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Industry trend|Latest! Click to See How Global Cellular IoT Connections Broke Through the 4 Billion Mark?
With the continuous advancement of IoT technology and the expansion of application areas, the global cellular IoT market is experiencing unprecedented growth. At the end of 2024, this market reached an important milestone: the latest report from research firm IoT Analytics shows that the number of global cellular IoT connections has exceeded the 4 billion mark, accounting for about 22% of the total number of global IoT connections.
IoT Analytics said that global cellular IoT connections reached 3.9 billion in the first half of 2024, a year-on-year increase of 20% and a growth of 181% in the past five years. After continuous analysis, it was found that by the end of the third quarter of 2024, the number of cellular IoT connections will exceed 4 billion, and it is expected to reach 4.2 billion by the beginning of 2025. Driven by LTE Cat 1 bis and 5G, the number of connections between 2024 and 2030 is expected to climb at a compound annual growth rate (CAGR) of 15%.
Image source: IoT Analytics
LTE Cat 1 bis to boost cellular IoT growth
LTE Cat 1 bis has made a significant contribution to the growth of cellular IoT, with its number of connections increasing by 68% year-on-year in the first half of 2024. Based on 3GPP Release 13, LTE Cat 1 bis adopts a single antenna design optimized for low-power applications, reducing hardware complexity and cost, making it more attractive to manufacturers and solution providers.
In terms of market demand, due to the lack of LTE-M and the limitations of NB-IoT, China has accelerated the adoption of LTE Cat 1 bis. The latest data from IoT Analytics shows that China accounts for 85% of global LTE Cat 1 bis connections and achieved 56% year-on-year growth in the first half of 2024.
In terms of performance, LTE Cat 1 bis provides high-speed capabilities of up to 10 Mbps downlink and 5 Mbps uplink while maintaining low power consumption. LTE Cat-1bis was introduced in 3GPP Release 13, so two energy-saving features, PSM (Power Saving Mode) and eDRX (Extended Discontinuous Reception), were also introduced to better adapt to power-constrained applications.
Although not as energy-efficient as NB-IoT or Cat-M, Cat-1-bis still achieves a good balance between power consumption and throughput, and is particularly useful for devices that require frequent communication while maintaining battery life, such as smart meters and fleet management. , medical devices and payment solutions.
From a cost-effective perspective, LTE Cat 1 bis operates on existing LTE networks around the world, providing broad coverage. Ericsson data shows that LTE networks will cover 85% of the world's population except China in 2023. It provides a seamless migration path as 2G and 3G networks are retired, ensuring long-term and continued support for IoT applications.
In addition, the cost of Cat-1bis has also dropped quite rapidly, which has triggered a wave of customers migrating from LPWA or Cat-1 to Cat-1bis. Counterpoint research points out that Cat-1bis average selling price (ASP) will almost halve by 2024, making it a more cost-effective alternative in cost-constrained applications. At the same time, Aojie Technology doubled its global market share in the second quarter of 2024 with the strong performance of its chipsets in the Cat-1bis field.
The development driving force of 5G IoT: FWA and automobiles
Thanks to the iterations of 3GPP Release 15 and subsequent versions, 5G IoT connections have also achieved significant growth, enhancing their characteristics for high-speed (up to 20Gbps) and low-latency (as low as 1 millisecond) applications, which is ideal for applications that require Immediate response and high throughput applications are critical. 5G is capable of supporting up to one million devices per square kilometer, meeting the growing number of IoT devices.
Looking at market demand, China's massive investment in 5G infrastructure has created a strong ecosystem that supports widespread adoption. The availability of 5G-compatible devices and modules has lowered the threshold for various industries to implement 5G IoT solutions. IoT Analytics tracking analysis shows that China accounts for approximately 80% of global 5G IoT connections, with a year-on-year growth of 79% in the first half of 2024.
In terms of applications, FWA and the automotive industry are driving the growth of 5G IoT.
