Low-Power Wide-Area Network (LPWAN) Market Segments, Drivers, Restraints, And Trends For 2024-2033

The Business Research Company's Low-Power Wide-Area Network (LPWAN) Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 19, 2024 /EINPresswire.com/ -- The low-power wide-area network (LPWAN) market has experienced robust growth in recent years, expanding from $10.56 billion in 2023 to $17.09 billion in 2024 at a compound annual growth rate (CAGR) of 61.8%. The growth in the historic period can be attributed to increased demand for IoT connectivity, increased in cost-effective and long-range network, increased in industrial automation, increased use in smart agriculture applications, increased battery life, increased use in smart city, and increased business models.

Strong Future Growth Anticipated
The low-power wide-area network (LPWAN) market is projected to continue its strong growth, reaching $117.88 billion in 2028 at a compound annual growth rate (CAGR) of 62.1%. The growth in the forecast period can be attributed to rising implementation of smart agriculture, expanding applications in industrial, growing demand for long-range connectivity, increasing innovative LPWAN business models, increasing demand for smart city infrastructure, and growing focus on environmental monitoring and sustainability applications.

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Growth Driver Of The Low-Power Wide-Area Network (LPWAN) Market
The increasing adoption of smart meters is expected to propel the growth of the low-power wide-area network (LPWAN) market going forward. A smart meter is a device that tracks and records electricity or gas consumption in households and commercial establishments. Smart meter adoption is rising due to their precise energy monitoring, simplified billing, and enhanced energy management capabilities for both consumers and utilities. LPWAN technologies significantly improve the functionality and efficiency of smart meters by providing reliable, long-range, low-power, and cost-effective communication solutions. These features enable better data management, operational efficiency, and scalability in smart metering systems, which are crucial for modern energy management and utility services.

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Major Players And Market Trends
Key players in the low-power wide-area network (LPWAN) market include Verizon Communications Inc., Comcast Corporation, AT&T Inc., Huawei Technologies Co. Ltd., Vodafone Group Plc, Cisco Systems Inc.
Major companies operating in the low-power wide-area network (LPWAN) market are focused on developing innovative solutions such as SaaS chip-to-cloud service to enhance network efficiency, scalability, and integration capabilities of IoT applications. SaaS (Software as a Service) chip-to-cloud service refers to a comprehensive solution that connects hardware (the chip) to cloud-based services through a managed platform. This integration enables seamless data collection, processing, storage, and analysis from IoT devices.

Segments:
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

Geographical Insights: North America Leading The Market
North America was the largest region in the low-power wide area network (LPWAN) market in 2023. 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.

Low-Power Wide-Area Network (LPWAN) Market Definition
Low-power wide-area network (LPWAN) is a wireless communication technology that facilitates long-range connectivity while consuming minimal power, allowing devices to exchange data efficiently over significant distances. These technologies can transmit data over several kilometers, making them suitable for applications spread across wide geographical areas, such as agricultural monitoring or smart city infrastructure.

Low-Power Wide-Area Network (LPWAN) Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Low-Power Wide-Area Network (LPWAN) Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on low-power wide-area network (LPWAN) market size, low-power wide-area network (LPWAN) market drivers and trends, low-power wide-area network (LPWAN) market major players, low-power wide-area network (LPWAN) competitors' revenues, low-power wide-area network (LPWAN) market positioning, and low-power wide-area network (LPWAN) market growth across geographies. The low-power wide-area network (LPWAN) market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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