Global Low Power Wide Area Network Market to Reach $151.5 Billion by 2026
A low-power wide-area network (LPWAN) is a form of wireless technology that allows end users to establish long-range communication networks at a low-bit rate. Growing integration of IoT and M2M devices is propelling companies to integrate LPWAN devices for minimizing operation costs as well as power consumption. Propelled by its capability to enhance connectivity, the advanced technology is currently being used for controlling various IoT systems. Ongoing technological advancements in the LPWAN segment are offering ample growth opportunities for mobile network operators. Propelled by promising outlook, various leading global cellular service providers such as AT&T and Verizon are now adopting LTE-Cat M1 as well as NB-IoT LPWAN technologies. Introduction of LPWAN systems is enabling radio network service providing companies to offer safe and reliable solutions for end users. Integration of LPWA and cellular technology is assisting engineers to collect data from underground and basement areas.
Amid the COVID-19 crisis, the global market for Low Power Wide Area Network estimated at US$9.9 Billion in the year 2020, is projected to reach a revised size of US$151.5 Billion by 2026, growing at a CAGR of 53% over the analysis period. Platform, one of the segments analyzed in the report, is projected to grow at a 50.6% CAGR to reach US$118.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 57.6% CAGR for the next 7-year period. This segment currently accounts for a 31.8% share of the global Low Power Wide Area Network market. Majority of the companies nowadays use cloud-based platforms for integrating and managing LPWAN servers as well as gateways. As a result, cloud deployment mechanism accounts for largest share within the platform component segment.
The U.S. Market is Estimated at $4.5 Billion in 2021, While China is Forecast to Reach $25.8 Billion by 2026 Select Competitors (Total 60 Featured)
The Low Power Wide Area Network market in the U.S. is estimated at US$4.5 Billion in the year 2021. The country currently accounts for a 27.35% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$25.8 Billion in the year 2026 trailing a CAGR of 65.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 45.3% and 53.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 46.5% CAGR while Rest of European market (as defined in the study) will reach US$34.6 Billion by the end of the analysis period. Driven by growing adoption of high speed and energy-efficient IoT-enabled devices, North America dominates the global market. Significant increase in number of smart city projects such as Google`s Waterfront Toronto and Sidewalk Lab is fueling demand for the advanced technology in the region. While rising integration of IoT solutions in manufacturing, logistics, and agriculture industries drives growth in Asia-Pacific, the European market is set to be propelled by increasing popularity of IoT-enabled energy-efficient smart devices.
- Actility, SA
- AT&T Intellectual Property
- Cisco Systems, Inc.
- Huawei Technologies Co., Ltd.
- Ingenu Inc.
- Link Labs Inc.
- Loriot AG
- Nwave Technologies Inc.
- Qualcomm Technologies, Inc.
- Semtech Corporation
- Senet, Inc.
- SIGFOX Telefonica, S.A
- Vodafone Group Plc