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Narrowband IoT (NB-IoT) Chipset Market (Deployment - Stand-alone, In-band, and Guard Band; Device - Smart Meters, Smart Appliances, Trackers, Alarms and Detectors, Wearable Devices, and Others; End-user - Agriculture, Automotive and Transportation, Energy and Utilities, Healthcare, Consumer Electronics, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : August, 2021

  • Rep Id : ICT00284

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on narrowband IoT (NB-IoT) chipset market provides in-depth analysis of segments and sub-segments in the global as well as regional narrowband IoT (NB-IoT) chipset market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional narrowband IoT (NB-IoT) chipset market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global narrowband IoT (NB-IoT) chipset market. According to the report, the global narrowband IoT (NB-IoT) chipset market is projected to grow at a CAGR of 41.22% over the forecast period of 2021-2027, growing from nearly USD 455 million in 2020 to about USD 5,053 million in 2027.

 

Market Insight

Narrowband IoT (NB-IoT) chipset is an integral part of the IoT devices that enables an NB-IoT network and a Low-Power Wide-Area Network (LPWAN). The NB-IoT chip improves the power consumption, system capacity, and spectrum efficiency of the devices. Moreover, with NB-IoT chips, the prices of IoT devices drop significantly. The lower price of the NB-IoT chip is attributed to the underlying technology which is much simpler than the current GSM/GPRS technology. Such advantages of NB-IoT have propelled its popularity among various end-use industries. The players in the market are focusing on developing innovative products to boost growth.

 

The spread of the COVID-19 pandemic had a fairly positive impact on the global NB-IoT chipset market over the short term as well as the long term. The sale of IoT consumer devices suddenly dropped for the second quarter of 2020. However, it increased drastically over the third, and fourth quarters of 2020. Many people were stuck inside their homes, so they spend on smart appliances such as smart-home speakers, smart washing machines, smart ACs, and smart lights. Moreover, several industries adopted automation during the pandemic due to concern over infection and labor shortage. The smart appliances and industrial automation machines have NB-IoT chipset inside them. Thus, the increased sale of smart appliances and higher adoption of industrial automation augmented the growth of the NB-IoT chipset market during the pandemic. However, the production of the NB-IoT chipset was hampered severely during the period of the COVID-19 pandemic. Government restrictions coupled with lack of labor during the pandemic dropped the production of the NB-IoT chipsets. Nevertheless, as the pandemic crisis subside, the production of the NB-IoT chipset came back to a pre-pandemic state.

 

The increasing demand for smart manufacturing and the growing adoption of IoT technology boosts the market growth. NB-IoT provides reliable networks and offers excellent secure connections for IoT devices by assimilating security into the network architecture. Moreover, the increase in demand for data processing is further driving the NB-IoT chipset market growth. The collected data is processed through sensors and real-time tracking of business operations across numerous industrial sectors. The sensors and tracking devices are integrated with the NB-IoT chipset. Furthermore, providing back operations that require real-time access to data changes instantly and augments the demand for ultra-low latency from various sectors. This, in turn, is likely to boost the market growth for the NB-IoT chipset. On the other hand, high upfront costs for infrastructural establishment are the major restraining factors for market growth. Nonetheless, the changing consumer landscape and business environment are expected to offer promising opportunities to the market in the near future.

 

Among the geographies, the North America region accounted for the largest share in the global NB-IoT markets owing to a rise in strategic trails to launch IoT technologies and equipment in this region. Furthermore, OEMs across the North America region are anticipated to offer numerous solutions to their IoT infrastructures. This has offered a positive approach toward commercializing IoT networks. However, the Asia Pacific region is projected to grow at the highest rate in the global NB-IoT markets over the projection period. This is accredited to a continuous increase in penetration of smartphones and an increase in demand for narrow bandwidth applications that induces wireless network service providers to deploy 5G technology in their network.

 

Segment Covered

The report on global narrowband IoT (NB-IoT) chipset market covers segments such as deployment, device, and end-user. On the basis of deployment, the sub-markets include stand-alone, in-band, and guard band. On the basis of device, the sub-markets include smart meters, smart appliances, trackers, alarms and detectors, wearable devices, and others. On the basis of end-user, the sub-markets include agriculture, automotive and transportation, energy and utilities, healthcare, consumer electronics, and others.

 

Narrowband IoT (NB-IoT) Chipset Market


Companies Profiled:

The report provides profiles of the companies in the market such as Qualcomm Incorporated, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., Samsung Group, Intel Corporation, U-Blox Holding AG, Vodafone Group PLC, Nordic Semiconductor ASA, Sanechips Technology Co., Ltd, and Sequans Communications SA.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of narrowband IoT (NB-IoT) chipset market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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