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Applications of NB-IoT and increasing participation of industry players in the development of NB-IoT, adoption of IoT and rise in use of connected devices.

PORTLAND, PORTLAND, OR, UNITED STATE, December 8, 2021 /EINPresswire.com/ -- Narrowband IoT (NB-IoT) chipset is a small electronic device embedded in objects, machines, and electronic devices. The narrowband IoT (NB-IoT) chipset market growth is gaining momentum, owing to multiple benefits associated with the technology such as low power consumption of user devices, high system capacity, and enhanced spectrum efficiency for deep coverage of an area.

Currently, costs of NB-IoT chipset are as similar to Global Systems for Mobile (GSM) and General Packet Radio Service (GPRS). However, these are expected to reduce significantly with growing demand.

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Rise in adoption of IoT devices and increase in internet penetration is the prime factors that drive growth of the narrowband IoT (NB-IoT) chipset industry. Furthermore, surge in cellular IoT networks to cover the whole population accelerates the market growth rapidly.

Moreover, it has better penetration in structures and better data rates compared to unlicensed band based standards such as LoRaWAN and Sigfox, which is opportunistic for the market growth. Considering these factors, the narrowband IoT (NB-IoT) chipset market is anticipated to experience steep growth in the future.

Increase in trend of smart cities to facilitate sustainable development globally is expected to offer lucrative opportunity for the expansion of the global narrowband IoT (NB-IoT) chipset market growth during the forecast period.

However, availability of alternative low power wide area (LPWA) technologies such as long-term evolution machine type communication (LTE-M) acts a major restraint of the market. In addition, NB-IoT is used for low-speed applications only, which limits its usage for various high-speed applications such as video surveillance, thus hampering the market growth.

Competitive analysis and profiles of the major narrowband IoT (NB-IoT) chipset market players, such as Huawei Technologies Co. Ltd. (China), Qualcomm Incorporated (U.S.), Intel Corporation (U.S.), Nordic Semiconductor (Norway), Sanechips Co. Ltd. (China), Samsung Group (South Korea), MediaTek Inc. (Taiwan), Sercomm Corporation (Taiwan), u-blox Holding AG (Switzerland), and Sequans Communications S.A.(France) are provided in this report.

Prime Benefits from this Research Report:

• This study comprises analytical depiction of the narrowband IoT (NB-IoT) chipset market size along with the current trends and future estimations to depict the imminent investment pockets.

• The overall narrowband IoT (NB-IoT) chipset market analysis is determined to understand the profitable trends to gain a stronger foothold.

• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.

• The current NB-IoT chipset market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.

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