Riot has released its first report from its new research wing, Riot Research, diving into the module and connectivity revenue expected from the LPWAN ecosystem, from 2017 to 2023. Covering both unlicensed and licensed approaches, the headline figures are a 45% CAGR in the period, reaching $19.1bn by 2023. Riot Research hopes to set the record straight on the direction of this sector. The forecast, constructed based on extensive discussions with the industry and Riot’s familiarity with the LPWAN ecosystem. We do not buy into the same levels of hype for the sector, but it should be noted that the revenue that could be attributable to LPWAN by other outlets might include the revenue associated with processing the data generated…