Low power wide area network (LPWAN) market is anticipated to grow at a CAGR of 45.7% during the forecast period (2024–2031). The market is driven by an increase in the development of smart cities and smart buildings, low power consumption demand, usage of more devices over a large coverage area, and an increase in the demand for economic LPWAN technology.
LPWAN market is growing attributed to the increasing adoption of lower-power Internet of Things (IoT) and machine-to-machine applications, for a wide range of emerging applications in sectors including industrial, smart cities, environment monitoring, agriculture, health care, and more. The applications are attributed to LPWAN's capabilities to offer less complex and economical remote nodes and objects with very low power consumption, extending the lifetime of battery-operated nodes to months and years. However, the market growth is restrained by rising security concerns, high infrastructure costs, and limited data rates, interference, and reliability.
Browse the full report description of “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)” at https://www.omrglobal.com/industry-reports/low-power-wide-area-network-lpwan-market-size
North America is estimated to capture a significant market share during the forecast period, owing to the growing IoT technology such as wearable. In addition to that, the advancements toward smart city initiatives in the region are enhancing demand for LPWAN technologies. Additionally, various market players are concentrating on developing IoT devices that reduce energy consumption.
Market Coverage
· The market number available for 2023-2031
· Base year: 2023
· Forecast period: 2024-2031
· Segment Covered-
o By Technology
o By Application
o By End-User
· Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape: Actility SA, Cisco Systems, Inc., Huawei Technologies Co. Ltd, Semtech Corp., Senet, Inc. among others.
Key questions addressed by the report
Global Low Power Wide Area Network (LPWAN) Market Report Segment
By Technology
By Application
By End-User
Global Low Power Wide Area Network (LPWAN) Market Report Segment by Region
North America
· United States
· Canada
Europe
· UK
· Germany
· Italy
· Spain
· France
· Rest of Europe
Asia-Pacific
· China
· India
· Japan
· South Korea
· Rest of Asia-Pacific
Rest of the World
· Latin America
· Middle East and Africa
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