Market Trends of Low-Power WAN Industry
5G Technology to Drive the Market Growth
- The following generation of mobile networking technologies, or 5G, is equipped to deliver an enhanced end-user experience with seamless coverage, high data speeds, reduced latency, superior performance, and effective communications.
- One of many areas that 5G connection will affect is the world of cell phones. For example, the poor download speeds and high latency of 4G have long been a barrier to infrastructure developments in the Internet of Things (IoT) and machine-to-machine (M2M). As more devices are linked to a network and conversing with one another, the cumulative effect of any latency will become more substantial and perceptible.
- Because of its advanced research and development from the local supply chain, early and significant backing from the domestic government in infrastructure capacities, and consumers' interest in future technologies inside and outside the vehicle, China is expected to lead the early deployment of 5G-capable vehicles. The adoption process is made much more straightforward because these cars will only be sold in China's sizable domestic market, where 5G infrastructure and standards are likely to be uniformly applied.
- In addition, 5G will significantly enhance smart city services for public safety. Real-time analytics of video recordings from public locations paired with biometric software would be able to recognize risky situations and automatically alert authorities quickly in cases like a car accident or terrorist strike. Data management platforms will connect various services, and 5G-enabled equipment will be able to get more updates wirelessly, unlike present CCTV systems.
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North America Expected to Occupy a Major Share
- With the rise of smart cities and the Industrial Internet of Things, North America has a significant concentration of this developing IoT technology. These are some of the leading causes behind the expansion of LPWAN in the area.
- The region has seen a lot of progress toward the expansion of smart cities. These are anticipated to boost LPWAN usage in the area even further.
- Additionally, due to an increased need for better fleet management solutions, digital or smart infrastructure development across airports, shopping centers, and other industries is anticipated to fuel market expansion throughout the region during the projection period.
- The rising application fields for LPWAN, such as smart meters, home energy management, building automation, and security lighting, are significant drivers of demand growth. LPWANs are a technology that offers a practical solution and ensures that data is transmitted over unlicensed spectrum bands like the sub-1 GHz or sub-3 GHz range, which anyone can use to develop their network. This is important because there are growing concerns about the security of Internet of Things (IoT) devices and the need for encrypted communication channels around the area.
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