Narrowband IoT Chipset Market – Global Industry Analysis, Market Size Estimation and Growth Forecast By Deployment Type (Standalone, Guard Band and In-Band), By Device Type (Smart Appliances, Trackers, Wearable Devices, Alarms and Detectors, Smart Meters), By End Use Industry (Healthcare, Telecommunication, Infrastructure, Building Automation, Retail, Energy, Transportation Industrial) & By Regions (North America, Asia Pacific, Europe, Middle East & Africa and Latin America), 2022 – 2032

In 2021, the global narrowband IoT chipset market was worth US $410 million, and by 2032, it is projected to be worth US $22.25 billion.

Narrowband IoT Chipset Market – Introduction

NB-IoT or Narrowband IoT is a new way of communicating with “things” that demand small amounts of data over long periods in hard-to-reach places. It is also known as LPWA or low power wide area technology which virtually works anywhere. This technology easily establishes connections between devices and handles a small amount of data reliably and securely. Low power consumption, low component cost, reliable and secure network, and easy deployment into already existing cellular network architecture, among others, are some of the major attributes of narrowband IoT technology.

The growing advent of IoT, demand for long-range connections, and rise in the network-enabled devices are stimulating the market for the narrowband IoT chipset market globally. Narrowband IoT technology helps connect devices to the Internet of Things (IoT) and makes new advanced applications work properly. Increasing demand for cellular Internet of Things networks is one of the major driving factors for the narrowband IoT chipset market globally.

Report Overview

Aspect	Details
Base year of Estimation	2021
Forecast Period	2022 – 2032
Market Segmentation	By Deployment Type, Device Type, End Use Industry, Geography
Regional Scope	North America, Latin America, Asia Pacific, Middle East & Africa (MEA) and Europe
Report Coverage	Technology Analysis, Market Dynamics, Market Trends, Segmentation Overview and Competitive Landscape of the market

Term	Segments
By Deployment Type	Standalone, guard band, in-band
By Device Type	Smart appliances, trackers, wearable devices, alarms and detectors, smart meters among others
By End Use Industry	Healthcare, telecommunication, industrial, infrastructure, building automation, retail, energy, transportation among others
By Geography	North America, Latin America, Asia Pacific, Middle East & Africa (MEA) and Europe

Major Players in the Market

Headquarters	Corporations
The U.S.	Qualcomm Incorporated, Intel Corporation, Verizon Communications, Inc. & others
The U.K.	Vodafone Group PLC & others
Finland	Nokia Networks & others
Sweden	Ericsson & others
China	Huawei Technologies Co. Ltd. & others
South Korea	Samsung Electronics Co. & others
Switzerland	U-Blox Holding AG & others
Germany	CommSolid GmBH & others

What are the driving factors for the growth in the size of the Narrowband IoT Chipset Market?

• Rising number of fraudulent activities in different industries.
• Growing application of narrowband IoT chipset in tracking devices.
• Low cost in terms of deployment, low power consumption, advance coverage and increasing number of devices.
• Rising demand for long range network connectivity.
• Spreading application of narrowband IoT chipset in smart infrastructures.

Technology Analysis

A radio technology standard is an LPWAN (low-power wide-area network) or a narrowband IoT chipset. These technologies are primarily developed to enable a wide of services and devices to be connected with the help of cellular telecommunications bands. Narrowband radio technology is specially designed and developed for the Internet of Things (IoT). It is one of a range of Mobile IoT (MIoT) technologies that is standardized by the 3GPP (3rd Generation Partnership Project (3GPP). Narrowband IoT technology primarily focuses on low cost, indoor coverage, and long battery life, and it helps in enabling a large number of connected devices. The narrowband IoT technology primarily covers the gap between network devices and short-range wireless networks. Increasing technological advancement in the internet of things is pushing the growth of the narrowband IoT chipset market globally.

Market Dynamics

The increasing number of fraudulent activities in different industries is another major reason behind the growing global application of narrowband IoT chipsets. The ever-increasing application of narrowband IoT chipsets in tracking devices contributes to the development of the market. Low cost in terms of deployment, low power consumption, advanced coverage, and the growing number of connected devices compared to cellular and other wireless networks are some of the factors pushing the growth of the narrowband IoT chipset market globally.

Additionally, the rising demand for long-range network connectivity is another key reason behind developing the narrowband IoT chipset market across different regions globally. Some of the challenges of the narrowband IoT chipset include low connection speed and data transmission, low standardization, and security and privacy issues that may inhibit the growth of this market. However, spreading the application of narrowband IoT chipsets in smart buildings and infrastructures and different consumer electronics is a prime opportunity for the narrowband IoT chipset market globally.

Market Trends

North America accounted for the largest share of the narrowband IoT chipset market in 2021, followed by Europe and the Asia Pacific. The U.S. held the leading position across North America. Increasing government initiative toward expanding the application of smart technologies across different industries, smart buildings, and infrastructures is one of the prime reasons behind the growing demand for narrowband IoT chipsets across North America.

The market is anticipated to register robust growth across the Asia Pacific due to its rising application in economies like China, Japan, India, and Australia. The U.K., Italy, and France contribute to the growth of the global market across Europe. Brazil, Argentina, U.A.E., and South Africa are anticipated to experience moderate growth due to increasing industrialization and growing research and development activities focusing on smart technologies and their applications in different end-use industries.

Segmentation Overview

By Deployment Type

The narrowband IoT chipset market is segmented into standalone, guard band, and in-band by deployment type.

By Device Type

By device type, the market is segmented into smart appliances, trackers, wearable devices, alarms and detectors, and smart meters, among others.

By End-use Industry

By end-use industry, the market is segmented into healthcare, telecommunication, industrial, infrastructure, building automation, retail, energy, and transportation. In terms of revenue, the guard band is leading the market as a deployment technique segment. In terms of revenue, detectors and alarm led the market as a device type segment in 2021. Moreover, the infrastructure and transportation industry is leading the narrowband IoT chipset market in terms of the end-use industry due to the increasing application of sensors, alarms, and different detectors across smart buildings, infrastructure, and the transportation industry. Increasing telematics and infotainment applications fuel the market for narrowband IoT chipsets globally.

By Geography

The market has been segmented into North America, Latin America, Asia Pacific, Middle East & Africa (M.E.A.), and Europe. In terms of revenue, North America accounted for the largest market share of the IoT chipset market in 2021.

Competitive Landscape

Vodafone Group plc (The U.K.), Nokia Networks (Finland), Qualcomm Incorporated (The U.S.), Ericsson (Sweden), Huawei Technologies Co. Ltd. (China), Intel Corporation (The U.S.), Samsung Electronics Co. (South Korea), Verizon Communications, Inc. (The U.S.), U-Blox Holding AG (Switzerland) and CommSolid GmBH (Germany) are some of the major operating companies in the narrowband IoT chipset market globally.

Conclusion

Considering the increasing demand for long-range device connectivity and rising concern towards safety and security, different industries and the increasing number of fraudulent activities, such as missing consignment, shipment, and theft, and the growing requirement for tracking devices fuel the demand for narrowband IoT chipset market globally.