The global Narrowband IoT Chipset Market is predicted to grow at a steady rate during the forecast period from 2017 to 2025.
Driving Factors for 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, advanced coverage and increasing number of devices
- Rising demand for long range network connectivity
- Spreading application of narrowband IoT chipset in smart infrastructures
|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|
|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|
Narrowband IoT Chipset Market - Introduction
NB‑IoT or Narrowband IoT is one of the new ways of communicating with “things” which 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, 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, growing demand for long range connect and rise in the network-enabled devices is stimulating the market for narrowband IoT chipset market globally. Narrowband IoT technology helps to 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.
|Base Year of Estimation||2016|
|Value Estimation Year||2017|
|Forecast Period||2017 - 2025|
|Market Segmentations||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|
A radio technology standard is known as LPWAN (low-power wide area network) or narrowband IoT chipset. These technologies are primarily developed to enable wide of services and devices to be connected with each other with the help of cellular telecommunications bands. Narrowband radio technology is primarily designed and developed for the Internet of Things (IoT). It is one of a range of Mobile IoT (MIoT) technologies which is standardized by the 3GPP (3rd Generation Partnership Project (3GPP).Narrowband IoT technology primarily focuses on low cost, indoor coverage, long battery life, and moreover, 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 field of the internet of things is pushing the growth of narrowband IoT chipset market globally.
Increasing number of fraudulent activities in different industries is another major reason behind the growing application of narrowband IoT chipset globally. Increasing application of narrowband IoT chipset in tracking devices is contributing to the development of the market. Low cost in terms of deployment, low power consumption, advanced coverage and growing number of devices which are connected, compared to cellular and other wireless networks are some of the factor pushing the growth of narrowband IoT chipset market globally. Additionally, rising demand for long range network connectivity is another key reason behind the growth of narrowband IoT chipset market across different regions globally. There are some of the challenges of the narrowband IoT chipset which include low connectivity speed and data transmission along, low standardization and security and privacy issues may inhibit the growth of this market. However, spreading application of narrowband IoT chipset in smart buildings and infrastructures and in different consumer electronics are some of the prime opportunities in the narrowband IoT chipset market globally.
North America accounted for the largest share of the narrowband IoT chipset market in 2016, followed by Europe and Asia-Pacific. The U.S. held the leading position across North America. Increasing government initiative towards increasing the application of smart technologies across different industries, smart buildings and infrastructures are one of the prime reasons behind the growing demand for narrowband IoT chipset across North America. Narrowband IoT market is anticipated to register robust growth across Asia Pacific owing to its rising application in economies like China, Japan, India, and Australia among others. The U.K., Italy, and France are contributing to the growth of Narrowband IoT chipset market across Europe. Brazil, Argentina, U.A.E and South Africa are anticipated to experience moderate growth owing to increasing industrialization and growing research and development activities focusing on smart technologies and its applications in different end-use industries across Latin America, Middle East, and Africa.
By deployment type, the narrowband IoT chipset market is segmented into standalone, guard band, in-band. By device type, the market is segmented into smart appliances, trackers, wearable devices, alarms and detectors, smart meters among others. By end-use industry, the market is segmented into healthcare, telecommunication, industrial, infrastructure, building automation, retail, energy, transportation among others. In term of revenue, guard band is leading the market as deployment technique segment in 2016. In term of revenue, detectors and alarm is leading the market as device type segment in 2016. Moreover, infrastructure and transportation industry is leading the market for narrowband IoT chipset market in terms of end use industry owing to increasing application of sensors, alarms and different sort of detectors across smart buildings, infrastructure, and transportation industry. Increasing telematics and infotainment applications is fueling the market for narrowband IoT chipset market globally.
By geography, the market has been segmented into North America, Latin America, Asia Pacific, Middle East & Africa (MEA) and Europe. In terms of revenue, North America accounted for the largest market share of the IoT chipset market in 2016.
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.
Considering the increasing demand for long range device connectivity and rising concern towards safety and security different industries and increasing number of fraudulent activities, for instance, missing consignment, shipment and theft and growing requirement for tracking devices are fueling the demand for narrowband IoT chipset market globally.
|KEY QUESTIONS ANSWERED BY THE REPORT|
|What will be the nature of growth of the market till 2025?|
|What are the major push factors that will affect the growth of the market?|
|What are the growth possibilities in different segments of the market?|
|Who are the leading market players?|
|What are the key strategies implemented by the market leaders to sustain growth in the market?|
|What are the major restraining factors for the market?|
|What are the ways to generate new revenue streams?|
|In-depth analysis of the competitive landscape and competitor behavior in the market|
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