The major contributing
factor for the growth of the market for low power wide area network can
be the growth of IoT/M2M. The majority of the enterprises today use
IoT/M2M services to automate and manage communications between multiple
devices.
Market Size – USD 1.3
billion in 2018, Market Growth - CAGR of 52.9%, Market Trends – rise of
advanced technologies, such as smart cities and smart buildings.
New York, February 7,
2019 - The Low
power wide area network market is expected to grow from USD 1.3 Billion in 2018 to USD 25.4
Billion by 2026, at a CAGR of 52.9% during the forecast period. Increasing
usage long range connectivity between devices, increasing adoption of advanced
technologies like, IoT and M2M, lesser power consumption, lesser technology
cost, increasing demand for connectivity in various industries, rise of
advanced technologies, such as smart cities and smart buildings, and emergence
of smart and intelligent devices are some of the driving factors of the market.
The issues faced by
enterprises data security concerns, no governance of low power wide area
network (LPWAN) services, increasing data traffic due to increasing internet
usage and no LPWAN standards. These may be the major restraining factor for the
low power wide area network market.
Players will require
increased investments to tackle these restraints and facilitate growth in the
coming years. This report comprises drivers, restraints, opportunities, and
challenges pertaining to the Low power wide area network market; and
extensive value chain analysis, patent analysis, analysis of the current
manufacturing capability and technology status, commercialization potential in
different devices, along with market size forecasts till 2026.
The report “Low power wide area network market by
connectivity technology (SIGFOX, LoRaWAN, weightless and others), technology
service (managed services and professional Services), network deployment
(public sector and private sector), end user application (smart waste
management, smart buildings, smart gas and water metering, smart streetlights,
smart parking, livestock monitoring and others), Industry Vertical
(agriculture, smart logistic and transportation,, healthcare, industrial
manufacturing, oil and gas, consumer electronics and others), and Geography -
Global Forecast 2026” is available now to Reports and Data customers
and can also be purchased directly at: https://www.reportsanddata.com/sample-enquiry-form/1078
Further key findings from the report suggest
- The Low power wide area network
market is expected to grow from USD 1.3 billion in 2018 to USD 25.4
billion by 2026, at a CAGR of 52.9% during the forecast period.
- The major contributing factors
for the growth of the market for Low power wide area network can be
increasing usage long range connectivity between devices, increasing
adoption of advanced technologies like, IoT and M2M, lesser power
consumption, lesser technology cost, increasing demand for connectivity in
various industries, rise of advanced technologies, such as smart cities
and smart buildings, and emergence of smart and intelligent devices.
- The Low power wide area network
market is segmented by technology service into managed services and
professional services. Managed services mostly dominate the market with a
market share of approximately USD 0.8 Billion in the base year, since they
leverage partnerships with prime satellite and mobile networks to offer
high-end managed services to end user application providers, system integrators,
and end user clients.
- The Low power wide area network
market is segmented by network deployment into public sector and private
sector. Public sector is to witness highest growth, at a CAGR of 53.1% in
the forecast period, since it is used by government enterprises, for
instance, municipal corporation focuses on developing their services such
as, trash, parking, streetlights, water meters and leak detectors, and
more.
- The Low power wide area network
market is segmented by end user application into smart waste management,
smart buildings, smart gas and water metering, smart streetlights, smart
parking, livestock monitoring and others. Smart gas and water metering
dominates the market with a market share of approximately USD 0.14 Billion
in the base year, since LPWAN helps the segment in greater standardization
between different smart meter manufacturers and vendors.
- The Low power wide area network
market is segmented by industry vertical into agriculture, smart logistics
and transportation, healthcare, industrial manufacturing, oil and gas,
consumer electronics and others. Oil and gas segment is expected to
witness the highest growth at a CAGR of 53.4% in the forecast period,
since the technology will provide the segment with benefits such as plant
automation, process optimization, supply chain optimization, increased
safety, integrated business processes, and corporate social
responsibility.
- The Low power wide area network
market is segmented by geography into North, America, Europe, Asia Pacific
and Rest of the World. The APAC region is expected to grow at the highest
CAGR of 54.1% during the forecast period, since it is rapidly adopting M2M
communication end user applications, which adds to the growth of Low power
wide area network market in this region.
- Key players with in Low power
wide area network market are LORIOT (Switzerland), Semtech Corporation
(California), NWave Technologies (London), WAVIoT (Texas), SIGFOX
(France), Ingenu (San Diego), Link Labs (Maryland), Weightless SIG,
and Senet, Inc. (Portsmouth).
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service assurance Market report covered with tables and figures
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For the purpose of this report, the market has
been segmented on the basis of transaction mode, payment nature, payment
location, purchase type, Industry vertical industry vertical and regional
analysis.
- Technology Service Outlook
(Revenue, USD Million; 2018–2026)
- Managed Services
- Professional Services
- Network Deployment Outlook
(Revenue, USD Million; 2018–2026)
- Public Sector
- Private Sector
- End user application Outlook
(Revenue, USD Million; 2018–2026)
- Smart waste management
- Smart buildings
- Smart Gas and Water Metering
- Smart Streetlights
- Smart Parking
- Livestock Monitoring
- Others
- Industry vertical Outlook
(Revenue, USD; 2018-2026)
- Agriculture
- Smart Logistic and
Transportation
- Healthcare
- Industrial Manufacturing
- Oil and Gas
- Consumer Electronics
- Others
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