The global low power wide area network market is projected to witness a rapid growth during the forecast period owing to increasing emergence of connected devices and increasing benefits of the internet of things. Moreover, increasing demand for low power wide area network across various industry verticals such as agriculture, smart logistics and transportation, healthcare, industrial manufacturing, oil and gas and consumer electronics is driving the growth of the global market.
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The global low power wide area network market by geography is segmented into North America, Europe, Asia Pacific, and Rest of the World. The Europe market is expected to witness a significant growth and hold the largest share of the global market during the forecast period. The growth in Europe is attributed to the presence of large number of established key players such as AT&T Inc. and Telefonica SA in this region. Due to the sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future. Additionally, Europe also has a well-established infrastructure, which allows higher penetration of devices and ultimately provides better connectivity. The growth in the market is also attributed to increasing focus of business organizations towards implementation of low power consumption technologies and growing adoption of IoT/M2M applications across various industry verticals.
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CRM helps in enhancing the implementation of a digital marketing strategy. In the global Low Power Wide Area Network market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the growing focus on customer engagement and increasing implementation of cloud based technologies across different countries in the region.
The global Low Power Wide Area Network Industry Is Projected To Reach USD 75 Billion at a CAGR of over 89% by the end of the forecast period 2017-2023.
The global low power wide area network market is segmented on the basis of the connectivity technology, service, network deployment, application and vertical. The network deployment segment is classified private sector and public sector. However, the private sector sub segment is expected to occupy a larger share of the market whereas, the public sector sub segment is expected to grow at a higher CAGR during the forecast period. This is owing to the increasing smart city initiatives and growing need to improve citywide services like parking, streetlights, water meters and many others.
Europe is estimated to account for the largest share of the market, whereas Asia Pacific market is projected to grow at the fastest rate during the forecast period. The Europe market is witnessing a rapid growth due to technological advancements and increasing demand for low power consumption solutions across different industry verticals in this region.
Some of the prominent players in the global low power wide area network market: Semtech Corporation (U.S.), LORIOT (Switzerland), NWave Technologies (London), SIGFOX (France), WAVIoT (U.S.), Cisco Systems (U.S.), Actility (France), Weightless SIG (U.K), Senet, Inc. (U.S.), AT&T Inc. (Germany), Huawei Technologies Co. Ltd. (China), Ingenu (U.S.), Link Labs Inc. (U.S.), Qualcomm Inc. (U.S.), Telefonica SA (Spain) and Vodafone Group Plc. (U.K).