The Global Low Power Wide Area Network Market is projected to reach a value of over USD 327.6 Billion by 2027 at a CAGR of around 74.6%.
Low Power Wide Area Network (LPWAN) is a wireless telecommunication technology which is mostly used in organizations for the long range of communication. It is used in wide area through interconnection of low bandwidth and devices for the long range. The network is mostly used for the purpose of machine to machine networking. Also, the network helps in connecting and improving the quality of business, as well as have the ability to transport more data of long range communication.
Moreover, the low power wide area network has the better operating capabilities than consumer mobile technologies.
Market Driver:
The increasing demand for IoT technology for less power helps to enhance the growth of low power wide area network. Also, these technologies provide a quick and less risk services and solutions for the users. IoT technology used for fast prototyping and deployment features may enhance the productivity of the business. Furthermore, the IoT application helps to track and monitor the health, livestock as well as the commodities of the market.
Hence, the IoT application is creating new efficiency for the organizations operate by providing a tangible value to the users which may lead to generate revenue from the market. The demand for Internet of Thing (IoT) technology is expected to surge the low power wide area network market during the forecast period.
The expanding usage of services in telecommunication sector enhances the services such as wired broadband internet television broadcasters as well as telecommunications services which may lead to increase in demand for the LPWAN in the market. It is also used to transmit the data, location monitoring as well as for the trade analysis. According to the GSM Associations in 2018, 46 NB-IoT network commercially launched over 28 different countries which includes Europe, APAC, Africa and Middle East. Moreover, the operators deploying these networks includes Mobile Network Operator (MNO) with the Long-Term Evolution (LTE) network which has already adopted in the telecom companies such as Vodafone, Telefonica, Orange and some of the Chinese operators that includes China Mobile and China Unicorn.
Therefore, expanding usage of services in telecommunication sector leads to rising the demand of the low power wide area network market during the forecast period.
Market Restraint:
The security concern intensifies from the open architecture and protocol layer design which may lead to hamper the growth of the market. Moreover, many organizations are using private network because of the security issues and privacy. Due to increase in the data traffic security concerns are rising that may act as barrier for the growth of LPWAN market in the forecast period.
The report on the low power wide area network market covers a deep dive analysis of historic, recent and current market trends. furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
Base Year for Market Calculation |
2019 |
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) |
Segments Included |
Technology, Deployment Type, Application, Platform, End-User, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Low Power Wide Area Network Market, by Technology
Low Power Wide Area Network Market, by Deployment Type
Low Power Wide Area Network Market, by Application
Low Power Wide Area Network Market, by End-User
Low Power Wide Area Network Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE LOW POWER WIDE AREA NETWORK MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY