The Low power wide area network market is expected to grow from USD 1.99 Billion in 2020 to USD 59.42 Billion by 2028, at a CAGR of 52.91% during the forecast period. Increasing usage long range connectivity between devices, increasing adoption of advanced technologies like, IoT and M2M, lesser power consumption, lesser technology cost, increasing demand for connectivity in various industries, rise of advanced technologies, such as smart cities and smart buildings, and emergence of smart and intelligent devices are some of the driving factors of the market.
The issues faced by enterprises data security concerns, no governance of low power wide area network (LPWAN) services, increasing data traffic due to increasing internet usage and no LPWAN standards. These may be the major restraining factor for the low power wide area network market.
Players will require increased investments to tackle these restraints and facilitate growth in the coming years. This report comprises drivers, restraints, opportunities, and challenges pertaining to the Low power wide area network market; and extensive value chain analysis, patent analysis, analysis of the current manufacturing capability and technology status, commercialization potential in different devices, along with market size forecasts till 2026.
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Market Overview:
The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The Low Power Wide Area Network Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Low Power Wide Area Network Market.
Further key findings from the report suggest
- The Low power wide area network market is expected to grow from USD 1.99 Billion in 2020 to USD 59.42 Billion by 2028, at a CAGR of 52.91% during the forecast period.
- The major contributing factors for the growth of the market for Low power wide area network can be increasing usage long range connectivity between devices, increasing adoption of advanced technologies like, IoT and M2M, lesser power consumption, lesser technology cost, increasing demand for connectivity in various industries, rise of advanced technologies, such as smart cities and smart buildings, and emergence of smart and intelligent devices.
- The Low power wide area network market is segmented by technology service into managed services and professional services. Managed services mostly dominate the market with a market share of approximately USD 0.8 Billion in the base year, since they leverage partnerships with prime satellite and mobile networks to offer high-end managed services to end user application providers, system integrators, and end user clients.
- The Low power wide area network market is segmented by network deployment into public sector and private sector. Public sector is to witness highest growth, at a CAGR of 53.1% in the forecast period, since it is used by government enterprises, for instance, municipal corporation focuses on developing their services such as, trash, parking, streetlights, water meters and leak detectors, and more.
- The Low power wide area network market is segmented by end user application into smart waste management, smart buildings, smart gas and water metering, smart streetlights, smart parking, livestock monitoring and others. Smart gas and water metering dominates the market with a market share of approximately USD 0.14 Billion in the base year, since LPWAN helps the segment in greater standardization between different smart meter manufacturers and vendors.
- The Low power wide area network market is segmented by industry vertical into agriculture, smart logistics and transportation, healthcare, industrial manufacturing, oil and gas, consumer electronics and others. Oil and gas segment is expected to witness the highest growth at a CAGR of 53.4% in the forecast period, since the technology will provide the segment with benefits such as plant automation, process optimization, supply chain optimization, increased safety, integrated business processes, and corporate social responsibility.
- The Low power wide area network market is segmented by geography into North, America, Europe, Asia Pacific and Rest of the World. The APAC region is expected to grow at the highest CAGR of 54.1% during the forecast period, since it is rapidly adopting M2M communication end user applications, which adds to the growth of Low power wide area network market in this region.
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For the purpose of this report, the market has been segmented on the basis of transaction mode, payment nature, payment location, purchase type, Industry vertical industry vertical and regional analysis.
- Technology Service Outlook (Revenue, USD Million; 2018–2028)
- Managed Services
- Professional Services
- Network Deployment Outlook (Revenue, USD Million; 2018–2028)
- Public Sector
- Private Sector
- End user application Outlook (Revenue, USD Million; 2018–2028)
- Smart waste management
- Smart buildings
- Smart Gas and Water Metering
- Smart Streetlights
- Smart Parking
- Livestock Monitoring
- Others
- Industry vertical Outlook (Revenue, USD; 2018-2026)
- Agriculture
- Smart Logistic and Transportation
- Healthcare
- Industrial Manufacturing
- Oil and Gas
- Consumer Electronics
- Others
- Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- US
- Canada Mexico
- Europe
- Germany
- France
- UK
- Rest Of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest Of APAC
- RoW
- Middle East Africa
- South America
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Key Advantages of Low Power Wide Area Network Market Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Low Power Wide Area Network industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Low Power Wide Area Network Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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