In the first half of 2024, FWA used 5G networks to provide high-speed Internet access to homes and businesses, especially in areas lacking fiber optic infrastructure, contributing 45% of global 5G IoT connections. This approach provides a cost-effective alternative to traditional broadband services and expands connectivity in less developed areas, a boon for long-range IoT connectivity needs.
Meanwhile, the latest research from the Global Mobile Suppliers Association (GSA) predicts that 5G will account for 42% of all FWA client device shipments this year, up from 34% last year, indicating that 5G will become the main FWACPR technology next year. John Yazlle, vice chairman of the GSA 4G/5G FWA Forum, said that this market dynamic "undoubtedly proves that 5G FWA has become mainstream."
The Internet of Vehicles is one of the important downstream industries of 5G. 5G helps the automotive industry move towards intelligent transformation. Data shows that the automotive industry, including transportation, supply chain and logistics, accounted for 26% of global 5G IoT connections during the same period, and the industry is integrating 5G IoT to enhance real-time navigation, telematics and infotainment.
In addition, 5G supports future technologies such as Cellular Vehicle-to-Everything (C-V2X), which enables communication between vehicles, infrastructure and other road users, including vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communications. Since vehicles produced today will be used for more than a decade, integrating 5G ensures they remain compatible with emerging technologies throughout their lifespan.
The growth in the number of global cellular IoT connections not only marks the rapid development of IoT technology, but also reflects the depth and breadth of global digital transformation. 5G and LTE Cat 1 bis, as key technology drivers, are driving innovation and expansion of IoT applications, bringing new opportunities and value to global businesses and consumers.
Looking ahead, IoT Analytics analysts are optimistic about the development of 5G RedCap, proposing that 2025 will mark the first commercialization of 5G RedCap connections. It is expected that 5G eRedCap, which reaches Cat-1 level, will be released in 3GPP Release 18, while improving equipment efficiency and cost-effectiveness, promoting a smooth transition to the next generation of connections, and supporting a wide range of IoT applications, including use cases that require medium speeds, such as wearable devices and smart cameras.
This paper is from Ulink Media, Shenzhen, China, the organizer of IOTE EXPO (IoT Expo in China)
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Pvc Cling Film Market Trends, Demand & Future Scope till 2032
Pvc Cling Film Market provides in-depth analysis of the market state of Pvc Cling Film manufacturers, including best facts and figures, overview, definition, SWOT analysis, expert opinions, and the most current global developments. The research also calculates market size, price, revenue, cost structure, gross margin, sales, and market share, as well as forecasts and growth rates. The report assists in determining the revenue earned by the selling of this report and technology across different application areas.
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Pvc Cling Film in these regions till the forecast period
North America
Middle East and Africa
Asia-Pacific
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Key Attentions of Pvc Cling Film Market Report:
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Narrowband IoT (NB-IoT) Chipset Market Size, Share, Industry Report & Trend Analysis
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Narrowband IoT Chipset Market is Booming Worldwide | Gaining Revolution In Eyes of Global Exposure
Latest business intelligence report released on Global Narrowband IoT Chipset Market, covers different industry elements and growth inclinations that helps in predicting market forecast. The report allows complete assessment of current and future scenario scaling top to bottom investigation about the market size, % share of key and emerging segment, major development, and technological advancements. Also, the statistical survey elaborates detailed commentary on changing market dynamics that includes market growth drivers, roadblocks and challenges, future opportunities, and influencing trends to better understand Narrowband IoT Chipset market outlook. List of Key Players Profiled in the study includes market overview, business strategies, financials, Development activities, Market Share and SWOT analysis are:
Huawei (China)
Qualcomm (United States)
Samsung (South Korea)
Nordic Semiconductor (Norway)
Altair Semiconductor (Sony Group Company) (Israel)
Cheerzing (China)
Sercomm (Taiwan)
SIMCom (China)
Sequans Communications (France)
