Low Power Wide Area Network (LPWAN) Market
Low Power Wide Area Network (LPWAN) Market Size, Share & Trends Analysis Report By Technology (Random Phase Multiple Access (RPMA), LoRaWAN (Long Range Wide Area Network, Weightless SIG, GreenOFDM. Ultra-Narrow Band, Sigfox, and Others), by Application (Smart Home, Monitoring and Security, Smart Agriculture and Energy, Smart City and Security, Industrial IoT Deployments, and Other), and by End-User (Healthcare, Transportation and Logistics, Oil and Gas, Consumer Electronics, Agriculture, and Others) Forecast Period (2024-2031)
Low power wide area network (LPWAN) market is anticipated to grow at a CAGR of 45.7% during the forecast period (2024-2031). The LPWAN market is renewed by the rise of IoT devices in various industries, offering cost-effective, low-power connectivity solutions. Government policies and regulatory support encourage the use, particularly in smart grid deployments, energy management, and sustainability initiatives, promoting global connectivity and seamless integration.
Market Dynamics
Proliferation of IoT Devices
The global increase in IoT devices demands efficient and scalable connectivity solutions, such as LoRaWAN and NB-IoT, which can connect vast numbers of devices over long distances with minimal power consumption. According to the IEEE Org., in May 2023, it is estimated that the globe has over 16.7 billion connected Internet of Things (IoT) devices, highlighting the need for robust security measures. Without proper protection, IoT security is necessary for globally deployed networks to preserve user trust since devices can serve as easy targets.
Advancements in LPWAN Technologies
Advancements in hardware and protocol development enhance the reliability and efficiency of LPWAN systems, enhancing network coverage, data efficiency, and battery life, driving market growth. For instance, in March 2023, Fibocom Wireless partnered with Sony Semiconductor Israel and launched the 5G LPWA module MS18 series, powered by Sony's ALT1350 chipset. The module offers ultra-low power consumption and reliable wireless connectivity for the 5G massive IoT market. It supports 3GPP Release 14-17, unlicensed spectrum communications protocols, NTN satellite communications, Wi-Fi SSID-based location, and Short-range radio.
Market Segmentation
- Based on technology, the market is segmented into random phase multiple access (RPMA), LoRaWAN (long-range wide area network), weightless sig, greenOFDM, ultra-narrow band, sigfox, and others (NB-IoT (narrowband IoT)).
- Based on the application, the market is segmented into smart homes, monitoring and security, smart agriculture and energy, smart city and security, industrial IoT deployments, and others (agriculture, logistics and supply chain, consumer electronics).
- Based on end-users, the market is segmented into healthcare, transportation and logistics, oil and gas, consumer electronics, agriculture, and others (environmental monitoring, and retail).
Transportation and Logistics Sub-Segment To Hold a Considerable Market Share
The demand for efficient logistics solutions that improve productivity and preserve costs for real-time tracking and monitoring operations is driving the development of LPWAN technologies. According to the US Department of Transportation, in 2022, the US transportation system accommodated 333 million residents living in 124 million households, as well as individuals without personal vehicles, infrequent travelers, and millions of international visitors. It facilitated commuting, access to goods and services, social visits, and both leisure and business travel. Additionally, it played a crucial role in the economy by linking 8.1 million business establishments with their customers, suppliers, and workforce.
Regional Outlook
The global low power wide area network (LPWAN) market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Data Usage and Network Optimization In the Asia-Pacific Region
As data usage continues to rise and the need for network optimization becomes more critical, scalable and reliable connectivity solutions such as LPWAN are essential. LPWAN technologies facilitate efficient data transmission, remote management, and real-time analytics, meeting the increasing demand for IoT-driven insights and operational intelligence. The solutions ensure that networks can handle higher data volumes and maintain optimal performance. According to the Telecom Regulatory Authority of India, in September 2023, the telecom industry contributed 6.5% to GDP and is expected to grow further with 5G deployments. India's digital economy is expected to reach $1 trillion by 2025 due to increased smartphone proliferation, internet penetration, mobile broadband growth, data usage, and social media penetration. Promoting domestic manufacturing to meet equipment demand will contribute to GDP, employment, exports, and India's international value chain.
