Low Power Wide Area Network (LPWAN) Market Analysis | 2031
The Low Power Wide Area Network (LPWAN) market size is expected to grow from US$ 9.50 billion in 2023 to US$ 321.44 billion by 2031; the market is anticipated to record a CAGR of 55.3% from 2024 to 2031. The exponential growth in smart city infrastructure is likely to remain a key trend in the market.
Low Power Wide Area Network (LPWAN) Market Analysis
The growth of the low-power WAN market is primarily driven by factors such as an increase in demand for smart city initiatives and a rise in the need for real-time monitoring and control of assets. These factors contribute to the development and implementation of low power wide area network (LPWAN), which enables efficient and cost-effective connectivity for a wide range of applications in smart cities and asset management systems.
Low Power Wide Area Network (LPWAN) Market Overview
Low-power wide-area network (LPWAN) is a wireless technology that enables long-distance communication at low bit rates. It is specifically designed to connect low-power devices over considerable distances while maintaining slow data speeds. LPWANs provide a low-cost, low-power, and wide-area connection, making them beneficial for devices that require long battery life and the ability to send data over large distances. The LPWAN market is expected to grow rapidly in the coming years due to the increasing demand for low-power, wide-area connectivity for Internet of Things (IoT) devices. Various industries, including agriculture, healthcare, logistics, and transportation, are implementing LPWAN technology.
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Low Power Wide Area Network (LPWAN) Market: Strategic Insights
Low Power Wide Area Network (LPWAN) Market
-
CAGR (2024 - 2031)
55.3%
-
Market Size 2023
US$ 9.50 Billion
-
Market Size 2031
US$ 321.44 Billion
Market Dynamics
GROWTH DRIVERS
- Real-time monitoring and control of assets
FUTURE TRENDS
- increasing adoption of IoT/M2M devices
OPPORTUNITIES
- Increase in demand for smart city initiatives
Key Players
- Nwave Technologies
- SIGFOX
- Semtech Corporation
- LORIOT IO
- Link Labs Inc
- Waviot
- Ingenu Inc
- Actility
- AT T Intellectual Property
- Senet Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Connectivity Technology
- LoRaWAN
- Weightless
- Sigfox
- NB-IoT
- Wi-SUN
Services
- Professional and Managed
Application
- Smart Streetlight
- Smart Metering
- Smart Building
- Smart Waste Management
- Smart Parking
- Asset Management & Tracking
End-user
- Smart City
- Oil and Gas
- Healthcare
- Manufacturing
- Logistics and Transportation
- Agriculture
- Consumer Electronics
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Low Power Wide Area Network (LPWAN) Market: Strategic Insights
-
CAGR (2024 - 2031)55.3% -
Market Size 2023
US$ 9.50 Billion -
Market Size 2031
US$ 321.44 Billion
Market Dynamics
- Real-time monitoring and control of assets
- increasing adoption of IoT/M2M devices
- Increase in demand for smart city initiatives
Key Players
- Nwave Technologies
- SIGFOX
- Semtech Corporation
- LORIOT IO
- Link Labs Inc
- Waviot
- Ingenu Inc
- Actility
- AT T Intellectual Property
- Senet Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- LoRaWAN
- Weightless
- Sigfox
- NB-IoT
- Wi-SUN
- Professional and Managed
- Smart Streetlight
- Smart Metering
- Smart Building
- Smart Waste Management
- Smart Parking
- Asset Management & Tracking
- Smart City
- Oil and Gas
- Healthcare
- Manufacturing
- Logistics and Transportation
- Agriculture
- Consumer Electronics
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Low Power Wide Area Network (LPWAN) Market Drivers and Opportunities
Real-Time Monitoring and Control of Assets to Favor Market
LPWAN technology offers an ideal solution for businesses seeking to effectively monitor and manage their assets, including industrial equipment, agricultural machinery, and vehicles. Businesses can monitor the condition of their machinery in real time, which enables them to proactively identify and address potential issues before they escalate, mitigating the risk of unexpected downtime and costly repairs. Additionally, businesses can track the location of their vehicles, optimize routes, and monitor driver behavior, resulting in enhanced operational efficiency and cost savings.
Increase in Smart City Initiatives
Smart city initiatives aim to enhance city services and improve residents' quality of life. These initiatives rely on LPWAN (Low Power Wide Area Network) technology, which provides affordable and energy-efficient wireless connectivity for a large number of devices. LPWAN enables various applications, including vehicle-to-vehicle and vehicle-to-infrastructure communication, which are crucial for smart city solutions.
Low Power Wide Area Network (LPWAN) Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Low Power Wide Area Network (LPWAN) market analysis are connectivity technology, services, application, and end-users.
- Based on connectivity technology, the market is divided into LoRaWAN, Weightless, Sigfox, NB-IoT, and Wi-SUN. The LoRaWAN segment held the largest market share in 2023.
- Based on services, the market is divided into professional and managed. The professional segment held a larger market share in 2023.