Sierra Wireless (Canada) Narrowband Internet of Things (NB-IoT) is known as a Low Power Wide Area Network (LPWAN) radio technology standard developed by the 3GPP to enable a wide range of cellular services and devices. The main advantages of narrowband IoT chipsets are deployed as a simple addition of new software to existing LTE infrastructure, leading to fast development, economies of scale, global roaming, and many others. Widening applications of Narrowband IoT technology and increasing participation of various industry players in the development of NB-IoT are among the factors which are fueling the growth of the NB-IoT chipset market. In addition to this, a rise in the use of connected devices and the growing adoption of IoT is further supplementing the growth of the NB-IoT chipset market. Key Market Trends: Increasing Participation of Industry Players in Development of NB-IoT Opportunities: Emerging Smart Cities and Smart Buildings Market Growth Drivers: Growing Adoption of IoT and Rise in Use of Connected Devices
Rising Demand for Low-Power, Low-Cost, and Long-Range Connectivity Technologies
Widening Applications of NB-IoT Technology Challenges: Long-Tail Ecosystem Consisting of Chipsets, Modules, Devices, and Application Platforms
Limited to Low-Speed Data Transmission Applications The Global Narrowband IoT Chipset Market segments and Market Data Break Down by Type (Standalone, Guard Band, In-Band), Application (Agriculture, Automotive, Energy, Others), Device (Smart Parking, Smart Meters, Trackers, Alarms and Detectors, Smart Streetlights, Smart Appliances, Wearable Devices, Other Devices)
Presented By
AMA Research & Media LLP
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NB-IoT Chipset Market 2022 - Growth, Trends, COVID-19 Impact, And Forecasts to 2028
NB-IoT Chipset Market 2022 – Growth, Trends, COVID-19 Impact, And Forecasts to 2028
“NB-IoT Chipset Market 2022-2028 A New Market Study, Titled “NB-IoT Chipset Market Upcoming Trends, Growth Drivers and Challenges” has been featured on fusionmarketresearch. Description This global study of the NB-IoT Chipset Market offers an overview of the existing market trends, drivers, restrictions, and metrics and also offers a viewpoint for important segments. The report also tracks…
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Narrowband IoT ChipsetMarket Expectation Surges with Rising Demand and Changing Trends
Global Narrowband IoT Chipset Market Report from AMA Research highlights deep analysis on market characteristics, sizing, estimates and growth by segmentation, regional breakdowns & country along with competitive landscape, players market shares, and strategies that are key in the market. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions. Major Players in This Report Include:
Huawei (China)
Qualcomm (United States)
Samsung (South Korea)
Nordic Semiconductor (Norway)
Altair Semiconductor (Sony Group Company) (Israel)
Cheerzing (China)
Sercomm (Taiwan)
SIMCom (China)
Sequans Communications (France)
Sierra Wireless (Canada) Narrowband Internet of Things (NB-IoT) is known as a Low Power Wide Area Network (LPWAN) radio technology standard developed by the 3GPP to enable a wide range of cellular services and devices. The main advantages of narrowband IoT chipsets are deployed as a simple addition of new software to existing LTE infrastructure, leading to fast development, economies of scale, global roaming, and many others. Widening applications of Narrowband IoT technology and increasing participation of various industry players in the development of NB-IoT are among the factors which are fueling the growth of the NB-IoT chipset market. In addition to this, a rise in the use of connected devices and the growing adoption of IoT is further supplementing the growth of the NB-IoT chipset market. Market Drivers Growing Adoption of IoT and Rise in Use of Connected Devices
Rising Demand for Low-Power, Low-Cost, and Long-Range Connectivity Technologies
Widening Applications of NB-IoT Technology
Market Trend Increasing Participation of Industry Players in Development of NB-IoT
Opportunities Emerging Smart Cities and Smart Buildings
Challenges Long-Tail Ecosystem Consisting of Chipsets, Modules, Devices, and Application Platforms
Limited to Low-Speed Data Transmission Applications
The Narrowband IoT Chipset market study is being classified 20115 Presented By
AMA Research & Media LLP
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Narrowband IoT Chipset Market Size, Share & Segment by Raw Material, by End-User, by Form , by Modification type , by Function, by Regions & Global Market Forecast 2022-2028
The Narrowband IoT (NB-IoT) Chipset Market research study examines current and future trends in the industry globally. The study also includes a comprehensive geographical analysis, which provides readers with a comprehensive picture of the market's regional evolution. This analysis could be used by market participants to gain a competitive advantage over their competitors. The market research includes a competitor list and analysis, as well as a strategic industry analysis of the key market dynamics. The worldwide market analysis study research studies are used to analyze a variety of important characteristics, such as investment in a developing market, product success, and market expansion.
