Low Power Wide Area Network (LPWAN) Market Analysis 2025

Low Power Wide Area Network (LPWAN) Market to 2025 - Global Analysis and Forecast by Connectivity Technology (LoRaWAN, Weightless, Sigfox, NB-IoT, and Wi-SUN); Services (Professional and Managed); Application (Smart Streetlight, Smart Metering, Smart Building, Smart Waste Management, Smart Parking, and Asset Management & Tracking); End-user (Smart City, Oil and Gas, Healthcare, Manufacturing, Logistics and Transportation, Agriculture, and Consumer Electronics)

Publication Month : Jul 2018

  • Report Code : TIPTE100000400
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 154
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The Low Power Wide Area Network (LPWAN) market was valued at US$ 986.0 Mn in 2017 and is projected to reach US$ 28746.5 Mn by 2025; it is expected to grow at a CAGR of 53.2% from 2018 to 2025.

The business throughout the various industries including agriculture, manufacturing, oil & gas among others has lately realized the need to transform their agile back-end infrastructure to efficiently manage and comply with the evolving IoT initiatives and solutions. At present, the majority of the IoT devices are using the already existing network connections such as Zigbee, cellular, Wi-Fi and other proprietary technologies.  As the conventional mobile network comprised of functional performances that could not meet the transforming IoT landscape concerning data output, cost efficiencies and coverage areas, the industry players promoted LPWAN. The explosive growth in penetration of IoT devices over the past few years has escalated the demand for LPWAN technology deployments. This is major because these modern technologies were cost-efficient, optimized data transmission, and scalable cellular coverage. Furthermore, Significantly falling prices of system costs, which includes both network levels as well as devices is a predominant trend that is generating growth opportunities for enterprises in IoT sector. The increased growth opportunity for the enterprises in IoT is anticipated to expand its adoption globally, which in turn would fuel the deployment of LPWAN. The growth in IoT market is mainly influenced by ongoing advancements in smartphone market whose large volumes and increasing competition are dramatically reducing prices throughout the value chain. This includes key component parts such as sensors, embedded processors, memory and cellular modems whose steady price declines will continue to drive cost reductions for developing new IoT endpoint applications and thus ease capital requirements for enterprise deployment. At the same time, the persisting price reductions in cellular communications that support IoT device connectivity are catering to the demand for IoT devices. Additionally, expanded use of cloud services in IoT and the benefits of their elastic pricing models will enable cost-effective computational resources that will further reduce cost of ownership and improve the value proposition for enterprise clients, further paving the path for accelerating deployment of LPWAN technologies.

North America dominated the Low Power Wide Area Network (LPWAN) market in 2017, Asia Pacific is the fastest growing region in the global Low Power Wide Area Network (LPWAN) market. Most of the LPWAN technologies offers low cost of ownership in comparison to the traditional cellular networks. Further, they borrow themselves to be used as public as well as private network deployments. The low-cost of ownership allows more interruption by enabling emerging players to undertake the role of network operators and by adopting the development of new business model groups along the value chain. For instance, players such as Senet started to install private networks in the U.S. for precise LPWAN service use cases (tank level monitoring) however, provided their networks to other IoT service providers for generating additional revenue. Senet is now deploying a nationwide public LoRaWAN network. Presently, SIGFOX has the largest coverage globally, announcing ongoing network deployments to 45 countries in February, 2018. Besides several European countries, the company’s coverage in the other countries is still sporadic. Though SIGFOX has its presence across Spain and France, Arqiva, Sigfox U.K. operator currently provides connectivity in around 12 UK cities only.

Lucrative Regions for Low Power Wide Area Network (LPWAN) Market

Lucrative Regions for Low Power Wide Area Network (LPWAN) Market
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Market Insights

Long life cycle and reduced maintenance cost offered by LPWAN

The LPWAN received significant traction during the initial years of IoT industry, this traction was primarily due to the long battery life that was offered by LPWAN. Another factors that are also driving the LPWAN market during the forthcoming years is the relatively low cost of deployment, long range broadcasting capabilities and usage of unlicensed spectrum (spectrum that are available of free). The low cost of deployment of the LPWAN is because of its increased usage of unlicensed spectrum of 1GHz frequency or less, this in-turn eliminates the sizeable amount of fees. Further, due to low data consumption, the LPWAN technology consumes low power, resulting in long lasting battery life to IoT devices, which leads to plummeted operational expenses.

