NEW YORK, July 27, 2016 /PRNewswire/ -- "Rising need of long range connectivity between IoT devices is expected to drive the growth in the market"
MarketsandMarkets forecasts 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%. The LPWAN market is growing rapidly because of the increasing number IoT/M2M applications, rising need of long range connectivity between devices, and low cost and low power consumption of LPWAN technology is driving the growth in the market.
"Managed Services to grow at a higher CAGR"
The LPWAN market consists of professional services and managed services. The services market is expected to grow substantially in the future since most of the players are focusing on providing specialized services in the LPWAN industry. Managed services are expected to grow at a higher CAGR. Managed services assist companies in developing strategies and provide resources that allow them to manage the technology at a lower cost.
"Europe is expected to have the largest market share"
Europe is expected to be the largest revenue generator region for LPWAN vendors for the next five years, followed by North America. The region of Europe is a highly receptive market with continual development in the LPWAN technology. Orange, one of the largest mobile network operators in Europe, has joined LoRa Alliance to deploy its network across Europe.
Breakup of Primary Interviews:
- By Company type – Tier 1- 40%, Tier 2- 30%, Tier 3- 30%
- By Designation – C-Level – 68%, Director Level- 17%. Others- 15%
- By Region – North America- 40%, Europe-20%, APAC- 40%
Rising need of connectivity in large enterprises and Small and Medium Enterprises (SMEs), emerging smart cities and smart buildings and deployment of smart devices presents opportunities in the LPWAN market. The advancements in IoT technologies, cloud-based platforms and services are marked with increasing M2M applications and have led to significant investments in smart cities. The smart devices include smart meter, smart appliances, smart streetlights, smart parking systems and others.
The report includes the study of key players offering LPWAN technology: 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). Furthermore, the report also includes in-depth competitive analysis of the key players in the LPWAN market, with their company profiles, recent developments, and key market strategies.
The report will help the market leaders or new entrants in this market in the following ways:
1. This report segments the market into various sub-segments, covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across different end-users and regions.
2. This report will help in the better understanding of the competitors and gain more insights to better one's position in the market. There is a separate section on competitive landscape, which includes competitor ecosystem, mergers and acquisitions, integrations and expansions, and collaborations of various market vendors. Besides, there are company profiles of ten players in this market. In this section, market internals are provided that can put one ahead of the competitors.
3. The report also helps in understanding the overall growth of the market. It provides information on key market drivers, restraints, challenges, and opportunities.
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