Low Power Wide Area Network (LPWAN) Market to Hit $65bn by 2025: Global Market Insights, Inc.
North American LPWAN market is expected to account for over 40% industry share by 2025 due to smartphone penetration and advanced IoT infrastructure.
SELBYVILLE, Del., March 21, 2019 /PRNewswire/ -- The LPWAN market is slated to rise from around USD 1.5 billion in 2018 to USD 65 billion by 2025, according to a 2019 Global Market Insights, Inc. report. LPWAN market growth is driven by the growing deployment of LPWA technologies, including LoRa, NB-IoT, and LTE-M, offering a wide range of connectivity options to enterprises. These technologies provide broader network coverage and better battery life to connect various devices. LPWAN networks are becoming very popular among enterprises to support various IoT use cases for verticals including healthcare, manufacturing, agriculture, logistics, and utilities.
The LPWAN platforms held a major low power wide area network market share of over 70% in 2018 owing to the deployment of various platforms, including NB-IoT, LoRaWAN, Sigfox, and LTE-M. Massive IoT deployments in various industry verticals, including utilities, manufacturing, transportation, and healthcare, has increased the demand for LPWAN platforms to support connected devices requiring low power consumption, long range, and low costs. Among all the platforms, LoRaWAN platforms held the highest market share of over 50% in 2018 as they use unlicensed spectrum and are best suited for applications that generate low traffic and require low-cost sensors.
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In the services segment, the managed services segment is expected to hold a LPWAN market share of around over 30% in 2025. Managed services enable organizations to accelerate the deployment of LPWAN and reduce the time & expenses spent on training the IT staff.
The on-premise deployment model is expected to grow at a CAGR of over 50% over the projected timeline. The demand for this deployment model will increase as it enables organizations to build & manage their own LPWAN for IoT-based applications.
The smart gas & water metering application is expected to hold a major share of around 20% in the LPWAN market in 2025. Traditional technologies including GPRS and ZigBee do not support long-range requirements to monitor performances across vast gas and water networks. Thus, to address challenges related to the deployment of advanced metering infrastructure, LPWAN technologies are used. These technologies provide secure communication with excellent range and help users to monitor usage remotely without the need for costly site visits.
Browse key industry insights spread across 300 pages with 488 market data tables & 28 figures & charts from the report, "Low Power Wide Area Network (LPWAN) Market Size By Component (Platform [Narrowband IoT {NB-IoT}, Long Term Evolution for Machines {LTE-M}, LoRaWAN, Sigfox, Weightless], Services [Professional Service, Managed Service]), By Deployment Model (On-premise, Cloud), By Application (Smart Gas and Water Metering, Asset tracking, Smart Buildings, Smart Parking, Precision Agriculture, Smart Waste Management, Livestock Monitoring), By End Use (Healthcare, Agriculture, Logistics and Transportation, Manufacturing, Utilities, Consumer Electronics, Government and Public Sector), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, Sweden, Australia & New Zealand (ANZ), China, India, Japan, South Korea, Southeast Asia, Brazil, Mexico, Argentina, Colombia, Chile, Israel, UAE, Saudi Arabia, South Africa), Growth Potential, Competitive Market Share & Forecast, 2015 – 2025" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/low-power-wide-area-network-lpwan-market
The healthcare LPWAN market is predicted to grow at a CAGR of over 65% during the forecast timeline. Growing adoption of the IoT in healthcare institutions increases the demand for a reliable communication infrastructure that will support IoT device connectivity. This facilitates the adoption of LPWAN, which helps them to efficiently connect and track devices. IoT solutions are integrated with LoRa -based sensors and gateways to monitor high-risk patients or systems to ensure patient's safety.
North America is expected to dominate the LPWAN market with a share of over 40% in 2025 due to smartphone penetration and advanced IoT infrastructure. Various efforts taken by market players for the deployment of LPWA technologies will also fuel low power wide area network (LPWAN) market growth.
Some of the players operating in the LPWAN market include Actility, AT&T, Avnet, Cisco, CONNIT, Sierra, Kerlink, Link Labs, Ingenu, LORIOT, Nwave, Orange, Qualcomm, Semtech, Senet, Sigfox, Vodafone, WavIoT, and Verizon.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global LPWAN Market Size worth over $65 Bn by 2025
The healthcare LPWAN market is predicted to grow at a CAGR of over 65% during the forecast timeline. Growing adoption of the IoT in healthcare institutions increases the demand for a reliable communication infrastructure that will support IoT device connectivity.
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SOURCE Global Market Insights, Inc.
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