Weightless LPWAN Devices Market Size to Grow at a CAGR of 38.2% During the Forecast Period 2021-2026

(IT-NEWSWIRE.COM, September 21, 2021 ) Weightless LPWAN Devices Market size was valued at $690 million in 2020 and it is estimated to grow at a CAGR of 38.2% during 2021-2026. Growing penetration oflow power consumingconnected devices such as smoke & fire alarms, bridge monitors, smart lighting, asset monitors, PIR cameras, actuatorsand others across various sectors such as residential, commercial and industrialis set to be one of the major drivers for the Weightless LPWAN Devices market. Along with this, Government’s initiative to promote smart city projects, wireless telecommunication and infrastructure investments along with the growing requirement of smart security systems are estimated to proliferate the adoption of LPWAN technology and fuel the market size. Apart from this, a prominent modulation technique, Chirp Spread Spectrum or CSS, used in Weightless LPWAN Devices, are resilient to noise as well as to Doppler effect and can traverse long distances even when operating at very low power, which acts as a considerable factor for the growth of this market. Similarly Direct Sequence Spread Spectrum or DSSS also offers noise resilience allowing improved applications of Weightless LPWAN devices. Furthermore, it also offers robustness along with wide coverage to Ultra Narrowband LPWAN applications, while supporting a massive amount of devices, thus increases the adoption rate of these devices. Hence, the above mentioned factors are set to boost the market growth of LPWAN Device industry in the forecast period.

Weightless LPWAN Devices Market Segment Analysis- By Technology

Weightless LPWAN Devices market is segmented into Unidirectional weightless- N, bidirectional weightless- P, bidirectional weightless-W and others based on technology. Bidirectional Weightless-P technology is anticipated to grow with fastest CAGR of 44.6% during the forecast period 2021-2026. Unlike other technologies such as SigFox, Weightless LPWAN allows the companies to install their own network which can provide better system security by restricting third party intervention, making them perfectly suitable for smart factories, hospitals and others. Apart from this, this technology also provides better radio network connectivity to IoT devices compared to other technologies which is acting as a growth driver for this technology.

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Weightless LPWAN Devices Market Segment Analysis- By End-User industry

By end-user industry, the Weightless LPWAN Devices market is segmented into General Manufacturing, healthcare, transportation & logistics, power generation, oil & gas, utilities (water & wastewater, electricity, gas), agriculture, electronics & semiconductors, mining, food & beverage, automotive and others. Agriculture sector is anticipated to witness significant amount of growth of CAGR of 42.5%; followed by a healthcare LPWAN market with a growth of CAGR 40.9% during the forecast period 2021-2026. With an increasing demand for IoT technologies, connected devices and digital platforms in agricultural sector, the farmers face connectivity issues. LPWAN network has been poised to be more suitable for agriculture sector owing to its cost effectiveness, better connectivity and network coverage. LPWAN is widely used for smart farming applications and precision agriculture. The UN FOOD and Agriculture Organization estimated that by 2050, to meet the demand of rapidly growing world population, food production has torise by 60% and according to the recent studies, precision agriculture using IoT technologies can assist this. LPWAN provides better connectivity to the sensors along with the actuators that gathers the data about soil health, chemical composition, humidity and environment from the nodes of the sensors and actuatorscomposed in Wireless Sensor and Actuator Network protocol. Apart from this, farmers can monitor their farm assets, cattle, control irrigation process and others better with LPWAN network. Furthermore, the growth of healthcare industry is primarily driven by wide adoption of smart monitoring systems and IoT in healthsector. The demand for reliable communication system and requirement for patient’s safetymeasures facilitates the adoption of IoT in this sector, therefore increasing the demand for Weightless LPWAN Devices. In addition, the current Covid-19 pandemic has opened up new growth avenues for LPWAN based health monitoring devices for monitoring patients remotely within healthcare institutions. Thus, these factors ultimately contribute to the market growth.

