Low Power Wide Area Network Market Growing Popularity and Emerging Trends in the Market During Forecast Period (2022-2027)

Predominantly driven by its lesser expensive deployment than that of conventional cellular network, and Wi-Fi connection, low power wide area network (LPWAN) has been emerging as a preferred alternative for connecting devices at a lower speed, and over longer distances. Fairfield Market Research in its latest ongoing study would provide readers with an insightful view of global low power wide area network market. Although the network does not offer a high-speed throughput, the economic pricing structure, Internet readiness, and energy efficiency are expected to elevate the prospects of LPWAN market in the near future.

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Growing Cloud Integration, and High Security Promise Push Preference for LPWAN

With an expanding user base of smartphones, and IoT-enabled/connected devices like smart TVs, cars and other vehicles, meters, and sensors, demand for LPWAN is likely to remain on an upswing. The level of reliability, and security that the network tends to offer its users is expected to elevate its market potential in the foreseeable future. LoRa, and Sigfox will continue to be the sought-after LPWAN technologies, marks the report. In addition, there has been a growing integration of LPWAN technologies with cloud. Given the advantage of the same over traditional network solutions, a number of companies are expected to raise demand in the near future. As the network warrants security of high level, it would remain a preferred choice when it comes to gaining real-time access to an encrypted critical data stream that may even be time sensitive.

Real-time Asset Tracking Applications Continue to Generate Significant Demand

LPWAN has been widely deployed for applications like home monitoring, lighting control, remote heating control at buildings, outdoor logistics monitoring, environmental monitoring, and smart metering. However, tracking applications in industrial environments, as well as smart agriculture sector are growing prominent recently. Increasing usage of LPWAN devices in real-time asset tracking applications remains one of the strongest factors driving market growth, says the report. Asset tracking will thus continue to represent the largest application area in low power wide area network market.

Asia Pacific Remains a High-potential Market

Asia Pacific, the projected high-potential market for LPWAN provider companies, is likely to build up on the back of its unprecedentedly expanding telecom subscriber base, and growing IoT adoption across industrial, as well as consumer markets. Penetration however remains restricted as a result of low awareness regarding the availability, and advantages of low power wide area network. Companies operating in global market have thus been introducing a variety of solutions targeting key application sectors like healthcare, logistics and transportation, and energy management.

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Prominent Vendors in LPWAN Market

Some of the leading vendors competing in global low power wide area network market space, include NWave Technologies, Senet, Inc., Semtech Corporation, Weightless SIG, SIGFOX, WAVIoT, LORIOT, Ingenu, Link Labs, and Actility. A large number of companies are emerging over the recent past with their own LPWAN technology versions. Entry of multiple players continues to heat up the competition in low power wide area network market landscape.

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