Agriculture and Infrastructure to expect major boost from LPWAN Market by 2022
Infoholic Research LLP, a global ICT market research and consulting organization, recently published a study titled “LPWAN Market- Global Trends & Forecast – 2016-2022”. Infoholic Research forecasts that the LPWAN market will have a positive impact on telecom industry and the increase in private spending on solutions will reduce the transmission cost and improve the services (2016-2022). The research predicts that LPWAN market is expected to grow at CAGR of 93.01% for the period of 2016-2022.”
“LPWAN technology has huge potential in developing regions especially in China, Singapore, and India. Due to the upcoming Smart cities projects in these countries, it will become important for organizations to adopt LPWAN technology and applications to improve the transmission of information and derive the real-time information” said Preeti Wadhwani, Senior Research Analyst.
Going with the robust CAGR of 93.01% it is evident that LPWAN solutions to witness major gain across regions. Most of the world’s regions are facing a formidable challenge to manage the rapidly increasing cost of data transmission and sending the data to long ranges. There has been the emergence of LPWAN services that will improve the data delivery both for rural and urban areas.
“Key building blocks of IoT & M2M such as secure end-to-end communication, mobility, and service localization will be streamlined by LPWAN. Also, by utilizing LoRa protocol (LoRaWAN), LPWAN is set to provide the required push to enable IoT, smart city and major industrial applications such as infrastructure, agriculture, and logistics” said Tariq Shaik, from Research Operations of Infoholic Research.
The LPWAN market is divided into types, technologies, networks, end-user and geographically. The types segment is again analyzed by devices and services segment. The device segment is further segmented into module shipments of LPWAN and the ASP of the module. The network segmentation is segmented into private and public networks in which private have the major share. The technologies segment includes the analysis of top five technologies present in the LPWAN market. The end-user segment is divided into agriculture, consumer, utilities, logistics, infrastructure and others.
The LPWAN market is split up into Americas, Western Europe, Asia-Pacific, Eastern Europe, and the Middle East & Africa (MEA). Western Europe has the largest share of the market as the countries present there were the early adopters of these information systems. Asia-Pacific has the second largest share and has the high growth creating more opportunities for the vendors. The regions are further analyzed by countries in the region which influences major spending on LPWAN in the particular region.