Narrowband IoT (Internet of Things) Chipset Market
Narrowband Internet of Things (NB-IoT) is a low-power wide area network (LPWAN) wireless technology standard that enables a wide range of devices and services to be connected using cellular communication bands. NB-IoT chipsets are essential components that facilitate communication between IoT devices and networks, offering benefits such as low power consumption, extended coverage, and high connection density. These features make NB-IoT ideal for applications such as smart cities, agriculture, healthcare, utilities, and transportation.
The narrowband Internet of Things (IoT) chipsets market (Markt fรผr Schmalband-Internet-of-Things-Chipsรคtze (IoT) ) is projected to reach a valuation of USD 2.2 billion by the end of 2031. The report further states that the market is expected to grow at a compound annual growth rate (CAGR) of 23.4% throughout the forecast period from 2022 to 2031.
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Narrowband is predicted to drive the growth of IoT connectivity, especially in areas where enhanced indoor coverage, high connection density, extended battery life, and low-cost smart devices are critical. These networks handle small amounts of irregular bidirectional transmission data in a more reliable and secure manner. The technology is considered well suited to communicating with devices that require small amounts of data over long periods of time, which are typical of devices connected to IoT networks.
Key companies operating in the global narrowband Internet of Things (IoT) chipsets market are Huawei Technologies, u-blox Holding AG, Nordic Semiconductor, Samsung, MediaTek, Sercomm, Sequans Communications, Qualcomm, Inc., Verizon Communications, Inc., Altair Semiconductor, Vodafone Group Plc, Intel Corporation, and Ericsson.
Market Segmentation
Expand
Guard Band
In-band
Standalone
application
Smart Meter
Wearables
Tracker
Vehicle Telematics
Smart City
Building Automation
Smart Home Appliances
Other equipment (medical equipment, environmental monitoring equipment)
By region
North America
Europe
Asia Pacific
latin america
Middle East and Africa
Market Drivers and Challenges
driver
Increasing adoption of IoT: There is an increasing use of IoT devices across industries for automation, monitoring, and optimization.
Demand for low-power connectivity: The need for low-power, wide-area connectivity solutions to support a large number of devices with minimal energy consumption.
Expanding Smart City Projects: Government initiatives and investments in smart city projects will boost the adoption of NB-IoT solutions.
assignment
High initial deployment costs: The costs associated with developing and deploying NB-IoT infrastructure are significant.
Technical limitations: Ensuring reliable connectivity and coverage in diverse and complex environments is a challenge.
Regulatory and standardization issues: Different regulatory frameworks and lack of standardization are affecting the global adoption of NB-IoT technology.
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Market trend
Integration with 5G: Better integration of NB-IoT with 5G networks to enhance connectivity and support more devices.
Advances in semiconductor technology: Development of advanced NB-IoT chipsets that offer improved performance, smaller size, and lower power consumption.
Focus on sustainability: There is a focus on developing energy-efficient and environmentally friendly IoT solutions.
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