Connectivity Technology-Based Market Insights

On the basis of connectivity technology is broadly classified into LORA WAN alliances, Sigfox, WI-Sum, Weightless LPWAN technology, NB-IoT and others. The LoRa alliance functions on a dissimilar strategy than SigFox. LoRa is more open for manufacturing, as each gateway and hardware manufacturer has the liberty to develop a gateway or module that complies with the LoRa specifications. As the LoRa alliance is open to anyone willing to build the hardware support, the fact has become a significant market traction. But, the pitfall in this policy is that the radio required for LoRa gateway and hardware is provided by Semtech only.

Services -Based Market Insights

On the basis of service segment of LPWAN is bifurcated into managed services and professional services. Rapid technology advancements have harassed the necessity to comprehend the complexities of the IoT environment and assure that the technology is synchronized with the business objectives of IoT companies. Integrating multiple connected and intelligent systems that serve different departments, functions, and stages in development lifecycles of these technologies have been a key challenge faced by organizations today on their growth path. Thus, organizations are seeking for implementing technology-driven business models to attain a competitive advantage.

Application -Based Market Insights

On the basis of application, the global Low Power Wide Area Network (LPWAN) market is categorized into smart street lighting, smart parking, smart metering, smart waste management, asset tracking and others (pet tracking, kids monitoring and, smart class and education. The LPWAN application is majorly based on capacity, consumption, coverage, and cost. An industry application with more than two positive parameters is considered as highly applicable for LPWAN while only one match places it at a low applicability level. In total, eight industries and 24 sub-industries were identified.

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Low Power Wide Area Network (LPWAN) Market: Strategic Insights

low-power-wide-area-network-lpwan-market
Market Size Value inUS$ 986.0 Million in 2017
Market Size Value byUS$ 28746.5 Million by 2025
Growth rateCAGR of 53.2% from 2018-2025
Forecast Period2018-2025
Base Year2017
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Product development is the commonly adopted strategy by companies to expand their product portfolio. Nwave Technologies, Sigfox, Semtech Corporation, Loriot, Link Labs, Inc. among others are the key players implementing strategies to enlarge the customer base and gain significant share in the global Low Power Wide Area Network (LPWAN) market, which in turn permits them to maintain their brand name. A few of the recent key developments are:

  • In 2018, Ingenu stated that it is improving its company strategy to concentrate completely on its technology and to provide RPMA (Random Phase Multiple Access) technology solution through Platform as a Service (PaaS).
  • In 2018, Actility declared the release of ThingPark Wireless 5.0. It is an advanced IoT connectivity platform designed for service providers and public IoT networks. The platform exhibits advanced security features for better data security, LTE-M & NB-IoT network integration, capable of multicast, new tools for deployment and updating the device firmware in the field, supporting LoRaWAN roaming.

Low Power Wide Area Network (LPWAN) Market Segmentation:

By Connectivity- Technology

  • LoRaWAN
  • Weightless 
  • Sigfox
  • NB-IoT
  • Wi-SUN
  • Others

By Services

  • Professional Services
  • Managed Services

By Application

  • Smart Streetlight
  • Smart Metering
  • Smart Building
  • Smart Waste Management
  • Smart Parking
  • Asset Management & Tracking
  • Others

Company Profiles

  • Nwave Technologies
  • Sigfox
  • Semtech Corporation
  • Loriot
  • Link Labs, Inc.
  • Waviot
  • Ingenu
  • Actility
  • Weightless SIG
  • Senet, Inc.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Connectivity Technology ; Services ; Application ; End-user

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies - Low Power Wide Area Network (LPWAN) Market

1. Nwave Technologies
2. SIGFOX
3. Semtech Corporation
4. LORIOT.IO
5. Link Labs, Inc.
6. Waviot
7. Ingenu Inc.
8. Actility
9. Weightless SIG
10. Senet, Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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