Global Low Power IoT Market Projections & Future Opportunities Recorded for the Period until 2028

Low-power wide area networks (LPWAN) allow low-power IoT devices to connect and communicate effectively and efficiently over large distances with minimal cost in terms of power.It is the prevailing technology choice for building IoT networks across the globe. This wireless technology can be integrated into the wearable devices, home appliances, street lights, manufacturing equipment, and cars.

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The global low power IoT market is divided into six regions, such as North America, South America, Asia Pacific, Europe, the Middle East, and Africa.

Drivers:

Increasing adoption of IoT (Internet of Things) and M2M (Machine to machine) applications and growing need of long range connectivity between devices is expected to propel growth of the global low power IoT market during the forecast period. For instance, in March 2021, Everynet BV and Actility partnered to provide seamless network integration between Everynet’s carrier-grade national networks and Actility’s IoT platforms around the world.

Moreover, increasing demand for wide area network (WAN) services and growing inclination towards cloud-based applications and WAN infrastructure is expected to augment the global high speed protocol software bundle market growth.

Furthermore, increasing demand for low cost, low power consumption LPWAN technology, initiatives by industry alliances for developing LPWAN standards, and increasing popularity of smart city applications are expected to fuel the market growth.

Restraint:

High data traffic, lack of governance, and concerns regarding privacy and security are expected to impede growth of the global low power IoT market.

Regional Insights:

North America is expected to witness significant growth in the global low power IoT market due to increasing adoption of cloud-based networks in the region. For instance, in February 2020, Google Cloud collaborated with Sigfox to scale its cloud infrastructure and extend its IoT services portfolio.

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Competitive Section:

Key players involved in the global low power IoT market are Arkessa, Huawei, AT＆T, Cisco, Semtech, Sigfox, Ingenu, Emnify, and Sierra Wireless.

In March 2021, Sony Semiconductor launched the ALT1255 chipset to their low-power cellular IoT solution portfolio that include ALT1160 for CAT-1 connectivity and ALT1250 for CAT-M, NB, and 2G connectivity.

In February 2020, IoTeX launched Pebble Tracker, a blockchain-powered smart asset-tracking device integrated with secure hardware from Nordic Semiconductor is a first for the IoT industry where all data the device generates is verifiable and owned exclusively by the device’s owner.

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