Press release
LPWAN Market Will Grow at a Healthy CAGR by 2025 Profiling Actility, AT&T, Avnet, Cisco, Huawei Technologies, Orange Business Services, Qualcomm, Semtech, Sierra Wireless, SIGFOX, Verizon, Vodafone
LPWAN Market
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The 5G technology would enable major telecom firms across the globe to provide high connectivity to support numerous IoT use cases. Taking this factor into account, various telecom firms including Orange, Vodafone, and Airtel are deploying licensed cellular LPWAN as a prominent component of their 5G development strategies.
The Major Key Players in the Market are as follows:
"Actility
AT&T
Avnet
Cisco
Huawei Technologies
Orange Business Services
Qualcomm
Semtech
Sierra Wireless
SIGFOX
Verizon
Vodafone"
Owing to the rising deployment of LPWA technologies, including LTE-M, NB-IoT, and LoRa, LPWAN market share is witnessing an increased traction in the recent years. Interestingly, LPWAN networks have emerged as popular choice among enterprises to support various IoT use cases and solutions for business sectors such as agriculture, manufacturing, logistics, and healthcare, among others. Enumerated below are three major factors that are shaping the growth prospects of LPWAN market.
Besides the rising volume of investment by telecom operators, the increasing prominence of industrial IoT market in various business verticals - especially the manufacturing sector - has invariably led to an escalation in the demand for LPWA technologies. This momentum is expected to remain consistent in the upcoming years as the industrial IoT connections are slated to increase by about five times by 2025.
In fact, the German wing of PwC released its findings last year of what the firm expects of the impact to be created by industrial IoT in the German manufacturing sector. Apparently, these findings note that about 90 percent of the respondents are investing in digital factories and a lot of these companies expect a 12 percent efficiency gains over the next five years owing to industrial IoT. Unsurprisingly, these statistics present an optimistic picture of the adoption of industrial IoT solutions, which will consequentially assist the regional LPWAN market in reaching out to a new base of customers in the times to come.
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In a nutshell, the increasing volume of investment by telecom firms in expanding the NB-IoT and LoRaWAN networks, the advent of 5G technology and its development, and the rise in industrial IoT connections has been fueling low power wide area network market share. LPWAN market is slated to exceed USD 65 billion by 2025.
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