Global LWAN Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The global LWAN market is expected to reach USD 1,275.06 billion by 2027, registering a CAGR of 8.35% during 2022-2027. The global low power wide area network (LWAN) market is growing at a fast rate owing to the increasing adoption of the Internet of things (IoT), machine-to-machine (M2M), and the rising need for long-range connectivity of devices.

• Low-Power Wide-Area Networks (LPWANs) are becoming one of the main building blocks for the Industrial IoT (IIoT) ecosystem, with most of the industries adopting Industry 4.0 practices and an alternative to 2G/3G/4G cellular networks where long-range communication at light speed is needed by battery-powered sensors spread around the factory. Among the most promising approaches, SIGFOX is an ultra-narrow band technology that allows similar signal coverage to cellular networks at one-thousandth of its power requirements.
• With the environmental changes, businesses are investing highly in smart city development, which is expected to play an important role in IoT adoption. Global Smart Cities Primer Picks, Bank of America Merrill Lynch (BAML) anticipates smart city technology and management investment to reach more than USD 3.48 trillion by 2026 globally.
• Increasing roll-outs in many parts of the world are driving the growth of the LPWAN industry. For instance, on March 15, 2022, The LoRa Alliance, the global association of companies backing the open LoRaWAN standard for the internet of things (IoT) low-power wide-area networks (LPWANs), announced significant market traction across France and Spain. LoRaWAN is already one of the preferred global choices for LPWAN, with more than 225 million LoRa/LoRaWAN end nodes.
• For the last two years, the COVID-19 pandemic has continued to impact many industries of the world as the infection spreads through person-to-person contact. Transmission and prognosis, once infected, are potentially influenced by many factors. Particulate Matter (PM) is a complex mixture of solid and/or liquid particles suspended in the air that can vary in shape, size, and composition, and recent scientific work correlate this index with a considerable risk of COVID-19 infections.
• The Internet of Things (IoT) and Early Warning Systems (EWS) have given rise to the development of Low Power Wide Area Networks (LPWAN) based on sensors, which monitor In-door Air pollution Quality (IAQ) and measure PM levels in real-time. The COVID-19 pandemic had led to the implementation of lockdown regulations across several nations resulting in disruptions in export and import activities of Enterprise LPWAN.
• Few of the challenges to this technology that may hamper the overall adoption and market include the cost of changing legacy equipment, future coverage and scalability, technology co-existence, and real-time communication. In addition, the network's security, not as robust as sending data back to endpoints, can also be prone to interference.

Scope of the Report

Low-power wide-area networks(LPWAN) Or low-PowerWide-Area(LPWA) networks are wireless communication technologies designed for low data-rate, power-efficient communication over long distances at a low cost. The Global LWAN Market is segmented by Network Type (LTE-M, NB-IoT, Sigfox, and LoRa) End User (Utilities, Smart City, Consumer/Smart Homes, Industrial and Transportation, and Logistics), and Geography.

Report scope can be customized per your requirements. Click here.

Key Market Trends

Utilities Segment will Hold the Major Share of the Market

• The introduction of LoRa in 2010 and Sigfox in 2009 was expected as the start of the shift away from FN and PLC. However, the utility industry is risk-averse, and any new technology takes time to gain a foothold in the market. The utilities tended to often stick to the ‘tried and tested’ solutions, especially in established markets. However, these technologies saw enough interest that they caused a reactive response from the telecommunication industry, thus paving the way for the creation of LTE-M and NB-IoT.
• Communities and cities across the globe are looking to adopt advanced technologies such as the Internet of Things (IoT) and Cyber-Physical Systems (CPS) to improve the quality of life for their residents. Such a system involves cyber-networking devices and other supporting systems working with physical infrastructure. When applied to health care, transportation, utilities, and other sectors, these CPS and IoT could promote economic growth, expand and improve services, and enhance the quality of life.
• For Instance, In France, Birdz, which already operates 400,000 LoRa-connected smart meters in Lyon, announced that it would connect over 3 million smart water meters to the Public LoRaWAN network over the next ten years. NICIGAS installed 850,000 meters of gas with Sigfox connectivity in Japan. In China, NB-IoT tracks nearly 1 million electric bikes in Zhengzhou and monitors 170,000 wired smoke detection and warning systems in rental homes in the Hangzhou Yuhang district.
• Many government agencies are actively initiating new projects to improve the life quality of residents. For instance, NIST and its partners advise and nurture Clusters in their development of groundbreaking Internet of Things (IoT) applications for smart cities and communities. The GCTC so far has recruited over 200 Action Clusters, involving 500 companies and over 200 cities and universities. Forty percent of these Clusters are outside the U.S. These Action Clusters are enabling innovation across the United States, Asia, Africa, and Europe.
• In February 2022, NIST International Collaboration will develop a new framework for smart cities and communities. The framework provides the basis for developing measurement methods and tools that allow for adaptability, integration, and extensibility at three interacting levels of analysis: infrastructure services, technologies, and community benefits.

To understand key trends, Download Sample Report