Dublin, May 27, 2021 (GLOBE NEWSWIRE) -- The "Low Power Wide Area Network Market by Connectivity Technology, Deployment Model, Application and Geography - Global Forecast up to 2026" report has been added to ResearchAndMarkets.com's offering.
The LPWAN market is predicted to grow at a 12.6% CAGR by 2026.
Low Power Wide Area Network is swiftly emerging as a game-changer in IoT applications, evaluating most of the cellular network's limitations, for instance, high power coverage gaps. LPWAN has particular characteristics which render it incredibly captivating for the increasing number of implementations among various industries, such as logistics and transport, infrastructure, agriculture, and smart cities.
The increased demand for low power wide area network technology is ascribed to the features such as less power consumption and safe data transmission. Additionally, with the evolution of cloud-based technologies, the demand for financial analytics systems has increased. Cloud-driven technologies favor stable data management and generate result-oriented production.
However, these programs enhance the business's efficiency by improving real-time details, which has majorly accelerated the market growth. A critical factor that is likely to hamper the low power wide area network market growth is the issue associated with privacy and security.
On the basis of connectivity technology, the NB-IoT or narrowband internet of things technology segment is expected to hold a major market share. The IoT network's rising ecosystem will generate demand for networks that will offer access to IoT devices that require low latency and low data transmission speeds, such as smart water meters. Moreover, NB-IoT technology increases the power efficiency of these instruments and meets the challenging specifications for coverage.
The cloud deployment model has the greatest share in the market as per the deployment mode since most customers deploy cloud services to integrate the internet of things quickly. Enterprises can majorly diminish the deployment timeline when following the cloud deployment model and managing the cloud-based LPWAN servers and gateways with ease.
As in the application market, the smart gas and water metering segment has witnessed the market's highest growth rate. The gas meters transfer readings to the gateway with the help of low power wide area network and depicts the output in a cloud web-based interface. Vendors operating in this market provide several wireless network options to allow IoT connectivity for smart gas & water meters.
According to the regional market for low power wide area network, the North America region held a substantial market share. This region's market driving factors are the high adoption of advanced technologies, rising demand for energy-efficient devices, and increasing high-speed communication requirements in this region.
Furthermore, the increasing implementation of the IoT in various applications worldwide is majorly driving the global market. Since the IoT assists in products and services being more personalized, the products and services can be much more based on consumers' desires and expectations. IoT helps businesses gather huge volumes of consumer information in real-time, allowing a more personal perspective of the client.
Scope of the Report
Low Power Wide Area Network Market based on Connectivity Technology
Low Power Wide Area Network Market based on Deployment Model
Low Power Wide Area Network Market based on Application
Smart Waste Management
Smart Gas and Water Metering
The key players of the low power wide area network market are:
Vodafone Group Plc
Link Labs Inc.
Companies to Watch
Key Topics Covered:
1. Executive Summary
2. Industry Outlook
3. Market Snapshot
4. Market characteristics
5. Connectivity Technology: Market Size & Analysis
6. Deployment Model: Market Size & Analysis
7. Application: Market Size & Analysis
8. Geography: Market Size & Analysis
9. Competitive Landscape
10. Vendor Profiles
11. Companies to Watch
For more information about this report visit https://www.researchandmarkets.com/r/x6kkk1
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900