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LPWAN Market Segmentation, Market Players, Trends 2023
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Low power wide area network (LPWAN) is wireless wide range, low bit rate telecommunication network optimized for communications between connected objects. It differs from a wireless WAN owing to its low power, low bit rate network optimized for devices rather than to connect users or businesses applications which need more data and power. The LPWAN data rate ranges from a minimum of 0.3 kbit/s to a maximum of 50 kbit/s per channel. The global low power wide area network market is anticipated to generate a CAGR of 8.9% during the forecast period of 2017 to 2023.
The growing connectivity between the devices or Internet of Things (IOT), growing automation, explosive adoption of smart wearable devices are the critical drivers of the market. The technological drivers of the market are the advancements in sensor technology, miniaturization of devices, growing computational power of devices, machine learning and artificial intelligence technologies.
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The economic drivers of the market are falling cost of smart devices, elimination of investing in gateway technology for deployment thereby saving on cost, development of telemedicine and connected healthcare delivery, lower cost due to low power consumption, lower data consumption, and ability to integrate in wide applications ranging from lights, home appliances, cars, manufacturing equipment and others. The ubiquity of devices and networks are further impetus to the market
Lack of uniform standardization and issues of integration between products offered by competing vendors resulting in high switching costs are the prime restraints on the market.
Some of the major players in the global LPWAN Market are Qualcomm Inc. (U.S.), Weightless SIG (U.K),SIGFOX (France), Ingenu (U.S.), Huawei Technologies Co. Ltd. (China), Semtech Corporation (U.S.), NWave Technologies (London), LORIOT (Switzerland),WAVIoT (U.S.), Cisco Systems (U.S.), Actility (France), Senet, Inc. (U.S.), AT&T Inc. (Germany), Link Labs Inc. (U.S.), Telefonica SA (Spain) and Vodafone Group Plc. (U.K) and others.
The global low power wide area network market is segmented by connectivity technology, service, network deployment, application and vertical so as to generate a comprehensive understanding of the complexities and dynamics of the market.
Connectivity technology - SIGFOX, LoRaWAN, Weightless and others.
Service - professional services and managed services.
Network deployment - public sector and private sector.
Application - smart buildings, smart streetlights, smart waste management, smart gas and water metering, smart parking, livestock monitoring and others.
Vertical - healthcare, agriculture, industrial manufacturing, smart logistics and transportation, oil and gas, consumer electronics and others.
Regions - Asia Pacific, North America, Europe, and Rest of the World
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The global low power wide area network market is dominated by Europe led by Germany, France, U.K. and others. The Scandinavian nations such as Norway, Sweden, and Finland are expected to generate faster growth as compared to other parts of Europe. North America led by the U.S. accounted for the second largest market owing to large research base, faster adoption of new technology and other drivers.
Asia Pacific is projected to generate the fastest growth during the forecast period attributed to technological advancements and increased adoption of connected devices especially in developing regions of China and India. The Middle East and Africa market is expected to be skewed in favor of the Gulf economies of Saudi Arabia, UAE and others. The lower adoption smart devices in Africa is the strongest constraint on its market as the countries with the least smartphone ownership rates in the world are Tanzania (11%), Uganda (4%) and Ethiopia (4%).
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