What Has Been the Progress and Growth of the Low-Power Wide-Area Network (LPWAN) Market in Recent Years?
The low-power wide-area network (lpwan) market has seen considerable growth due to a variety of factors.
• The low-power wide-area network (LPWAN) market has grown exponentially in recent years. It is expected to increase from $17.09 billion in 2024 to $27.74 billion in 2025, reflecting a CAGR of 62.3%.
The growth can be attributed to the demand for IoT connectivity, cost-effective and long-range networks, industrial automation, smart agriculture applications, longer battery life, use in smart cities, and new business models.
How Does the Forecast Look for the Low-Power Wide-Area Network (LPWAN) Market?
The low-power wide-area network (lpwan) market is expected to maintain its strong growth trajectory in upcoming years.
• The low-power wide-area network (LPWAN) market is expected to see explosive growth, reaching $190.96 billion by 2029 at a CAGR of 62.0%.
This growth is fueled by the rise of smart agriculture, industrial applications, long-range connectivity needs, new LPWAN business models, and smart city infrastructure. Key trends include increased IoT adoption, technological advancements in LPWAN, demand for low-power, long-range connectivity solutions, integration with 5G networks, and advancements in battery technology.
What Are The Leading Drivers Of Growth In The Low-Power Wide-Area Network (LPWAN) Market?
The growing adoption of smart meters is projected to drive the growth of the low-power wide-area network (LPWAN) market. Smart meters monitor energy consumption and are becoming more popular due to their accurate data collection, simplified billing, and enhanced energy management. LPWAN technologies support smart meters by offering reliable, long-range, low-power communication solutions. For instance, the UK Statistics Authority reported in March 2024 that energy suppliers in Great Britain installed 201,800 smart meters in smaller non-domestic sites in 2023, a 39% increase compared to 2022. The growth in smart meters is expected to drive the LPWAN market.
How Are The Segments Defined Within The Global Low-Power Wide-Area Network (LPWAN) Market?
The low-power wide-area network (LPWAN) market covered in this report is segmented –
1) By Component: Platform, Service
2) By Technology Type: SIGFOX, Long Range Wide Area Network (LoRaWAN), Weightless, Other Technologies
3) By Deployment Model: On-Premise, Cloud
4) By Application: Smart Gas And Water Metering, Asset Tracking, Smart Buildings, Smart Parking, Precision Agriculture, Smart Waste Management, Livestock Monitoring, Other Applications
5) By End-User: Healthcare, Agriculture, Logistics And Transportation, Manufacturing, Government, Other End-Users
Subsegments:
1) By Platform: Network Management, Device Management, Application Enablement
2) By Service: Professional Services, Consulting, Deployment And Integration, Support And Maintenance, Managed Services
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Which Emerging Market Trends Are Altering The Low-Power Wide-Area Network (LPWAN) Industry?
Leading businesses in the low-power wide-area network (LPWAN) market are focusing on creating unique solutions like SaaS chip-to-cloud technology to boost the efficiency, scalability, and integration capabilities of IoT applications. Essentially, SaaS (Software as a Service) chip-to-cloud service is a complete platform that links physical hardware, or the chip, to cloud services via a managed platform. It empowers thorough data gathering, processing, storage and analysis from IoT devices. A specific example could be seen in June 2022 when Semtech Corporation, an American semiconductor manufacturing firm, introduced LoRa Cloud Locator, founded on the SaaS chip-to-cloud service. LoRa Cloud Locator is a cloud-based service that features LoRa Edge, an ultra-low-power geolocation platform from chip-to-cloud. The platform allows for the swift development of indoor and outdoor tracking systems with the help of LoRa Edge ICs by shifting location computations to the cloud. This transfer results in reduced power use and costs compared to conventional on-chip GNSS methods. Moreover, the service allows users to monitor assets indoors and outdoors by using LoRa Edge-enabled trackers, which may be merged with GNSS and Wi-Fi for accurate location tracing.
Who Are the Key Players In The Low-Power Wide-Area Network (LPWAN) Market?
Major companies operating in the low-power wide-area network (LPWAN) market are:
• Verizon Communications Inc.
• Comcast Corporation
• AT&T Inc.
• Huawei Technologies Co. Ltd.
• Vodafone Group Plc
• Cisco Systems Inc.
• Bouygues S.A
• Qualcomm Technologies Inc.
• Avnet Inc.
• NXP Semiconductors N.V.
• Swisscom AG
• Orange Business
• Tata Communications
• Semtech Corporation
• Sigfox
• Kerlink
• Eseye
• Ingenu Inc.
• Actility S.A.
• Senet Inc
• WavIoT
• Link Labs
• LORIOT AG
• Nwave
• Everynet
What Is The Most Dominant Region In The Low-Power Wide-Area Network (LPWAN) Market?
North America was the largest region in the low-power wide area network (LPWAN) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the low-power wide-area network (LPWAN) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
