LPWAN Devices Market - Forecast(2023 - 2028)

Report Code: ESR 0674 Report Format: PDF + Excel

LPWAN Devices Market Overview

LPWAN Devices Market size was valued at $2.4 billion in 2020 and it is estimated to grow at a CAGR of 32.8% during 2021-2026. Growing penetration of low power consuming connected devices such as smoke & fire alarms, bridge monitors, smart lighting, asset monitors, PIR cameras, actuators and others across various sectors such as residential, commercial and industrial is set to be one of the major drivers for the LPWAN Devices market. Along with this, Government’s initiative to promote smart city projects, wireless telecommunication and infrastructure investments along with the growing requirement of smart security systems are estimated to proliferate the adoption of LPWAN technology and fuel the market size. Apart from this, a prominent modulation technique, Chirp Spread Spectrum or CSS, used in LPWAN devices, are resilient to noise as well as to Doppler effect and can traverse long distances even when operating at very low power, which acts as a considerable factor for the growth of this market. Furthermore, it also offers robustness along with wide coverage to LPWAN applications, while supporting a massive amount of devices, thus increasing the adoption rate of these devices. Hence, the above mentioned factors are set to boost the market growth of LPWAN Device industry in the forecast period.

LPWAN Devices Market Report Coverage:

The report: “LPWAN Devices Market Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the LPWAN Devices Market.

By technology: SIGFOX, LoRa, NB-IOT & LTE-M, random phase multiple access (RPMA), Weightless SIG (Unidirectional weightless- N, bidirectional weightless- P, bidirectional weightless-W and others) and others.
By Device:  access points, gateways, transceivers, routers, wireless bridges, base station, nodes and others.
By End Product: smart meters (electric, water, gas), Position trackers, smart sensors and data loggers, smart light, smoke& fire alarms and others.
By Application:Smart Building (commercial only), smart home, smart lighting, smart metering, asset monitoring & tracking, smart parking, Smart factory, Smart farming and others.
By End User Industry: General Manufacturing, healthcare, transportation & logistics, power generation, oil & gas, utilities (water & wastewater, electricity, gas), agriculture, electronics & semiconductors, mining, food & beverage, automotive and others.
By Geography:North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, Rest of Europe), APAC (Japan, China, India, Australia, South Korea, rest of APAC), South America (Brazil, Argentina, rest of South America), and  RoW (Africa, Middle East)

Key Takeaways

  • By Technology LoRa is estimated to witness the fastest growth, as this technology allows the organizations to install its own network.
  • Agriculture sector is analyzed to grow with a significant amount of growth during the forecast period, owing to increasing demand for IoT, connected devices and digital platforms in agricultural sector.
  • North America dominates this market with highest market share, early adoption of new technologies and growing investments for smart city projects are the key factors contributing towards the market growth 2021-2026.
  • Increasing investment for smart city projects is a major growth driver for this market.

LPWAN Device Market Value Share, By Geography, 2020 (%)

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LPWAN Device Market Segment Analysis- By Technology

LPWAN Devices market is segmented into SIGFOX, LoRa, NB-IOT & LTE-M, random phase multiple access (RPMA), Weightless SIG (Unidirectional weightless- N, bidirectional weightless- P, bidirectional weightless-W and others) and others, based on technology. LoRa technology is anticipated to grow with fastest CAGR of 38.6% during the forecast period 2021-2026. Unlike other technologies such as SigFox, LoRa allows the companies to install their own network which can provide better system security by restricting third party intervention, making them perfectly suitable for smart factories, hospitals and others. Apart from this, the technology also provides better radio network connectivity to IoT devices compared to other technologies which is acting as a growth driver for this technology. Private industrial network system represent more than 55% of the deployment of LoRaWAN technology and it is set to increase during 2021-2026. In July 2020, LoRa alliance had collaborated with the Smart Water Network Forum (SWAN) to provide advanced data driven solutions with water networking and to increase the adoption of LoRaWAN technology in water metering.

