LPWAN Market size worth over $350 Bn by 2032

Low Power Wide Area Network (LPWAN) Market size is set to reach USD 350 billion by 2032,  according to a new research report by Global Market Insights Inc.
 

The acceleration of smart city programs as a prominent driver for low power wide area network (LPWAN) technology deployment, especially in developing nations. For example, broad federal initiatives to expand smart city innovation have been revived since the passage of the U.S. Infrastructure Investment and Jobs Act. Such developments will increase the adoption of connected devices to facilitate data exchange and in consequence, bolster the use of low-power WAN connections for smart city IoT applications.
 

Unlicensed LPWAN networks are exposed to co-existing weaknesses and interference vulnerabilities while operating in congested ISM bands. Additionally, there are risks of data collision and eventual loss since the chances of another network sending data packets are high. The growing awareness of network interference and co-existing issues may create a hindrance to industry expansion. Despite these challenging environments, the presence of both licensed and unlicensed frequency spectrums will augment LPWAN connectivity.
 

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Secure provisioning and activation challenges to boost managed LPWAN service demand

The service component segment will account for more than 35% share of the LPWAN market by 2032. Managed services are gaining traction due to their capability to handle day-to-day operations and secure IT networks. LoRaWAN service providers face challenges related to secure provisioning and device activation. To address these challenges, organizations make use of managed services to take up new market opportunities and cater to issues associated with technology integration, security, and skills shortage. These factors will proliferate the uptake of LPWAN services to facilitate organizational success.
 

Browse key industry insights spread across 310 pages with 477 market data tables and 36 figures & charts from the report, “Low Power Wide Area Network (LPWAN) Market Size By Component (Platform [Narrowband IoT {NB-IoT}, Long Term Evolution for Machines {LTE-M}, LoRaWAN, Sigfox, Weightless], Services [Professional Service, Managed Service]), By Deployment Model (On-premise, Cloud), By Application (Smart Gas And Water Metering, Asset tracking, Smart Buildings, Smart Parking, Precision Agriculture, Smart Waste Management, Livestock Monitoring), By End-use (Healthcare, Agriculture, Logistics And Transportation, Manufacturing, Utilities, Consumer Electronics, Government And Public Sector), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/low-power-wide-area-network-lpwan-market
 

Data security & control attributes to promote on-premise LPWAN network deployment

The on-premise deployment model segment held approximately 50% of the LPWAN market share in 2022, owing to its ability to help organizations build and manage their LPWAN for IoT applications. On-premise LPWAN networks can also manage the LORA gateways and other whole network elements, allowing organizations to gain complete control of the transmitted data through data security. These benefits will contribute to the consumption of low-power WAN connectivity.
 

Rising waste disposal concerns impact the development of low power wide area network connections

The smart waste management application segment is slated to depict around 55% gains up to 2032, considering the increasing development of smart cities. Municipal authorities are increasingly facing challenges associated with the accumulation of waste. In complex city environments, LPWAN technology ensures the connection of sensor-equipped waste collectors. The report reveals the high concern about proper waste disposal as a key reason behind accelerating LPWAN connectivity demand.
 

Advancements in machine-to-machine technology fuel LPWAN usage in consumer electronics

In terms of end use, LPWAN market from the consumer electronics segment is anticipated to exhibit over 55% CAGR between 2023 and 2032. The mounting deployment of machine-to-machine technology to deliver compelling electronic services is one of the key growth drivers. The consumption of smart electronic devices including fitness trackers, home automation solutions, and security alarms has increased substantially. This, in turn, will complement the use of IoT-enabled products and subsequently fuel LPWAN installations.
 

Emphasis on secure mining operations to foster LPWAN connections in LATAM

The Latin America LPWAN industry is projected to surpass USD 30 billion by 2032. This is a result of the implementation of LPWAN systems to provide real-time monitoring of parameters inside underground mines. The surging demand for safe and automated mines, alongside the expansion of precision agriculture and smart city projects, is likely to influence service demand in the region.
 

Innovative network management system launches to define competitive landscape

Orange Business Services, Sierra Wireless, Avnet, Inc., CONNIT, Huawei Technologies Co., Ltd., Link Labs, LORIOT.IO, Nwave, Sigfox, AT&T Inc., Ingenu Inc., and WavIoT are some of the key players profiled in the LPWAN market. These companies are focusing on innovative system launches and other initiatives to boost their foothold in the industry.