Low Power Wide Area Network Market: By Network Deployment (Public Sector, Private Sector), By Application (Smart Waste Management, Smart Buildings, Smart Gas and Water Metering, Smart Streetlights, Smart Parking, Livestock Monitoring, Others), By Verticals (Agriculture, Smart Logistic and Transportation, Healthcare, Industrial Manufacturing, Oil and Gas, Consumer Electronics, Others), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
Global Low Power Wide Area Network Market to surpass USD 6,836.8 billion by 2031 from USD 11.3 billion in 2021 at a CAGR of 89.8% in the coming years, i.e., 2021-2031
A low-power wide-area network (LPWAN) is a sort of wireless telecommunication wide area network that allows long-range communications at a low bit rate among devices or linked objects, such as sensors that are powered by batteries. This sort of network is distinguished from a wireless WAN by its low bit rate, low power, and intended usage. A wireless WAN is designed to connect individuals or organizations and transmit more data while requiring more power. A low-power wide-area network (LPWAN) can be used to construct a private wireless sensor network, but it can also be a service or infrastructure provided by a third party that allows sensor owners to install sensors in the field without having to invest in gateway technology.
Global Low Power Wide Area Network Market to surpass USD 6,836.8 billion by 2031 from USD 11.3 billion in 2021 at a CAGR of 89.8% in the coming years, i.e., 2021-2031. The growing integration of the Internet of Things (IoT) and Machine-to-Machine (M2M) across numerous industries is projected to continue to fuel market expansion. Managed services are predicted to increase at a faster rate than other services. These managed service providers work with top satellite and mobile networks to deliver high-end managed services to application developers, system integrators, and end users.
On the basis of Network Deployment, the Low Power Wide Area Network Market is divided into Public Sector and Private Sector. The private sector is predicted to take a larger part of the market, while the public sector will grow at a faster rate. Municipal governments are working on constructing public infrastructures such as smart cities in order to improve citywide services such as garbage collection, parking, streetlights, water metres, and leak detectors, among other things.
By Application, the Low Power Wide Area Network Market is segmented into Agriculture, Smart Logistic and Transportation, Healthcare, Industrial Manufacturing, Oil and Gas, Consumer Electronics, and Others. Smart gas and water metering applications are predicted to increase at the fastest rate. The implementation of smart metres marks a paradigm change in understanding energy consumption at all levels of the power grid. With the widespread deployment of LPWAN technology, there will be more commonality among smart metre makers and vendors.
Lower power consumption of Low Power Wide Area Network
The market is predicted to develop because of LPWAN's lower power consumption. At a reasonable price, multiple connectivities provide low power consumption, long battery life, accurate bandwidth balance, and long-distance range. During the anticipated time period, the market will rise because of the high cost and power consumption associated with traditional systems such as WAN. Furthermore, the growing need for long-range device connectivity is likely to drive market expansion.
Rising adoption of IoT in multiple applications
The global market is primarily driven by the increasing use of IoT in various applications around the world. Because the Internet of Things helps to personalize products and services, they can be much more tailored to the desires and expectations of customers. IoT enables businesses to collect massive amounts of consumer data in real-time, providing for a more intimate view of the client.
High cost associated with the Low Power Wide Area Network
Privacy and security concerns are anticipated to hinder the expansion of the low-power wide-area network sector.
Global Low Power Wide Area Network Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Europe now holds the most market share, while APAC is predicted to develop at the fastest rate. The most likely countries to embrace M2M communication apps are China, Japan, India, and Australia. In recent years, the wireless M2M communication modules market in the region has undergone a significant transformation.
With a compilation of current data, a qualitative analysis of the Low Power Wide Area Network Market Size revealed an increase in the use of LPWAN during COVID time compared to pre-COVID time. COVID-19 virus requires limited communication and contact to influence the afflicted, but how to the affected areas, due to data tracking governments of 213 nations across the world have contained people in isolated places using LPWAN in local areas.
Global Low Power Wide Area Network Market report also contains analysis on:
Low Power Wide Area Network Market Segments:
Market size value in 2021
USD 11.3 billion
Revenue forecast in 2031
USD 6,836.8 billion
CAGR of 89.8% from 2021 to 2031
Base year for estimation
Revenue in USD million and CAGR from 2021 to 2031
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Network Deployment, Application, Verticals, and Region
North America, Europe, Asia Pacific, South America, Middle East & Africa (MEA)
Key companies profiled
Semtech Corporation, LORIOT, NWave Technologies, SIGFOX, WAVIoT, Cisco Systems, Actility, Weightless SIG, Senet, Inc., AT&T Inc., Huawei Technologies Co. Ltd., and Vodafone Group Plc.
Low Power Wide Area Network Market size was estimated at USD 11.3 billion in 2021 and is expected to reach USD 6,836.8 billion in 2031.
. A low-power wide-area network is a kind of wireless telecommunication wide area network, specially designed to enable long-range communications at a low bit rate among things, such as sensors operated on a battery
Smart Gas and Water Metering segment accounted for the largest Low Power Wide Area Network Market share
Key players 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., Huawei Technologies Co. Ltd., and Vodafone Group Plc
. Rising adoption of M2M systems, IoT, rising penetration of 5G and other wireless technology, and increased need for long-range connectivity between these systems, among others is expected to drive the market growth.
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