Narrowband IoT (NB-IoT) Chipset Industry 2021 – 2030

Narrowband IoT (NB-IoT) Chipset Market Expected to Reach $22.10 Billion by 2030

WILMINGTON, DELAWARE, UNITED STATES, June 4, 2024 /EINPresswire.com/ -- The global narrowband IoT (NB-IoT) chipset market size is expected to witness exponential growth, owing to a surge in the adoption of IoT devices with more efficient network options. In addition, considerable investments in developing improved IoT devices by the market players propel the market growth during the forecast period. Allied Market Research, titled, “Narrowband IoT (NB-IoT) chipset Market by Component, Deployment, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the narrowband IoT (NB-IoT) chipset industry size was valued at $425.0 million in 2020, and is projected to reach at $22,105.6 million by 2030, growing at a CAGR of 52.1% during the forecast period.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/A09846

Narrowband IoT (NB-IoT) chipset boasts power efficiency, which is a key aspect in low-power IoT networks. It assists in meeting the requirements of extended coverage of a particular area, especially in rural and deep indoors. The chipset allows device manufacturers to develop low-power, cost-sensitive connected devices at a global scale to monitor, manage, and control critical infrastructure, medical devices, logistic trackers, and a large variety of LPWA applications.

The key driving forces of the global narrowband IoT (NB-IoT) chipset industry are the rise in the adoption of IoT devices and the surge in penetration of cellular IoT networks. However, the availability of alternative low power wide area (LPWA) technologies such as long-term evolution machine type communication (LTE-M) hampers the adoption of NB-IoT technology, thereby restraining the global market growth. Moreover, NB-IoT can be used only in low-speed applications, which limits its use in high-speed applications, thus acting as a major barrier to the narrowband IoT (NB-IoT) chipset market growth. On the contrary, an increase in the trend of smart cities to enhance sustainable development is anticipated to create lucrative opportunities for market growth during the forecast period.

The hardware segment was the highest contributor to the market in 2020, owing to a higher rate of adoption of the NB-IoT chipset. The guard segment acquired a prominent share in the market in 2020, as NB-IoT accommodates bandwidth reserved in the guard band of existing LTE networks. By application, the alarms & detectors segment acquired the maximum share in 2020, owing to higher demand for alert systems. In addition, the infrastructure garnered a significant share in 2020, owing to the development of smart cities.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A09846

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The Narrowband IoT (NB-IoT) Chipset industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐍𝐚𝐫𝐫𝐨𝐰𝐛𝐚𝐧𝐝 𝐈𝐨𝐓 (𝐍𝐁-𝐈𝐨𝐓) 𝐂𝐡𝐢𝐩𝐬𝐞𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,

U-blox Holding AG
MediaTek Inc.
Huawei Technologies Co. Ltd.
Nordic Semiconductor
Samsung Group
Qualcomm Incorporated
Sercomm Corporation
Intel Corporation
Sanechips Co. Ltd.
Sequans Communications S.A.

The global lockdown has negatively impacted the potential demand for infrastructure projects of highways, streets, and smart cities around the globe. The disruption due to the pandemic resulted in declined investments in smart cities, installation of smart meters, or smart street lighting. Moreover, a significant decline has been witnessed in the automotive & transportation sectors due to the unavailability of raw materials and workers. However, the NB-IoT chipset market growth is expected to be regained with an increasing vaccination drive globally.

Region-wise, Asia-Pacific holds a significant share in the global narrowband IoT (NB-IoT) chipset market. China holds a major market share, owing to an increase in investments to develop NB-IoT networks. China is predicted to lead the NB-IoT chipset market, due to the presence of leading mobile operators such as China Unicom and Huawei Technologies.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A09846

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

- In 2020, the hardware segment accounted for maximum revenue and is projected to grow at a notable CAGR of 52.1% during the forecast period.
- The alarms & detectors segment garnered more than 25% of the narrowband IoT (NB-IoT) chipset market share in 2020.
- The healthcare segment is projected to grow at a CAGR of 54.4% during the forecast period.
- Asia-Pacific contributed a major share in the narrowband IoT (NB-IoT) chipset market, accounting for more than 35.0% share in 2020.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports consider significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
+ 18007925285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.