Narrowband Iot Nb Iot Chipset Market
Narrowband IoT (NB-IoT) Chipset Market Forecasts to 2030 - Global Analysis By Deployment (In-Band, Stand-Alone and Guard), Component (Services, Software and Hardware), Device, Application, End User and By Geography
According to Stratistics MRC, the Global Narrowband IoT (NB-IoT) Chipset Market is accounted for $1696.79 million in 2024 and is expected to reach $11719.31 million by 2030 growing at a CAGR of 38.0% during the forecast period. A narrowband IoT (NB-IoT) chipset is a specialized hardware component designed for low-power, wide-area (LPWA) communication in Internet of Things (IoT) devices. It operates on narrow bandwidths, enabling efficient and cost-effective connectivity for various IoT applications. NB-IoT chipsets offer extended coverage, allowing devices to communicate in challenging environments like deep indoors or underground. They prioritize power efficiency, enabling devices to operate for years on a single battery charge.
According to the latest data, there are approximately 14.4 billion connected IoT devices. This figure is expected to grow by 25.44 billion total IoT devices by 2031.
Market Dynamics:
Driver:
Rising demand for wearable devices for health monitoring
The rising demand for wearable health monitoring devices is a key driver in the adoption of narrowband IoT (NB-IoT) chipsets market. These chipsets offer low-power consumption, extended coverage, and cost-effectiveness, making them ideal for connecting wearable devices to cellular networks. With an increasing focus on preventive healthcare and the desire for continuous monitoring of vital signs, such as heart rate and blood pressure, NB-IoT chipsets enable seamless connectivity and data transmission from wearables to healthcare providers or users' smartphones. This technology facilitates real-time monitoring, timely intervention, and personalized healthcare services, thereby fueling the demand for NB-IoT chipsets in the wearable health monitoring market.
Restraint:
High competition from LPWA technologies
The high competition from LPWA (Low Power Wide Area) technologies poses a significant restraint on Narrowband IoT (NB-IoT) chipsets market. LPWA technologies such as LoRa and Sigfox offer alternative solutions for low-power, wide-area connectivity, directly competing with NB-IoT. This competition can lead to pricing pressure and challenges in market adoption for NB-IoT chipsets. Additionally, the diversity of LPWA options may confuse consumers and delay decision-making processes, further hindering the uptake of NB-IoT chipsets.
Opportunity:
Increase in trend of smart cities
The increase in the trend toward smart cities presents a significant opportunity for Narrowband IoT (NB-IoT) chipsets market. NB-IoT technology allows for efficient and cost-effective connectivity of various devices within urban environments, enabling smarter infrastructure and services. With their low power consumption and wide coverage, NB-IoT chipsets are ideal for deploying sensors and actuators across cities for applications like smart lighting, waste management, and traffic control. As cities seek to enhance efficiency and sustainability, the demand for NB-IoT chipsets raises driving innovations and investments in this sector.
Threat:
Limitation in low-speed data transmission applications
In low-speed data transmission applications, narrowband IoT (NB-IoT) chipsets market face limitations primarily due to their narrow bandwidth. This narrow bandwidth restricts the amount of data that can be transmitted at once, leading to slower data rates compared to broadband technologies. Consequently, tasks requiring high data throughput, such as streaming multimedia or large file transfers, are not suitable for NB-IoT. Additionally, the narrowband nature makes NB-IoT susceptible to interference and signal degradation in environments with high radio frequency activity, potentially compromising data reliability.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the narrowband IoT (NB-IoT) chipset market industry. Initially, disruptions in the global supply chain led to shortages of raw materials and components, causing delays in chipset production. Furthermore, lockdown measures and restrictions on movement hindered manufacturing and distribution processes, exacerbating the supply chain challenges. However, as the pandemic progressed, the demand for NB-IoT chipsets surged, driven by the need for remote monitoring and control solutions in various sectors such as healthcare, logistics, and smart cities.
The Hardware segment is expected to be the largest during the forecast period
The hardware segment in the narrowband IoT (NB-IoT) chipset market has experienced robust growth due to the increasing adoption of NB-IoT technology across various industries. This growth can be attributed to the rising demand for low-power, wide-area (LPWA) connectivity solutions for Internet of Things (IoT) applications. As NB-IoT offers advantages such as extended coverage, low power consumption, and cost-effectiveness, businesses are increasingly investing in NB-IoT chipset hardware to enable efficient IoT deployments. Additionally, advancements in chipset design, such as improved power efficiency and enhanced performance, have further fueled market growth.
The smart agriculture segment is expected to have the highest CAGR during the forecast period
The Smart Agriculture segment's growth in the Narrowband IoT (NB-IoT) chipset market is propelled by several factors. NB-IoT technology offers cost-effective, low-power connectivity solutions, ideal for agricultural applications such as precision farming, livestock monitoring, and crop management. With NB-IoT's long-range capabilities and deep penetration, farmers can efficiently monitor and manage their assets remotely, leading to increased productivity and reduced operational costs. Moreover, the integration of sensors and IoT devices powered by NB-IoT enables real-time data collection and analysis, empowering farmers to make data-driven decisions for optimal resource utilization and crop yields.
