Low power wide area network (LPWAN) market is anticipated to grow at a CAGR of 45.7% during the forecast period (2024–2031). The market is driven by an increase in the development of smart cities and smart buildings, low power consumption demand, usage of more devices over a large coverage area, and an increase in the demand for economic LPWAN technology.
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LPWAN market is growing attributed to the increasing adoption of lower-power Internet of Things (IoT) and machine-to-machine applications, for a wide range of emerging applications in sectors including industrial, smart cities, environment monitoring, agriculture, health care, and more. The applications are attributed to LPWAN’s capabilities to offer less complex and economical remote nodes and objects with very low power consumption, extending the lifetime of battery-operated nodes to months and years. However, the market growth is restrained by rising security concerns, high infrastructure costs, and limited data rates, interference, and reliability.
North America is estimated to capture a significant market share during the forecast period, owing to the growing IoT technology such as wearable. In addition to that, the advancements toward smart city initiatives in the region are enhancing demand for LPWAN technologies. Additionally, various market players are concentrating on developing IoT devices that reduce energy consumption.
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Market Coverage
- Segment Covered-
o By Technology
o By Application
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape: Actility SA, Cisco Systems, Inc., Huawei Technologies Co. Ltd, Semtech Corp., Senet, Inc. among others.
Key questions addressed by the report
- What is the market’s growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Low Power Wide Area Network (LPWAN) Market Report Segment
By Technology
- Random Phase Multiple Access (RPMA)
- LoRa (Long Range)
- Green OFDM (Orthogonal Frequency Division Multiplexing )
- Ultra-narrow band
- Sigfox
- Other NB-IoT (Narrowband IoT))
By Application
- Smart home
- Monitoring and Security
- Smart Agriculture and Energy
- Industrial IoT deployments
- Others (Agriculture, Logistics and Supply Chain, and Consumer Electronics)
By End-User
- Healthcare
- Transportation and Logistics
- Oils and Gas
- Consumer Electronics
- Agriculture
- Others (Environmental Monitoring, and Retail)
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