Global Low-Power Wide-Area Network (LPWAN) Market is segmented By Service (Professional Service, Managed Service) By Connectivity Technologies (SIGFOX, NB-IOT, LTE-M, LoRaWAN, Weightless, Others) By Deployment Model (On-Premise, Cloud) By Application (Smart Waste Management, Smart Buildings, Smart Gas and Water Metering, Smart Streetlights, Smart Parking, Livestock Monitoring, Others) By End-User (Healthcare, Agriculture, Logistics and Transportation, Manufacturing, Utilities, Consumer Electronics, Government and Public Sector, Others) and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
Global low-power wide-area network (LPWAN) Market reached US$ 12.4 billion in 2023 and is expected to reach US$ 384.5 billion by 2031, growing with a CAGR of 53.7% during the forecast period 2024-2031.
The low-power wide-area network market is experiencing greater expansion with the outburst of the IoT and the increasing need for long-range connectivity in diverse applications. LPWAN technologies offer a compelling solution, addressing this demand with their unique advantages of low power consumption and long-range communication. The low power, long-range along cost-effective features empower diverse applications of LPWAN.
The recent advancements like integration with IoT platforms for real-time data analysis, satellite-based solutions expanding reach to even more remote areas and standardization efforts improving interoperability between devices and networks make the adoption and implementation of LPWAN solutions easier than ever before. For instance, in February 2024, BT Group launched an NB-IoT network for smart cities and connected farms, targeting use cases for low-power devices with low data demand.
North America dominated the market with the advantage of its early embrace of the technology. The technological advancement along with government support with favorable regulations and funding resulted in widespread adoption of the market. It has applications in different sectors such as precision agriculture. For instance, USDA and the National Science Foundation have provided almost $200 million for precision agriculture research and development funding in fiscal years 2017—2021.
Market Scope
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Metrics |
Details |
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CAGR |
53.7% |
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Size Available for Years |
2022-2031 |
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Forecast Period |
2024-2031 |
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Data Availability |
Value (US$) |
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Segments Covered |
Service, Connectivity Technologies, Deployment Model, Application, End-User and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
North America |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Increasing Adoption of IoT and M2M Devices
The rise of the Internet of Things and machine-to-machine communication is creating a significant demand for low-power, wide-area connectivity solutions. LPWAN technologies offer the perfect blend of low power consumption and long-range communication. It enables battery-operated devices to function for extended periods without frequent recharging.
LPWAN allows connection to devices even in remote locations with poor cellular coverage. It provides a cheaper alternative to traditional cellular networks for low-bandwidth data transmission. Smart metering, asset tracking, smart agriculture and smart building are some of the features that make LPWAN ideal for various IoT applications. The growing adoption of these applications is driving the demand for LPWAN solutions, fueling market growth.
The introduction of new and innovative product applications helps in an easy and effective expansion of the market. For instance, in June 2023, Velos IoT launched Connect LPWA, offering one of the biggest networks for devices that use less power and work over long distances. Velos IoT’s Connect LPWA solution offers connectivity on the two most popular LPWA technologies - NB-IoT and CAT-M1.
Long-Range Communication of LPWAN
LPWAN is a special network that connects devices over vast distances, even in places where regular phone signals are weak. This makes it perfect for things like remote monitoring, following deliveries such as logistics and transportation, and connecting devices in smart cities. Sensors in remote locations like forests, farms, and oil fields can finally be efficiently connected and monitored despite weak cellular signals, enabling environmental monitoring and data collection.
LPWAN facilitates effective tracking of assets like trucks, containers, and shipments across long distances, even in rural areas with limited cellular coverage, streamlining logistics and transportation operations. Efficient city management connects devices like streetlights, traffic sensors and parking meters. LPWAN provides a cost-effective and reliable solution for these applications, fostering the development of smart cities.
By addressing the diverse long-range connectivity challenges, LPWAN plays a crucial role in various sectors, further contributing to its market growth and solidifying its potential. This unique combination of low power consumption, long-range communication, and cost-effectiveness positions LPWAN for continued growth, playing a critical role in connecting the world and unlocking new possibilities across diverse sectors as advancements continue and new applications emerge.
Security Concerns of the LPWAN Usage
The global low-power wide-area network market can be restrained by some of the factors due to its limited standardization and rising security concerns of the market. The vast attack surface, data sensitivity and potential for disruption are some of the critical security concerns associated with the market. LPWAN networks connect a massive number of devices, each representing a potential entry point for cyberattacks. This large attack surface increases the risk of breaches.
LPWAN often transmits sensitive data such as location data in logistics, environmental readings, utility usage and others. Wrong people may exploit or misuse the data. Attacks on LPWAN networks can disrupt critical operations, leading to financial losses, logistical chaos or even damage to infrastructure in smart city applications, creating high-security concerns for market use.