Global Low Power Wide Area Network (LPWAN) Market Growth by Region 2024-2031
North America Holds Major Market Share
LPWAN technologies, known for their enhanced security, long battery life, and efficient data transmission rates, are increasingly utilized in EV charging applications to align with the advancing requirements of smart transportation infrastructure that propels market growth. According to the International Energy Agency (IEA) org., in 2023, the US installed 6,300 fast chargers in 2022, with approximately three-quarters being Tesla Superchargers, bringing the total number of rapid chargers to 28,000 by the end of the year. The deployment of fast chargers is expected to accelerate due to the National Electric Vehicle Infrastructure Formula Program (NEVI), which has received government approval. All US states, Washington DC, and Puerto Rico are participating in the program and have been allocated USD 885 million for 2023 to support the installation of chargers across 122,000 km of highway, with new national standards announced by the US Federal Highway Administration to ensure consistency, reliability, accessibility, and compatibility.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the global low power wide area network (LPWAN) market include Actility SA, Cisco Systems, Inc., Huawei Technologies Co. Ltd, Semtech Corp., and Senet, Inc. among others. The market players are focusing on capitalizing on growth by adopting strategies such as collaboration, partnerships, and market expansion among others. For instance, in June 2023, Velos IoT launched Connect LPWA, a Low Power Wide Area coverage solution for resellers, enterprises, and OEMs on 2G and 3G networks. The solution offers energy-efficient devices with reduced cost and maximized battery life. It supports NB-IoT and CAT-M1 technologies, supporting low-power features like Power Saving Mode and eDRX. Users can allocate dynamic and fixed IPs and connect securely through custom APNs, managed on the Nomad Connectivity Management Platform. The Connect LPWA solution aims to maximize device lifetime and battery life.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global low power wide area network (LPWAN) market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Market Trends
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Actility, SA
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Cisco Systems, Inc.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Huawei Technologies Co. Ltd
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Low Power Wide Area Network Market by Technology
