Low-Power WAN Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 32.01 Billion |
| Market Size (2029) | USD 260.13 Billion |
| CAGR (2024 - 2029) | 52.05 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Low-Power WAN Market Analysis
The Low-Power WAN Market size is estimated at USD 32.01 billion in 2024, and is expected to reach USD 260.13 billion by 2029, growing at a CAGR of 52.05% during the forecast period (2024-2029).
A low-power WAN (LPWAN) wireless wide area network connects low-bandwidth, battery-operated devices at low bit rates over large distances.
- Over the forecast period, it is predicted that the growing need for low-power wide-area connectivity in the Internet of Things (IoT) applications will propel the growth of the entire market.
- Applying the abovementioned capabilities increases productivity twofold and aids in tracking crop development. In this industry, LPWAN facilitates the transmission of small amounts of data across long distances, which is anticipated to positively affect market growth throughout the forecast period.
- Fleet management, GPS tracking, smart meters, smart grid management, home automation, waste management, process monitoring and control, and temperature monitoring are just a few of the critical applications of LPWAN.
- Future coverage and scalability, technological coexistence, and real-time communication are only a few of the issues with this technology that could hinder its widespread adoption and commercialization. In addition, network security, which is less reliable than transmitting data back to endpoints, might also be vulnerable to interference.
- The most helpful technology for assisting medical diagnosis and treatment during COVID-19 was 5G, and the trend is still going strong today. Since the network's high capacity and low latency allow the transmission of high-definition footage for processing and analytics, the healthcare sector, for example, has profited the most from deploying 5G. With this tool, healthcare providers can recognize patients acting differently than average, having just undergone an incident like a fall, or becoming a danger to themselves or others.
Low-Power WAN Market Trends
5G Technology to Drive the Market Growth
- The following generation of mobile networking technologies, or 5G, is equipped to deliver an enhanced end-user experience with seamless coverage, high data speeds, reduced latency, superior performance, and effective communications.
- One of many areas that 5G connection will affect is the world of cell phones. For example, the poor download speeds and high latency of 4G have long been a barrier to infrastructure developments in the Internet of Things (IoT) and machine-to-machine (M2M). As more devices are linked to a network and conversing with one another, the cumulative effect of any latency will become more substantial and perceptible.
- Because of its advanced research and development from the local supply chain, early and significant backing from the domestic government in infrastructure capacities, and consumers' interest in future technologies inside and outside the vehicle, China is expected to lead the early deployment of 5G-capable vehicles. The adoption process is made much more straightforward because these cars will only be sold in China's sizable domestic market, where 5G infrastructure and standards are likely to be uniformly applied.
- In addition, 5G will significantly enhance smart city services for public safety. Real-time analytics of video recordings from public locations paired with biometric software would be able to recognize risky situations and automatically alert authorities quickly in cases like a car accident or terrorist strike. Data management platforms will connect various services, and 5G-enabled equipment will be able to get more updates wirelessly, unlike present CCTV systems.
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North America Expected to Occupy a Major Share
- With the rise of smart cities and the Industrial Internet of Things, North America has a significant concentration of this developing IoT technology. These are some of the leading causes behind the expansion of LPWAN in the area.
- The region has seen a lot of progress toward the expansion of smart cities. These are anticipated to boost LPWAN usage in the area even further.
- Additionally, due to an increased need for better fleet management solutions, digital or smart infrastructure development across airports, shopping centers, and other industries is anticipated to fuel market expansion throughout the region during the projection period.
- The rising application fields for LPWAN, such as smart meters, home energy management, building automation, and security lighting, are significant drivers of demand growth. LPWANs are a technology that offers a practical solution and ensures that data is transmitted over unlicensed spectrum bands like the sub-1 GHz or sub-3 GHz range, which anyone can use to develop their network. This is important because there are growing concerns about the security of Internet of Things (IoT) devices and the need for encrypted communication channels around the area.
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Low-Power WAN Industry Overview
The low-power WAN market is moderately fragmented. With the increase in the IoT ecosystem, various technologies, such as LPWAN, are also evolving, which drives the players to invest in the market. Moreover, the players are entering the market gradually with technological upgradation. Some key players include Cisco Systems Inc., Sigfox SA, AT&T Inc., Vodafone Group PLC, Semtech Corporation, Huawei Technologies Co. Ltd, and Ingenu Inc.
In March 2023, Semtech Corporation, the first third-party announcement Products from Browan, Deviceroy, HSB's Meshify, and New Cosmos are currently available and based on Semtech's LoRa technology. Some of the first Sidewalk-qualified products to be a part of the secure, shared network that helps devices work better around the home and in the community include Browan's motion and carbon dioxide sensors, Deviceroy's smart modem for solar installations, HSB's Meshify water sensor, and New Cosmos DeNova Detect natural gas alarm.
In March 2023, iWire Global announced the establishment of its newest subsidiary, Una-IoT, the exclusive operator of the 0G Network, powered by Sigfox 0G technology, in Turkey. Una-IoT was established as a venture between iWire Global and IoT NET Bilisim, a Turkish firm specializing in IoT services and solutions based out of Ankara. This move is expected to fuel the growth of the IoT sector in Turkey to meet the growing market demands for massive IoT solutions, including smart utility metering, logistics, smart cities, and asset management.
