Published Date: 2022-03-29
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European LPWAN Market size is expected to surpass USD 15 billion by 2027, according to a latest forecast report by Graphical Research.
The growing Europe market for transforming the digital infrastructure of businesses has increased the demand for robust enterprise networks. Moreover, improvements in living standards along with the adoption of smart cities across the region are significantly supporting the market growth. With digital transformation, cities are focusing on building smart infrastructure to enable better living conditions. LPWAN technology is digitally & smartly connecting different infrastructures across cities to address the issues of traffic congestion, parking, and environmental hazards.
The professional services segment held over 65% market share in 2020 due to the growing demand for secure network services. With an increase in the number of network devices and applications, many organizations are finding it difficult to deploy LPWAN technology-based IoT solutions. Professional service providers help in smoothly launching LPWAN technology with reduced impact on existing cellular networks. The demand for professional services is expected to increase over the forecast timeline as these services help organizations in LPWAN planning & optimization.
The cloud model segment will witness over 70% CAGR during the forecast period attributed to the growing adoption of remote working environments, which eliminates the need for organizations to invest & maintain their on-premise IT resources and enables scalability to meet user demands. The devices are equipped with various LPWAN technologies to support diverse requirements. This increases complexities in managing multimodal LPWANs and designing IoT applications.
The asset tracking segment will expand at a CAGR of 60% through 2027. The demand for LPWAN technologies in real-time asset tracking and IoT applications will increase as they offer high connectivity between remote assets and provide increased asset visibility. Moreover, the growing use of cellular LPWA networks running on LTE-M & NB-IoT technologies is creating ample opportunities for the market demand.
Browse detailed statistical insights from the report, “Europe Low Power Wide Area Network (LPWAN) Market Forecast 2027 By Application (Smart Gas & Water Metering, Asset Tracking, Smart Buildings, Smart Parking, Precision Agriculture, Smart Waste Management, Livestock Monitoring), By Component (Platform [Narrowband IoT {NB-IoT}, Long Term Evolution for Machines {LTE-M}, LoRaWAN, Sigfox, Weightless], Services [Professional Service, Managed Service]), By Deployment Model (On-premise, Cloud), By End Use (Healthcare, Agriculture, Logistics & Transportation, Manufacturing, Utilities, Consumer Electronics, Government & Public Sector), Research Report, Country Outlook (UK, Germany, France, Italy, Spain, Sweden, Netherlands), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/2084/europe-low-power-wide-area-network-market
The utilities end-user segment accounted more than 15% market share in 2020 credited to the increasing adoption of advanced technologies, such as cloud computing and IoT, across energy and utility sectors. The growing use of IoT platforms has also increased the demand for reliable cellular networks that can provide wide coverage and greater ROI. Energy companies are extensively implementing IoT-enabled devices to gather data and bring unprecedented insights into process performances.
The UK LPWAN market will reach USD 3 billion revenue by 2027 on account of rising number of IoT connections in various industry verticals. The Internet of Things (IoT) is expanding across the UK owing to day-to-day technological benefits. Uncertain return on investments and integrations with existing technologies hinder the growth of IoT technologies. Telecom operators in the country maintain, operate, and launch LPWAN networks to facilitate data transmissions, voice, texts, and videos by using wireless telecommunications infrastructure. For instance, in December 2020, Connexin launched LoRaWAN networks around the world, thereby helping it deliver carrier-grade connectivity across the UK over its Long-Range Wide Area Network (LoRaWAN)
The Europe LPWAN market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027 for the following segments:
Europe Market, By Component
Europe Market, By Deployment Model
Europe Market, By Application
Europe Market, By End Use
The above information has been provided for the following countries:
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