
Low power wide area network facilitates long-range communication at a low bit rate and is the current technology option for establishing IoT networks worldwide. This wireless technology is usually incorporated into the manufacturing equipment, cars, street lights, home appliances, and wearable devices. Low power wide area network provides a very compelling collection of long-range, less power consumption, and safe data transmission, increasing the demand for this technology. Additionally, with the emergence of cloud-based technologies, the market has increased for the financial analytics system. Cloud-driven technologies favor stable data management and generate result-oriented production. However, these programs enhance the efficiency of the business by improving the details in real-time. Few factors, including increased data traffic and dearth of governance in the low power wide area network technology, are likely to hamper the low power wide area network market growth. The Low Power Wide Area Network Market is predicted to grow at 12.6% CAGR by 2026.
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Low Power Wide Area Network Market based on Connectivity Technology
- LoRaWAN
- Weightless
- Sigfox
- NB-IoT
- Wi-SUN
Low Power Wide Area Network Market based on Deployment Model
- On-premise
- Cloud
Low Power Wide Area Network Market based on Application
- Smart Waste Management
- Smart Buildings
- Smart Gas and Water Metering
- Smart Streetlights
- Smart Parking
- Livestock Monitoring
- Others
Low Power Wide Area Network Market based on Geography
- North America
- Europe
- Asia Pacific
- Rest of World
Based on connectivity technology, the NB-IoT or narrowband internet of things technology segment is projected to witness the highest market share in the forecast period. The IoT network's rising ecosystem will generate demand for networks that will offer access to IoT devices that require low latency and low data transmission speeds, such as smart water meters. Moreover, NB-IoT technology increases the power efficiency of these instruments and meets the challenging specifications for coverage.
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