Low Power Wi-Fi Conversion Market Size & Share, by Type (Cellular: NB IoT, LTE M/ CAT M1, Non- Cellular: LoRa, SigFox, Weightless); Range (Less Than 2km, 2-10km, More Than 10 km) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 3215
  • Published Date: Jan 03, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Low Power Wi-Fi Conversion Market size is expected to cross USD 219.96 Billion by the end of 2036, growing at a CAGR of 52% during the forecast period, i.e., 2024- 2036. In the year 2023, the industry size of low power wifi conversion was over USD 21 Billion. The market is experiencing significant growth owing to the increasing adoption of Internet of Things (IoT) applications across various industry verticals. IoT devices are generating a large amount of data that needs to be transmitted over Wi-Fi networks, leading to a demand for energy-efficient solutions to reduce the energy consumption of these networks. Additionally, the extended life of battery-operated products is becoming increasingly important as the demand for portable devices continues to rise. All these factors have contributed to the growth of the market, and this trend is expected to continue in the foreseeable future. It is anticipated that there will be over 13 billion machine-to-machine (M2M) connections by the end of 2023. The estimated amount of data gathered from IoT devices by 2025 is 79 ZB.

Further, the low power Wi-Fi conversion market is expected to experience growth in the near future due to technological advancements in the information and communication technology (ICT) sector in both developed and developing countries. In addition, low-power Wi-Fi conversion technology is projected to offer growth opportunities by providing an operating range of over 10km in rural areas, while also minimizing costs.


Low Power Wi-Fi Conversion Market
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Low Power Wi-Fi Conversion Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Industrial Application- Industries such as manufacturing, agriculture, and logistics benefit from low-power Wi-Fi for efficient monitoring and control systems. 5G technology has the potential to bring about the next Industrial Revolution in the manufacturing sector. Smart factories supported by 5G could add between USD 1.5 to USD 2.2 trillion to the global economy annually by 2023. 5G can automate manual processes and improve production efficiency by powering mobile devices and robotics.
  • Smart Home Technology- Growth in smart home applications, such as connected and home automation, fuels the demand for low-power Wi-Fi devices. Smart home products have been gaining popularity in developed countries, with 5-15% of households adopting these advanced systems. These products use IoT devices and AI technology to automate various tasks, such as controlling lighting and temperature, security systems, and entertainment. The early phase of adoption indicates a growing trend among homeowners to invest in smart technology, thus propelling the low power Wi-Fi conversion market growth. With the added convenience and energy efficiency benefits, it's no surprise that more people are making the switch to smart home products.
  • Rising Battery Efficiency- As we become increasingly dependent on our mobile devices, the need for extended battery life has become paramount. This has led to a surge in demand for low-power Wi-Fi solutions that can help conserve battery life. With the increasing popularity of smart homes and the Internet of things (IoT), the demand for such solutions is expected to rise further. As a result, there is a growing need for developers to come up with innovative solutions that can address this challenge and provide users with a seamless and uninterrupted experience.

Challenges

  • Interference and Range Limitations- Low-power Wi-Fi operates in unlicensed spectrum bands, leading to potential interference issues and limited range due to lower transmission power. This can affect connectivity and reliability, especially in crowded environments or over longer distances.
  • Developing low-power Wi-Fi solutions with advanced features at an affordable price point can be challenging.
  • The lack of uniformity can hinder seamless integration and widespread adoption.

Low Power Wi-Fi Conversion Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 52%

Base Year Market Size (2023)

~ USD 21 Billion

Forecast Year Market Size (2036)

~ USD 219.96 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Low Power Wi-Fi Conversion Segmentation

Type (Cellular: NB IoT, LTE M/ CAT M1, Non- Cellular: LoRa, SigFox, Weightless)

The cellular segment is anticipated to hold 54% share of the global low power Wi-Fi conversion market during the forecast period. The growth of this segment can be attributed to the widespread adoption of smartphone infrastructure across the world. In addition, these networks can operate at very high bitrates, up to 125 kb/s, which is another factor expected to drive growth in this market segment in the near future. Moreover, the segment for LTE M/CAT M1 is projected to gather the largest share in this segment over the forecast period due to the increasing installation and high data bandwidth of these networks.

