WASHINGTON, Feb. 09, 2022 (GLOBE NEWSWIRE) -- The Global Low Power Wide Area Network Market size is expected to reach over USD 675.75 Billion by 2028, exhibiting a CAGR of 65% during the forecast period.
Market Synopsis
Increasing demand for long-range and low-cost connectivity options among associations is expected to drive the growth of the industry. Standardized by 3GPP, Low Power Wide Area Network technologies provide big-range connectivity to Internet of Things devices and decrease their consumption of power. As these devices can transfer small amounts of information at a time and need low-speed mostly, Low Power Wide Area Network technologies including NB-IoT, LoRa, and Sigfox are used widely to back wireless network requirements, states Vantage Market Research, in a report, titled: “Low Power Wide Area Network Market by Technology Type (SIGFOX, LoRaWAN, Weightless, Others), by Deployment Model (On premise, Cloud), by Application (Industrial, Smart Buildings, Smart Parking, Precision Agriculture), by End Users (Healthcare, Agriculture, Logistics and Transportation, Manufacturing, Government), by Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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List of Prominent Players in the Low Power Wide Area Network Market:
- LORIOT (Switzerland)
- Semtech Corporation (California)
- NWave Technologies (London)
- WAVIoT (US)
- SIGFOX (France)
- Ingenu (US)
- Actility (France)
- Weightless SIG
- Link Labs (US)
- Senet, Inc. (Portsmouth)
- Vodafone (U.K.)
- Orange (France)
Market Dynamics:
Driver: Increasing Adoption of New Technology
The key factor fuelling the low power wide area network market growth is the surge in machine-to-machine communication adoption and declined cost related with its system is likely to fuel demand in the industry. The application of the market with internet of things (IoT) is also a key factor which is fuelling the low power wide area network market growth in a positive manner. Furthermore, it also offers functions that have low data rates and long battery lives.
Opportunity: Expansion of Healthcare in South Africa
In South Africa, the healthcare sector is likely to grow substantially in the forecast period. The increasing IoT adoption in healthcare associations surges the demand for a communication infrastructure which is reliable and will support IoT device connectivity. Associations face challenges associated with a device’s battery drainage problems and network connectivity issues. These determinants facilitate the Low Power Wide Area devices adoption, that helps them to track and connect devices efficiently. The IoT solutions are assimilated with LoRa-based gateways and sensors to audit high-risk systems or patients to ensure the safety of the patient.
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Regional Trends
North America dominated the market share and is likely to continue the similar trend in the forecast period. The development of smart manufacturing, rising demand for smart cities, and rising number of connected and wearable devices are driving the growth of the market. The increasing market demand for smart parking management systems, smart buildings, and precision farming is also substantially contributing to the Low Power Wide Area Network market. As precision farming requires a contact between sensor-based devices in a cost-effective manner across a long-range, the market is increasingly leveraged to fuel applications for efficient precision farming.
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Low Power Wide Area Network Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Low Power Wide Area Network Market highlights:
● Assessment of the market
● Premium Insights
● Competitive Landscape
● COVID Impact Analysis
● Historic Data, Estimates and Forecast
● Company Profiles
● Global and Regional Dynamics
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Low Power Wide Area Network Market?
- How will the Low Power Wide Area Network Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Low Power Wide Area Network Market?
- What is the Low Power Wide Area Network market drivers and restrictions?
- What will be the CAGR and size of the Low Power Wide Area Network Market throughout the forecast period?
This market titled “Low Power Wide Area Network Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 12.81 Billion |
| Projected Market Size in 2028 | USD 675.75 Billion |
| CAGR Growth Rate | CAGR of 65% From 2022 - 2028 |
| Base Year | 2021 |
| Historic Years | 2016 – 2020 |
| Forecast Years | 2022 – 2028 |
| Segments Covered | Technology Type:- SIGFOX, LoRaWAN, Weightless Deployment Model:- On premise, Cloud Application:- Industrial, Smart Buildings, Smart Parking End Users:- Healthcare, Agriculture, Logistics and Transportation |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Browse market data Tables and Figures spread through 210 Pages and in-depth TOC on "Low Power Wide Area Network Market by Technology Type (SIGFOX, LoRaWAN, Weightless, Others), by Deployment Model (On premise, Cloud), by Application (Industrial, Smart Buildings, Smart Parking, Precision Agriculture), by End Users (Healthcare, Agriculture, Logistics and Transportation, Manufacturing, Government), by Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)". View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/low-power-wide-area-network-market-154117
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