Narrowband Internet-Of-Things Chipset Market shall reach a value of $2x61.4 Million in 2027, growing with a CAGR of 12.13% during the forecast period of 2020 to 2027.
Narrowband Internet-Of-Things Chipset Market Growth and Trends
The Narrowband Internet Chipset chipset market is expected to grow from USD 461 million by 2020 to USD 2,484 million by the end of 2025 with a compound annual growth rate of 40.0%. during its forecast period. In the unit shipping Sector it is expected to reach a further compound annual growth rate of 54.5% by 2025
Some factors driving the growth of this market include:
• The number of Narrow band applications diversifying along with enhancements in technology
• The rising number of strategic players in the market who are foreseeing a vast development in the market with new ideas and marketing strategies
• The increasing adoption of Narrow band internet connections along with the large numbers of devices arising as a result of technological advancements that fuels the growth of the market
• The rising demand for devices that are wearable due to reasons like the pandemic outbreak which will further enrich the market’s growth
• The increase in M2M Communication systems incorporated in the several technological applications, majorly in the industrial sector
• Increased utilization by industries like consumer electronics, retail and healthcare that has largely driven the economic growth rate of the market
• The cost-efficiency of sensors to generate data which also builds up these systems which has facilitated the market rise amongst organizations
• The ability to perform efficient tasks due to its smooth communications, improved connectivity and low power requirements with growing sustainable implementations for a green environment without pollution
• The increasing demand for devices that comprise of vast rates of long-range connectivity that drives the market drive for devices like smart meters and monitoring devices
• The ability to add digital intelligence to urban, conventional systems providing utilizable insights to all end-users and for the modernization of technological aspects in rural areas as well
• The ability to increase the progress of functional areas like resource allocation, power and transportation that plays a significant role in the growth of the market
• The ability to backup commanding network coverages in poor connectivity regions
• The prominent need for cellular networks in industrial sectors
• Low component costs that further increase the growth in the narrowband internet chipset market
• The optimized utilization of this market in energy and utility sectors to carry out efficient performance tasks without disruptions
• High reliability at low component costs with less power consumption. Thus, both power and energy are conserved
Challenges:
Some challenges faced by the market includes:
• The declining availability of connectivity hardware which rises at a slower pace that is majorly hampering the market growth
• Competitive industries having the ability to develop new technologies in the market with similar and stronger capabilities that limit the growth of the narrowband internet chipset market
• Lack of standardization thus providing less abundancy for the market’s organizations
• The fragmentation of the market by nature
• The excess technological dependency in building the market’s applications that will pause the economic growth rate of the market
• The rising surge for internet penetration that brings up more marketing competitors thus, levelling down its growth
• Increasing employment opportunities which will not be given to highly talented candidates due to increased technological dependency in this market
• Restricted coverage area that would disable some companies from utilizing narrowband connections resulting in less productivity
Narrowband Internet-Of-Things Chipset Industry Regional Analysis
Narrowband Internet-Of-Things Chipset Market Research Report Scope/Definition
For this market research report, narrowband internet of things chipset is defined as a wireless technology that supports various devices to connect across cellular telecommunication bands. Due to this less-power technology, narrowband internet of things has been mainly applied in devices that operate using small data rates. NB-IoT chipsets are used in various applications like fire alarms, tracking persons, facility management, and smart meters. The key advantages of narrowband IoT chipsets are the ease of integration as a simple addition in new software to the existing LTE infrastructure, resulting in increased growth, global roaming, economies of scale, and many others. The narrowband IoT chipset demand is growing fast because of cloud computing technologies like the in-band operations, guard band, and the IoT-based device standalone operations. This technology supports low-battery usage, more comprehensive coverage, and less device complexity than other conventional technologies.
Narrowband Internet-Of-Things Chipset Market Share and Competition
Key companies operating in this industry are: Huawei, Qualcomm, Intel, Nordic Semiconductor, Sanechips, Samsung, MediaTek, Sercomm, Cheerzing, u-blox, Telit Communications, Quectel, and Sequans Communications.
Narrowband Internet-Of-Things Chipset Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Deployment Analysis (Revenue, USD Million, 2021 - 2028)
• Stand-Alone
• Guard Band
• In-Band
Device Analysis (Revenue, USD Million, 2021 - 2028)
• Smart Parking
• Smart Meters
• Trackers
• Alarms and Detectors
• Smart Streetlights
• Smart Appliances
• Wearable Devices
• Other Devices (connected healthcare devices and environment monitoring devices)
Vertical Analysis (Revenue, USD Million, 2021 - 2028)
• Agriculture
• Automotive and Transportation
• Energy and Utilities
• Healthcare
• Manufacturing
• Safety and Security
• Infrastructure
• Building Automation
• Consumer Electronics
Region Analysis (Revenue, USD Million, 2021 - 2028)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Narrowband Internet-Of-Things Chipset Industry Companies
• Huawei
• Qualcomm
• Intel
• Nordic Semiconductor
• Sanechips
• Samsung
• MediaTek
• Sercomm
• Cheerzing
• u-blox
• Telit Communications
• Quectel
• Sequans Communications
Available Versions of Narrowband Internet-Of-Things Chipset Market: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report
