The Global [FURL=https://www.industryarc.com/Report/15107/low-power-wide-area-lpwa-network-market.html]Low Power Wide Area Network Market[/FURL] is forecast to reach $2.3 billion by 2025, growing at a CAGR of 12.7% from 2020 to 2025. The market growth is attributed to the factors such as increased adoption of IoT, M2M systems, increased need for long-range connectivity between these systems, rising penetration of 5G technology and others. Moreover, the exponential growth in smart city infrastructure is expected to stimulate development in the market.Key Takeaways
Low Power Wide Area Network (LPWAN) is quickly evolving as a game-changer in IOT applications, assessing most of the cellular network's limitations (e.g., high power, coverage gaps). LPWAN has specific features that render it especially appealing for the rising number of implementations around numerous industries, including infrastructure, logistics and transport, agriculture and smart cities.
North America region dominated the global Low Power Wide Area Network market in 2019 owing to the presence of advanced technologies, large number of manufacturers and the increasing demands for better connectivity network.
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Low Power Wide Area Network Market Segment Analysis - By Geography
North America region held the highest market growth in 2019. The market growth is attributed to the factors such as technological advancements, increasing demand for energy efficient devices and increasing demand for high speed communication in the region. The region also has a well-established infrastructure which allows easy implementation of advanced technologies and provides better connectivity. North America, which has prominently taken the lead on various technological developments such as smart homes, smart cities, Internet of Things (IoT), big data and consumer electronics; has emerged as the nucleus for Low Power Wide Area Network market demand. Moreover, APAC region is anticipated to witness the significant market growth during the forecast period 2020-2025. The market growth is owing to growing digitization, industrialization technological developments, growing data centres and others. Digitization provides fresh opportunities for exploiting emerging technology and adapting quickly to developments in the industry, with network infrastructure serving a significant role. Furthermore, the introduction of Industry 4.0 technologies fuel the growth of IOT smart technology frameworks which in turn drives the market growth of LPWAN.
Low Power Wide Area Network Market Drivers
Rising penetration of Cloud technologies
Growing implementation of IOT
Growing Penetration of 5G Technology
Market Landscape : The market for Low Power Wide Area Network market is consolidated with the top players including Link Labs, Ingenu, LORIOT, Nwave, Orange, Qualcomm, Semtech, Senet, Sigfox, Vodafone, WavIoT, and Verizon and among others.
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