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LPWAN Market To Witness An Exponential CAGR Of 84.3% For The Forecast Period

Global Low power wide area network market is estimated to grow at an exponential CAGR of 84.3% during the forecast period (2021-2029). Growing adoption of IoT and Mobile to Mobile applications are considered as the major drivers for LPWAN market. By 2020, Internet-connected devices have grown approximately to 30 billion – 45 billion globally. With the rise in development of IoT technology, the demand for LPWAN technology in sectors such as transportation, healthcare, automation, electronics and others are bound to increase. High adoption of M2M interfaces such as connected devices etc. are also incorporating LPWAN technology in it.

Global Smart Cities Primer Picks, Bank of America Merrill Lynch (BAML) anticipates smart city technology and management investment to reach more than $3.48 trillion by 2026 globally. Moreover, other applications of LPWAN includes, smart gas and water metering and office security market are anticipated to be the fastest growing market with a CAGR of 23.3% during the forecast period. The global Low power wide area network market has been segmented on the basis of technology, services, deployment, application and vertical. The Application segment is further sub segmented into Smart Waste Management, Smart Buildings, Smart Parking, Smart Streetlight, Livestock Monitoring and Others. Smart Buildings leads the application segment in terms of revenue in the global Low power wide area network market with over 28% market share in 2020. IoT devices are deployed in both commercial and residential buildings to make energy and resource allocation efficient with enhanced security.

Geographically, the global low power wide area network market has been segmented into North America, Europe, Asia Pacific and Rest of the world (ROW). Europe leads the global low power wide area network market by capturing largest market share in terms of revenue of 34.66% in 2020. Europe LPWAN market is primarily driven large scale deployment of low power wide area network in the courtiers of European region. Moreover, Asia pacific is anticipated to be the fastest growing region with a CAGR of 86.9% during the forecast period. Increasing deployment of LPWAN coupled with high investment in the smart city infrastructure possess a huge potential for the growth of LPWAN in the Asia Pacific region.

Browse full report at https://www.acutemarketreports.com/report/low-power-wide-area-network-lpwan-market

SigFox in the connectivity technology segment leads the global LPWAN market by capturing largest market share of approximately 42.5% in terms of revenue in 2020. SigFox market is expected to grow at CAGR of 84.1% during the forecast period. SigFox is one of the most widely adopted technology in the LPWAN market as with the use of sigFox technique objects in large geographical area can be connected with lower power loss as compare to LoRaWAN and 3GPP technology

The intensity of bargaining power of Global Low Power Wide Area Network (LPWAN) Market is expected to move from high to moderate level over the forecast period 2021 to 2029 as major players are focusing on merger and acquisitions, collaborations, research and development and strategic partnerships for enhancing market presence and market share. The key companies in this market include Semtech Corporation (California), LORIOT (Switzerland), NWave Technologies (London), SIGFOX (France), WAVIoT (Texas), Actility (France), Ingenu (San Diego), Link Labs (Maryland), Weightless SIG, and Senet, Inc. (Portsmouth). The dominant players in the market include Semtech, NWave, SIGFOX and WAVIoT. 

KEY MARKET MOVEMENTS:

  • Global Low power wide area network market is estimated to grow at an exponential CAGR of 84.3% during the forecast period (2021-2029).
  • Growing adoption of IoT and Mobile to Mobile applications are considered as the major drivers for LPWAN market.
  • Other applications of LPWAN includes, smart gas and water metering and office security market are anticipated to be the fastest growing market with a CAGR of 23.3% during the forecast period.
  • Smart Buildings leads the application segment in terms of revenue in the global Low power wide area network market with over 28% market share in 2020.
  • Europe leads the global low power wide area network market by capturing largest market share in terms of revenue of 34.66% in 2020.
  • SigFox in the connectivity technology segment leads the global LPWAN market by capturing largest market share of approximately 42.5% in terms of revenue in 2020.
  • SigFox market is expected to grow at CAGR of 84.1% during the forecast period.
  • The intensity of bargaining power of Global Low Power Wide Area Network (LPWAN) Market is expected to move from high to moderate level over the forecast period 2021 to 2029.
  • The key companies in this market include Semtech Corporation (California), LORIOT (Switzerland), NWave Technologies (London), SIGFOX (France), WAVIoT (Texas), Actility (France), Ingenu (San Diego), Link Labs (Maryland), Weightless SIG, and Senet, Inc. (Portsmouth). The dominant players in the market include Semtech, NWave, SIGFOX and WAVIoT. 

LPWAN Market is segmented into:

ATTRIBUTEDETAILS
Research Period 2019-2029
Base Year 2020
Forecast Period2019-2029
Historical Year2019
UnitUSD Million
Segmentation  By Technology   (2019-2029; US$ Bn)
  By Service (2019-2029; US$ Bn)
  By Network Deployment (2019-2029; US$ Bn)
  By Applications (2019-2029; US$ Bn)
  By Verticals (2019-2029; US$ Bn)
  By Region (2019-2029; US$ Bn)
  Covid-19 Impact (2020-2021; US$ Bn)

*Detailed segments are available on the report page

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