Increasing penetration of industrial IoT (IIoT) will have a positive effect on Low Power Wide Area Network Market growth. Industrial IoT incorporates LPWA technologies including NB-IoT and LTE-M for enabling reliable machine-to-machine communication. Manufacturers have been looking to deploy IoT technologies for increasing the operational efficiencies of the production lines to cater the growing productivity demand.
Growing deployment of industrial IoT connections will necessitate cheap and reliable communication solutions such as LPWAN which may augment the manufacturing segment growth over the forecast timeframe. For instance, the industrial IoT connections are anticipated to grow five time from 2.4 billion connection in 2016 to 14 billion connections in 2025.
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Rising deployment of LPWAN technologies to facilitate low power communication with extended battery life will drive low power wide area network market outlook. In addition, the technology provides the connectivity options with much reduced costs as compared to traditional cellular networks, making it ideal for implementation of smart connectivity systems such as IoT (internet of things).
Increasing demand for reliable but cost effective connectivity solutions along with rising proliferation of IoT-enabled applications, such as smart water meters, precision agriculture, and smart transportation will accelerate the industry trends. Moreover, favorable government initiatives to boost deployment of smart city infrastructure will also drive (LPWAN) low power wide area network market growth.
The NB-IoT platforms segment is expected to witness the fastest growth rate of over 90% from 2019 to 2025. The growing IoT network ecosystem will generate the demand for networks that can provide connectivity to IoT devices, which require low mobility and low levels of data transfer such as smart water meters. NB-IoT technology improves the power consumption of these devices and meets the demanding coverage requirements.
In the services segment, professional services are expected to dominate the Low Power Wide Area Network Market in 2025 with a share of over 64%. The professional service providers offer various technical as well as advisory services to organizations to meet the demands of the evolving business environment. Through professional services such as consulting and support solutions, the service experts provide hands-on technical assistance and assist in network planning to make the deployment of LoRa networks easier.
The cloud deployment model in the Low Power Wide Area Network Market is projected to grow at a CAGR of over 68% over the forecast timeline. The customers prefer cloud platforms for quick IoT network deployment. By using the cloud deployment model, organizations can significantly reduce the deployment timeline and easily manage cloud-enabled LPWAN servers and gateways. The companies operating in the Low Power Wide Area Network Market are also offering cloud platforms, which will enable users to easily manage the data generated by IoT sensors and allow network operators to monitor the LPWA network.
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The Asia Pacific Low Power Wide Area Network Market is expected to witness the fastest growth rate of over 68% during the forecast timeline. The countries in the region including China, India, and the Netherlands are witnessing a surge in the adoption of IoT solutions in various industry verticals such as agriculture, manufacturing, utilities, and logistics. For instance, the government agencies in the countries including India and China are supporting digital transformation with initiatives, such as ‘Make in India’ & ‘Made in China 2025’, to promote the adoption of IoT across manufacturing industries. The massive implementation of IoT platforms will give rise to the demand for LPWA connections to support IoT-based applications, enabling smart factories. The global LPWAN vendors are also expanding their network in this region, increasing the uptake of LPWAN solutions.
The companies operating in the Low Power Wide Area Network Market are focusing on the expansion of their existing cellular networks to enable the deployment of IoT devices. For instance, in October 2018, Vodafone announced the expansion of its NB-IoT network in Spain and Germany by the end of 2019. Vodafone’s NB-IoT has a capacity to provide around four billion devices simultaneously. In September 2016, Digital Catapult launched an IoT network across London. The company deployed around 50 LoRaWAN base stations to address issues such as infrastructure provision, energy management, and transport services.
Some Points From Table Of Content: –
Chapter 8. Low Power Wide Area Network Market, By End Use
8.1. Key trends, by end use
8.2.1. Market estimates and forecast, 2015 – 2025
8.3.1. Market estimates and forecast, 2015 – 2025
8.4. Logistics and transportation
8.4.1. Market estimates and forecast, 2015 – 2025
8.5.1. Market estimates and forecast, 2015 – 2025
8.6.1. Market estimates and forecast, 2015 – 2025
8.7. Consumer electronics
8.7.1. Low Power Wide Area Network Market estimates and forecast, 2015 – 2025
8.8. Government and public sector
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