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IoT Analytics, a leading provider of market insights & competitive intelligence for the Internet of Things (IoT), M2M, and Industry 4.0, today published a comprehensive 260-page market report titled LPWAN Market Report 2018-2023.
As active global IoT connections grow from 7B in 2018 to 22B in 2025, Low Power Wide Area Networks (LPWAN) are expected to be a key growth driver. These technologies provide low-power, low data-rate communication over long distances or from deep indoor environments, enabling battery-operated devices to operate for up to 10 years without any human intervention. World-wide public network roll-outs and private network deployments of this relatively new technology are currently proceeding quickly. This momentum is driving strong growth in adoption as the number of connected devices is forecasted to grow at 109% per year until 2023, reaching more than one billion active connections. While the market fragmentation remains high, NB-IoT, LoRa and Sigfox are emerging as the most popular LPWAN technologies both in terms of end-user adoption as well as ecosystem support, with the first two forecasted to be the dominant technologies over the forecasted period in public network and private network deployments respectively.
LPWAN Market Report 2018-2023
The LPWAN report forecasts a compound annual growth rate (CAGR) for LPWAN connections of 109%over the time frame of 2017-2023, with annual spending for connectivity surpassing US$4.7 Billion by 2023.
These numbers are based on the analysis of world-wide LPWAN network roll-outs and state of adoption across 9 industry segments(Agriculture & Forestry, Buildings & Infrastructure, Healthcare, Home & Consumer, Industrial, Retail, Smart Cities, Transportation, Supply Chain & Logistics, and Utilities). The market is broken down into 5 technologies (Sigfox, LoRa, NB-IoT, LTE-M, Others), 5 regions (Asia Pacific, Europe, North America, Middle East and Africa, Latin America), 2 spectrum types (Unlicensed and licensed), 2 network deployment types (public networks, private networks), and 2 revenue types (IoT modules and connectivity data plans).
In developing the 260-page report, the analyst team at IoT Analytics studied over 25 communication technologies that offer a combination of low-cost, low-power, long-range communication for large numbers of devices, and looked into more than 150 companies either offering network access and/or services or developing products or solutions based on these technologies. Further input to the report included 40+ industry interviews and numerous expert discussions at 10+ leading IoT conferences.
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