The global low power wide area network market is slated to expand positively through 2032 owing to the surging initiatives taken by industry players for the development of LPWAN solutions.
The leading enterprises in LPWAN market place a strong emphasis on industry consortiums to boost technological know-how and promote industrial development. For instance, in January 2021, STMicroelectronics joined the ZETA Alliance, a commercial alliance specializing in LPWAN technologies. The company concentrated on developing technological know-how through this collaboration for low-power smart applications as well as supporting cutting-edge product innovations for long-range IoT connectivity.
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The LPWAN market has been divided in terms of component, service, deployment model, application, end-use, and region.
Based on component, the low power wide area network market from service segment is expected to grow exponentially over the review timeline due to the increasing requirement for businesses to manage their daily operations and secure their IT networks.
With respect to service, the low power wide area network market from professional service segment held a major chunk of the market share and captured 65% revenue share in 2022. The segment is projected to grow through the forecast timeframe as they aid firms with LPWAN optimization and planning.
In terms of the deployment model, the low power wide area network market from on-premise segment is poised to expand steadily by the end of 2032. The segmental growth is anticipated to rise as on-premise LPWAN enables companies to set up and administer their own LPWAN for IoT-based solutions. They are able to control every component of the network, including LORA gateways and network servers.
Based on application, the low power wide area network market from smart buildings segment is anticipated to record exponential growth with a 55% CAGR from 2023 to 2032. The rise in demand for LPWAN technologies to offer more energy-efficient connections in big, dense locations is expected to foster industry growth. LoRa technology is frequently utilized to provide IoT connectivity for smart buildings.
Meanwhile, the livestock monitoring segment witnessed 10% market share in 2022 and is set to grow modestly over the research period. The IoT is becoming more widely used in the agriculture sector to improve crop yields and foster livestock health through remote monitoring. Farmers can learn about the health of their cattle through the tracking and monitoring of livestock in pastures in real-time, which is likely to boost segmental growth.
With respect to end-use, the manufacturing segment is speculated to expand exceptionally through the analysis timeframe driven by the productivity and efficiency of IoT platforms. To balance supply and demand, improve industrial procedures, and save waste, smart processes are becoming increasingly important.
From the regional perspective, the Asia Pacific low power wide area network market is estimated to witness 55% CAGR from 2023 to 2032. The region’s LPWAN market is expanding because of the rise in smart city adoption, the development of Industry 4.0, and government initiatives for digital transformation. China has chosen 200 locations to test out smart city initiatives as part of its current smart city strategy.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 LPWAN Market 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Regional trends
2.4 Component trends
2.5 Deployment model trends
2.6 Application trends
2.7 End-use trends
Chapter 3 LPWAN Market Insights
3.2 Impact of COVID-19 outbreak
3.2.1 North America
3.2.3 Asia Pacific
3.2.4 Latin America
3.2.5 Middle East & Africa
3.3 Comparison of LPWAN standards
3.4 LPWAN architecture
3.5 Industry ecosystem analysis
3.5.1 Hardware providers
3.5.2 LPWAN technology providers
3.5.3 Telecom service providers
3.5.4 Cloud platform providers
3.5.6 Profit margin analysis
3.5.7 Vendor matrix
3.6 Technological evolution
3.7 Technology & innovation landscape
3.7.1 Internet of Things (IoT)
3.7.2 Introduction of 5G
3.7.3 Hybrid chipsets
3.8 Regulatory landscape
3.8.1 LPWA Standards
3.8.2 3GPP Release
3.8.3 IEEE 802.15.14-2015 Standard for Low-Rate Wireless Networks
3.8.4 LoRaWAN R1.0 Open Standard
3.8.5 Short Range Devices Spectrum Regulations, EU
3.8.6 DASH7 Alliance ProtocolUse cases
3.9 Patent analysis
3.11 Investment portfolio
3.12 Industry impact forces
3.12.1 Growth drivers
188.8.131.52 Support for both licensed and unlicensed spectrum
184.108.40.206 Increasing invest by telecom operators in NB-IoT and LTE-M
220.127.116.11 Initiatives by industry alliances for developing LPWAN standards
18.104.22.168 Growing demand for low-cost, long-range M2M communications
22.214.171.124 Increasing popularity of smart city applications
3.12.2 Industry pitfalls & challenges
126.96.36.199 Early-stage standards
188.8.131.52 Network interference and co-existence issues
3.13 Porter’s analysis
3.14 PESTEL analysis
3.15 Growth potential analysis
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