Global LWAN Market Size

LWAN Market Analysis

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.