- In terms of application, the market is categorized into smart streetlight, smart metering, smart building, smart waste management, smart parking, and asset management and tracking. The smart metering segment held the largest market share in 2023.
- Based on end-users, the market is divided into smart city, oil and gas, healthcare, manufacturing, logistics and transportation, agriculture, and consumer electronics. The smart city segment held the largest market share in 2023.
Low Power Wide Area Network (LPWAN) Market Share Analysis by Geography
The geographic scope of the Low Power Wide Area Network (LPWAN) market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America. North America dominated the low power wide area network market in 2023, owing to its strong industrial base, government support for innovation, and high purchasing power. The growth in this region is mainly driven by the increasing demand for mobile and wearable devices and the growing need for IoT devices. However, Asia-Pacific is projected to experience the highest growth rate, fueled by factors such as growing industrialization and rising demand for automation and digitalization. LPWAN technology is particularly well-suited for IoT applications in industries such as smart cities, agriculture, logistics, and healthcare.
Low Power Wide Area Network (LPWAN) Market Report Scope
Report Attribute
Details
Market size in 2023
US$ 9.50 Billion
Market Size by 2031
US$ 321.44 Billion
Global CAGR (2024 - 2031)
55.3%
Historical Data
2021-2022
Forecast period
2023-2031
Segments Covered
By Connectivity Technology - LoRaWAN
- Weightless
- Sigfox
- NB-IoT
- Wi-SUN
By Services - Professional and Managed
By Application - Smart Streetlight
- Smart Metering
- Smart Building
- Smart Waste Management
- Smart Parking
- Asset Management & Tracking
By End-user - Smart City
- Oil and Gas
- Healthcare
- Manufacturing
- Logistics and Transportation
- Agriculture
- Consumer Electronics
Regions and Countries Covered
North America - US
- Canada
- Mexico
Europe - UK
- Germany
- France
- Russia
- Italy
- Rest of Europe
Asia-Pacific - China
- India
- Japan
- Australia
- Rest of Asia-Pacific
South and Central America - Brazil
- Argentina
- Rest of South and Central America
Middle East and Africa - South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Market leaders and key company profiles
- Nwave Technologies
- SIGFOX
- Semtech Corporation
- LORIOT IO
- Link Labs Inc
- Waviot
- Ingenu Inc
- Actility
- AT T Intellectual Property
- Senet Inc
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 9.50 Billion |
Market Size by 2031 | US$ 321.44 Billion |
Global CAGR (2024 - 2031) | 55.3% |
Historical Data | 2021-2022 |
Forecast period | 2023-2031 |
Segments Covered |
By Connectivity Technology
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Low Power Wide Area Network (LPWAN) Market News and Recent Developments
The low power wide area network (LPWAN) market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- Sigfox, a French-born ultra-narrowband IoT network technology, officially joined the LoRa Alliance as a contributing member. This move came after Sigfox experienced a decline and fire sale in early 2022 and was acquired by Singapore-based Unabiz. The new parent company, along with LoRaWAN expert Rémi Lorrain, facilitated Sigfox's entry into the LoRaWAN camp. This development is significant considering the historical rivalry between Sigfox and LoRaWAN in the low-power wide-area network (LPWAN) space.
(Source: Sigfox, Press Release, July 2023)
- Semtech announced that it had successfully integrated Sigfox '0G' technology into its SX126x range of LoRa chipsets. This integration allows for compatibility with LoRaWAN and other LoRa-based networks. This development is part of Semtech's ongoing efforts to incorporate Sigfox technology at the chip level. Previously, Semtech successfully integrated Sigfox technology into its budget-friendly LCC68 transceiver and advanced LR series, which offers features such as multi-constellation GNSS and passive Wi-Fi scanning capabilities.
(Source: Semtech, Press Release, December 2022)
Low Power Wide Area Network (LPWAN) Market Report Coverage and Deliverables
The "Low Power Wide Area Network (LPWAN) Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Low power wide area network (LPWAN) market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Low power wide area network (LPWAN) market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Low power wide area network (LPWAN) market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the low power wide area network (LPWAN) market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Connectivity Technology ; Services ; Application ; End-user
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
The global Low Power Wide Area Network (LPWAN) market is expected to reach US$ 321.44 billion by 2031.
The key players holding the majority of shares in the global Low Power Wide Area Network (LPWAN) market are Nwave Technologies, SIGFOX, Semtech Corporation, LORIOT.IO, and Link Labs, Inc.
The increase in demand for smart city initiatives is anticipated to play a significant role in the global Low Power Wide Area Network (LPWAN) market in the coming years.
The real-time monitoring and control of assets offered by LPWAN are some factors that propel the global Low Power Wide Area Network (LPWAN) market.
The Low Power Wide Area Network (LPWAN) market size is expected to grow from US$ 9.50 billion in 2023 to US$ 321.44 billion by 2031; it is anticipated to expand at a CAGR of 55.3% from 2024 to 2031.