Weightless LPWAN Devices Market Segment Analysis- By Geography

North America region held the highest market share of 38.5% of global LPWAN device market in 2020, due to the early adoption of advanced technology, growth in advanced IoT infrastructure and increasing penetration of connected devices across industries.Growing investment for smart city projects, increasing investments in deployments, rising demand for smart devices are fueling the market growth. Moreover, APAC region is estimated to witness significant market growth during the forecast period 2021-2026. This growth is driven by the rapid adoption of IoT technologies and growing investments in smart city projects in Asian countries with favorable government support for the adoption of IoT technologies which can stimulate the development of a strong ecosystem. In November 2020, The Government of India invited investors to invest in Indian smart city projects as India is a developing country with numerous growth opportunities. These factors are set to boost the growth of this market during the forecast period.

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Weightless LPWAN Devices Market Drivers

Increasing Investment in Smart City Projects:

The numbers of Smart city projects are expected to grow rapidly because of the increasing public safety issues, rapid urbanization, government’s initiatives, increasing concerns for environment and others. In June 2020, The Singapore Government had announced to increase the investment in smart city projects and information technology by 30%. In April 2021, Mitsubishi Corporation added a new urban transit-oriented mixed use development project, to its smart city program, near Jakarta. Similarly, due to the pandemic, paper bureaucracy dependent Japan is taking initiatives toward its digital transformation, resulting in high investments on smart city projects by the Japanese Government which will work as a key influencer for the digital transformation and economical revival of Japan. Weightless LPWAN Devices can provide long range connectivity with low cost which is basic requirement for smart city projects. LPWAN can provide city wide connectivity over a single platform that stimulates the development for a strong ecosystem. With growing investments in smart city projects across the globe, the demand for Weightless LPWAN Devices is also rising.

Increasing Adoption of Unlicensed LPWAN Technologies:

Due to the rapid adoption of unlicensed LPWAN technologies such as SigFox, LoRa and others, the market for these technologies is growing rapidly compared to the other technologies.Customers with budgetary constraints can opt for unlicensed LPWAN technologies which will be more budget friendly whereas other technologies with licensed spectrum can be expensive. This affects the adoption of unlicensed LPWAN technologies positively and drives the LPWAN device market towards growth.

Weightless LPWAN Devices Market Challenges

Scalability Level:

Although Weightless LPWAN Devices market is growing at a rapid phase, the scalability level of this network is expected to hinder the market growth. The scalability level declines with the increasing number of Weightless LPWAN Devices which as a result leads to poor performance of those devices. There are alternative technologies such as ALOHA which doesn’t have any scalability issues are also analyzed as one of the major challenges for this market.

Weightless LPWAN Devices Market Landscape

Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Weightless LPWAN Devices market. As of 2020, Weightless LPWAN Devices industry outlook is consolidated with the top players including Actility Information Technology and Services, Semtech Corporation, Cisco Systems, Inc., Vodafone Group Plc, Ingenu Inc., Huawei Technologies Co., Ltd., AT&T Inc., STACKFORCE GmbH, NWave Technologies and others.

Acquisitions/Technology Launches

In November 2020, HERE Technologies and global IoT connectivity provider, Actility information technology partnered together to develop and provide a new cutting edge IoT Tracking service based on LoRaWAN technology for location data management andmapping.

In October 2020, Sigfox Germany partnered with Sensoneo to develop an indoor waste bin monitoring and waste collection tool that will have a Sigfox sensor and button technology for identifying full bins. Sensoneo’s cloud based smart waste management system will collect all the data and will provide the optimal solutions such as requests for full bins and calculation for the optimal route.

Key Takeaways

By technology, LoRa is estimated to witness the fastest growth, as this technology allows the organizations to install its own network.

Agriculture sector is analyzed to grow with a significant amount of growth during the forecast period, owing to increasing demand for IoT, connected devices and digital platforms in agricultural sector.

North America dominates this market with highest market share, early adoption of new technologies and growing investments for smart city projects are the key factors contributing towards the market growth 2021-2026.

Increasing investment for smart city projects is a major growth driver for this market.

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A. LoRa and LoRaWAN Devices Market

https://www.industryarc.com/Report/19424/lora-and-lorawan-devices-market.html

B. LPWAN Devices Market

https://www.industryarc.com/Report/19421/lpwan-devices-market.html

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Weightless LPWAN Devices Market Size to Grow at a CAGR of 38.2% During the Forecast Period 2021-2026