Rising deployment of Smart Meters Worldwide is anticipated to escalate the Low Power Wide Area Network (LPWAN) Market at a CAGR of 53.2%
Latest market study on “Low Power Wide Area Network (LPWAN) Market to 2025 by Connectivity Technology (LoRaWAN, Weightless, Sigfox, NB-IoT, and Wi-SUN); Services (Professional and Managed); Application (Smart Streetlight, Smart Metering, Smart Building, Smart Waste Management, Smart Parking, and Asset Management & Tracking); and End-user (Smart City, Oil and Gas, Healthcare, Manufacturing, Logistics and Transportation, Agriculture, and Consumer Electronics);– Global Analysis and Forecast”, the global Low Power Wide Area Network (LPWAN) market is accounted to US$ 986.0 Mn in 2017 and is expected to grow at a CAGR of 53.2% during the forecast period 2018 – 2025, to account to US$ 28746.5 Mn by 2025. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
The data collection through smart meters, over the years, have gained the subtle amount of momentum among the majority of the top global MNOs (Mobile Network Operators). MNOs have taken interest in this trend, particularly because if the market opportunity it presents. Smart metering in the coming years will consequently help lower the cost generated from manual meter reading and changing of meter batteries. Smart metering includes smart meters for water, gas, and electricity. The globally trending LPWAN technologies have also entered the smart metering space as an alternative to incumbent single vendor devices, wireless network and sometimes end-point systems are offered by a single vendor with proprietary technology and limited or have no interoperability. This creates vendor lock-in and scaling issues. Therefore, the smart metering industries are largely adopting LPWANs as it comprises multiple network operators, large ecosystems of device, and software vendors.
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The global Low Power Wide Area Network (LPWAN) market by end-user is fragmented into Smart City, Oil and Gas, Healthcare, Manufacturing, Logistics and Transportation, Agriculture, and Consumer Electronics. The Smart City is the leading the market for Low Power Wide Area Network (LPWAN). In the Asia Pacific region, China, India, and Southeast Asian countries such as Singapore, Malaysia among others are constantly upgrading their cities with advanced technologies in order to make them more intelligent. Also, the demand for smart water meter is deployment to witness an exponential growth in these smart cities as the smart city initiatives majorly focus on the energy sector.
Between 2015 and 2016 ERDF, the French electricity distribution company installed 3 Mn smart meters across the country with a count of 35 Mn running smart meters by 2020. In 2018, FACSA partnered with Semtech and IoTens for the deployment of smart water meters to help customers in Castellon to precisely track and regulate their water management. In February 2018, SenRa and Nordic Automation Systems partnered to deliver LPWAN solutions for remote metering and smart street lighting across India. Also, in 2017, China Telecom and China Unicom collaborated with Huawei, along with other technology partners as well as customers, to run street lighting, water metering, or street parking using NB-IoT in Shanghai, Shenzhen, and Shandong. Few of them were already deployed on a commercial scale.
North America leads the market followed by Europe and the Asia Pacific. However, during the forecast period, Asia Pacific is expected to grow at the fasted CAGR making the maximum contribution to the LPWAN market. Some of the major key players included in the report are Nwave Technologies, Sigfox, Semtech Corporation, Loriot, Link Labs, Inc., Waviot, Ingenu, Actility, Weightless SIG, and Senet, Inc. among others.
The report segments the global Low Power Wide Area Network (LPWAN) market as follows:
Global Low Power Wide Area Network (LPWAN) Market – By Connectivity Technology
Global Low Power Wide Area Network (LPWAN) Market – By Services
Global Low Power Wide Area Network (LPWAN) Market – By Application
Smart Waste Management
Asset Management & Tracking
Global Low Power Wide Area Network (LPWAN) Market – By End-user
Oil and Gas
Logistics and Transportation
Global Low Power Wide Area Network (LPWAN) Market – By Geography
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Asia Pacific (APAC)
Middle East and Africa (MEA)
South America (SAM)
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