Update News: Low Power Wide Area Network Market To Reach USD 327.6 Billion By 2027 | CAGR 74.6% — Forencis Research
Global Low Power Wide Area Network Market: Key Highlights
- According to the new market research report “Low Power Wide Area Network Market by Technology (SigFox, Weightless, LoRaWAN, ZigBee, Ingenu, and Others), by Deployment (Public Network and Private Network), by Application Type (Smart Metering, Smart Cities, Asset Monitoring, Smart Lighting, Smart Buildings, Energy Management, and Others), by End-User (Healthcare, Logistics and Transportation, Agriculture, Manufacturing, Oil and Gas, and Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global Low Power Wide Area Network Market is estimated to reach USD 324.6 Billion by 2027 at a CAGR of around 74.6% during the review period.
- The expanding usage in service of telecommunication sector of services such as wired broadband internet television broadcasters as well as telecommunications services which will lead to increase in demand for the LPWAN in the market.
- However, security concern of data issues remain a major challenging factor for the growth of the low power wide area network market
Global Low Power Wide Area Network Market: Key Market Dynamics
- The increasing demand for IoT technology to enhance the less power consumptions results in rise of the market growth which is projected to boost the growth of the market in the forecast period.
- Due to rising security concern increase the data traffic acts as barrier in the growth of LPWAN market in the forecast period.
- The 5G technology which is expected to be commercialized at the higher level is likely to support a wide array of features and the existing usages of LPWAN, thus can boost the growth of the market.
- The 4G technology in terms of low cost, network capacity, network efficiency, and end-to-end delay, is projected to enhance the usage of LWPAN. Hence, it is predicted to create a positive impact on the market’s growth.
Global Low Power Wide Area Network Market: Regional Overview
Asia-Pacific is one of the largest adopter of LPWAN technologies which is significant for the growth of the market in the forecast period. China is implementing the Broadband China strategy and also facilitating faster and the affordable Internet connection services for the users. According to the Corporate Affairs Commission, in 2017, the bandwidth of China network has been exceeded 100 Tbps. As well as the Internet export had reached by 7974,779 Gbps.
Hence, the growing adoption and demand of the technologies in the market are projected to increase the growth of the market in the Asia-Pacific region.
European Union Agency for Network and Information Security (ENISA) is enhancing the existing skill professional in European Union (EU) by supporting the development of cross border communities committed to support the network and information security throughout the European Union (EU). Moreover, in 2015 the European Commission launched the Alliance for Internet of Things Innovation (AIOTI) which became the largest European IoT Association to date, and is emphasizing the European Commission’s ambition for working closely with IoT stakeholder on the establishment of a competitive IoT market and for the new businesses.
Therefore, with the leading and growing demand for the networks and technologies in the region lead demand for the market is expected in the region.
Global Microwave Devices Market: Key Players Overview
- Loriot AG:
Loriot AG is a global IoT company which provides a long range of IoT solution deployment worldwide. The company provides the LoRaWAN infrastructure and solution for software platform which enable the users to build, operate and scale a secure IoT network. Moreover, the LoRaWAN solution of the firm is one of the most powerful, secure and complete solution in the market. Furthermore, in 2019 the company deployed three regional public servers to spread a large LoRaWAN public infrastructure globally. Also, the new servers may support three main regions such as Asia-Pacific, Europe and North America and is dedicated exclusively to users a 99.9% Service level agreement (SLA).
- Semtech Corporation:
Semtech Corporation is one of the major supplier of high performance analog and mixed signal semiconductors. The company helps to drive algorithms for the high end consumer, industrial equipment and mixed signal semiconductors. The company LoRa transceivers advance a long range of wireless modem which provide ultra-long range spread spectrum communication. The LoRa technology deliver important features in blocking as well as in selectivity over the conventional modulation techniques. Moreover, the LoRa RF platform complements M2M cellular infrastructure by providing a low cost solution to connecting battery operated devices to the network infrastructure.
In 2020, the company announced that NetOP, manufacturer and developer of low power wide area network which is based on Internet of Things (IoT) applications, developed a new smart energy consumption monitoring solution which will be based on Semtech LoRa devices and the LoRaWAN protocol. Also, in 2017 the company won an award for LoRa devices and Wireless RF Technology that is used by eleven-x which is a software developer for wireless telecommunication.
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