Soaring Demand Set to Propel Low-Power Wide-Area Network (LPWAN) Market to $172.52 Billion by 2029

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What Will the Low-Power Wide-Area Network (LPWAN) Industry Market Size Be by 2025?
In recent years, the market size of the low-power wide-area network (lpwan) has experienced exponential growth. It's projected to expand from a value of $17.09 billion in 2024 to a whopping $27.65 billion in 2025, showcasing a compound annual growth rate (CAGR) of 61.8%. The significant increase during the historical period can be associated with the rising demand for IoT connectivity, affordability and reach of long-range networks, advancement in industrial automation, usage enhancement in smart agriculture applications, improved battery life, applications in smart cities, and evolving business models.

What's the Long-Term Growth Forecast for the Low-Power Wide-Area Network (LPWAN) Market Size Through 2029?
Anticipated to witness substantial growth in the upcoming years, the low-power wide-area network (lpwan) market is projected to soar to $172.52 billion by 2029, with a compound annual growth rate (CAGR) of 58.0%. Factors contributing to this expected surge during the forecast period include the escalating application of smart agriculture, widespread use in industrial sectors, rising demand for long-range connectivity, the emergence of innovative LPWAN business models, burgeoning demand for smart city infrastructure, and an increased emphasis on environmental monitoring and sustainability tasks. Notable trends for this period encompass the escalating adoption in IoT applications, progress in LPWAN technologies, climbing demand for long-range, low-power connectivity solutions, incorporation with 5G networks, and advancements in battery technology.

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What Are the Key Growth Drivers Fueling the Low-Power Wide-Area Network (LPWAN) Market Expansion?
The growth of the low-power wide-area network (LPWAN) market is expected to be driven by the rising adoption of smart meters. These meters, which keep track of the consumption of electricity or gas in both residential and commercial settings, are becoming more popular due to their ability to provide accurate energy monitoring, make billing more straightforward, and improve energy management for both consumers and utility companies. LPWAN technologies enhance the functionality and effectiveness of these meters by offering reliable, wide-ranging, low-power, and affordable communication solutions. These characteristics facilitate better data handling, greater operational competence, and scalability in smart meter systems, which are essential for contemporary energy management and utility services. To illustrate this, the Smart Meter Statistics maintained by the UK Statistics Authority reported that in 2023, 201,800 smart and advanced meters were installed at smaller non-domestic sites by energy suppliers in Great Britain. This was a 39% increase from 2022, indicating that the proliferation of smart meters is propelling the expansion of the LPWAN market.

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What Are the Key Trends Driving Low-Power Wide-Area Network (LPWAN) Market Growth?
Leading firms in the LPWAN market are allocating resources toward the creation of novel solutions such as SaaS chip-to-cloud services to bolster the functionality, scalability, and integration abilities of IoT applications. A SaaS chip-to-cloud service is a comprehensive system that links hardware (the chip) with cloud-based services via a managed platform, facilitating efficient data collection, processing, storage and analysis from IoT devices. An example of this is when Semtech Corporation, a US semiconductor manufacturing company, introduced the LoRa Cloud Locator,a SaaS chip-to-cloud service, in June 2022. The LoRa Cloud Locator utilizes the LoRa Edge, a low-power, chip-to-cloud geolocation platform, allowing users to quickly establish indoor and outdoor tracking systems using LoRa Edge ICs by moving location calculations to the cloud. This shift leads to decreased power usage and fewer costs than conventional on-chip GNSS techniques. Users can trace assets both indoors and outdoors using LoRa Edge-supported trackers, which can be merged with GNSS and Wi-Fi for accurate location tracking.

How Is the Low-Power Wide-Area Network (LPWAN) Market Segmented?
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 Companies Are Leading the Charge in Low-Power Wide-Area Network (LPWAN) Market Innovation?
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

Which Regions Are Leading the Global Low-Power Wide-Area Network (LPWAN) Market in Revenue?
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.

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