Low Power Wide Area Network (LPWAN) Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company’s Low Power Wide Area Network (LPWAN) Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 25, 2024 /EINPresswire.com/ -- The low power wide area network (LPWAN) market has witnessed exponential growth in recent years, projected to expand from $10.55 billion in 2023 to $16.24 billion in 2024, at a remarkable compound annual growth rate (CAGR) of 53.8%. This growth surge in the historic period can be attributed to several factors including adoption in wildlife tracking and conservation, Industry 4.0 initiatives, security systems based on LPWAN, growth in asset monitoring, and utilization in air quality monitoring.

The LPWAN market is set to continue its rapid ascent, expected to soar to $90.67 billion by 2028, growing at a CAGR of 53.7%. This forecasted growth is driven by escalating demand for IoT connectivity, the necessity for long-range, low-power communication solutions, penetration into smart agriculture, increasing adoption of smart city solutions, and the expanding footprint in smart metering applications. Noteworthy trends in the upcoming years include strategic collaborations, agricultural IoT expansion, integration of LPWAN with edge computing, proliferation into fleet management solutions, and integration with renewable energy systems.

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Key Players and Market Trends
Major companies such as Amazon Web Services Inc., Google LLC, Microsoft Corporation, and Huawei Technologies Co. Ltd. are intensifying their focus on developing advanced products to maintain a competitive edge. This includes innovations in next-generation LPWAN modules, designed to enhance performance, energy efficiency, and connectivity for IoT applications and smart devices.

For instance, Telit Cinterion launched a 5G LPWA module portfolio in February 2023 featuring Sony's Altair ALT1350 chipset. These modules offer high-speed data transfer capabilities, low power consumption, and are tailored for various applications in the massive IoT market, including edge processing and indoor/outdoor positioning.

Low Power Wide Area Network (LPWAN) Market Segments
• Technology: Long Range Wide Area Network (LoRaWAN), Narrowband Internet of Things (NB-IoT), Sigfox, Other Technologies
• Deployment Model: On-Premise, Cloud
• Application: Smart Building, Smart Gas And Water Monitoring, Smart Waste Management, Smart Agriculture, Smart Parking, Other Applications
• End User: Healthcare, Oil And Gas, Industrial Manufacturing, Agriculture, Consumer Electronics, Transportation And Logistics, Other End Users

Geographical Insights: Asia-Pacific Leading the Market
North America dominated the LPWAN market in 2023, while Asia-Pacific is anticipated to emerge as the fastest-growing region during the forecast period. Detailed insights into regional dynamics, market trends, and growth opportunities are provided in the comprehensive report.

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Low Power Wide Area Network (LPWAN) Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Low Power Wide Area Network (LPWAN) Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on low power wide area network (LPWAN) market size, low power wide area network (LPWAN) market drivers and trends, low power wide area network (LPWAN) market major players, competitors' revenues, market positioning, and market growth across geographies. The low power wide area network (LPWAN) market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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