Low-Power WAN Market Size (2024 - 2029)

Low-Power WAN Market Analysis

The Low-Power WAN Market size is estimated at USD 32.01 billion in 2024, and is expected to reach USD 260.13 billion by 2029, at a CAGR of 52.05% during the forecast period (2024-2029).

• A low-power WAN (LPWAN) is a wireless wide-area network that connects low-bandwidth, battery-operated devices over vast distances at low bit rates. As the demand for low-power, wide-area connectivity in Internet of Things (IoT) applications continues to rise, the market is expected to grow during the forecast period.
• Given the mission-critical nature of industrial applications, the Industrial Internet of Things (IIoT) demands carrier-grade communication network reliability. High message ingestion rates are crucial, ensuring vital data is available for timely responses to potential issues. IoT sensors, spanning industries from asset tracking and human presence detection to air quality monitoring and leak detection, gather vast amounts of business-critical data. This data enhances operational visibility and efficiency and reduces cost, fueling market growth.
• In agriculture, these capabilities can double productivity and assist in monitoring crop development. LPWAN's ability to transmit small data volumes over long distances is expected to bolster market growth. Key applications of LPWAN include fleet management, GPS tracking, smart meters, smart grid management, home automation, waste management, process monitoring, and temperature oversight.
• However, future coverage and scalability challenges, technological coexistence, and real-time communication could impede LPWAN's widespread adoption and commercialization. Moreover, network security concerns arise, especially since it is deemed less reliable than direct data transmission to endpoints and may be susceptible to interference.
• Despite these challenges, LPWAN devices find global applications in sectors like industrial IoT, smart cities, smart homes, and utilities. Yet, vulnerabilities persist: root keys for encrypting communications between gateways, smart devices, and network servers can be targets for cyber-attacks. Such breaches can lead to DDoS attacks, data leakage, and false data injection, disrupting systems and hindering market growth. The FBI has warned about unpatched and outdated devices, highlighting the growing threat of cybercriminals exploiting vulnerabilities in internet-connected devices.

Low-Power WAN Industry Segmentation

A low-power wide-area network (LPWAN) is a particular network that enables long-range communication at a low bit rate. LPWAN overcomes the technological choice for constructing IoT networks globally. This wireless technology can be integrated into streetlights, cars, manufacturing equipment, home appliances, and wearable devices. LPWAN offers a plausible mix of long-range, low power consumption, and secure data transmission.

The low-power WAN market is segmented by type (NB-IoT, LoRaWan, and LTE-M), service (professional service and managed service), end user (oil and gas, consumer electronics, healthcare, industrial manufacturing, and logistics and traveling), application (smart meters, smart buildings, smart logistics, and smart agriculture), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.