Low-Power Wide-Area Network (LPWAN) is a wireless network technology designed to allow long-range communications at a low bit rate among objects. The technology was specifically designed for the needs of M2M communication and the Internet of Things.
Today LPWAN technology is quite often used: from smart home counters and garbage collection management to more complex industry and agriculture solutions. It could successfully be utilized in GPS monitoring: conventional SIM-cards in a GPS-tracker can be replaced with LPWAN-module.
The most demanded features include real-time locating, tracking history, security features (shake detection, virtual geofence, alert button), and conditions monitoring (temperature, humidity). LPWAN transmits small amounts of data over a long distance of up to 10-15 kilometers while consuming little energy. This is a perfect environment for asset GPS tracking. Moreover, the data transmission cost will be lower.
According to Markets and Markets, the IoT Connectivity market is expected to grow from USD 3.8 billion in 2019 to USD 8.9 billion by 2024, demonstrating a CAGR of 18.7% during the forecast period.
Recent estimations reported by the ABI Research demonstrate that more than 80% of OEMs in the asset tracking space have adopted or are releasing solutions utilizing cellular LPWAN connectivity.
According to the ABI Research, the number of connections on cellular LPWA IoT networks will overtake the number on proprietary LPWA IoT networks after 2023. However, ABI Research recently forecasts a 18% decrease in the new Internet of Things devices deployed for all of 2020 due to COVID-19.