The
report "Narrowband
IoT (NB-IoT) Chipset Market by Device (Smart Meters, Smart Parking, Smart
Street lighting), Deployment Type (Guard, In-Band, Stand-Alone), Vertical
(Energy & Utilities, Infrastructure, Building Automation), and Region -
Global Forecast to 2024" According to the latest market research report,
the NB-IoT chipset market is expected to grow from USD 272 million by 2019 to
USD 2,002 million by 2024 at a CAGR of 49.1%. In terms unit shipments, the
NB-IoT chipset market is estimated to stand at 78 million units by 2019 and is
projected to register 871 million units by 2024 at a CAGR of 61.9%.
Guard band deployment to hold largest
size of NB-IoT chipset market during forecast period
The
guard band segment is expected to hold the largest size of the NB-IoT chipset
market from 2019 to 2024. Various benefits such as no additional spectrum cost,
reuse of antenna and RF modules of existing infrastructure, and no need for
frequency planning are the prime factors resulting in the adoption of
guard-band deployment model. Moreover, certain limitations of in-band
deployment, such as interference, restrict its coverage area; this leads to a
higher deployment potential for guard band type.
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Wearables devices to witness highest
CAGR in NB-IoT chipset market from 2019 to 2024
The
wearable devices segment is expected to foresee the highest CAGR in the overall
market throughout the forecast period. The M2M and IoT market for wearable
devices is expected to grow at a high rate with the development of new products
and greater customer engagement. The growing market for wearable devices across
healthcare, entertainment, sports and fitness, and other sectors is driving the
demand for low-power and highly secure cellular networks.
APAC leads NB-IoT chipset market in
terms of value and volume
APAC
is projected to account for the largest size of the NB-IoT chipset market throughout
the forecast period. The increased adoption of new technologies and
advancements in organizations across various industries are among the key
factors driving the market growth in this region. China is leading the NB-IoT
chipset market with the lions share of ~93% in 2018 and is expected to continue
its dominance during the forecast period. In China, the leading mobile
operators such as China Mobile and China Unicom are using NB-IoT technologies
to connect millions of devices across the country. Moreover, strong federal
support is further fueling the growth of the NB-IoT chipset market in the
country. For instance, the Ministry of Industry and Information Technology
(MIIT) of China intends to develop 600 million NB-IoT connections across the
country by 2020. Furthermore, with development of new NB-IoT-based use
cases—such as smart parking, smart waste management, and environmental
monitoring—and introduction of dual-mode NB-IoT/LTE-M chipset, the NB-IoT
chipset market in western world, especially in the UK, the US, and France, is
also set to grow in the coming years.
The
major companies profiled in this report are Huawei Technologies Co. Ltd.
(China), Qualcomm Incorporated (US), Intel Corporation (US), Nordic
Semiconductor (Norway), Sanechips Co. Ltd. (China), Samsung Group (South
Korea), MediaTek Inc. (Taiwan), Sercomm Corporation (Taiwan), Xiamen Cheerzing
IOT Technology Co. Ltd. (China), u-blox Holding AG (Switzerland), Telit
Communications PLC (UK), Quectel Wireless Solutions Co., Ltd (China), and Sequans
Communications S.A.(France), among others.
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