PUBLISHER: The Business Research Company | PRODUCT CODE: 1532004
PUBLISHER: The Business Research Company | PRODUCT CODE: 1532004
LPWAN, a wireless communication technology, enables long-range connectivity with minimal power consumption, facilitating efficient data exchange over significant distances. These networks, capable of transmitting data across several kilometers, are ideal for applications spanning wide geographical areas, such as agricultural monitoring and smart city infrastructure.
The primary components of LPWAN include platforms and services. Platforms encompass the technological frameworks and ecosystems that support the deployment and management of LPWAN solutions. Various technologies such as SIGFOX, LoRaWAN, Weightless, and others are deployed in on-premise and cloud modes for applications such as smart gas and water metering, asset tracking, smart buildings, smart parking, precision agriculture, smart waste management, and livestock monitoring. These technologies cater to diverse end-users in sectors such as healthcare, agriculture, logistics and transportation, manufacturing, and government.
The low-power wide-area network (LPWAN) market research report is one of a series of new reports from The Business Research Company that provides low-power wide-area network (LPWAN) market statistics, including the low-power wide-area network (LPWAN) industry global market size, regional shares, competitors with low-power wide-area network (LPWAN) market share, detailed low-power wide-area network (LPWAN) market segments, market trends, and opportunities, and any further data you may need to thrive in the low-power wide-area network (LPWAN) industry. These low-power wide-area network (LPWAN) market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The low power wide area network (LPWAN) market size has grown exponentially in recent years. It will grow from $10.56 billion in 2023 to $17.09 billion in 2024 at a compound annual growth rate (CAGR) of 61.8%. Historic period growth can be linked to heightened demand for IoT connectivity, advancements in cost-effective and long-range networks, increased industrial automation, expanded use in smart agriculture applications, improved battery life, enhanced utilization in smart cities, and diversified business models.
The low power wide area network (LPWAN) market size is expected to see exponential growth in the next few years. It will grow to $117.88 billion in 2028 at a compound annual growth rate (CAGR) of 62.1%. Forecast period growth is expected to stem from expanding smart agriculture implementations, broader industrial applications, rising demand for long-range connectivity solutions, innovative LPWAN business models, increasing adoption of smart city infrastructure, and heightened focus on environmental monitoring and sustainability applications. Key trends in the forecast period include the escalating adoption of IoT applications, advancements in LPWAN technologies, growing demand for long-range, low-power connectivity solutions, integration with 5G networks, and advancements in battery technology.
The growing adoption of smart meters is expected to drive the expansion of the low-power wide-area network (LPWAN) market in the future. Smart meters are devices that monitor and record electricity or gas usage in homes and businesses. Their increasing adoption is due to their precise energy tracking, simplified billing, and improved energy management capabilities for consumers and utilities alike. LPWAN technologies significantly enhance smart meters by providing reliable, long-range, low-power, and cost-effective communication solutions. These features enable better data management, operational efficiency, and scalability in smart metering systems, crucial for modern energy management and utility services. For instance, according to Smart Meter Statistics from the UK Statistics Authority in March 2022, there were 27.8 million smart and advanced meters in use across Great Britain in 2021, with 23.6 million operating in smart mode. This represents 50% of all meters, marking a seven-percentage point increase from 2020. Additionally, 3.8 million smart meters were installed in 2021, a 19% rise compared to 2020, highlighting the growth driven by smart meters in the LPWAN market.
Leading companies in the LPWAN market are focused on developing innovative solutions such as SaaS chip-to-cloud services to enhance network efficiency, scalability, and integration capabilities for IoT applications. SaaS chip-to-cloud service connects hardware (chips) to cloud-based services through a managed platform, facilitating seamless data collection, processing, storage, and analysis from IoT devices. For instance, Semtech Corporation launched the LoRa Cloud Locator in June 2022, a SaaS chip-to-cloud service that showcases LoRa Edge, an ultra-low-power geolocation platform. This platform allows for the development of indoor and outdoor tracking systems using LoRa Edge ICs, optimizing power consumption and costs compared to traditional GNSS methods. It supports precise asset tracking indoors and outdoors by combining LoRa Edge with GNSS and Wi-Fi.
In July 2023, Actility S.A. acquired Acklio, enhancing its position in delivering comprehensive IoT solutions via LPWAN networks. Acklio, a France-based software company, specializes in enabling connected objects to communicate over LPWANs, bolstering Actility's capabilities in smart metering and smart building solutions.
Major companies operating in the low-power wide-area network (LPWAN) market are Verizon Communications Inc., Comcast Corporation, AT&T Inc., Huawei Technologies Co. Ltd., Vodafone Group Plc, Cisco Systems Inc., Bouygues S.A, Qualcomm Technologies Inc., Avnet Inc., NXP Semiconductors N.V., Swisscom AG, Orange Business, Tata Communications, Semtech Corporation, Sigfox, Kerlink, Eseye, Ingenu Inc., Actility S.A., Senet Inc, WavIoT, Link Labs, LORIOT AG, Nwave, Everynet
North America was the largest region in the low-power wide area network (LPWAN) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the low-power wide-area network (LPWAN) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the low-power wide-area network (LPWAN) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The low-power wide-area network (LPWAN) market consists of revenues earned by entities by providing services such as data transmission, interoperability, remote monitoring and control, and asset tracking. The market value includes the value of related goods sold by the service provider or included within the service offering. The low-power wide-area network (LPWAN) market also includes sales of LPWAN gateways, modems, sensors, development kits, and antennas. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Low-Power Wide-Area Network (LPWAN) Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on low-power wide-area network (lpwan) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for low-power wide-area network (lpwan) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The low-power wide-area network (lpwan) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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