Rising deployment of LPWAN technologies to facilitate low power communication with extended battery life will drive LPWAN market outlook
Ocean View, DE -- (SBWIRE) -- 05/21/2020 -- Rising deployment of LPWAN technologies to facilitate low power communication with extended battery life will drive LPWAN 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 market growth.
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Ongoing deployment of the data optimized 5G network will be a prime factor impelling growth trends over the LPWAN market. 5G technology encompasses the capability of bringing revolutionary change in the market by supporting several mobile IoT use cases. Major telecom players such as Airtel, Vodafone and orange have been deploying licensed cellular LPWAN to provide a cost-effective wide area coverage as part their 5G strategies.
Key Companies in LPWAN market: - Actility, AT&T Inc., Avnet, Inc., Cisco Systems, Inc., CONNIT, Huawei Technologies Co. Ltd., Ingenu Inc.., Kerlink, Link labs, LORIOT.IO, Nwave, Orange Business Services, Qualcomm Technologies, Inc., Semtech Corporation, Senet, Inc., Sierra Wireless, Sigfox, Verizon Communications Inc., Vodafone Group Plc, WavIoT,
Increasing penetration of industrial IoT (IIoT) will have a positive effect on LPWAN 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.
The could deployment model is anticipated the dominate the LPWAN market throughout the forecast timeframe. The segmental growth is attributed to increasing demand for quick IoT network deployment among the end-users. The organizations prefer cloud platforms over the on-premise counterpart owing to the reduced deployment timeline and ease of managing cloud-enabled LPWAN servers & gateways. LPWAN market from the cloud-deployment model is predicted to grow at a CAGR of over 68% through 2025.
The smart gas & water metering application is anticipated to account for a substantial share of near about 20% in the LPWAN market through 2025. Considering the vast spread of gas and water networks, the traditional technologies such as GPRS and ZigBee lack the long-range network coverage requirements, thereby posing a challenge for the deployment of advanced metering infrastructure.
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Long distance network coverage provided by LPWAN technologies helps address these connectivity challenges and provides secure communication with excellent range enabling remote monitoring of usage without the need for recurring costly site visits.
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