NB-IoT and LoRaWAN to drive LPWAN connections beyond 3.5 billion by 2030 – Omdia

Omdia's latest research has found that the Low Power Wide Area Network (LPWAN) IoT connections landscape is overwhelmingly dominated by NB-IoT and LoRa, which together accounted for 87% of total connections in 2023. This dominance is set to continue, with these two technologies projected to maintain 86% of all LPWAN connections by 2030. While NB-IoT's significant growth is driven by its popularity in China, LoRaWAN leads in most other regions. Both technologies are ideally suited for the mid-range IoT applications currently in demand, ensuring their sustained leadership in the LPWAN market. LoRa is expected to remain the preferred choice in private IoT connections, while NB-IoT will expand through cost-effective implementations, with both technologies poised for continued success through 2030.

While LoRaWAN and NB-IoT may compete fiercely in today's market (and through the forecast period), there is ample room for both protocols to be successful. LoRaWAN has now focusing on high-growth areas, such as smart buildings, smart homes, and asset tracking.

Read the full press release here.

Omdia