Range (Less Than 2km, 2-10km, More Than 10 km)

Low power Wi-Fi conversion market from the more than 10 km segment is assessed to witness the majority revenue share, due to witnessing a tremendous surge in data traffic, resulting in approximately 5 billion people accessing the internet, which is 63% of the world's total population. The number of internet users is growing globally at an annual rate of 3.7 percent, with developing economies experiencing even higher year-on-year growth. Access to the internet has become a necessity for people around the world, and the continuous growth in internet users is a testament to its importance in today's digital age. All these factors are culminately propelling the market’s growth.

Our in-depth analysis of the global low power Wi-Fi conversion market includes the following segments:

     Type

  • Cellular:
    • NB IoT
    • LTE M/ CAT M1
  •  Non- Cellular:
    •  LoRa
    •  SigFox,
    • Weightless

     Range

  • Less Than 2km
  •  2-10km
  • More Than 10 km

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Low Power Wi-Fi Conversion Industry - Regional Synopsis

North American Market Forecast

North America low power Wi-Fi conversion market is expected to garner the largest revenue share during the forecast period amounting to 42%. The region has experienced a surge in digitalization initiatives, which can be attributed to the government's efforts to promote technological advancement. Additionally, the region boasts a strong presence of major market players, which has further accelerated the pace of digital innovation. This has resulted in a transformation of the region's economic landscape, with businesses and individuals alike embracing digital solutions for their day-to-day operations.

APAC Market Statistics

Asia Pacific low power Wi-Fi conversion market is estimated to witness noteworthy growth, Due to the increasing prominence of small and medium-sized enterprises and the growing penetration of the internet and smart devices, the market for these businesses is on the rise. For example, in 2020, there were over 69 million small and medium-sized organizations operating in Southeast Asia, accounting for about 98% of the total businesses in the region. Furthermore, the improvement in mobile and broadband infrastructure is also expected to boost the market growth in the region.

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Low Power Wi-Fi Conversion Market Size
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Companies Dominating the Low Power Wi-Fi Conversion Market

top-features-companies
    •  RAKwireless Technology Limited
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Astrocast
    • Actility SA
    • Senet, Inc.
    • Acklio
    • STACKFORCE GmbH
    • Kiwi Technology Inc.
    • ZiFiSense
    • OrbiWise
    • MoecoIoT, Inc.

In the News

  • AT&T announced that it would spearhead the implementation of open radio access networks (Open RANs) on a commercial scale in the US. Together with Ericsson, this ground-breaking action will advance industry efforts in the telecommunications sector and contribute to the development of a stronger network infrastructure supplier and provider ecosystem. During the five years of the Ericsson contract, AT&T may spend close to $14 billion.
  • An agreement was made by UnaBiz and ZiFiSense to advance the creation of a unified LPWAN world to facilitate massive IoT. According to the deal, UnaBiz and ZiFiSense will make use of their respective networks—UnaBiz's worldwide 0G network spans more than 70 countries, while ZETA's network covers China—to enable partners and clients to expand their businesses internationally. To connect various industries and incorporate LPWAN technology standards, the two businesses will work together on both technical and business fronts.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 3215
  • Published Date: Jan 03, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing adoption of IoT applications, increasing smart home applications, and rising battery efficiency are driving the growth of the low-power Wi-Fi conversion market.

The market size of low power Wi-Fi conversion is anticipated to attain a CAGR of 52% over the forecast period, i.e., 2024-2036.

The major players in the market are Astrocast, Actility SA, Senet, Inc., Acklio, STACKFORCE GmbH, Kiwi Technology Inc., ZiFiSense, OrbiWise, MoecoIoT, Inc., SoftBank Corp., and others.

The Cellular segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Low Power Wi-Fi Conversion Market Report Scope
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