Global LPWAN Market to Cross $80 Bn by 2027

Europe LPWAN market is forecast to capture more than a 20% share in 2027 on account of the increasing adoption of smart cities and government support for digital transformation & smart manufacturing.
Global Market Insights, Inc. has recently added a new report on the low power wide area network (LPWAN) market, which estimates the market valuation for LPWAN will cross US $80 billion by 2027.
The growing popularity of dedicated M2M communication networks, such as NB-IoT and LTE-M, is expected to contribute significantly to the market growth.

Low Power Wide Area Network (LPWAN) Market size is set to surpass USD 80 billion by 2027, according to a new research report by Global Market Insights, Inc.
The growing demand for robust connectivity and consistent data transmission in a business or industrial environment is expected to support the LPWAN market demand . The LPWAN technology helps enterprises to provide large-scale wireless connectivity through a limited number of gateways. It significantly minimizes the capital and operational expenditures, enabling business efficiencies. LPWAN technologies provide long-range connectivity to IoT devices and reduce their power consumption. The growing demand for low-cost and long-range connectivity technology solutions & services is further anticipated to fuel the market revenue.
The SigFox segment is projected to grow at a 40% CAGR from 2021 to 2027. The SigFox wireless interface enables the communication between remote devices, allowing them to consume less power to operate for an extended period. The technology enables transmission for applications where a wide area coverage is required such as smart metering, fleet management, and home & consumer goods. It supports one-way communication and low-density data transmission.
The on-premise deployment segment is estimated to expand at more than a 50% CAGR through 2027. Major corporates prefer on-premise deployment of LPWAN platforms to build and manage their LPWAN for IoT-based applications. They can manage the whole network elements including LORA gateways and network servers. By deploying a LoRaWAN private network, organizations gain complete control of transmitted data to ensure data security.
The demand for LPWAN technology solutions & services for smart parking applications is anticipated to increase significantly. Smart parking powered by LPWAN technologies, such as LTE-M and NB-IoT, enables cities to better manage their parking assets. The technology, particularly NB-IoT, is gaining immense momentum in smart parking applications, as it supports long-battery life and provides a wide area coverage, enabling sensors to be placed in any location. Additionally, several enterprises are developing smart parking sensor nodes to cater to diverse parking requirements.
The consumer electronics application is likely to witness around 10% of the LPWAN market share by...