4.1.1. Random Phase Multiple Access (RPMA)
4.1.2. LoRaWAN (Long Range Wide Area Network)
4.1.3. Weightless SIG
4.1.4. GreenOFDM
4.1.5. Ultra-Narrow Band
4.1.6. Sigfox
4.1.7. Others (NB-IoT (Narrowband IoT))
4.2. Global Low Power Wide Area Network Market by Application
4.2.1. Smart Home
4.2.2. Monitoring and Security
4.2.3. Smart Agriculture and Energy
4.2.4. Smart City and Security
4.2.5. Industrial IoT Deployments
4.2.6. Other (Agriculture, Logistics and Supply Chain, and Consumer Electronics)
4.3. Global Low Power Wide Area Network Market by End-User
4.3.1. Healthcare
4.3.2. Transportation and Logistics
4.3.3. Oil and Gas
4.3.4. Consumer Electronics
4.3.5. Agriculture
4.3.6. Others (Environmental Monitoring, and Retail)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East and Africa
6. Company Profiles
6.1. Aeris Communications, Inc.
6.2. AT&T Inc.
6.3. Digi International Inc.
6.4. GreenWaves Technologies
6.5. Ingenu Inc.
6.6. Libelium Comunicaciones Distribuidas S.L.
6.7. Multi-Tech Systems Inc.
6.8. Murata Manufacturing Co., Ltd.
6.9. Orange Business
6.10. Pessl Instruments
6.11. Qualcomm Technologies, Inc.
6.12. Semtech Corp.
6.13. Senet, Inc.
6.14. Telensa Ltd.
6.15. Thales S.A.
6.16. TRILLIANT HOLDINGS INC.
6.17. Vodafone Group
1. Global Low Power Wide Area Network Market Research And Analysis By Technology, 2023-2031 ($ Million)
2. Global Random Phase Multiple Access Low Power Wide Area Network Market Research And Analysis By Region, 2023-2031 ($ Million)
3. Global Lorawan Low Power Wide Area Network Market Research And Analysis By Region, 2023-2031 ($ Million)
4. Global Weightless SIG Low Power Wide Area Network Market Research And Analysis By Region, 2023-2031 ($ Million)
5. Global GreenOFDM Low Power Wide Area Network Market Research And Analysis By Region, 2023-2031 ($ Million)
6. Global Ultra-Narrow Band Low Power Wide Area Network Market Research And Analysis By Region, 2023-2031 ($ Million)
7. Global Sigfox Low Power Wide Area Network Market Research And Analysis By Region, 2023-2031 ($ Million)
8. Global Other Technology Band Low Power Wide Area Network Market Research And Analysis By Region, 2023-2031 ($ Million)
9. Global Low Power Wide Area Network Market Research And Analysis By Application, 2023-2031 ($ Million)
10. Global Low Power Wide Area Network In Smart Home Market Research And Analysis By Region, 2023-2031 ($ Million)
11. Global Low Power Wide Area Network In Monitoring And Security Market Research And Analysis By Region, 2023-2031 ($ Million)
12. Global Low Power Wide Area Network In Smart Agriculture And Energy Market Research And Analysis By Region, 2023-2031 ($ Million)
13. Global Low Power Wide Area Network In Smart City And Security Market Research And Analysis By Region, 2023-2031 ($ Million)
14. Global Low Power Wide Area Network In Industrial IoT Deployments Market Research And Analysis By Region, 2023-2031 ($ Million)
15. Global Low Power Wide Area Network In Other Application Market Research And Analysis By Region, 2023-2031 ($ Million)
16. Global Low Power Wide Area Network Market Research And Analysis By End-User, 2023-2031 ($ Million)
17. Global Low Power Wide Area Network For Healthcare Market Research And Analysis By Region, 2023-2031 ($ Million)
18. Global Low Power Wide Area Network For Transportation and Logistics Market Research And Analysis By Region, 2023-2031 ($ Million)
19. Global Low Power Wide Area Network For Oil and Gas Market Research And Analysis By Region, 2023-2031 ($ Million)
20. Global Low Power Wide Area Network For Consumer Electronics Market Research And Analysis By Region, 2023-2031 ($ Million)
21. Global Low Power Wide Area Network For Agriculture Market Research And Analysis By Region, 2023-2031 ($ Million)
22. Global Low Power Wide Area Network For Other End-User Market Research And Analysis By Region, 2023-2031 ($ Million)
23. Global Low Power Wide Area Network Market Research And Analysis By Region, 2023-2031 ($ Million)
24. North American Low Power Wide Area Network Market Research And Analysis By Country, 2023-2031 ($ Million)
25. North American Low Power Wide Area Network Market Research And Analysis By Technology, 2023-2031 ($ Million)
26. North American Low Power Wide Area Network Market Research And Analysis By Application, 2023-2031 ($ Million)
27. North American Low Power Wide Area Network Market Research And Analysis By End-User, 2023-2031 ($ Million)
28. European Low Power Wide Area Network Market Research And Analysis By Country, 2023-2031 ($ Million)
