ID: MRFR/SEM/4535-HCR | February 2021 | Region: Global | 100 pages
Narrowband IoT (NB-IoT) chipset market is estimated to reach USD 265 million at CAGR 60% through the forecast period 2023. Narrowband Internet of Things (NB-IoT) is a wireless technology which allows several devices to connect across cellular telecommunication bands. Due to this low power technology, it is majorly deployed in devices operating at low data rates. The major advantages of narrowband IoT chipsets can be deployed as a simple addition of new software to the existing LTE infrastructure, leading to fast development, global roaming, and economies of scale and many others.
NB-IoT chipsets consume less amount of power and are deployed in various applications such as smart meters, facility management services, fire alarms, tracking of persons, connected industrial appliances and many more. When compared to LTE- M1, NB-IoT chipsets has lower bitrates and better link budgets. NB-IoT chipsets can directly connect sensors to the base station which boosts flexibility while lowering costs.
The increasing demand for long-range connectivity and growing prominence of the machine to machine communication are driving NB-IoT chipset market. The market is fuelled by chipset factors such as power efficiency, flexibility, and wider deployment. However, increased initial costs to develop operating software is hampering the market growth.
The global narrowband IoT (NB-IoT) chipset market is segmented into component, device, deployment, end-user, and region. On the basis of component, the segment is further classified into hardware, software, and services. Hardware comprises modules and others. The services can be further classified into professional services and managed services. On the basis of applications, the segment is further classified into alarms & detector, a smart appliance, tracker, wearable, smart meter and many others. On the basis of deployment, the segment is further classified into guard band, in-band, and standalone. The end-users of narrowband IoT chipset market are healthcare, energy and utility, agriculture, retail, transportation and logistics, and others.
SOURCE: Company websites, annual reports, white papers, MRFR analysis
The narrowband IoT (NB-IoT) chipset market is analyzed for North America, Europe, Asia Pacific and rest of the world. North America is anticipated to hold major market share through the forecast period. The early adoption of narrowband IoT in the region along with the presence of major players is driving the market in this region. The increasing demand for long-range connectivity is fuelling the market growth. Asia Pacific is estimated to show a high growth rate during the forecast period. Integration of narrowband IoT technology with cloud computing is driving the market in this region. The rise in the development of smart cities in the developing countries like India, China, and Taiwan are promoting the growth of narrowband IoT chipsets. Europe is one of the key contributors in the narrowband IoT chipset market. The presence of key platters and deployment of new technology across major industry verticals are contributing to the market growth in this region. Additionally, the rising government funding is fuelling the market growth.
Some of the key players in the narrowband IoT (NB-IoT) chipset market are Intel Corporation (U.S.), Huawei Technologies Co. Ltd., (China), Ericsson (Sweden), Nokia Corporation (Finland), Quectel Wireless Solutions Co. Ltd. (China), Sierra Wireless (Canada), Deutsche Telekom AG (Germany), China United Network Communications Group Co., Ltd. (China), Qualcomm Technologies Inc., (U.S.), Vodafone Group plc (U.K) and others.
Some of the key innovators are u-blox (Switzerland), ZTE Corporation (China), SEQUANS Communications SA (France), Emirates Telecommunication Group (UAE), China Telecommunications Corporation (China), Nordic Semiconductor (Norway), Sigfox (France), STMicroelectronics (U.S.), Gemalto (the Netherlands) and many others.
|Market Size||USD 265 Million (2023)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Component, By Application, By Deployment|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Intel Corporation (U.S.), Huawei Technologies Co. Ltd., (China), Ericsson (Sweden), Nokia Corporation (Finland), Quectel Wireless Solutions Co. Ltd. (China), Sierra Wireless (Canada), Deutsche Telekom AG (Germany), China United Network Communications Group Co., Ltd. (China), Qualcomm Technologies Inc., (U.S.), Vodafone Group plc (U.K)|
|Key Market Opportunities||
|Key Market Drivers||The increasing demand for long-range connectivity and growing prominence of the machine to machine communication are driving NB-IoT chipset market.|
Frequently Asked Questions (FAQ) :
By component, the narrowband IoT chipset market has been segmented into services, software and hardware.
The NB-IoT chipset market is expected to earn revenue worth USD 265 Mn by 2023.
North America is supposed to drive growth of the global narrowband IoT chipset market due to early adoption of the technology.
The market is assessed to register 60% CAGR over the review period.
The narrowband IoT chipset market, by application, has been segmented into Alarms & Detector, Tracker, Wearable, Smart Appliance, and others.