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Among other things, the study's competitive analysis section includes information on new product launches, expansions, agreements, joint ventures, partnerships, and acquisitions. This information can assist businesses in understanding how the industry's most significant competitors operate. The Narrowband IoT (NB-IoT) Chipset market research report forecasts general market conditions, market development prospects, potential restraints, major industry trends, market size, market share, sales volume, and future trends. Information on the global market's key drivers, regional dynamics, and current industry trends.
KEY MARKET SEGMENTATION:
BY DEPLOYMENT:
Stand-Alone
Guard Band
In-Band
Healthcare
Infrastructure
Building Automation
Manufacturing
Safety and Security
Agriculture
Automotive and Transportation
Energy and UtilitiesStand-Alone
Guard Band
In-Band
Healthcare
Infrastructure
Building Automation
Manufacturing
Safety and Security
Agriculture
Automotive and Transportation
Consumer Electronics
Smart Streetlights
Smart Parking
Smart Meters
Smart Appliances
Trackers
Alarms and Detectors
Wearable Devices
Market Segmentation
The research includes key industry developments, comprehensive market segmentation, a list of major market competitors, and other global market trends. The comprehensive research paints a comprehensive picture of the industry, covering a wide range of topics such as product description, market segmentation, and the current retailing environment. When all is said and done, this most recent market research study provides a comprehensive picture of the Narrowband IoT (NB-IoT) Chipset industry.
Competitive Outlook
The Narrowband IoT (NB-IoT) Chipset market study includes a list of major competitors, as well as strategic insights and an analysis of the industry's key factors. The study includes a SWOT analysis of the market's drivers and restraints, as well as extensive information on market definitions, classifications, applications, and interactions. The study provides excellent statistics, future projections, and in-depth market analysis on an international and regional scale.
Recent developments include trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of market players, analyses of emerging revenue pockets, changes in market regulations, strategic market growth analysis, application niches and dominance, geographic expansions, and technological advancements.
Report Conclusion
To learn more about the Narrowband IoT (NB-IoT) Chipset market, request an analyst briefing. Our knowledge will assist you in making an informed market decision that will aid in the growth of your business.
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Table Of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact Of Ukraine-Russia War
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Global Narrowband IoT (NB-IoT) Chipset Market Segmentation, By Deployment
8.1Introduction
8.2 Stand-Alone
8.3 Guard Band
8.4 In-Band
8.5 Other
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Narrowband Internet-of-Things (IoT) Chipset Market to Undertake Strapping Growth during 2031
The global narrowband Internet-of-Things (IoT) chipset market is broadly affected by several factors, such as digitization; 5G implementation; government initiatives, such as smart cities; and increasing applications in consumer electronics, smart monitoring, utilities, wearables, and industrial solutions. NB-IoT, which is being designed exclusively for the purpose of IoT communication, does have a dominant technological performance and service capabilities over existing M2M technologies. The requirement of NB-IoT in 200 kHz frequency makes it easier to fully utilize the operators’ scattered spectrum.
Transparency Market Research delivers key insights on the global narrowband Internet-of-Things (IoT) chipset market. In terms of revenue, the global narrowband Internet-of-Things (IoT) chipset market is estimated to expand at a CAGR of 9.5% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global narrowband internet-of-things (IoT) chipset drive market.
