The latest research from Omdia (2022) – a global research leader, has revealed that low-power wide-area (LPWA) IoT network connections are expected to grow at a compound annual rate (CAGR) of 23 percent by 2028. The report also forecasts that by 2028, NB-IoT and LoRaWAN will dominate the LPWA IoT connections market, accounting for 87 percent of all LPWA-type IoT connections. While these two technologies currently own 85 percent of global LPWA-IoT connections, the five-year CAGR forecast for the LPWA networking market points to significant growth, suggesting that NB-IoT and LoRaWAN will drive the overall market forward.
The power of two to support massive IoT deployments
Having both NB-IoT and LoRaWAN in its portfolio puts melita.io in a strong position to cater to a wide range of IoT use cases and meet the diverse connectivity needs of its customers. As per Omdia’s forecast, offering both technologies give melita.io a competitive edge in the LPWA market. Additionally, these technologies allow melita.io to offer customers the flexibility to choose the most suitable option for their specific use case, which can be a significant advantage in the highly fragmented IoT market.
LPWA networks offer a cost-effective solution for low-power, low-bandwidth IoT applications. As 2G and 3G networks are phased out, LPWA networks such as NB-IoT and LoRaWAN can provide a viable alternative for IoT devices that require low-cost, low-power connectivity. These networks can support massive deployments of connected devices while consuming minimal battery life, making them ideal for a wide range of IoT applications, including smart city infrastructure, industrial automation, and asset tracking.
Low-cost, low-power IoT connectivity drives growth
LPWA networks like those offered by melita.io provide a way for businesses to deploy large-scale IoT solutions that can connect and communicate with many devices without draining their batteries or consuming large amounts of data. This makes LPWA networks an attractive option for businesses looking to implement IoT solutions that require low-cost, low-power connectivity, such as smart city projects, industrial automation, or environmental monitoring. By leveraging LPWA networks, melita.io can help businesses unlock the potential of IoT and drive exponential growth in IoT adoption in the coming years.
The LoRa Alliance driving industrial evolution
The LoRa Alliance® has been showcasing how LoRaWAN has become the market leader in driving industrial evolution to Industry 5.0 worldwide. Industry 5.0 aims to incorporate the human element, guided by ESG (Environmental, Social, and Governance) initiatives that seek to strengthen sustainability, efficiency, and quality of life. The LoRa Alliance® ecosystem offers end-to-end solutions across the value chain, enabling the holistic digital transformation needed to achieve Industry 5.0’s objectives, encompassing technology, data, new workflows, and operational realignments. Open standards, backed by a strong ecosystem that offers a choice of vendors and endless innovation, are crucial to driving holistic digitisation initiatives for businesses worldwide.
melita.io is technology agnostic and provides Machine to Machine (M2M) and Internet of Things (IoT) connectivity to businesses across Europe, including solutions designed for IoT operations and various connectivity options.
Get in touch with melita.io today to find out how our IoT solutions can help your business unlock its full potential.
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