Global Narrowband Internet Access Services Market – Industry Trends and Forecast to 2029

Global Narrowband Internet Access Services Market, By Component (Network, Module), Deployment (In-Band, Guard-Band, Standalone), Type (Security Solutions, Real-Time Streaming Analytics, Soil Monitoring Solutions, Asset Tracking Solutions, Logistics Tracking Solutions, Smart Parking Management Solutions, Others), Application (Smart Governance, Smart Metering, Smart Buildings, Smart Asset Tracking) – Industry Trends and Forecast to 2029.

Narrowband Internet Access Services Market Analysis and Size

The narrowband Industry is expected to grow significantly due to rapid advancement in the IoT industry and rising interest in new cell correspondence innovation devoted to IoT LPWA applications. The growing demand for route, telematics, and in-vehicle infotainment administrations in the automobile and transportation industries is also driving the narrowband internet access services market.

Data Bridge Market Research analyses that the narrowband internet access services market was valued at USD 3.86 billion in 2021 and is expected to reach the value of USD 38.25 billion by 2029, at a CAGR of 33.20% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Narrowband Internet Access Services Market Scope and Segmentation

Market Definition

The narrowband - Internet of Things (IoT) also known as LTE Cat NB1, is a low force-wide territory network innovation (LPWA) standard that connects a wide range of gadgets and administrations for cell organisation. NB-IoT is appropriate for applications that manage a small amount of rare data movement over a long period of time. Narrowband - IoT operates within an authorised range that provides a safe and solid network while ensuring administration nature.

Global Narrowband Internet Access Services Market Dynamics

Drivers

• Increasing adoption from the wearable devices sector

The increasing global penetration of internet services has fuelled demand for wearable devices. Companies such as Apple, Google, and Samsung are focusing on creating user-friendly wearable devices. Several companies are developing Narrowband-IoT (NB-IoT) chipset-based smart wearable devices to provide value in the health management space. For instance, Sony and Ericsson collaborated to create a wearable device for monitoring glucose levels in diabetic patients. Furthermore, Philips received FDA approval in June 2020 to use its patient monitoring solutions to treat COVID-19 patients.

• Machine-to-machine connectivity

Machine-to-Machine (M2M) communication allows data and information to be transferred between two networked machines while performing a predefined task with little or no human intervention. Manufacturers use M2M connectivity to increase production rates, reduce energy consumption and costs, ensure quality consistency, and remotely monitor equipment. The increasing use of M2M communication in the manufacturing industry as part of the smart industry or Industry 4.0 is influencing the use of Narrowband-IoT (NB-IoT)-based devices.

Opportunity

• Cost effectiveness and rapid modernization

Increasing demand for low-power, low-cost, and long-range connectivity technologies, expanding applications of NB-IoT technology, and rising industry participation in NB-IoT development are among the major factors driving the narrowband internet access services market. Furthermore, emerging smart cities, smart buildings, and modernization will create new opportunities for the narrowband internet access services market during the forecast period.

Restraints

• Privacy and security concerns

However, stiff competition from other LPWA technologies and rising privacy and security concerns are among the major factors that will limit market growth and further challenge the narrowband internet access services market during the forecast period.

This narrowband internet access services market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the narrowband internet access services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Narrowband Internet Access Services Market

The spread of COVID-19 has significantly impacted the manufacturing and process industries. With unexpected force and speed, nationwide lockdowns are freezing the economy. Unemployment is rising much faster than it did during the 2008 recession, which is expected to harm the global economy. Although COVID-19 has slowed the adoption of Narrowband-IoT (NB-IoT) technology in various regions, the impact of COVID-19 on Narrowband-IoT (NB-IoT) is minor, as the technology is still in its early stages in many regions. On the other hand, the pandemic has highlighted the importance of long-term communication in business processes in mitigating control measures' economic and industrial shock.  For example, COVID -19-induced supply chain lockdowns have increased demand for end-to-end visibility and traceability, which can be effectively delivered using Narrowband-IoT (NB-IoT) by providing companies with line-of-sight to assets in transit, the ability to monitor cold chain conditions, and track utilisation across the entire ecosystem.

Recent Development

• In February 2019 Nordic Semiconductor's recently launched nRF9160 System-in-Package (SiP) LTE-M/NB-IoT cellular IoT (CIoT) module was among the first to be awarded PSA Certified Level 1 certification as part of a new IoT security initiative spearheaded by Arm.
• In February 2019, du, a commercial rebranding of the UAE-based Emirates Integrated Telecommunications Company (EITC), announced the launch of a next-generation NB-IoT network in the UAE, in collaboration with Nokia (Finland), Affirmed Networks (U.S.), and MediaTek.

Global Narrowband Internet Access Services Market Scope

The narrowband internet access services market is segmented on the basis of component, deployment, type and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

• Network
• Module

Deployment  

• In-Band
• Guard-Band
• Standalone

Type

• Security Solutions
• Real-Time Streaming Analytics
• Soil Monitoring Solutions
• Asset Tracking Solutions
• Logistics Tracking Solutions
• Smart Parking Management Solutions
• Others

Applications

• Smart Governance
• Smart Metering
• Smart Buildings
• Smart Asset Tracking

Narrowband Internet Access Services Market Regional Analysis/Insights

The narrowband internet access services market is analysed and market size insights and trends are provided by country, component, deployment, type and application as referenced above.

The countries covered in the narrowband internet access services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the narrowband internet access services market because of rising disposable income, a growing tech-savvy population, and the continued adoption of emerging technologies for personal and business applications.

Asia-Pacific is the expected region for growth in the narrowband internet access services market due to increasing internet penetration, a growing number of smart city initiatives, and rising levels of disposable income in this region,

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Narrowband Internet Access Services Market Share Analysis

The narrowband internet access services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to narrowband internet access services market.

Some of the major players operating in the narrowband internet access services market are:

• SES S.A. (Luxembourg)
• Inmarsat Global Limited (U.K.)
• Iridium Communications Inc. (U.S.)
• Viasat, Inc. (U.S.)
• EchoStar Corporation (U.S.)
• EarthLink LLC (U.S.)
• Intelsat (U.S.)
• EUTELSAT COMMUNICATIONS SA (France)
• ST Engineering iDirect, Inc. dba iDirect (U.S.)
• Singtel (Singapore)
• KVH Mobile World. (U.S.)
• SpeedCast (U.S.)
• Gilat Telecom (Uganda)
• Skycasters, LLC. (U.S.)
• Hispasat (Spain)
• China Telecom Global Limited (China)
• China Unicom (Hong Kong) Limited. (China)
• Nippon Telegraph and Telephone East Corporation (Japan)
• AT&T Intellectual Property. (U.S.)
• Deutsche Telekom AG (Germany)
• Verizon (U.S.)
• Cambium Networks, Ltd. (U.S.)
• Intracom Telecom (Greece)