New York, US, Nov. 23, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “LPWAN Market Research Report: by Network Deployment, Connectivity Technology, Application, Service, and Vertical- Forecast till 2030”, the global market or low power vast area network is anticipated to thrive considerably during the assessment period from 2020 to 2030 at a healthy growth rate of approximately 87%.
Global LPWAN Market Overview:
Low Power Wide Area Network (LPWAN) operates on wireless communication technology between devices connected through a hub or switch using waves. LPWAN operates in low-range areas spreading within 10 km to 1000 km radii based on telecommunication with less power functioning on small cheap batteries with a lifetime of more than 20 years. LPWAN utilizes lightweight hardware material with a highly cost-effective lowering of heavy infrastructure needs.
Low Power WAN Market Competitive Analysis
The list of the key participants across the low power wide area network market includes players such as:
- Telefonica SA (Spain)
- Semtech Corporation (U.S.)
- Huawei Technologies Co. Ltd. (China)
- Cisco Systems (U.S.)
- Senet, Inc. (U.S.)
- Actility (France)
- NWave Technologies (London)
- Weightless SIG (U.K)
- LORIOT (Switzerland)
- SIGFOX (France)
- Ingenu (U.S.)
- WAVIoT (U.S.)
- Link Labs Inc. (U.S.)
- Vodafone Group Plc. (U.K)
- Qualcomm Inc. (U.S.)
- AT&T Inc. (Germany)
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Several industry sectors use unlicensed and licensed frequencies to benefit network use, making users adopt them as service or outsource them to third party organizations without direct use of technology. Sigfox is believed to be the most deployed LPWAN with an unlicensed frequency running on a public or local network of 902 megahertz with an ultra-narrow range capable of communicating through messages time-consuming conventional techniques of low range data transfer, including WIFI and Bluetooth, which was time-consuming and was limited to local areas but with the launch of Low Power Wide Area Network transmission of electro waves has had a significant impact on the technology around by working in small isolate places such as trains, trucks, cars, and other automobiles to mutual use in home appliances, electric bikes, street light, and many more.
LPWAN Market USP Covered
Market Drivers
The Low Power Wide Area Network Market growth is credited to the factors such as growing investments, technological developments, and the launch of innovative products.
Market Restraints
On the other hand, the competition with the local individual network in management with the available WIFI networks is likely to limit the market's development.
Low Power Wide Area Network Market Report Scope:
| Report Metrics | Details |
| LPWAN Market Size by 2030 | USD 1120 Billion |
| LPWAN Market Growth | 87% CAGR |
| Base Year | 2019 |
| Forecast | 2020-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | Low Power Wide Area Network Market Trends has created multiple opportunities in all the major industrial sectors around the world. |
| Key Market Drivers | Healthcare industry has shown the most significant growth with LPWAN |
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COVID-19 Impact of LPWAN Market
The global market for low-power wide area networks has witnessed significant challenges during the pandemic. On the other hand, with the rapidly growing I.T. sector, the global market for low-power wide area networks is anticipated to demonstrate tremendous growth over the coming years.
LPWAN Market Segment Analysis
Communication Type Insights enhanced Mobile Broadband (eMBB) segment is anticipated to secure the top position across the low power wide area network market over the coming years. The primary concentration by market players is on offering better broadband capabilities for applications, such as uninterrupted video calls, UHD video, AR/VR, and high-speed cloud-based gaming. The early level of the rollout is anticipated to concentrate on a 5G wireless non-standalone deployment model. eMBB offers very high data speeds for commercial and residential use. Therefore, eMBB is anticipated to serve various use cases, such as virtual meeting, 4K video access, and in-vehicle infotainment, therefore boosting the segment's growth.
On the other hand, the massive Machine-Type Communications (mMTC) segment is predicted to show the highest growth rate over the coming years. Massive machine-type communications envisage serving the rising requirement for a developed digital ecosystem. mMTC highlights offering services for high connection density applications, such as smart cities and smart buildings. The rising requirement to make sure continuous connectivity for all the IoT devices implemented in a network is also likely to catalyze the segment's growth.
Among all the verticals, the enterprise segment is anticipated to secure the top position across the global market for low-power vast area networks over the assessment era. The segment's growth is predicted to maintain the lead over the coming years mainly because of the significant investments by key players in the latest technologies for communication. The rising demand for higher data speeds for commercial and residential applications is also likely to boost the growth of the I.T. & telecom segment over the review era. On the other hand, the consumer segment is likely to show the maximum growth rate over the review era.
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LPWAN Market Regional Analysis
The global market for low-power wide area networks is analyzed across five critical geographies: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
The MRFR analysis reports anticipate that the Asia-Pacific region will be the top spot across the low power wide area network market over the review era. Emerging nations such as India, Japan, and China are considered the top growth contributors across the region, with the maximum utilization of low-power vast area networks producing more significant revenue for the cloud market. Prime market contributors such as K.T. Corp., SK Telecom, China Mobile, and China Telecom are investing heavily in launching innovative network infrastructure. The investments will likely boost the development of the Asia-Pacific regional market over the review era. Furthermore, the high demand for smartphones backing higher data speeds has caused robust production of 5G-powered smartphones across the region. Low power vast area network is anticipated to attain massive traction as prime smartphone producers across the region, such as Samsung Electronics Co., Ltd., BBK Electronics Corp., and Huawei Technologies Co. Ltd., keep on launching 5G-enabled smartphones in response to the rapidly growing demand.
The North American regional market for low-power wide area networks is anticipated to show substantial growth over the coming years. Canada and the U.S. have been after the market trends to blend their present industries with low power vast area network compatible devices, particularly in organizations such as FedEx and AT&T in the transportation and package delivery market.
The European regional market for low power wide area networks is predicted to ensure the top spot across the globe. The nations across the region, such as the UK, Germany, and France, have rapid development of LPWAN, having launched long-range power device detecting startups to the world with the government's help.
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The Middle East & African regional market for low power wide area networks is anticipated to show considerable development over the review era.
Related Reports:
Global Wireless Network Infrastructure Ecosystem Market Information Report: by Communication Infrastructure, by Connectivity Technology, and Region — Forecast to 2030
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