The Global Narrowband IoT Chipset Market Is Expected To Grow At A CAGR Of 39.9%

Zion Market Research has published a new report titled “Narrowband IoT Chipset Market By Component (Hardware, Software, and Services), By Deployment (Guard, Stand-Alone, and In-Band), By Application (Trackers, Alarms and Detectors, Smart Street Lighting, Wearable Devices, Smart Meters, Smart Appliances, Smart Parking, and Others), and By Vertical (Consumer Electronics, Energy & Utilities, Building Automation, Healthcare, Infrastructure, Agriculture, Automotive & Transportation, and Safety & Security): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024–2032”. According to the report,The global Narrowband IoT Chipset market size was valued USD 1.28 billion in 2023 and is expected to rise to USD 26.20 billion by 2032 at a CAGR of 39.9%.

An LPWAN technology that does not work in a licensed Long Term Evolution (LTE) construct is known as Narrowband IoT (NB IoT) technology or LTE-M2. On a resource block, a separate resource block is allocated for NB-IoT operations.

Browse the full “Narrowband IoT Chipset Market By Component (Hardware, Software, and Services), By Deployment (Guard, Stand-Alone, and In-Band), By Application (Trackers, Alarms and Detectors, Smart Street Lighting, Wearable Devices, Smart Meters, Smart Appliances, Smart Parking, and Others), and By Vertical (Consumer Electronics, Energy & Utilities, Building Automation, Healthcare, Infrastructure, Agriculture, Automotive & Transportation, and Safety & Security): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024–2032” Report at https://www.zionmarketresearch.com/report/narrowband-iot-chipset-market

The worldwide emerging demand for low-powered, low-ranged, and inexpensive technology is primarily driving the narrowband IoT chipset market. Developing power-efficient IoT devices is among the most critical tasks and NB IoT chipsets are highly preferred in such cases. NB IoT devices save power when they are not in operation mode, as they mainly draw energy while the modem is running. As NB-IoT chipsets are developed based on simple configurations, they are comparatively inexpensive and are given utmost priority while deployment. This is another main factor fuelling the narrowband IoT chipset market. However, the intense competition faced by the leading market players from various other low-power wide-area networks (LP WAN) may hinder the narrowband IoT chipset market growth.

The narrowband IoT chipset market is fragmented on the basis of component, deployment, application, and vertical. By component, the market is classified into services, hardware, and software. The increasing number of applications of NB-IoT chipset worldwide is driving the services segment. The hardware segment is estimated to account for a substantial market share in the future. The deployment segment includes guard, stand-alone, and in-band. The guard band segment accounts for a significant market share globally, due to its numerous advantages over in-band and standalone, such as it reutilizes already existing RF module frequency without any additional setup. By application, the narrowband IoT chipset market includes alarms and detectors, smart parking, trackers, wearable devices, smart street lighting, smart appliances, smart meters, and others. Smart meters account for a significant market share globally, owing to the increasing adoption rate of electricity, gas, and water meters. The vertical segment of the market includes consumer electronics, automotive and transportation, building automation, healthcare, infrastructure, energy and utilities, agriculture, and safety and security.

The Asia Pacific narrowband IoT chipset market held a predominant share globally in 2018, due to the rising adoption and penetration of advanced technologies. In the Asia Pacific, China witnessed the highest demand for narrowband IoT chipsets and dominated the regional market for narrowband IoT chipset.

Some prominent players of narrowband IoT chipset market are Qualcomm, Samsung, Sequans Communications, Altair Semiconductor, Nordic Semiconductor, Sercomm, u-blox, Cheerzing, ZTE, RDA, MediaTek, Riot Micro, Huawei, and CommSolid.

This report segments the global narrowband IoT chipset market into:

Narrowband IoT Chipset Market: Component Analysis

• Hardware
• Software
• Services

Narrowband IoT Chipset Market: Deployment Analysis

• Guard
• Stand-Alone
• In-Band

Narrowband IoT Chipset Market: Application Analysis

• Trackers
• Alarms and Detectors
• Smart Street Lighting
• Wearable Devices
• Smart Meters
• Smart Appliances
• Smart Parking
• Others

Narrowband IoT Chipset Market: Vertical Analysis

• Consumer Electronics
• Energy and Utilities
• Building Automation
• Infrastructure
• Healthcare
• Agriculture
• Automotive and Transportation
• Safety and Security

Narrowband IoT Chipset Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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