DUBLIN, DUBLIN -- (SBWire) -- 02/25/2021 --Narrowband IOT (NB-IoT) Chipset Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The increasing application of IoT, the growing participation of the major sector players in the development of NB-IoT, and the rising use of the connected device worldwide are the key drivers propelling the growth of the global Narrowband IOT Chipset Market size. The high demand for wearable devices due to the emergence of the COVID-19 is opening new doors for the growth of the Narrowband IoT (NB-IoT) chipset market share in terms of revenue in the coming years. As per the Narrowband IoT (NB-IoT) chipset market report, the growing M2M communications is further propelling the growth of the connected devices market industrial sector. The rising industry trend, retail, electronics, and other sectors.
The reduced costs of sensors have increased the adoption of IoT across large companies. The NB-IoT enables smooth communications through improved connectivity, increasing preference for a smart and greener planet, and the low power need are the exceptional specifications that are attracting many end-users towards the market. The rising demand for connected devices for long-range connectivity is expected to increase the deployment of M2M/IoT devices, including smart meters, smart streetlights, smart parking solutions, and livestock monitoring devices. Additionally, the increasing number of projects regarding smart cities and smart buildings are creating lucrative opportunities for the NB-IoT players to boost their presence in the market.
Narrowband IoT (NB-IoT) Chipset Market's leading Manufacturers:
- Huawei Technologies Co., Ltd.
- Qualcomm Technologies, Inc.
- Nordic Semiconductor
- Samsung Electronics
- Intel Corporation
- MediaTek Inc.
- Altair Semiconductor
- CommSolid GmbH
- Sierra Wireless
- SEQUANS
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Deployment Type Segment Drivers
Based on the deployment type, the guard band is predicted to grow at a faster rate during the forecast period due to several remarkable specifications of the guard band, like the absence of frequency planning and reutilization of existing infrastructure such as RF modules & antenna. Furthermore, the rising requirement of no additional spectrum cost in guard band deployment will further stimulate the growth of the segment.
Regional Drivers
Based on the region, Asia-Pacific is expected to rise at a higher CAGR in the coming years due to the strong adoption of NB-IoT technology in numerous applications, including healthcare, smart parking, smart meters, and other devices. China is a leading country in the APAC region owing to the supportive government policies and the increasing presence of providers of NB-IoT chipsets, infrastructure, and modules.
Narrowband IoT (NB-IoT) Chipset Market Segmentation:
Segmentation by Deployment Type:
- Stand-Alone
- Guard Band
- In-Band
Segmentation by Device:
- Smart Parking
- Smart Meters
- Trackers
- Alarms and Detectors
- Smart Streetlights
- Smart Appliances
- Wearable Devices
- Other Devices
Segmentation by Application:
- Food & Beverages
- Pharmaceuticals
- Animal Feed
- Others
Segmentation by Vertical:
- Agriculture
- Automotive and Transportation
- Energy and Utilities
- Healthcare
- Manufacturing
- Safety and Security
- Infrastructure
- Building Automation
- Consumer Electronics
Segmentation by Region:
- North America
o United States of America
o Canada
- Asia Pacific
o China
o Japan
o India
o Rest of APAC
- Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
- RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
Our Other Relevant Reports:
1. Low Power IoT Service Market
2. IOT Security Market
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Narrowband IOT Chipset Market Size, Share & Industry Growth Forecast Report, 2020-2027
Global Narrowband IoT (NB-IoT) Chipset Market reveals that the market is slated to register a higher CAGR over the forecast period. This is attributed to the increasing application of IoT, the growing participation of the major sector players in NB-IoT development, and the rising use of the connected device.