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Narrowband Internet-of-Things (IoT) chipset Market: Dynamics
Narrowband IoT (NB-IoT) is the newest Long Term Evolution (LTE) specification ratified by the third-generation partner project as one of the LPWA solutions to achieve the objectives of super coverage, low power, low cost, and massive connection. Various LPWA technologies, such as LoRa and SigFox, exist in the market, offering a proficient solution to users. However, a new cellular-based licensed technology, narrowband IoT (NB-IoT), is introduced by 3GPP in Rel-13 in order to abstain the need of new infrastructure (like base station) that is required for proprietary technologies.
According to data from the GSMA, the world is expected to record 3.2 billion cellular IoT connections in 2024. NB- IoT chipsets would help users in a new era for a wide range of IoT applications around the globe, especially those requiring connectivity deep within buildings combined with low power use, such as battery-powered IoT devices that need to operate for long years or longer in the field. The expansion of low-power wide-area networks around the world is opening the door to massive IoT use cases and applications that were not possible or practical before.
Smart city trial programs are becoming ubiquitous globally, and the connectivity infrastructure is aligning with low power wide area (LPWA) technologies to enable applications, including smart buildings, smart street lighting, and smart metering. A major challenge for smart city application is to deploy a radio-access network that can lower battery, cover a wide area, efficiently power low-cost devices, and match different spectrum allocations of operators. These applications include smart metering, properties monitoring, agriculture, and fleet and logistics management. Thus, an increase in smart devices usually work with small amounts of data and are commonly located in challenging places for signals reach is driving the narrowband Internet-of-Things (IoT) chipset market at a significant pace.
Narrowband Internet-of-Things (IoT) Chipset Market: Prominent Regions
In terms of region, the global narrowband Internet-of-Things (IoT) chipset market has been segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa. Asia Pacific accounted for a major share of the global narrowband Internet-of-Things (IoT) chipset market. Asia Pacific is estimated to account for a major share of the market, in terms of revenue, during the forecast period, owing to huge consumer base and ongoing government initiatives for smart applications and digitization of economies.
The rise in development of new narrow band technologies is a key driver of the global narrowband Internet-of-Things (IoT) chipset market.
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Narrowband Internet-of-Things (IoT) Chipset Market: Key Players
Key players operating in the global narrowband Internet-of-Things (IoT) chipset market are Huawei Technologies, u-blox Holding AG, Nordic Semiconductor, Samsung, MediaTek, Sercomm, Sequans Communications, Qualcomm, Inc., Verizon Communications, Inc., Altair Semiconductor, Vodafone Group Plc , Intel Corporation, and Ericsson.
Global Narrowband Internet-of-Things (IoT) Chipset Market: Segmentation
Narrowband Internet-of-Things (IoT) Chipset Market, by Deployment
Guard
In-band
Standalone
Narrowband Internet-of-Things (IoT) Chipset Market, by Application
Smart Meters
Wearables
Trackers
Vehicle Telematics
Smart Cities
Building Automation
Smart Appliances
Other Devices (Healthcare Devices and Environment Monitoring Devices)
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Cellular IoT Market Size, Share, Industry Trends, Growth Drivers Analysis 2030
The global cellular IoT market size was valued at USD 3.9 billion in 2021. it is projected to reach USD 15.4 billion by 2027, growing at a compound annual growth rate (CAGR) of 25.7% during the forecast period.
The key factors fueling the growth of the market include the increasing deployment of cellular IoT modules in smart city infrastructure and building automation verticals, and growing demand for cellular IoT in agricultural automation and environmental monitoring. Additionally, increasing application of cellular IoT modules in medical wearables, and Increasing applications for cellular IoT modules in vehicle telematics and fleet management is expected to create a growth opportunity for the cellular IoT industry.
The hardware segment is projected to account for the largest share of the market by 2027
Hardware components such cellular IoT modules and chipsets form the basis of the entire cellular IoT ecosystem.
