Narrowband IOT Chipset Market Comprehensive Study Explores Huge Revenue Scope in Future | Leading Key Players | COVID-19 Effects

[vivek vishwakarma]

Market Synopsis

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.

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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.

Global narrowband IoT (NB-IoT) chipset market is estimated to reach USD 265 million at CAGR 60% through the forecast period 2023

Segmentation

The global Narrowband 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.

Key Players:

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.

There have been recent mergers and acquisitions among key players, where the business entities expect to strengthen their reach to their customers.

Regional Analysis

By geography, the market is studied in North America, Europe, Asia Pacific and rest of the world. Among these regions, Asia Pacific is projected to show high growth rate in the forecast period. Increasing demand for advanced technologies in the machine to machine communication and advancements in the system on a chip (SoC) integration in developing countries are driving the market in this region.

On the other hand, Europe is expected to show a decent growth considering the narrowband IoT (NB-IoT) chipset market. The proliferation of IoT devices and demand for advanced communication techniques drive the market in this region. However, North America is expected to hold major market share throughout the forecast period. Increasing adoption of narrowband IoT chipsets across major industry verticals is driving the market in this region.

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Intended Audience

Research Organizations
Chipset manufacturers
System integrators
Software developers
Testing
Government
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