Press release
Global Low-Power Wide-Area Network (LPWAN) Market to Reach $190.96 Billion by 2029, Growing at 62% CAGR
Low-Power Wide-Area Network (LPWAN) Market Size
The adoption of smart meters is expected to boost the low-power wide-area network (LPWAN) market. The increased use of smart meters, which provide precise energy monitoring and billing, is driving the need for LPWAN technologies to ensure reliable, long-range, low-power communications. In 2023, over 201,800 smart meters were installed in small non-domestic sites in Great Britain, marking a 39% increase from 2022, according to the UK Statistics Authority. This growth supports LPWAN market expansion.
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What is the projected compound annual growth rate (CAGR) of the low-power wide-area network (lpwan) market from 2025 to 2034, and what factors influence it?
The low-power wide-area network (LPWAN) market will surge from $17.09 billion in 2024 to $27.74 billion in 2025 at a CAGR of 62.3%, driven by IoT expansion, smart city applications, industrial automation, and improved battery life.
The low-power wide-area network (LPWAN) market is expected to surge to $190.96 billion by 2029 at a CAGR of 62.0%, driven by smart agriculture, industrial applications, long-range connectivity needs, smart city infrastructure, and environmental monitoring. Trends include IoT adoption, LPWAN tech advancements, long-range, low-power connectivity, 5G integration, and battery tech improvements.
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How are the latest trends influencing the growth of the low-power wide-area network (lpwan) market?
Companies in the low-power wide-area network (LPWAN) market are focusing on innovative solutions, such as SaaS chip-to-cloud services, to enhance network efficiency and scalability for IoT applications. For example, in June 2022, Semtech Corporation launched the LoRa Cloud Locator, a SaaS chip-to-cloud service that uses LoRa Edge technology to enable ultra-low-power geolocation tracking. This system allows users to track assets with reduced power consumption and costs compared to traditional GPS methods.
What are the major segments of the low-power wide-area network (lpwan) market and their role in driving growth?
The low-power wide-area network (LPWAN) market covered in this report is segmented -
1) By Component: Platform, Service
2) By Technology Type: SIGFOX, Long Range Wide Area Network (LoRaWAN), Weightless, Other Technologies
3) By Deployment Model: On-Premise, Cloud
4) By Application: Smart Gas And Water Metering, Asset Tracking, Smart Buildings, Smart Parking, Precision Agriculture, Smart Waste Management, Livestock Monitoring, Other Applications
5) By End-User: Healthcare, Agriculture, Logistics And Transportation, Manufacturing, Government, Other End-Users
Subsegments:
1) By Platform: Network Management, Device Management, Application Enablement
2) By Service: Professional Services, Consulting, Deployment And Integration, Support And Maintenance, Managed Services
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Which regions are key players in the growth of the low-power wide-area network (lpwan) market?
North America was the largest region in the low-power wide area network (LPWAN) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the low-power wide-area network (LPWAN) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the low-power wide-area network (lpwan) market?
Major companies operating in the low-power wide-area network (LPWAN) market are Verizon Communications Inc., Comcast Corporation, AT&T Inc., Huawei Technologies Co. Ltd., Vodafone Group Plc, Cisco Systems Inc., Bouygues S.A, Qualcomm Technologies Inc., Avnet Inc., NXP Semiconductors N.V., Swisscom AG, Orange Business, Tata Communications, Semtech Corporation, Sigfox, Kerlink, Eseye, Ingenu Inc., Actility S.A., Senet Inc, WavIoT, Link Labs, LORIOT AG, Nwave, Everynet
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What Is Covered In The Low-Power Wide-Area Network (LPWAN) Global Market Report?
•Market Size Forecast: Examine the low-power wide-area network (lpwan) market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the low-power wide-area network (lpwan) market for a structured understanding.
•Key Players Overview: Analyze major players in the low-power wide-area network (lpwan) market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the low-power wide-area network (lpwan) market.
•Segment Contributions: Evaluate how different segments drive overall growth in the low-power wide-area network (lpwan) market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the low-power wide-area network (lpwan) market.
•Industry Challenges: Identify potential risks and obstacles affecting the low-power wide-area network (lpwan) market.
•Competitive Landscape: Review strategic developments in the low-power wide-area network (lpwan) market, including expansions, agreements, and new product launches.
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