Low Power IoT is an ecosystem that consists of a microcontroller (MCU), wireless interface, sensor, and system power management. The low power IoT devices use low-bandwidth, consume less battery-powered at a lower cost with greater power efficiency than traditional networks. Low Power IoT network designed for sending small payloads such as information from sensors, alerts and status updates, etc. Low Power IoT is extensive use for a remote location to preserve battery life and to connect various devices at the same time.
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The key factor driving the market growth are growing Industrial IoT (IIoT) penetration across different industries and increasing the number of connected devices worldwide has increased the demand for low-power IoT. In addition, owing to features such as low cost, wide range, and data security, low bandwidth uses to transfer data couples with lower power consumption are boosting the market growth of low power IoT. Increase in a web-based application, government funding for the secure and centrally connected network, and the growing number of enterprises increases the demand for low power enabled the connected devices, which is also the factor propelling the market growth.
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Various notable players in the market, Arkessa, Emnify, Ingenu, Sierra Wireless, Sigfox, Semtech, Cisco Jasper, AT&T, Huawei, u-blox, and among others. Major players are focussing on product launch, acquisition, collaboration to expand their global reach and become a market competitive.
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The global Low Power IoT Service market has been segmented based on technology, application, and key geographies. Based on the technology, the global Low Power IoT Service market has been segmented into NB-IoT, LoRa, LTE-M, and Others. Based on application, the market is segmented into Agriculture, Digital Health & Remote Health Monitoring, Smart Cities, Smart Home, Smart Metering, Industrial & Commercial BEMS (Building Energy Management Solutions.
Key questions answered in this research report:
At what pace is the global Low Power IoT Service market growing? What will be a growth trend in the future?
What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Low Power IoT Service market?
What are the various application areas and how they are poised to grow?
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