access to IT support drives the managed segment

On the basis of services, the market is bifurcated into managed services and professional services. The managed services segment is anticipated to witness robust growth in the coming years due to outsourcing of IT support by businesses. Managed services are provided to an organisation by an IT support team for facilitating troubleshooting. These services are mainly outsourced by a corporation for day to day mountainous activities such as troubleshooting, security, administration, backups and on boarding processes.

Managed service providers are a full-time service providing IT team while professional service providers offer on-demand solutions and are employed for one-off projects or short-term changes in a company.

Healthcare segment is projected to hold significant market share

Based on end-users, the global LPWAN market is classified as healthcare, agriculture, logistics & transportation, manufacturing, utilities, consumer electronics, and government & public sector. The healthcare segment is estimated to hold significant market share as the technology is widely deployed for various healthcare related applications. LPWAN provides a common database for doctors that can be accessed anytime for reference, which makes to arrive better connectivity between patients and doctors.

The logistics & transportation segment is anticipated to account for large market share due to high adoption of the technology for providing telecommunication between drivers. The use of sensors and processors by vehicles can help other drivers as well by sharing roads via telecommunication to detect traffic which benefits transportation.

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Asia Pacific to dominate the global market

In terms of regions, the market is categorized as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the global market in the coming years due to the high use of this network technology in the transportation and logistics segment in countries such as India, China, and Japan. The use of LPWAN in the cloud market has generated substantial revenue in the region. The market in North Amera is projected to witness robust growth during the forecast period owing to use of LPWAN in the packaging and delivery market.

The introduction of low range power device detecting startups aided by the government has grown the LPWAN market in Europe.

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