- Narrowband internet access services are gaining traction as a reliable connectivity option for devices requiring low data transmission rates and extended battery life
- Technologies such as Narrowband IoT (NB-IoT) and LTE-M are enabling widespread deployment of connected devices, particularly in smart city and remote monitoring applications
- North America dominated the narrowband internet access services market with the largest revenue share of 38.62% in 2024, driven by strong investments in IoT infrastructure and growing demand for low-power wide-area networks (LPWANs) to support smart cities and connected devices
- Asia-Pacific region is expected to witness the highest growth rate in the global narrowband internet access services market, driven by rising digital transformation initiatives, expanding smart city infrastructure, and the increasing adoption of IoT applications across countries such as China, India, and Japan
- The network segment accounted for the largest market revenue share in 2024, driven by the expansion of telecom infrastructure and increasing investments by mobile network operators in NB-IoT compatible architecture. These networks support long-range communication with low power usage, enabling cost-effective service delivery across sectors. Major telecom providers are continuously enhancing their NB-IoT network coverage to cater to smart cities, agriculture, and manufacturing sectors
