Narrowband IoT (NB-IoT) Chipset Market Size – Industry Structure Evaluation, Demand Drivers Analysis, Regional Growth Analysis and Identification, Competitive Positioning Review & Global Market Size Forecast to 2030
Overview
Narrowband IoT (NBIoT) Chipset Market size is expected to grow at 38.9% throughout the forecast period, reaching nearly US$ 12.74 Bn by 2030.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Narrowband IoT (NB-IoT) Chipset Market Dynamics:
Development in narrowband IoT technology and growing participation of industry players in the development of NB-IoT are the factors fueling the growth of global narrowband IoT chipset market. In addition, growing implementation of IoT and rise in use of connected devices is further supplementing the growth of the global narrowband IoT chipset market.
Based on the device segment, the wearable devices segment is projected to foresee the highest CAGR xx% in the overall market throughout the forecast period. The M2M and IoT market for wearable devices is projected to grow at a high rate with the development of new products and better customer engagement. The increasing market for wearable strategies across healthcare, performing, sports and fitness, and other sectors is driving the demand for low-power and greatly secure cellular networks.
On the basis of vertical segment, the implementation of NB-IoT technology is projected to help the energy sector to achieve business objectives. In the coming years, the technology can be deployed for overall plant automation, process optimization, supply chain optimization, improved safety, and combined business processes, while fulfilling corporate social responsibility. Currently, smart metering is the major application of NB-IoT technology in energy and utilities.
In terms of region, the growing implementation of NB-IoT technology in multiple applications, like smart meters, smart parking, smart streetlights, and healthcare, is a key factor driving the growth of the global narrowband IoT chipset market in APAC. China is currently dominating the market in APAC, in terms of market size. Favorable government policies and a strong presence of narrowband IoT chipsets, modules, and infrastructure providers in China are the prime factors fueling the growth of the market in China. The main countries contributing to the European narrowband IoT chipset market.
The report offers a comprehensive assessment of the market. It does so via comprehensive qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research organizations and expectations. By doing so, the research report serves as a source of analysis and information for every facet of the market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Narrowband IoT (NB-IoT) Chipset Market dynamics, structure by identifying and analyzing the market segments and project the global market size.
Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Narrowband IoT (NB-IoT) Chipset Market.
Narrowband IoT (NB-IoT) Chipset Market, Key Highlights:
Global Narrowband IoT (NB-IoT) Chipset Market analysis and forecast, in terms of value.
Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Narrowband IoT (NB-IoT) Chipset Market
Global Narrowband IoT (NB-IoT) Chipset Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
Global Narrowband IoT (NB-IoT) Chipset Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
Global Narrowband IoT (NB-IoT) Chipset Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Narrowband IoT (NB-IoT) Chipset Market are also profiled.
Scope of Global Narrowband IoT (NB-IoT) Chipset Market: Inquire before buying
| Global Narrowband IoT (NB-IoT) Chipset Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | US $ 1.27 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 38.9% | Market Size in 2030: | US $ 12.74 Bn. |
| Segments Covered: | by Deployment Type | Stand-Alone Guard Band In-Band |
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| by Devices | Smart Parking Smart Meters Trackers Alarms and Detectors Smart Streetlights Smart Appliances Wearable Devices Other Devices |
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| by Vertical | Agriculture Automotive and Transportation Energy and Utilities Healthcare Manufacturing Safety and Security Infrastructure Building Automation Consumer Electronics |
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Narrow band IoT (NB-IoT) Chipset Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Narrow band IoT (NB-IoT) Chipset Market, Key Players are:
1. Huawei
2. Qualcomm
3. Nordic Semiconductor
4. Samsung Electronics
5. Intel
6. Sanechips Technology
7. Mediatek
8. Altair Semiconductor
9. Commsolid
10. Riot Micro
11. Sierra Wireless
12. U-Blox
13. Sequans Communication
14. GCT Semiconductor
15. Xiamen CheerzingIoT Technology
16. Telit
17. Quectel Wireless Solutions
18. Simcom Wireless Solutions
19. Gemalto
20. Sercomm
Frequently Asked Questions:
1. Which region has the largest share in Global Narrowband IoT (NBIoT) Chipset Market ?
Ans: Asia Pacific region held the highest share in 2023.
2. What is the growth rate of Global Narrowband IoT (NBIoT) Chipset Market ?
Ans: The Global Narrowband IoT (NBIoT) Chipset Market is growing at a CAGR of 38.9% during forecasting period 2024-2030.
3. What is scope of the Global Narrowband IoT (NBIoT) Chipset Market report?
Ans: Global Narrowband IoT (NBIoT) Chipset Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Narrowband IoT (NBIoT) Chipset Market ?
Ans: The important key players in the Global Narrowband IoT (NBIoT) Chipset Market are – Huawei, Qualcomm, Nordic Semiconductor, Samsung Electronics, Intel, Sanechips Technology, Mediatek, Altair Semiconductor, Commsolid, Riot Micro, Sierra Wireless, U-Blox, Sequans Communication, GCT Semiconductor, Xiamen CheerzingIoT Technology, Telit, Quectel Wireless Solutions, Simcom Wireless Solutions, Gemalto, Sercomm.
5. What is the study period of this Market?
Ans: The Global Narrowband IoT (NBIoT) Chipset Market is studied from 2023 to 2030.