Portland, OR -- (SBWire) -- 06/14/2018 --Narrowband Internet of Things (NB-IoT) is Low Power Wide Area Network (LPWAN) radio technology with which the interconnection of different devices and services with the help of telecommunication bands is possible. It helps in enabling simple and efficient connectivity of devices and services along with providing security and reliability for data. NB-IoT is specifically utilized for indoor coverage, long battery life, low cost, and connection of large number of connected devices. Furthermore, power consumed due to use of NB-IoT is low, which also provides an added advantage.
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Market Drivers and Restraints:
The global narrowband IoT market is driven by factors such as rise in awareness about wireless technology, increase in demand for LPWAN across different sectors, low deployment cost, and high flexibility in deployment. However, transformation interruption of IT systems and intense market competition from rival LPWAN technologies limit growth in the industry. Increase in need for connectivity of IoT applications, emergence of smart buildings and smart cities, and deployment of intelligent devices create new opportunities in the industry.
Market Segmentation:
By Component
Hardware
Software
Services
By Solution Type
Data Analytics
Security Solutions
Management and Automation
IoT Device Test and Support
Asset Tracking Solutions
Logistics Tracking Solutions
By Industry Vertical
Manufacturing
Transport and Logistics
Healthcare
Energy and Utilities
Retail and Consumer Goods
BFSI
Others
By Smart Application
Smart Metering
Smart Buildings
Smart Governance
Others
By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players:
Key players operating in the global narrowband IoT market are discussed in the research to help market players and new entrants gain insights on competition intensity along with strategies to be adopted to gain stronghold of the global industry. Market players analyzed in the research are Huawei Technologies, Co., Ltd, Ericsson, Vodafone Ltd., IBM Corporation, CWPSLochbridge India Pvt. Ltd., Nokia Corporation, AT&T, Inc., Intel Corporation, Deutsche Telekom AG, and Qualcomm Technologies, Inc. They have adopted various strategies such as expansion, collaborations, joint ventures, partnerships, mergers & acquisitions, and others to gain strong position of the industry.
Key Takeaways from the Report:
The study offers a comprehensive analysis of the global narrowband IoT market based on recent market trends and estimations for the future.
The report provides a detailed information on changing industry dynamics to assist market players gain insights on current scenario and feasibility of investment.
The research offers a detailed analysis of drivers, restraints, and opportunities along with factors that impact the market conditions.
The research on the global narrowband IoT market provides an in-depth analysis and insights for the historic period and the forecast period along with steps to be taken to gain stronghold in the market.
Porter's Five Forces analysis offers information on competitive intensity of the industry and outlines potency of buyers and suppliers.
Increase in Demand Narrowband IoT Market During 2018 to 2025
NB-IoT devices offers automation at a very low cost.