Low Power Wide Area Network (LPWAN) Market Size Forecasted To Achieve $139.72 Billion By 2029 With Steady Growth

The Low Power Wide Area Network (LPWAN) Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Current Low Power Wide Area Network (LPWAN) Market Size and Its Estimated Growth Rate?
The market size for low power wide area network (LPWAN) has dramatically increased in the last few years. The growth is expected to continue as the market size will swell from $16.24 billion in 2024 to a significant $24.93 billion in 2025 with a compound annual growth rate (CAGR) of 53.5%. Factors contributing to this historical growth include its use in wildlife tracking and conservation, the surge of Industry 4.0 initiatives, increased adoption of LPWAN-based security systems, development in LPWAN-based asset monitoring, and its application in air quality monitoring.

The market for low power wide area network (LPWAN) is predicted to experience remarkable growth in the upcoming years, expanding to $139.72 billion in 2029 with a compound annual growth rate (CAGR) of 53.9%. This growth during the forecast period is credited to the rising need for IoT connectivity, the demand for long-distance, low-energy connectivity, the infringement into intelligent agriculture, the increasing implementation of smart city solutions, and growth in smart metering applications. The forecast period also sees primary trends such as strategic collaborations, expansion of IoT applications in agriculture, the combination of LPWAN with edge computing, penetration into fleet management solutions, and integration with renewable energy systems.

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How Are Emerging Segments Shaping the Low Power Wide Area Network (LPWAN) Market Landscape?
The low power wide area network (LPWAN) market covered in this report is segmented -

1) By Technology: Long Range Wide Area Network (Lorawan), Narrowband Internet of Things (Nb-IoT), Sigfox, Other Technologies
2) By Deployment Model: On-Premise, Cloud
3) By Application: Smart Building, Smart Gas And Water Monitoring, Smart Waste Management, Smart Agriculture, Smart Parking, Other Applications
4) By End User: Healthcare, Oil And Gas, Industrial Manufacturing, Agriculture, Consumer Electronics, Transportation And Logistics, Other End Users

Subsegments:
1) By Long Range Wide Area Network (LoRaWAN): Private LoRaWAN Networks, Public LoRaWAN Networks
2) By Narrowband Internet Of Things (NB-IoT): Standalone NB-IoT, Integrated NB-IoT
3) By Sigfox: Sigfox Network Operator Services, Sigfox IoT Connectivity Solutions
4) By Other Technologies: Weightless, DASH7, Ingenu RPMA, LoRa (LPWAN) Variants

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Which Growth Factors Are Influencing Low Power Wide Area Network (LPWAN) Market Expansion?
The rise in smart metering applications is predicted to fuel the expansion of the low power wide area network (LPWAN) market in the future. Advanced metering technology, often combined with IoT connectivity and data examination, allows for real-time handling and supervision of energy consumption, thereby enhancing energy utilization and proficiency. Escalating demand for instant energy consumption monitoring and optimization in various industries and residential sectors is driving the growth of smart metering applications. Efficient and prolonged connectivity for smart meters is offered by low power wide area networks (LPWAN), which improve communication and extend battery lifespan in smart metering applications. For example, the Department for Business, Energy, and Industrial Strategy (BEIS), a UK government agency, reported in November 2022 that during the third quarter of 2022, big suppliers established 836800 domestic and 44900 non-domestic smart meters, marking an increase of 21900 and 16400 from the second quarter of 2022, respectively. As such, the surge in smart metering applications is leading the expansion of the low power wide area network (LPWAN) market.

Who Are the Dominant Players Across Different Low Power Wide Area Network (LPWAN) Market Segments?
Major companies operating in the low power wide area network (LPWAN) market are Amazon Web Services Inc., Google LLC, Microsoft Corporation, Huawei Technologies Co. Ltd., Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Qualcomm Incorporated, Oracle Corporation, Nokia Corporation, Ericsson AB, Alibaba Cloud, Semtech Corporation, Inogen Inc., Nwwave Technologies, MultiTech Systems Inc., Sig Sauer Inc., Moeco, Kerlink SA, Link Labs Inc., LoRa Alliance, Senet Inc., Astrocast SA

What Trends Are Driving Growth in The Low Power Wide Area Network (LPWAN) Market?
Top firms in the low-power wide area network (LPWAN) industry are intensifying their efforts to create cutting-edge products like the forthcoming LPWAN modules, striving to improve their market position. "Next-generation" LPWAN modules are an evolved form of wireless communication devices that provide enhanced performance, energy-saving features, and connectivity for IoT (Internet of Things) and smart devices. For instance, in February 2023, Telit Cinterion, an American company specializing in IoT solutions, unveiled a 5G LPWA module range integrated with the Altair ALT1350 chipsets from Sony. Traits like rapid data transmission, minimal power usage, and a streamlined design make these modules a perfect fit for various applications. They have been crafted to satisfy the specific demands of the emerging 5G LPWA massive IoT market, and come with extraordinary low power usage, an integrated AI engine for edge processing, indoor and outdoor positioning, as well as a sensor hub to collect data.

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Which Geographic Regions Are Expected to Dominate the Low Power Wide Area Network (LPWAN) Market in the Coming Years?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Low Power Wide Area Network (LPWAN) Market?
2. What is the CAGR expected in the Low Power Wide Area Network (LPWAN) Market?
3. What Are the Key Innovations Transforming the Low Power Wide Area Network (LPWAN) Industry?
4. Which Region Is Leading the Low Power Wide Area Network (LPWAN) Market?

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