Published Date: 2022-03-29
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North American LPWAN Market size is anticipated to cross USD 35 Billion by 2027, according to a latest forecast report by Graphical Research.
The market growth is attributed to the growing investments in the adoption of advanced wireless connections. The government authorities in the region are emphasizing on the investment in telecom industry for accelerating digitalization across the region. For instance, in August 2021, the Government of Canada invested USD 44 billion to drive the country’s economic growth and facilitate affordable broadband internet & 5G connectivity for all Canadians. The investment was led by Telesat, an innovative satellite operator. Through this investment, the company provided advanced & high-speed internet connectivity in the country. Moreover, the demand for smart buildings, smart parking management systems, and precision farming is also significantly contributing to the market growth.
The professional services segment held over 65% market share in 2020 due to the growing need for technical assistance. Professional service experts provide hands-on technical assistance to keep their customers’ mission-critical systems running. Professional service helps business enterprises in reducing costs, providing better expertise, improving customer experiences, and smoothening business operations, among others.
The cloud deployment model segment will grow at 65% CAGR during the forecast period owing to the growing adoption of cloud computing technologies. Through the cloud-based deployment model, organizations can deploy & manage their LPWAN in a cost-effective manner. For instance, WAVIoT provides solutions including cloud platforms for network management, data monitoring, and billing, which can be accessed from any device connected to the internet
The asset tracking segment accounted around 15% market share in 2020 credited to the growing adoption of NB-IoT technologies. These next-generation technologies help in managing a wide range of mobile & fixed assets in different environmental conditions and minimizing dependencies on smartphones, Wi-Fi gateways, and telematics devices. LPWAN technologies provide users with insights about their asset locations.
Browse detailed statistical insights from the report, “North America Low Power Wide Area Network (LPWAN) Market Forecast 2027 By Deployment Model (On-premise, Cloud), By Component (Platform [Narrowband IoT {NB-IoT}, Long Term Evolution for Machines {LTE-M}, LoRaWAN, Sigfox, Weightless], Services [Professional Service, Managed Service]), By Application (Smart Gas & Water Metering, Asset Tracking, Smart Buildings, Smart Parking, Precision Agriculture, Smart Waste Management, Livestock Monitoring), By End Use (Healthcare, Agriculture, Logistics & Transportation, Manufacturing, Utilities, Consumer Electronics, Government & Public Sector), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The utilities segment will exhibit a CAGR of 55% through 2027. LPWAN technologies act as viable solutions that can be used to improve communications among machines, drive high performances, and increase operational efficiencies. This integrated technology enables energy companies to optimize operations and provide actionable insights to identify critical information. Various companies across the region are extensively working on implementing IoT platforms in the gas and utility industry.
Canada LPWAN industry to exceed USD 10 billion revenue by 2027, due to increasing government investments in accelerating digitalization across the country. Moreover, the increasing adoption of smart cities is driving the market for LPWAN technology in Canada. A smart city consists of integrated smart buildings, parking systems, traffic control, and transportation, thereby increasing the demand for IoT devices that allow data transfers over a long range with low power consumption.
The North American 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:
North America Market, By Component
North America Market, By Deployment Model
North America Market, By Application
North America Market, By End Use
The above information has been provided for the following countries:
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