Region with largest share:
The growth of narrowband IoT (NB-IoT) chipsets in North America is primarily driven by several factors. The increasing adoption of IoT devices across various industries, including smart cities, healthcare, and agriculture, fuels the demand for NB-IoT technology. Advancements in communication infrastructure and the deployment of 5G networks provide a conducive environment for NB-IoT implementation. Additionally, regulatory initiatives supporting IoT deployments and the emergence of innovative applications further propel market growth.
Region with highest CAGR:
The Asia-Pacific region has witnessed significant growth in the Narrowband IoT (NB-IoT) chipset market due to the increasing adoption of IoT devices across various industries, such as manufacturing, agriculture, and smart cities. Additionally, government initiatives promoting smart infrastructure development and the deployment of IoT solutions have further accelerated market growth. The region's burgeoning population and rapid urbanization have also contributed to the expansion of NB-IoT applications, particularly in areas like smart metering and asset tracking. Furthermore, the presence of leading chip manufacturers and telecommunications companies in Asia-Pacific has stimulated innovation and competition in the market.
Key players in the market
Some of the key players in Narrowband IoT (NB-IoT) Chipset market include Deutsche Telekom AG, Ericsson, Huawei, MediaTek, Nordic Semiconductor, Qualcomm, Samsung, Sequans Communications, Sierra Wireless, SIMCom, u-blox and Vodafone Group PLC.
Key Developments:
In June 2024, Huawei has launched a new budget tablet, the MatePad SE 11, globally. The device focuses on affordability while offering features like a large display, long battery life, and stylus support. The MatePad SE 11 features a thin and lightweight metal body for a premium look. It comes in two colors, Crystal Blue and Nebula Gray, and measures 252.3 x 163.8 x 6.9mm, weighing 475 grams.
In June 2024, Qualcomm has recently introduced Snapdragon 6s Gen 3 chipset for mobile platforms. The Qualcomm Snapdragon 6s Gen 3 chipset is something that powers mid-range smartphones. Well, for those who are unknown, the ‘s’ in the chipset series of Snapdragon is something of a tone-down chipset. This is understandable as Snapdragon has introduced it very silently.
Deployments Covered:
• In-Band
• Stand-Alone
• Guard
Components Covered:
• Services
• Software
• Hardware
Devices Covered:
• Alarms and Detectors
• Smart Meters
• Trackers
• Smart Streetlights
• Smart Appliances
• Other Devices
Applications Covered:
• Smart Cities
• Smart Agriculture
• Smart Buildings
• Smart Retail
• Industrial Automation
• Vehicle Telematics
• Personal Care
• Smart Logistics
End Users Covered:
• Transportation & Logistics
• Safety and Security
• Public Infrastructure
• Manufacturing
• Industrial Production
• Healthcare
• Environment
• Energy and Utilities
• Consumer Electronics
• Automotive
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Narrowband IoT (NB-IoT) Chipset Market, By Deployment
5.1 Introduction
5.2 In-Band
5.3 Stand-Alone
5.4 Guard
6 Global Narrowband IoT (NB-IoT) Chipset Market, By Component
6.1 Introduction
6.2 Services
6.2.1 Professional Services
6.2.2 Managed Services
6.3 Software
6.4 Hardware
6.4.1 Memory
6.4.2 Power management unit
6.4.3 Processor
7 Global Narrowband IoT (NB-IoT) Chipset Market, By Device
7.1 Introduction
7.2 Alarms and Detectors
7.3 Smart Meters
7.4 Trackers
7.5 Smart Streetlights
7.6 Smart Appliances
7.7 Other Devices
7.7.1 Connected Healthcare Devices
7.7.2 Environment and Pollution Monitoring Devices
8 Global Narrowband IoT (NB-IoT) Chipset Market, By Application
8.1 Introduction
8.2 Smart Cities
8.2.1 Smart Waste Management
8.2.2 Smart Utilities
8.2.3 Smart Public Safety
8.2.4 Smart Parking
8.3 Smart Agriculture
8.3.1 Soil Monitoring Systems
8.3.2 Humidity & Temperature Monitoring
8.3.3 Precision Farming
8.3.4 Livestock Monitoring
8.3.5 Smart Irrigation
8.3.6 Fertilization & Disease Monitoring
8.4 Smart Buildings
8.4.1 Home & Building Automation
8.4.2 Smart Lightings
8.5 Smart Retail
8.5.1 Smart Mirrors
8.5.2 Inventory Management
8.5.3 Digital Signage
8.6 Industrial Automation
8.6.1 Industrial Goods Tracker
8.6.2 Factory Monitoring
8.6.3 Automated Guided Vehicles
8.7 Vehicle Telematics
8.8 Personal Care
8.8.1 Patient & Kids Monitoring
8.8.2 Wearable Devices
8.9 Smart Logistics
8.9.1 Industrial Asset Monitoring
8.9.2 Fleet Management
9 Global Narrowband IoT (NB-IoT) Chipset Market, By End User
9.1 Introduction
9.2 Transportation & Logistics
9.3 Safety and Security
9.4 Public Infrastructure
9.5 Manufacturing
9.6 Industrial Production
9.7 Healthcare
9.8 Environment
9.9 Energy and Utilities
9.10 Consumer Electronics
9.11 Automotive
10 Global Narrowband IoT (NB-IoT) Chipset Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Deutsche Telekom AG
12.2 Ericsson
12.3 Huawei
12.4 MediaTek
12.5 Nordic Semiconductor
12.6 Qualcomm
12.7 Samsung
12.8 Sequans Communications
12.9 Sierra Wireless
12.10 SIMCom
12.11 u-blox
12.12 Vodafone Group PLC
List of Tables
1 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Region (2022-2030) ($MN)
2 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Deployment (2022-2030) ($MN)
3 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By In-Band (2022-2030) ($MN)
4 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Stand-Alone (2022-2030) ($MN)
5 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Guard (2022-2030) ($MN)