Low-Power WAN Market Leaders
Semtech Corporation
Sigfox SA
Huawei Technologies Co. Ltd
Ingenu Inc.
Cisco Systems Inc.
*Disclaimer: Major Players sorted in no particular order
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Low-Power WAN Market News
- April 2023: Semtech Corporation announced the expansion of its PerSe product portfolio with a brand-new integrated circuit (IC) that is intended for 5G mobile devices is being released. With the aid of Semtech's PerSe technology, advanced radio frequency (RF) control may be implemented on end devices like smartphones. Designers may optimize RF performance, improve connectivity, and ensure higher compliance with worldwide specific absorption rate (SAR) criteria for 5G-enabled consumer products with the PerSe connects SX9376.
- April 2023: UnaBiz announced opening the proprietary technology and making the Sigfox 0G technology device library code available to the public and the IoT developers community. UnaBiz makes it simpler for a much more comprehensive range of developers, engineers, users, and students to integrate the 0G technology into their IoT devices and applications and develop more effective solutions in terms of energy consumption, multi-connectivity, and build extra features on top of the library.
Low-Power WAN Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Buyers/Consumers
4.3.2 Bargaining Power of Suppliers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising Need of Long Range Connectivity Between Devices
5.1.2 5G Technology to Drive the Market Growth
5.2 Market Restraints
5.2.1 Privacy and Security Concerns
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 LoRaWAN
6.1.2 NB-IoT
6.1.3 LTE-M
6.1.4 Other Types (Sigfox, Weightless, etc.)
6.2 By Service
6.2.1 Professional Service
6.2.2 Managed Service
6.3 By End-user
6.3.1 Oil and Gas
6.3.2 Consumer Electronics
6.3.3 Healthcare
6.3.4 Industrial Manufacturing
6.3.5 Logistics and Travelling
6.3.6 Other End-users
6.4 By Application
6.4.1 Smart Cities
6.4.2 Smart Homes/Buildings
6.4.3 Smart Agriculture
6.4.4 Other Applications
6.5 By Geography
6.5.1 North America
6.5.2 Europe
6.5.3 Asia-Pacific
6.5.4 Latin America
6.5.5 Middle East & Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Semtech Corporation
7.1.2 Sigfox SA
7.1.3 Huawei Technologies Co. Ltd.
7.1.4 Ingenu Inc.
7.1.5 Cisco Systems Inc.
7.1.6 AT&T Inc.
7.1.7 Vodafone Group PLC
7.1.8 Loriot AG
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Low-Power WAN Industry Segmentation
Low-power wide-area network (LPWAN) is a particular network that enables long-range communication at a low bit rate. LPWAN overcomes the technological choice for constructing IoT networks globally. This wireless technology can be integrated into streetlights, cars, manufacturing equipment, home appliances, and wearable devices. LPWAN offers a plausible mix of long-range, low power consumption, and secure data transmission.
The Low Power WAN Market is segmented by Type (NB-IoT, Lorawan, and LTE-M), Service (Professional Service and Managed Service), End-user (Oil and Gas, Consumer Electronics, Healthcare, Industrial Manufacturing, and Logistics and Travelling), Application (Smart Meters, Smart Buildings, Smart logistics, and Smart Agriculture), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
| By Type | |
| LoRaWAN | |
| NB-IoT | |
| LTE-M | |
| Other Types (Sigfox, Weightless, etc.) |
| By Service | |
| Professional Service | |
| Managed Service |
| By End-user | |
| Oil and Gas | |
| Consumer Electronics | |
| Healthcare | |
| Industrial Manufacturing | |
| Logistics and Travelling | |
| Other End-users |
| By Application | |
| Smart Cities | |
| Smart Homes/Buildings | |
| Smart Agriculture | |
| Other Applications |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle East & Africa |
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Low-Power WAN Market Research FAQs
How big is the Low-Power WAN Market?
The Low-Power WAN Market size is expected to reach USD 32.01 billion in 2024 and grow at a CAGR of 52.05% to reach USD 260.13 billion by 2029.
What is the current Low-Power WAN Market size?
In 2024, the Low-Power WAN Market size is expected to reach USD 32.01 billion.
Who are the key players in Low-Power WAN Market?
Semtech Corporation, Sigfox SA, Huawei Technologies Co. Ltd, Ingenu Inc. and Cisco Systems Inc. are the major companies operating in the Low-Power WAN Market.
Which is the fastest growing region in Low-Power WAN Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Low-Power WAN Market?
In 2024, the North America accounts for the largest market share in Low-Power WAN Market.
What years does this Low-Power WAN Market cover, and what was the market size in 2023?
In 2023, the Low-Power WAN Market size was estimated at USD 21.05 billion. The report covers the Low-Power WAN Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Low-Power WAN Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Low-Power WAN Industry Report
Statistics for the 2024 Low-Power WAN market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Low-Power WAN analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Low-Power WAN Market Report Snapshots
