Narrowband IoT (NB-IoT) Chipset Market Forecasts to 2028 – Global Analysis By Component (Modules, Services), Application (Personal Care, Smart Retail), Device (Trackers, Alarms), End User (Energy, Logistics) and By Geography
According to Stratistics MRC, the Global Narrowband IoT (NB-IoT) Chipset Market is accounted for $461.00 million in 2020 and is expected to reach $6,063.64 million by 2028 growing at a CAGR of 38.0% during the forecast period. The growing adoption of IoT and the rise in the use of connected devices, rising demand for low-power, low-cost, and long-range connectivity technologies are driving the market growth. However, stiff competition from other low-power wide-area (LPWA) technologies, privacy and security concerns are restraining the growth of the market.
Narrowband IoT (NB-IoT) chipsets are the hardware components that are necessary for building an IoT network and a low-power wide-area network (LPWAN). Narrowband Internet of Things (NB-IoT) is a wireless technology that allows several devices to connect across cellular telecommunication bands. This helps to improve the power consumption, spectrum efficiency, and system capacity of user devices.
Based on the deployment, the guard band segment is going to have lucrative growth during the forecast period due to various benefits of guard band over stand-alone and in-band deployment. These benefits include the absence of frequency planning and reuse of existing infrastructure including RF modules & antenna. Furthermore, the requirement of no additional spectrum cost in guard band deployment is further increases the demand thereby its growth.
By geography, Asia Pacific is going to have high growth during the forecast period owing to its rapid development of the smart city and smart infrastructure in countries. Increasing perception of IoT in various applications and favourable government policies for NB-IoT chipsets in developing nations such as China and India in this region rises the growth of the NB-IoT chipsets market.
Some of the key players profiled in the Narrowband IoT (NB-IoT) Chipset Market include Huawei, Qualcomm, Samsung, Nordic Semiconductor, Sequans Communications, Sierra Wireless, u-blox, MediaTek, Vodafone Group PLC, Sierra Wireless, Deutsche Telekom AG, China United Network Communications Group Co., Ltd., Ericsson, Sequans Communications and SIMCom.
• Hardware (Modules)
• Guard Band
• Smart Agriculture
• Smart Cities
• Smart Building
• Smart Logistics
• Industrial Automation
• Personal Care
• Smart Retail
• Smart Meters
• Alarms and Detectors
• Smart Streetlights
• Smart Appliances
• Other Devices
End Users Covered:
• Public Infrastructure
• Automotive and Transportation
• Safety and Security
• Consumer Electronics
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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