LPWAN Device Market Segment Analysis- By End-User industry

By end-user industry, the LPWAN Devices market is segmented into General Manufacturing, healthcare, transportation & logistics, power generation, oil & gas, utilities (water & wastewater, electricity, gas), agriculture, electronics & semiconductors, mining, food & beverage, automotive and others. Agriculture sector is anticipated to witness significant amount of growth of CAGR of 37.5%; followed by a healthcare LPWAN market with a growth of CAGR 36.9% during the forecast period 2021-2026. With an increasing demand for IoT technologies, connected devices and digital platforms in agricultural sector, the farmers face connectivity issues. LPWAN network has been poised to be more suitable for agriculture sector owing to its cost effectiveness, better connectivity and network coverage. LPWAN is widely used for smart farming applications and precision agriculture. The UN FOOD and Agriculture Organization estimated that by 2050, to meet the demand of rapidly growing world population, food production has to rise by 60% and according to the recent studies, precision agriculture using IoT technologies can assist this. LPWAN provides better connectivity to the sensors along with the actuators that gathers the data about soil health, chemical composition, humidity and environment from the nodes of the sensors and actuators composed in Wireless Sensor and Actuator Network protocol. Apart from this, farmers can monitor their farm assets, cattle, control irrigation process and others better with LPWAN network. Furthermore, the growth of healthcare industry is primarily driven by wide adoption of smart monitoring systems and IoT in health sector. The demand for reliable communication system and requirement for patient’s safety measures facilitates the adoption of IoT in this sector, therefore increasing the demand for LPWAN devices. In addition, the current Covid-19 pandemic has opened up new growth avenues for LPWAN based health monitoring devices for monitoring patients remotely within healthcare institutions. Thus, these factors ultimately contribute to the market growth.

LPWAN Device Market Segment Analysis- By Geography

North America region held the highest market share of 38.5% of global LPWAN device market in 2020, due to the early adoption of advanced technology, growth in advanced IoT infrastructure and increasing penetration of connected devices across industries.Growing investment for smart city projects, increasing investments in deployments, rising demand for smart devices are fueling the market growth. In September 2020, Senet, Inc., a North American company, has secured $16M funding from Fisk Ventures to meet the increasing global demand for LoRaWAN network deployment. Moreover, APAC region is estimated to witness significant market growth during the forecast period 2021-2026. This growth is driven by the rapid adoption of IoT technologies and growing investments in smart city projects in Asian countries with favorable government support for the adoption of IoT technologies which can stimulate the development of a strong ecosystem. In November 2020, The Government of India invited investors to invest in Indian smart city projects as India is a developing country with numerous growth opportunities. These factors are set to boost the growth of this market during the forecast period.

LPWAN Devices Market Drivers

Increasing Investment in Smart City Projects:

The numbers of Smart city projects are expected to grow rapidly because of the increasing public safety issues, rapid urbanization, government’s initiatives, increasing concerns for environment and others. In June 2020, The Singapore Government had announced to increase the investment in smart city projects and information technology by 30%. In April 2021, Mitsubishi Corporation added a new urban transit-oriented mixed use development project, to its smart city program, near Jakarta. Similarly, due to the pandemic, paper bureaucracy dependent Japan is taking initiatives toward its digital transformation, resulting in high investments on smart city projects by the Japanese Government which will work as a key influence for the digital transformation and economical revival of Japan. LPWAN devices can provide long range connectivity with low cost which is basic requirement for smart city projects. LPWAN can provide city wide connectivity over a sigle platform that stimulates the development for a strong ecosystem. With growing investments in smart city projects across the globe, the demand for LPWAN devices is also rising.

Increasing Adoption of Unlicensed LPWAN Technologies:

Due to the rapid adoption of unlicensed LPWAN technologies such as SigFox, LoRa and others, the market for these technologies is growing rapidly compared to the other technologies.Customers with budgetary constraints can opt for unlicensed LPWAN technologies which will be more budget friendly whereas other technologies with licensed spectrum can be expensive. This affects the adoption of unlicensed LPWAN technologies positively and drives the LPWAN device market towards growth.

LPWAN Devices Market Challenges

Scalability Level:

Although LPWAN devices market is growing at a rapid phase, the scalability level of this network is expected to hinder the market growth. The scalability level declines with the increasing number of LPWAN devices which as a result leads to poor performance of those devices. There are alternative technologies such as ALOHA which doesn’t have any scalability issues are also analyzed as one of the major challenges for this market.

LPWAN Device Market Landscape

Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the LPWAN Devices market. As of 2020, LPWAN Devices industry outlook is consolidated with the top players including Actility Information Technology and Services, Semtech Corporation, Cisco Systems, Inc., Vodafone Group Plc, Ingenu Inc., Huawei Technologies Co., Ltd., AT&T Inc., STACKFORCE GmbH, NWave Technologies and others.

Acquisitions/Technology Launches

  • In November 2020, HERE Technologies and global IoT connectivity provider, Actility information technology partnered together to develop and provide a new cutting edge IoT Tracking service based on LoRaWAN technology for location data management and mapping.
  • In October 2020, Sigfox Germany partnered with Sensoneo to develop an indoor waste bin monitoring and waste collection tool that will have a Sigfox sensor and button technology for identifying full bins. Sensoneo’s cloud based smart waste management system will collect all the data and will provide the optimal solutions such as requests for full bins and calculation for the optimal route.

