According
to the new market research report "Narrowband IoT Chipset Market by Offering
(Hardware, Software), Device (Alarms & Detector, Smart Appliance, Tracker,
Smart Meter, Wearable), Deployment Type (guard, in-band, standalone), End-Use
Application, & Geography - Global Forecast to 2022", the market is expected to grow from USD
16.7 Million in 2017 to USD 181.02 Million by 2022, at a CAGR of 61.06% during
the forecast period. The factors driving the NB-IoT chipset market are increasing adoption of IoT
and growth in network-enabled devices, demand for long-range connectivity, and
growing need for low-power and low-cost connectivity technology.
Infrastructure market to hold the
largest share of the NB-IoT chipset market
Emerging
NB-IoT technology is expected to deliver an affordable and power-efficient way
to connect battery-operated devices to Internet. From smart lighting to smart
parking and smart utilities, the NB-IoT can help in connecting devices more
efficiently than existing technology. Huawei (China) and Vodafone (U.K.) have
successfully completed their NB-IoT trial for smart parking in Spain and
Turkey.
Alarms & detector devices are
expected to drive the growth of the NB-IoT chipset market
The
usage of safety alarms and detectors is increasing across several end-use
applications, such as building automation, healthcare devices, smart
infrastructure, automotive, and so on. Sensors have been effectively deployed
in many applications for monitoring purposes and since NB-IoT provides large
coverage and low data rate transmission, it is expected to be widely adopted by
these industries for alarm & security purpose.
North America to hold the major market
share for NB-IoT chipset during the forecast period
North
America comprising the U.S., Mexico, and Canada dominated the NB-IoT chipset
market. The U.S. is major contributor to the growth of the NB-IoT chipset
market in North America. Presence of major companies such as Qualcomm Inc.
(U.S.), Verizon Wireless (U.S.), AT&T Inc. (U.S.) who are working towards
commercialization of NB-IoT connectivity is the major factor driving the market.
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The
major players in the narrowband IoT
market are Huawei Technologies Co. Ltd. (China), Ericsson (Sweden),
Vodafone Group PLC (U.K.), Qualcomm Incorporated (U.S.), Intel Corporation
(U.S.), Samsung Group (South Korea), Nokia Networks (Finland), Verizon
Communication (U.S.), CommSolid GmBH (Germany), U-Blox Holding AG (Switzerland),
Sequans Communications S.A. (France) and MistBase AB (Sweden).
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