According
to the new market research "Low Power Wide Area Network
Market by Connectivity Technology (SIGFOX, LoRaWAN, Weigthless and
Others), Technology Service, Network Deployment, Application, Verticals and
Region - Global Forecast to 2021", the global Low Power
Wide Area Network (LPWAN) market to grow from USD 1.01 Billion in 2016 to USD
24.46 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 89.3% during
the period 2016-2021.
The
LPWAN market is growing rapidly because of the increasing number of IoT/M2M
applications, rising need of long range connectivity between the devices, and
low cost and low power consumption of LPWAN technologies.
Browse and in-depth TOC on "Low
Power Wide Area Network Market"
58
- Tables
42
- Figures
121
- Pages
“Smart
Gas and Water Metering to grow at the highest CAGR”
The
report segments the global market on the basis of connectivity technologies,
technology services, network deployments, applications, verticals, and regions,
along with providing an in-depth analysis and market size estimations.
Applications include smart waste management, smart buildings, smart gas and
water metering, smart street lights, smart parking, livestock monitoring and
others (home security and healthcare). Smart gas and water metering is expected
to witness the highest growth rate. Smart meter rollouts represents a paradigm
shift to understand the energy consumption at all the levels in the power grid.
The mass adoption of LPWAN technology will promote greater standardization
between different smart meter manufacturers and vendors.
“Oil
and Gas vertical to experience the highest CAGR”
Among
verticals, oil and gas will lead the LPWAN market with a wide range of
organizations adopting LPWAN solutions in all regions. Lower oil prices are
driving the growth in this segment and encouraging companies to place a higher
business priority on optimization where IoT applications are relatively
immature. Connected devices and systems can facilitate efficient oil and gas
operations, with minimum human intervention, providing higher value than
traditional technology.
“Europe
to be the largest revenue generator”
The
report has been segmented by region: North America, Europe, Asia-Pacific
(APAC), Middle East and Africa (MEA), and Latin America. Europe is expected to
continue being the largest revenue generator region for LPWAN vendors for the
next five years, followed by North America. Whereas, APAC is expected to be the
fastest-growing region in the LPWAN market during the forecast period. The
market growth in developing regions can be attributed to the enhancements in
network connectivity.
Major
vendors that offer LPWAN technology are Semtech Corporation (California),
LORIOT (Switzerland), NWave Technologies (London), SIGFOX (France), WAVIoT
(Texas), Actility (France), Ingenu (San Diego), Link Labs (Maryland),
Weightless SIG, and Senet, Inc. (Portsmouth). These vendors have adopted
different types of organic and inorganic growth strategies such as new product
launches, partnerships and collaborations, and mergers and acquisitions to
expand their offerings in the LPWAN market.
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