29. European Low Power Wide Area Network Market Research And Analysis By Technology, 2023-2031 ($ Million)
30. European Low Power Wide Area Network Market Research And Analysis By Application, 2023-2031 ($ Million)
31. European Low Power Wide Area Network Market Research And Analysis By End-User, 2023-2031 ($ Million)
32. Asia-Pacific Low Power Wide Area Network Market Research And Analysis By Country, 2023-2031 ($ Million)
33. Asia-Pacific Low Power Wide Area Network Market Research And Analysis By Technology, 2023-2031 ($ Million)
34. Asia-Pacific Low Power Wide Area Network Market Research And Analysis By Application, 2023-2031 ($ Million)
35. Asia-Pacific Low Power Wide Area Network Market Research And Analysis By End-User, 2023-2031 ($ Million)
36. Rest Of The World Low Power Wide Area Network Market Research And Analysis By Region, 2023-2031 ($ Million)
37. Rest Of The World Low Power Wide Area Network Market Research And Analysis By Technology, 2023-2031 ($ Million)
38. Rest Of The World Low Power Wide Area Network Market Research And Analysis By Application, 2023-2031 ($ Million)
39. Rest Of The World Low Power Wide Area Network Market Research And Analysis By End-User, 2023-2031 ($ Million)
1. Global Low Power Wide Area Network Market Share By Technology, 2023 Vs 2031 (%)
2. Global Random Phase Multiple Access Low Power Wide Area Network Market Share By Region, 2023 Vs 2031 (%)
3. Global LoRaWAN Low Power Wide Area Network Market Share By Region, 2023 Vs 2031 (%)
4. Global Weightless SIG Low Power Wide Area Network Market Share By Region, 2023 Vs 2031 (%)
5. Global GreenOFDM Low Power Wide Area Network Market Share By Region, 2023 Vs 2031 (%)
6. Global Ultra-Narrow Band Low Power Wide Area Network Market Share By Region, 2023 Vs 2031 (%)
7. Global Sigfox Low Power Wide Area Network Market Share By Region, 2023 Vs 2031 (%)
8. Global Other Technology Low Power Wide Area Network Market Share By Region, 2023 Vs 2031 (%)
9. Global Low Power Wide Area Network Market Share By Application, 2023 Vs 2031 (%)
10. Global Low Power Wide Area Network In Smart Home Market Share By Region, 2023 Vs 2031 (%)
11. Global Low Power Wide Area Network In Monitoring and Security Market Share By Region, 2023 Vs 2031 (%)
12. Global Low Power Wide Area Network In Smart Agriculture and Energy Market Share By Region, 2023 Vs 2031 (%)
13. Global Low Power Wide Area Network In Smart City and Security Market Share By Region, 2023 Vs 2031 (%)
14. Global Low Power Wide Area Network In Industrial IoT Deployments Market Share By Region, 2023 Vs 2031 (%)
15. Global Low Power Wide Area Network In Other Application Market Share By Region, 2023 Vs 2031 (%)
16. Global Low Power Wide Area Network Market Share By End-User, 2023 Vs 2031 (%)
17. Global Low Power Wide Area Network For Healthcare Market Share By Region, 2023 Vs 2031 (%)
18. Global Low Power Wide Area Network For Transportation and Logistics Market Share By Region, 2023 Vs 2031 (%)
19. Global Low Power Wide Area Network For Oil and Gas Market Share By Region, 2023 Vs 2031 (%)
20. Global Low Power Wide Area Network For Consumer Electronics Market Share By Region, 2023 Vs 2031 (%)
21. Global Low Power Wide Area Network For Agriculture Market Share By Region, 2023 Vs 2031 (%)
22. Global Low Power Wide Area Network For Other End-User Market Share By Region, 2023 Vs 2031 (%)
23. Global Low Power Wide Area Network Market Share By Region, 2023 Vs 2031 (%)
24. US Low Power Wide Area Network Market Size, 2023-2031 ($ Million)
25. Canada Low Power Wide Area Network Market Size, 2023-2031 ($ Million)
26. UK Low Power Wide Area Network Market Size, 2023-2031 ($ Million)
27. France Low Power Wide Area Network Market Size, 2023-2031 ($ Million)
28. Germany Low Power Wide Area Network Market Size, 2023-2031 ($ Million)
29. Italy Low Power Wide Area Network Market Size, 2023-2031 ($ Million)
30. Spain Low Power Wide Area Network Market Size, 2023-2031 ($ Million)
31. Rest Of Europe Low Power Wide Area Network Market Size, 2023-2031 ($ Million)
32. India Low Power Wide Area Network Market Size, 2023-2031 ($ Million)
33. China Low Power Wide Area Network Market Size, 2023-2031 ($ Million)
34. Japan Low Power Wide Area Network Market Size, 2023-2031 ($ Million)
35. South Korea Low Power Wide Area Network Market Size, 2023-2031 ($ Million)
36. Rest Of Asia-Pacific Low Power Wide Area Network Market Size, 2023-2031 ($ Million)
37. Latin America Low Power Wide Area Network Market Size, 2023-2031 ($ Million)
38. Middle East And Africa Low Power Wide Area Network Market Size, 2023-2031 ($ Million)
