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Low Power Wide Area Network (LPWAN) Market Size

Report ID: GMI674
Published Date: Nov 2022
Report Format: PDF

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LPWAN Market Size

LPWAN Market size surpassed USD 5 billion in 2022 and is anticipated to grow at around 50% CAGR from 2023 to 2032. The adoption of IoT and other embedded devices continues to surge, driving telecom operators to commercialize low power wide area (LPWA) networks.

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The lack of uniformity in standards may thus limit their applicability in industrial sectors, where carrier-grade reliability is a prerequisite. Furthermore, service quality issues associated with unlicensed solutions may hinder industry expansion. Despite these challenges, the growing investment in R&D and commercialization of LTE-M and NB-IoT infrastructures will create lucrative growth opportunities for LPWAN providers.

Low Power Wide Area Network Market Report Attributes
Report Attribute	Details
Base Year:	2022
Low Power Wide Area Network Market Size in 2022:	USD 5 billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	50%
2032 Value Projection:	USD 350 billion
Historical Data for:	2018 to 2022
No. of Pages:	310
Tables, Charts & Figures:	513
Segments covered:	Component, Deployment Model, Application, End-use and Region
Growth Drivers:	Support for both licensed and unlicensed spectrum Increasing investment by telecom operators in LTE-M and NB-IoT Initiatives for developing LPWAN standards Growing demand for low-cost, long-range M2M communications High popularity of smart city applications
Pitfalls & Challenges:	Early-stage standards Network interference and co-existence issues

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Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of low power wide area network valued at USD 5 billion in 2022 and is set to depict more than 50% CAGR between 2023 and 2032, due to the growing dependence on IoT-connected devices.

The agriculture end-use segment is likely to exhibit over 55% growth rate through 2032, owing to the increasing adoption of AI and IoT technologies for efficient farming operations.

The Europe LPWAN industry valuation is anticipated to cross USD 80 billion by 2032, considering the rapid digital transformation and the popularity of smart manufacturing.

Key players in the low power wide area network (LPWAN) market include Ingenu Inc., Actility, Cisco Systems, Inc., AT&T Inc., Huawei Technologies Co., Ltd., Avnet, Inc., Vodafone Group Plc, WavIoT, and Verizon Communications Inc., among others.