(MENAFN- iCrowdNewsWire) The Low power wide area network market is expected to grow from USD 1.3 Billion in 2018 to USD 25.4 Billion by 2026, at a CAGR of 52.9% 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:
ICT refers to both the internet-connected sphere and the mobile sphere powered by wireless networks. It also includes antiquated technologies like landlines, radio, and television broadcasting, which are still widely used today alongside cutting-edge ICT pieces like artificial intelligence and robotics.
Although ICT and IT (information technology) are sometimes used interchangeably, ICT is generally used to refer to a broader, more comprehensive list of all components related to computer and digital technologies than IT. The list of ICT components is long, and it’s still growing. Computers and telephones, for example, have been around for decades. Others are newer additions, such as smartphones, digital televisions, and robots.
Different leading key players have been profiled to get better insights into the businesses. It offers detailed elaboration on different top-level industries which are functioning in global regions. It includes informative data such as company overview, contact information, and some significant strategies followed by key players.
Further key findings from the report suggest
- The Low power wide area network market is expected to grow from USD 1.3 billion in 2018 to USD 25.4 billion by 2026, at a CAGR of 52.9% 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.
- Key players with in Low power wide area network market are LORIOT (Switzerland), Semtech Corporation (California), NWave Technologies (London), WAVIoT (Texas), SIGFOX (France), Ingenu (San Diego), Link Labs (Maryland), Weightless SIG, and Senet, Inc. (Portsmouth).
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, 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.
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Global Low Power Wide Area Network Market Key Segments:
Technology Service Outlook (Revenue, USD Million; 2018–2026)
- Managed Services
- Professional Service
Network Deployment Outlook (Revenue, USD Million; 2018–2026)
- Public Sector
- Private Sector
End user application Outlook (Revenue, USD Million; 2018–2026)
- 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
On the basis of Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
Research Snapshot:
- Historic Period: 2014 – 2018
- Base Year: 2020
- Forecast Period: 2021-2028
The study objectives of global market research report:
- To analyze the global Low Power Wide Area Network market on the basis of several business verticals such as drivers, restraints, and opportunities
- It offers detailed elaboration on the global competitive landscape
- To get an informative data of various leading key industries functioning across the global regions
- It offers qualitative and quantitative analysis of the global Low Power Wide Area Network market
- It offers all-inclusive information of global market along with its features, applications, challenges, threats, and opportunities
The major key questions addressed through this innovative research report:
What are the major challenges in front of the global Low Power Wide Area Network market? Who are the key vendors of the global Low Power Wide Area Network market? What are the leading key industries of the global Low Power Wide Area Network market? Which factors are responsible for driving the global Low Power Wide Area Network market? What are the key outcomes of SWOT and Porter's five analysis? What are the major key strategies for enhancing global opportunities? What are the different effective sales patterns? What will be the global market size in the forecast period? To know more about the report @
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