Relevant Report Titles:

Weightless LPWAN Devices Market – Forecast (2021 - 2026)

Report Code: ESR 0684

Low Power Wide Area (LPWA) Network Market – Forecast (2021 - 2026)

Report Code: ITR 0029

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1. LPWAN Devices Market Overview
    1.1 Definitions and Scope
2. LPWAN Devices Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends By Application
    2.3 Key trends segmented by Geography
3. LPWAN Devices Market – Market Landscape
    3.1 Comparative Analysis
        3.1.1 Product/Company Benchmarking-Top 5 Companies
        3.1.2 Top 5 Financial Analysis
        3.1.3 Market Value Split by Top 5 Companies
        3.1.4 Patent Analysis
        3.1.5 Pricing Analysis (Comparison of General Price of Industry Solutions)
4. LPWAN Devices Market – Industry Market Entry Scenario Premium (Premium)
    4.1 Regulatory Scenario
    4.2 Ease of Doing Business Index
    4.3 Case Studies
    4.4 Customer Analysis
5. LPWAN Devices Market – Startup Company Scenario (Premium)
    5.1 Venture Capital and Funding Scenario
    5.2 Startup Company Analysis
6. LPWAN Devices Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. LPWAN Devices Market – By Strategic Analysis (Market Size -$Million/Billion)
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Product Life Cycle/Market Life Cycle Analysis
8. LPWAN Devices Market – By End User (Market Size -$Million/Billion)
    8.1 General Manufacturing
    8.2 Healthcare
    8.3 Transportation and Logistics
    8.4 Power Generation
    8.5 Utilities
        8.5.1 Water and Waste Water
        8.5.2 Electricity
        8.5.3 Gas
    8.6 Oil and Gas
    8.7 Agriculture
    8.8 Electronics and Semiconductor
    8.9 Mining
    8.10 Food and Beverage
    8.11 Automotive
    8.12 Others
9. LPWAN Devices Market – By Application (Market Size -$Million/Billion)
    9.1 Smart Building
    9.2 Smart Home
    9.3 Smart Lighting
    9.4 Smart Metering
    9.5 Asset Monitoring and Tracking
    9.6 Smart Parking
    9.7 Smart Factory
    9.8 Smart Farming
    9.9 Others
10. LPWAN Devices Market – By Technology (Market Size -$Million/Billion)
    10.1 SigFox
    10.2 LoRa
    10.3 NB-IoT
    10.4 RPMA
    10.5 Weightless SIG
        10.5.1 Unidirection Weightless-N
        10.5.2 Bidirection Weightless-P
        10.5.3 Bidirection Weightless-W
        10.5.4 Others
    10.6 Others
11. LPWAN Devices Market – By Device (Market Size -$Million/Billion)
    11.1 Access Points
    11.2 Gateways
    11.3 Transceivers
    11.4 Routers
    11.5 Wireless Bridges
    11.6 Base Station
    11.7 Nodes
    11.8 Others
12. LPWAN Devices Market – By End Product (Market Size -$Million/Billion)
    12.1 Smart Meters
        12.1.1 Electricity
        12.1.2 Gas
        12.1.3 Water
    12.2 Position Trackers
    12.3 Smart Sensors and Data Loggers
    12.4 Smart Lighting
    12.5 Smoke and Fire Alarms
    12.6 Others
13. LPWAN Devices Market - By Geography (Market Size -$Million/Billion)
    13.1 North America
        13.1.1 U.S
        13.1.2 Canada
        13.1.3 Mexico
    13.2 Europe
        13.2.1 Germany
        13.2.2 France
        13.2.3 UK
        13.2.4 Italy
        13.2.5 Spain
        13.2.6 Russia
        13.2.7 Netherlands
        13.2.8 Others
    13.3 APAC
        13.3.1 China
        13.3.2 Japan
        13.3.3 South Korea
        13.3.4 India
        13.3.5 Australia
        13.3.6 Indonesia
        13.3.7 Malaysia
        13.3.8 Others
    13.4 South America
        13.4.1 Brazil
        13.4.2 Argentina
        13.4.3 Chile
        13.4.4 Colombia
        13.4.5 Others
    13.5 RoW
        13.5.1 Middle East
        13.5.2 Africa
14. LPWAN Devices Market - Market Entropy
    14.1 New product launches
    14.2 M&A's, collaborations, JVs and partnerships
15. LPWAN Devices Market – Industry Competitive Landscape (Premium)
    15.1 Market Share – Global
    15.2 Market Share by Region
    15.3 Market Share By Application
16. LPWAN Devices Market – Key Company List by Country Premium (Premium)
17. LPWAN Devices Market - Company Analysis
    17.1 Company 1
    17.2 Company 2
    17.3 Company 3
    17.4 Company 4
    17.5 Company 5
    17.6 Company 6
    17.7 Company 7
    17.8 Company 8
    17.9 Company 9
    17.10 Company 10