Low Power Wide Area Network Market Forecast to Reach $2.3 Billion by 2025

The Global Low Power Wide Area Network Market is forecast to reach $2.3 billion by 2025, growing at a CAGR of 12.7% from 2020 to 2025. The market growth is attributed to the factors such as increased adoption of IoT, M2M systems, increased need for long-range connectivity between these systems, rising penetration of 5G technology and others. Moreover, the exponential growth in smart city infrastructure is expected to stimulate development in the market.

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Low Power Wide Area Network Market Segment Analysis - By Technology type

NB-IoT technology type segment is anticipated to hold the highest market share during the forecast period 2020-2025The increasing ecosystem of the IoT network will create demand for networks that can provide access to IoT devices that need low latency and low data transmission speeds, such as smart water metres. NB-IoT technology increases the power efficiency of these instruments and satisfies the challenging specifications for coverage. NB-IoT is perceived to be the potentially less costly alternative, since it avoids the need for a gateway. Usually, most infrastructures provide gateways that collect sensor data and then connect with the main server. Sensor data is therefore sent directly to the primary server with NB-IoT. Huawei, Ericsson, Qualcomm and Vodafone are all aggressively involved in commercial NB-IoT technologies.

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Low Power Wide Area Network Market Segment Analysis - By Deployment Model

Cloud deployment model held the highest market share of Low Power Wide Area Network in 2019. Moreover, it is anticipated to witness the significant market growth during the forecast period 2020-2025. Customers choose cloud services for fast integration of the IoT network. Enterprises can significantly reduce the timeline for deployment by following the cloud deployment model and handling cloud-enabled LPWAN servers and gateways with ease. LPWAN businesses also offer cloud services that allow consumers to easily access IoT sensor-generated data and allow service providers to control the LPWA network. In June 2018, The Occam Technology Group partnered with Google Cloud to offer LoRaWAN's OccamSmart Network Server Stack running on the Google Cloud Platform. In this way, companies minimise costs and deploy LoRaWAN communities within the global framework of Google Cloud. Such product developments enhance the market growth.

Low Power Wide Area Network Market Segment Analysis - By Geography

North America region held the highest market growth in 2019. The market growth is attributed to the factors such as technological advancements, increasing demand for energy efficient devices and increasing demand for high speed communication in the region. The region also has a well-established infrastructure which allows easy implementation of advanced technologies and provides better connectivity. North America, which has prominently taken the lead on various technological developments such as smart homes, smart cities, Internet of Things (IoT), big data and consumer electronics; has emerged as the nucleus for Low Power Wide Area Network market demand. Moreover, APAC region is anticipated to witness the significant market growth during the forecast period 2020-2025. The market growth is owing to growing digitization, industrialization technological developments, growing data centres and others. Digitization provides fresh opportunities for exploiting emerging technology and adapting quickly to developments in the industry, with network infrastructure serving a significant role. Furthermore, the introduction of Industry 4.0 technologies fuel the growth of IOT smart technology frameworks which in turn drives the market growth of LPWAN.

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Low Power Wide Area Network Market Drivers

Rising penetration of Cloud technologies

Owing to the introduction of cloud-based technologies, demand for the financial analytics system is growing. Cloud driven technologies support stable data management and produce result-oriented production. However, these programs improve the efficiency of the business by upgrading details in real-time.

Growing implementation of IOT

IoT helps products and services to be more customized. This mean that the products and services can be much more oriented on the desires and expectations of the consumer. IoT helps businesses to collect large volumes of consumer data in real time, enabling a more personal view of the client.

Growing Penetration of 5G Technology

Globally, internet usage has increased, as well as the growing use of modern wireless technologies. Advanced broadband infrastructure including 3 G, 4 G, 5 G and LTE is anticipated to be commonly adopted in the future. In most areas of the world service networks in telecommunications are continuously developing. Technological advancements including secure phone communications, mission crucial LTE, sophisticated terrestrial trunked radio networks and others is anticipated to boosts the market growth.

Low Power Wide Area Network Market Challenges

Security concerns Security represents an IoT communication challenging task. Owing to its long range communication and relatively limited transfer time, IoT broadens the attack scope. -Each system inside the network is a potential vulnerability point and each hardware has its own protection mechanism to ensure safe communication.

Market Landscape

Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Low Power Wide Area Network market. As of 2019, the market for Low Power Wide Area Network market is consolidated with the top players including Link Labs, Ingenu, LORIOT, Nwave, Orange, Qualcomm, Semtech, Senet, Sigfox, Vodafone, WavIoT, and Verizon and among others.

Acquisitions/Technology Launches/Partnerships

In February 2019, Haxiot, the industry leader in LoRaWANTM-based end-to - end IoT solutions , announced the release of its new edge computing solution that enables seamless integration with industrial gateway vendors such as Technologic Systems to provide connectivity, device management, wireless Low Power Wide Area ( LPWA) data transformation.

In February 2019, XTERCONNECT announced today the launch of a new range of professional LoRaWANTM gateways. The flagship models GTW410-L and GTW410-L4G are advanced professional indoor gateways engineered to meet the growing needs of the LPWAN market.

Key Takeaways

Low Power Wide Area Network (LPWAN) is quickly evolving as a game-changer in IOT applications, assessing most of the cellular network's limitations (e.g., high power, coverage gaps). LPWAN has specific features that render it especially appealing for the rising number of implementations around numerous industries, including infrastructure, logistics and transport, agriculture and smart cities.

North America region dominated the global Low Power Wide Area Network market in 2019 owing to the presence of advanced technologies, large number of manufacturers and the increasing demands for better connectivity network.

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Venkat Reddy
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