The increasing deployment of cellular IoT modules in wearables and connected healthcare devices as well as smartcity infrastructure, and building automation projects is expected to fuel the growth of the hardware segment during by 2027
APAC region is expected to grow at the highest CAGR from 2021 to 2027
China, Japan, India, and South Korea are the major countries contributing to the growth of the cellular IoT market in APAC. Rapid deployment of smart city projects and increased demand for connected health wearable devices during the COVID-19 pandemic are driving the growth of the regional market.
Smart city infrastructure and building automation are the major verticals deploying cellular IoT modules. As of 2020, almost ~30% of the revenue of the market was generated from these verticals.
Emerging cellular IoT technologies such as NB-LTE-M, NB-IoT, and 5G are offering an affordable and power-efficient way to connect battery-operated devices to the internet. From smart street lighting to smart parking, these technologies can help in connecting devices more efficiently than the existing 2G and 3G technologies.
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Some of the major applications of cellular IoT in smart cities are in streetlights, traffic sensing and control devices, infrastructure monitoring devices, waste management devices, and parking management devices. Governments worldwide are particularly focusing on modern infrastructure reforms, and many pilot projects are being set up to achieve this goal. Besides, the governments in North America and Eastern Europe are incentivizing such projects and forging public–private partnerships (PPPs).
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Narrowband IoT Chipset Market is Booming Worldwide | Gaining Revolution In Eyes of Global Exposure
Latest business intelligence report released on Global Narrowband IoT Chipset Market, covers different industry elements and growth inclinations that helps in predicting market forecast. The report allows complete assessment of current and future scenario scaling top to bottom investigation about the market size, % share of key and emerging segment, major development, and technological advancements. Also, the statistical survey elaborates detailed commentary on changing market dynamics that includes market growth drivers, roadblocks and challenges, future opportunities, and influencing trends to better understand Narrowband IoT Chipset market outlook. List of Key Players Profiled in the study includes market overview, business strategies, financials, Development activities, Market Share and SWOT analysis are:
Huawei (China)
Qualcomm (United States)
Samsung (South Korea)
Nordic Semiconductor (Norway)
Altair Semiconductor (Sony Group Company) (Israel)
Cheerzing (China)
Sercomm (Taiwan)
SIMCom (China)
Sequans Communications (France)
Sierra Wireless (Canada) Narrowband Internet of Things (NB-IoT) is known as a Low Power Wide Area Network (LPWAN) radio technology standard developed by the 3GPP to enable a wide range of cellular services and devices. The main advantages of narrowband IoT chipsets are deployed as a simple addition of new software to existing LTE infrastructure, leading to fast development, economies of scale, global roaming, and many others. Widening applications of Narrowband IoT technology and increasing participation of various industry players in the development of NB-IoT are among the factors which are fueling the growth of the NB-IoT chipset market. In addition to this, a rise in the use of connected devices and the growing adoption of IoT is further supplementing the growth of the NB-IoT chipset market. Key Market Trends: Increasing Participation of Industry Players in Development of NB-IoT Opportunities: Emerging Smart Cities and Smart Buildings Market Growth Drivers: Growing Adoption of IoT and Rise in Use of Connected Devices
Rising Demand for Low-Power, Low-Cost, and Long-Range Connectivity Technologies
Widening Applications of NB-IoT Technology Challenges: Long-Tail Ecosystem Consisting of Chipsets, Modules, Devices, and Application Platforms
Limited to Low-Speed Data Transmission Applications The Global Narrowband IoT Chipset Market segments and Market Data Break Down by Type (Standalone, Guard Band, In-Band), Application (Agriculture, Automotive, Energy, Others), Device (Smart Parking, Smart Meters, Trackers, Alarms and Detectors, Smart Streetlights, Smart Appliances, Wearable Devices, Other Devices)
Presented By
AMA Research & Media LLP
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Narrowband IoT (NB-IoT) Chipset Market Global Industry Analysis, size, share and Forecast 2020-2027
As per the GMI Research's latest analysis, 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.
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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
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 (NB-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.
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)
About GMI Research
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