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The global Low Power Wide Area Network (LPWAN) market accounted for US$ 986.0 Mn in 2017 and is expected to grow at a CAGR of 53.2% during the forecast period 2018 – 2025, to account for US$ 28746.5 Mn in 2025.
The explosive growth in penetration of IoT devices over the past few years has escalated the demand for Low Power Wide Area Network technology deployments. This is major because these modern technologies were cost-efficient, optimized data transmission, and scalable cellular coverage. As a result, Low Power Wide Area Network (LPWAN) is fast-emerging as a game-changer in IoT development, addressing the majority of challenges of the cellular network that included gaps in coverage and high power.
Most of the Low Power Wide Area Network technologies offers low cost of ownership in comparison to the traditional cellular networks. Further, they borrow themselves to be used as public as well as private network deployments. The low-cost of ownership allows more interruption by enabling emerging players to undertake the role of network operators and by adopting the development of new business model groups along the value chain.
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Some of The Leading Players in Global Market:
1. Nwave Technologies
3. Semtech Corporation
5. Link Labs, Inc.
7. Ingenu Inc.
9. Weightless SIG
10. Senet, Inc.
The Low Power Wide Area Network received significant traction during the initial years of IoT industry, this traction was primarily due to the long battery life that was offered by Low Power Wide Area Network. Another factor that is also driving the Low Power Wide Area Network market during the forthcoming years is the relatively low cost of deployment, long-range broadcasting capabilities and usage of unlicensed spectrum (a spectrum that is available of free). The low cost of deployment of the Low Power Wide Area Network is because of its increased use of the unlicensed spectrum of 1GHz frequency or less, this in-turn eliminates the sizeable amount of fees. Further, due to low data consumption, the Low Power Wide Area Network technology consumes low power, resulting in long-lasting battery life to IoT devices, which leads to plummeted operational expenses.
Several IoT applications in the coming years are expected to increase their demand for real-time communication such as smart grid, manufacturing, healthcare, data center energy management. Such applications would require very low latency and very high reliability. Majority of the Low Power Wide Area Network currently, is designed to support applications with flexible requirements. In addition, the Low Power Wide Area Network operating in the sub-GHz band would be required to duty cycle at 0.1 or 1% which would make real-time communication extremely challenging. In the coming years as the research regarding Low Power Wide Area Network increase their focus regarding the discovery of methods to enable real-time communication in Low Power Wide Area Network, the Low Power Wide Area Network market players would attain the better opportunity to grow in novel applications during the forecast period.
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