Segmentation Analysis
The global low-power wide-area network (LPWAN) market is segmented based on service, connectivity technologies, deployment model, application, end-user and region.
High Role of LPWAN in Increasing Agricultural Productivity
The low-power wide-area network market is segmented based on end-users into various categories such as healthcare, agriculture, logistics & transportation, consumer electronics and others. LPWAN technology is revolutionizing agriculture by enabling widespread sensor networks leading to sustainable and efficient farming. LPWAN offers a more cost-efficient solution for transmitting small amounts of data to farmers.
LPWAN's has a low-power design and minimizes maintenance and battery replacements. The real-time monitoring of LPWAN empowers farmers to make data-driven decisions on irrigation, fertilization and pest control. It optimizes resource use and improves crop yield. LPWAN sensors can be deployed to monitor perimeter fences, detect unauthorized access and ensure farm security.
Geographical Penetration
High Technology Support in North America
North America dominated the global low-power wide-area network market with several supporting factors. The mature ecosystem of connected devices IoT fuels demand for efficient and cost-effective solutions like LPWAN in the region. North American farms adopt LPWAN for widespread sensor monitoring, optimizing operations for precision agriculture and sustainability which is supported by vast funds.
The funding provided by USDA and NSF for precision agriculture research and development was 40,786,444 US$ in 2021 helping expand the market. LPWAN's ideal features, particularly its long-range capabilities and cost-effectiveness, perfectly address the diverse application needs of the region. These include smart metering in utilities, and asset tracking in logistics and transportation. The optimization of operations in the growing field of smart agriculture is also possible with these applications.
The introduction of new applications and product specifications positively drives regional market growth. In December 2023, Seeed Studio, an embedded and maker hardware specialist launched a Wio Tracker, a new asset-tracker development kit, designed specifically for use with Amazon's Sidewalk low-power wide-area network. The new asset-tracking dev board offers Amazon Sidewalk connectivity in U.S.
COVID-19 Impact Analysis
The global low-power wide-area network market experienced a moderate impact due to the COVID-19 pandemic. The initial lockdowns and manufacturing disruptions of the pandemic situation caused delays in acquiring LPWAN Component. This slowed down the deployments and projects of the market. Also, economic uncertainty led some businesses to postpone or delay LPWAN investments as a precaution.
Social distancing measures and travel restrictions made deploying LPWAN networks and sensors more difficult, especially in remote locations. On the other hand, the pandemic highlighted the necessity of remotely monitoring assets, infrastructure and processes. LPWAN, with its long-range capabilities, became even more essential for data collection and remote management.
Some governments increased investment in smart cities and infrastructure projects as part of economic recovery plans. This fueled the need for LPWAN solutions to enable applications like remote monitoring and city management during the pandemic. LPWAN helped facilitate contactless solutions in areas like logistics, healthcare and retail which gained significant traction during the pandemic.
Russia-Ukraine War Impact Analysis
The conflict between Russia and Ukraine damaged the existing supply chain activities, potentially interrupting production due to component and raw material shortages caused by sanctions and broader disruptions. Additionally, heightened cybersecurity concerns in the wake of the war could lead to stricter regulations and increased inquiry for LPWAN deployments, impacting project timelines.
On the other side, the need for robust infrastructure monitoring, particularly in conflict zones with compromised traditional connectivity, created demand for LPWAN solutions for critical infrastructure like energy and water grids. Additionally, LPWAN's secure, low-power, and long-range capabilities could find niche applications in military and defense communication for remote monitoring and asset tracking, expanding market need.
Key Developments
- In February 2024, BT Group launched an NB-IoT network for smart cities and connected farms. Narrowband IoT network runs on EE 4G network, targeting use cases for low-power devices with low data demand.
- In January 2023, Skyworks and Semtech collaborated to create a new design SKY66423-SX1261 for devices that use low power and work over long distances (LPWAN) in factories and cities. This design helps devices work better by reducing noise and improving signal strength.
- In May 2021, Toppan Printing mass-produced a new communication module for ZETA, a next-generation LPWA network good for low-data sensors in challenging locations like factories and buildings. ZETA uses battery-powered nodes to expand its reach and enable stable communication.
Competitive Landscape
The major global players in the market include Semtech Corporation, Sigfox, Huawei Technologies Co. Ltd, Ingenu Inc., Cisco Systems Inc., Actility, Vodafone Limited, WAVIoT, LoRa Alliance and Loriot AG.
Why Purchase the Report?
- To visualize the global low-power wide-area network (LPWAN) market segmentation based on the service, connectivity technologies, deployment model, application, end-user and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of low-power wide-area network (LPWAN) market level with all segments.
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- Product mapping available as excel consisting of key products of all the major players.
The global low-power wide-area network (LPWAN) market report would provide approximately 78 tables, 80 figures and 236 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
