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Global Narrowband IoT (NB-IoT) Chipset Market: SynopsisMarket Research Future (MRFR) reports that the global narrowband IoT (NB-IoT) chipset market will generate close to USD 265 Mn by the year 2023.
It is projected that the market will post a compound annual growth rate (CAGR) of 60% during 2017 to 2023.
Moreover, NB-IoT chipset facilitates global roaming and economies of scale for businesses.
NB-IoT is energy-efficient and can be deployed in various applications, which include facility management services, tracking of persons, smart meters, connected industrial appliances, fire alarm among others.
The services segment covers two sub-segments managed service and professional services.
By application, the market has been segmented into tracker, smart meter, smart appliance, alarms & detector, wearable and others.Key Players:The key players profiled by Market Research Future (MRFR) that are operating in the Narrowband IOT Chipset Market are Intel Corporation (the U.S.), Huawei Technologies Co. Ltd., (China), Ericsson (Sweden), Nokia Corporation (Finland), Sierra Wireless (Canada), Deutsche Telekom AG (Germany), China United Network Communications Group Co., Ltd. (China), Quectel Wireless Solutions Co. Ltd. (China), Qualcomm Technologies Inc., (the U.S.), Vodafone Group plc (the U.K) and others.
Narrowband-IoT Market by Device Type (Tracker, Smart Metering, Wearable), Deployment (Stand Alone, Guard Band, In Band and), by Vertical (IT, Manufacturing Agriculture, Healthcare, Automotive & Transportation) -Forecast 2022Market HighlightsThe Global Narrowband IoT market has been evaluated as growing market and expected that the market will touch high growth figures in Asia-Pacific region during forecast years.In April 2016, Huawei and Vodafone announced the foundation of an Open IoT Lab for the product development and applications relating to NB-IoT technology.
Many prominent vendors such as Huawei Technologies Co. Ltd., Emirates Telecommunications Corporation, Qualcomm Incorporated and Vodafone Group PLC among others are working towards making the IoT dream, a reality.Narrowband IoT is a type of M2M communication technology that is specifically optimized for internet of things (IoT).
The NB-IoT modules only transmit small amount of infrequent data over long period of time.
The Market of NB-IoT is showing healthy growth due to the various advantages offered over conventional M2M channels such as low cost, low power consumption, long battery backup, reliable connection with wide area coverage and deep penetration.
The growing demand of low power connectivity solution and increasing interest in IoT platform are driving the market of NB-IoT.
Taste the market data and market information presented through more than 40 market data tables and figures spread over 100 numbers of pages of the project report.
