Low-Power Wide Area Networks Market: Low cost and power consumption of LPWAN technology to drive growth
LPWAN technology reduces power requirements, provides a longer range, and lowers operational costs compared to traditional mobile networks. LPWAN requires less bandwidth and can have more devices in a large coverage area than consumer mobile technologies. In addition, the low-power wide area network technology is much cheaper compared to mobile network and is designed to penetrate the walls of buildings by enabling reliable indoor connectivity. These benefits have increased the use of LPWAN technology in industrial IoT, civic, and commercial applications. All these factors are expected to significantly contribute to the growth of the global low-power wide area networks market during the forecast period.
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As per Technavio, the increased penetration of mobile-computing devices will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Low-Power Wide Area Networks Market: Increased Penetration of Mobile-Computing Devices
The adoption of mobile computing devices such as smartphones, tablets, and other smart devices is increasing significantly across the globe. The rise in smartphone adoption has subsequently increased the number of mobile applications on leading platforms such as iOS and Android. This has increased the dependency on the internet by organizations to cater to their growing business and personal needs. This is increasing the demand for improved connectivity, which, in turn, is expected to foster the growth of the low-power wide area networks market during the forecast period.
"Increase in development of smart cities and rising adoption of IoT will further boost market growth during the forecast period", says a senior analyst at Technavio.
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Low-Power Wide Area Networks Market: Segmentation Analysis
This market research report segments the low-power wide area networks market by End-user (Agriculture and environment, Smart buildings, Consumer, Utilities, and Others) and Geography (Europe, North America, APAC, South America, and MEA).
The Europe region led the low-power wide area networks market in 2021, followed by North America, APAC, South America, and MEA respectively. During the forecast period, Europe is expected to register the highest incremental growth due to the increasing adoption of technology-based solutions among businesses in the region.
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Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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Website: www.technavio.com/
Report: www.technavio.com/report/low-power-wide-area-networks-market-industry-analysis
SOURCE Technavio
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