Low Power Wide Area Network Market By Technology (LoRaWAN, NB-IoT, SIGFOX, Others), By Application (Smart Building, Smart Gas and Water Monitoring, Smart Waste Management, Smart Agriculture, Smart Parking, Others), By End User (Oil and Gas, Industrial Man

Low Power Wide Area Network Market By Technology (LoRaWAN, NB-IoT, SIGFOX, Others), By Application (Smart Building, Smart Gas and Water Monitoring, Smart Waste Management, Smart Agriculture, Smart Parking, Others), By End User (Oil and Gas, Industrial Manufacturing, Agriculture, Consumer Electronics, Transportation and Logistics, Healthcare, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
Low-power wide-area network (LPWAN) refers to a specific type of network that enables low bit-rate, long-distance communication. It is a wireless technology that connects low-power devices over considerable distances at slow data speeds. Devices that need a lot of battery life and can send data over large distances are expected to benefit from low-cost, low-power, and wide-area connection provided by LPWANs. In addition, decline in LPWAN technology costs is anticipated to drive the market for low power wide area network growth. Due to the rise in demand for low-power wide area connectivity for Internet of Things devices, the LPWAN market is anticipated to expand rapidly in upcoming years.. Agriculture, healthcare, logistics, and transportation are a few industries that implement the LPWAN technology. The development of smart cities and smart buildings is expected to present more opportunities for the low power wide area network market to expand in the upcoming years. The lack of global LPWAN standards, however, is anticipated to impede the expansion of the market for low power wide area networks in the near future.

Moreover, factors such as increase in demand for smart city initiatives and real-time monitoring and control of assets primarily drive the growth of the low power WAN market. However, security concerns with limited band width hamper the market growth. Additionally, increase in demand for smart agriculture is expected to provide lucrative opportunities for the market growth during the forecast period.

On the basis of technology, LoRaWAN segment dominated the low power wide area network market size in 2022, and is expected to maintain its dominance in the upcoming years owing to growing need for low-cost, low-power connectivity solutions, which LoRaWAN technology offers, as IoT devices and applications are used more widely propels the market growth significantly. However, NB-IoT segment is expected segment is expected to witness highest growth, owing the advancement of NB-IoT technology has given cellular network operators access to brand-new commercial prospects.

North America is anticipated to account for the largest share of the low power wide area network market growth during the forecast period, owing to presence of a substantial industrial base in the U.S., government initiatives to promote innovation, and large purchasing power. The growth is primarily concentrated in the U.S. Companies owing to rise in demand for mobile and wearable devices and growing need for IoT devices in North America is one of the main potentials for LPWAN. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period, owing to factors such as urbanization, industrialization, rise in need for automation and digitalization. IoT applications in industries including smart cities, agriculture, logistics, and healthcare are perfect for LPWAN technology.

The low power wide area network market is segmented on the basis of technology, application, end user, and region. On the basis of technology, it is segregated into LoRaWAN, NB-IoT, Sigfox, and others. On the basis of application, it is divided into smart building, smart agriculture, smart waste management, smart gas and water monitoring, smart parking, and others. On the basis of end user, it is divided into oil and gas, industrial manufacturing, agriculture, consumer electronics, transportation and logistics, healthcare, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The global low power wide area network industry is dominated by key players such as Semtech Corporation, Loriot Ag, Nwave, Sigfox, Waviot, Actility, Ingenu Inc., Link Labs, Senet, ATandT Intellectual Property. These players have adopted various strategies to increase their market penetration and strengthen their position in low power wide area network industry.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the low power wide area network market analysis from 2022 to 2032 to identify the prevailing low power wide area network market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the low power wide area network market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global low power wide area network market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Technology

LoRaWAN
NB-IoT
SIGFOX
Others

By Application

Smart Building
Smart Gas and Water Monitoring
Smart Waste Management
Smart Agriculture
Smart Parking
Others

By End User

Healthcare
Others
Oil and Gas
Industrial Manufacturing
Agriculture
Consumer Electronics
Transportation and Logistics

By Region

North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Actility
AT&T Intellectual Property
Ingenu Inc.
Link Labs
Loriot AG
Nwave
Semtech Corporation
Senet
Sigfox
WAVIoT

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