Narrowband IoT Chipset Market Size, By Deployment Type, By Devices, By End-Use and Forecast 2031

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Narrowband IoT Chipset Market Size, By Deployment Type, By Devices, By End-Use and Forecast 2031

Narrowband IoT Chipset Market is a wide area network technology that is specially developed for Internet of Things or IoT devices.

Narrowband IoT Chipset Market is a wide area network technology that is specially developed for Internet of Things or IoT devices. The connection of these devices is generally made for remote control, cost saving and many more. The increasing use of IoT devices and their technical innovation are some of the major factors to drive the growth of narrowband IoT chipset market. the technology deployed in narrowband IoT helps to provide network connectivity among several devices and services. Use of narrowband IoT chipset in agriculture, healthcare/ E-Health, safety and security, retail, automotive & logistics, manufacturing, energy & utilities and others creates an ample growth of opportunity of this market. Moreover, high usage of alarms and detectors in industrial units, healthcare units, makes the market more demanding. Use of NB-IoT technology in smart agriculture, smart parking and smart buildings, drive the growth of the market. NB-IoT technology works at low data rates and therefore is an ideal choice for application in M2M connection. Rise in adoption of M2M connections also thereby makes a positive impact on the growth of global narrowband IoT chipset market.

High demand of IoT and long-range connectivity are some of the key factors propelling the growth of narrowband IoT chipset market. Moreover, NB-IoT offers huge benefits to consumers and industrial sectors. These benefits include facility management services, tracking of persons, objects or animals, smart metering (electricity, water and gas), smart city infrastructure, connected personal appliances and connected industrial appliances such as air compressors and welding machines. The NB-IoT technology is assumed to help in escalating the indoor coverage, decreasing delay sensitivity and lowering power consumption. Further down, growing need for low-cost connectivity and low-power technology is expected to boost the market growth of global narrowband IoT chipset during the projection period of 2017-2025.

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The narrowband IoT chipset market in report is segmented by deployment type which includes guard band, standalone and in-band.Moreover, on the basis of devices, the market has been segmented as trackers, wearable devices, alarms and detectors, smart appliances, smart metering and others. Further down, the NB-IoTchipset market has been segmented by end-use which includes automotive & transportation, healthcare, agriculture, infrastructure, retail, safety & security and others. The global narrowband IoT chipset market has been moreover segmented geographically into North America, Europe, Asia-Pacific, Middle East and Africa and Latin America.

Widely adopted NB-IoT chipset across various end-use applications including healthcare devices, building automation, smart infrastructure, automotive and others have propelled the growth of this market. Completion of trial of narrowband IoT by major key vendors in regions like Spain and Turkey have been the major factor driving the market. Moreover, huge investment in research & development sector by key market players to improve NB-IoT chipsets, has increased the application of this technology. Presence of large number of players and new vendors entering the market and their ideas to develop the NB-IoT technology is expected to fuel the growth of global narrowband IoT chipset market during the forecast period.

Some of the major players in the global narrowband IoT chipset market are Vodafone Group PLC, Intel Corporation, Ericsson, Verizon Communications, Huawei Technologies Co. Ltd. and others.

Global Narrowband IoT Chipset Market: By Deployment Type