6 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Component (2022-2030) ($MN)
7 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Services (2022-2030) ($MN)
8 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Professional Services (2022-2030) ($MN)
9 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Managed Services (2022-2030) ($MN)
10 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Software (2022-2030) ($MN)
11 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Hardware (2022-2030) ($MN)
12 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Memory (2022-2030) ($MN)
13 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Power management unit (2022-2030) ($MN)
14 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Processor (2022-2030) ($MN)
15 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Device (2022-2030) ($MN)
16 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Alarms and Detectors (2022-2030) ($MN)
17 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Smart Meters (2022-2030) ($MN)
18 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Trackers (2022-2030) ($MN)
19 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Smart Streetlights (2022-2030) ($MN)
20 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Smart Appliances (2022-2030) ($MN)
21 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Other Devices (2022-2030) ($MN)
22 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Connected Healthcare Devices (2022-2030) ($MN)
23 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Environment and Pollution Monitoring Devices (2022-2030) ($MN)
24 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Application (2022-2030) ($MN)
25 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Smart Cities (2022-2030) ($MN)
26 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Smart Waste Management (2022-2030) ($MN)
27 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Smart Utilities (2022-2030) ($MN)
28 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Smart Public Safety (2022-2030) ($MN)
29 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Smart Parking (2022-2030) ($MN)
30 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Smart Agriculture (2022-2030) ($MN)
31 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Soil Monitoring Systems (2022-2030) ($MN)
32 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Humidity & Temperature Monitoring (2022-2030) ($MN)
33 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Precision Farming (2022-2030) ($MN)
34 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Livestock Monitoring (2022-2030) ($MN)
35 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Smart Irrigation (2022-2030) ($MN)
36 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Fertilization & Disease Monitoring (2022-2030) ($MN)
37 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Smart Buildings (2022-2030) ($MN)
38 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Home & Building Automation (2022-2030) ($MN)
39 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Smart Lightings (2022-2030) ($MN)
40 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Smart Retail (2022-2030) ($MN)
41 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Smart Mirrors (2022-2030) ($MN)
42 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Inventory Management (2022-2030) ($MN)
43 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Digital Signage (2022-2030) ($MN)
44 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Industrial Automation (2022-2030) ($MN)
45 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Industrial Goods Tracker (2022-2030) ($MN)
46 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Factory Monitoring (2022-2030) ($MN)
47 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Automated Guided Vehicles (2022-2030) ($MN)
48 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Vehicle Telematics (2022-2030) ($MN)
49 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Personal Care (2022-2030) ($MN)
50 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Patient & Kids Monitoring (2022-2030) ($MN)
51 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Wearable Devices (2022-2030) ($MN)
52 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Smart Logistics (2022-2030) ($MN)
53 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Industrial Asset Monitoring (2022-2030) ($MN)
54 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Fleet Management (2022-2030) ($MN)
55 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By End User (2022-2030) ($MN)
56 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Transportation & Logistics (2022-2030) ($MN)
57 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Safety and Security (2022-2030) ($MN)
58 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Public Infrastructure (2022-2030) ($MN)
59 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Manufacturing (2022-2030) ($MN)
60 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Industrial Production (2022-2030) ($MN)
61 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Healthcare (2022-2030) ($MN)
62 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Environment (2022-2030) ($MN)
63 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Energy and Utilities (2022-2030) ($MN)
64 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Consumer Electronics (2022-2030) ($MN)
65 Global Narrowband IoT (NB-IoT) Chipset Market Outlook, By Automotive (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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