Selbyville, Delaware,, Nov. 29, 2022 (GLOBE NEWSWIRE) --
The LPWAN market valuation is projected to reach USD 350 billion by 2032, as reported in a research study by Global Market Insights Inc.
The acceleration of smart city programs is a prominent driver for low power wide area network technology deployment, especially in developing nations. For example, broad federal initiatives to expand smart city innovation have been revived since the passage of the U.S. Infrastructure Investment and Jobs Act. Such developments will encourage the adoption of connected devices to facilitate data exchange and in consequence, increase the use of low-power WAN connections for smart city IoT applications will create lucrative growth opportunities for low power wide area network market.
Unlicensed LPWAN networks are exposed to co-existing weaknesses and interference vulnerabilities while operating in congested ISM bands. Additionally, there are risks of data collision and eventual loss since the chances of another network sending data packets are high. The growing awareness of network interference and co-existing issues may create a hindrance to business expansion. Despite these challenging environments, the presence of both licensed and unlicensed frequency spectrums will augment LPWAN connectivity.
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Secure provisioning and activation challenges to influence managed LPWAN service demand
The service component segment will account for more than 35% of the LPWAN market share by 2032. Managed services are gaining traction due to their capability to handle day-to-day operations and secure IT networks. LoRaWAN service providers face challenges related to secure provisioning and device activation. To address these challenges, organizations make use of managed services to take up new market opportunities and cater to issues associated with technology integration, security, and skills shortage. As per the report, these factors will proliferate the uptake of LPWAN services to facilitate organizational success.
Rising waste disposal concerns bolster the development of low power wide area network connections
The smart waste management application segment is slated to depict over 55% CAGR through 2032, considering the increasing development of smart cities. Municipal authorities are increasingly facing challenges associated with the accumulation of waste. In complex city environments, LPWAN technology ensures the connection of sensor-equipped waste collectors. The report reveals the high concern about proper waste disposal as a key reason behind accelerating LPWAN connectivity demand.
Data security & control attributes to promote on-premise LPWAN network deployment
The on-premise deployment model segment held approximately 50% of the LPWAN market share in 2022, owing to its ability to help organizations build and manage their LPWAN for IoT applications. On-premise LPWAN networks can also manage the LORA gateways and other whole network elements, allowing organizations to gain complete control of the transmitted data through data security. These benefits will contribute to the consumption of low-power WAN connectivity.
Advancements in machine-to-machine technology fuel LPWAN usage in consumer electronics
The consumer electronics segment is set to exhibit around 55% growth rate between 2023 and 2032. The mounting deployment of machine-to-machine technology to deliver compelling electronic services is one of the key growth drivers. The consumption of smart electronic devices including fitness trackers, home automation solutions, and security alarms has increased substantially. This, in turn, will accelerate the use of IoT-enabled products and subsequently fuel LPWAN installations.
Emphasis on secure mining operations to foster LPWAN connections in LATAM
The Latin America LPWAN market revenue to cross USD 30 billion by 2032. This is a result of the implementation of LPWAN systems to provide real-time monitoring of parameters inside underground mines. The surging demand for safe and automated mines, alongside the expansion of precision agriculture and smart city projects, is likely to impact service demand in the region.
Innovative network management system launches to define competetive landscape
Orange Business Services, Sierra Wireless, Avnet, Inc., CONNIT, Huawei Technologies Co., Ltd., Link Labs, LORIOT.IO, Nwave, Sigfox, AT&T Inc., Ingenu Inc., and WavIoT are some of the key players profiled in the report. These companies are focusing on innovative system launches and other initiatives to boost their foothold in the low power wide area network market.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 LPWAN industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.2.1 TAM
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 Industry Insights
3.1 Introduction
3.2 Impact of COVID-19 outbreak
3.2.1 North America
3.2.2 Europe
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
3.5.5 End-users
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
3.10 News
3.11 Investment portfolio
3.12 Industry impact forces
3.12.1 Growth drivers
3.12.1.1 Support for both licensed and unlicensed spectrum
3.12.1.2 Increasing invest by telecom operators in NB-IoT and LTE-M
3.12.1.3 Initiatives by industry alliances for developing LPWAN standards
3.12.1.4 Growing demand for low-cost, long-range M2M communications
3.12.1.5 Increasing popularity of smart city applications
3.12.2 Industry pitfalls & challenges
3.12.2.1 Early-stage standards
3.12.2.2 Network interference and co-existence issues
3.13 Porter’s analysis
3.14 PESTEL analysis
3.15 Growth potential analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
