Global Narrowband IoT (NB-IoT) Chipset Market: Overview
Narrowband IoT (NB‑IoT) is the new method of communicating with “things” that need limited amounts of data, over long periods, in places that are hard to reach. It is essentially a wireless technology that was standardized by 3GPP in 2016.
Narrowband IoT is considered the best in class low-power wide area (LPWA) technology to facilitate functioning of various new industrial IoT (IIoT) devices, which includes smart parking, wearables, utilities, and industrial solutions. Being a low-power technology, NB-IoT finds use in devices and applications that operate at lower data rates. The technology also extends battery life of devices. The NB-IoT module, which incorporates the NB-IoT chipset, can operate for more than 10 years using a single-cell primary battery.
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Global Narrowband IoT (NB-IoT) Chipset Market: Key Trends
Some of the unique perceived benefits of narrowband IoT are that they consume lesser amounts of power, have superb range in closed areas and underground, can be easily outfitted in existing cellular network architecture, and provide network security and reliability. Because of these advantages they are seeing growing uptake and this in turn is boosting demand for narrowband IoT chipset. Besides, lower component costs too is proving beneficial for the market.
Drawbacks of the market are lack of standardization and steep cost of operating. However, the flourishing Internet of Things (IoT), which will likely have over 30 billion connections by 2020, as per IDC, will provide a major fillip to the market. As the market develops further, existing cellular networks may not be sufficient to service it. In fact, most of the newer IoT connections are industrial IoT (IIoT) solutions that require low power wide area (LPWA) technologies for effective connectivity. This is expected to majorly fuel demand for narrowband IoT chipsets.
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Global Narrowband IoT (NB-IoT) Chipset Market: Market Potential
The global market for narrowband IoT (NB-IoT) chipset can be segmented based on different parameters. By deployment-type, it can be divided into guard band, in-band, and standalone. Depending upon the type of device, it can be divided into trackers, alarms and detectors, smart appliances, wearable devices, smart meters, etc. Depending upon end-use, the market can be segmented into automation and transportation, agriculture, energy, healthcare, retail, manufacturing, safety and security, building automation, and infrastructure.
Global Narrowband IoT Chipset Market: Regional Outlook
Geographically, the main segments of the global market for narrowband IoT (NB-IoT) chipset are Asia Pacific, North America, Europe, and the Rest of the World. North America, among them, is expected to hold most of the share in the market in the years to come because of the thrust on building smart cities. Apart from that, copious number of communication networks on account of high Internet penetration is also expected to boost the market in the region. Going forward, Asia Pacific is also expected to emerge as an attractive market.
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Global Narrowband IoT (NB-IoT) Chipset Market: Competitive Analysis
Big names operating in the global market for narrowband IoT (NB-IoT) chipset market are U-Blox Holding AG, Vodafone Group PLC, MistBase AB, Ericsson, and Huawei Technologies Co. Ltd. The report furnishes valuable information on their big moves, key strategies and strengths, sales and revenues, and prospects going forward. It leverages market-leading analytical tools to help them understand where the opportunity lies for them and how best to avoid pitfalls.