Global Narrowband Internet of Things (IoT) Market, By Component (Network, Module), Deployment Type (Stand-Alone, Guard Band, In-Band), Device (Smart Parking, Smart Meters, Trackers, Alarms and Detectors, Smart Streetlights, Smart Appliances, Wearable Devices, Others), Application Software (Security Solutions, Real Time Streaming Analytics, Soil Monitoring Solutions, Asset Tracking Solutions, Logistics Tracking Solutions, Smart Parking Management Solutions, Others), Technology Services (Professional Services, Managed Services), Smart Applications (Smart Governance, Smart Metering, Smart Buildings, Smart Asset Tracking, Others), End User (Agriculture, Automotive and Transportation, Energy and Utilities, Healthcare, Manufacturing, Safety and Security, Infrastructure, Building Automation, Consumer Electronics), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Narrowband Internet of Things (IoT) Market
The narrowband internet of things (IoT) market size is valued at USD 136,539.9 million by 2028 is expected to grow at a compound annual growth rate of 58.73% in the forecast period of 2021 to 2028. Data Bridge Market Research report on narrowband internet of things (IoT) provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Narrowband IoT helps to connect the devices more simply and proficiently on already established mobile networks. Its demand is increasing owing to several reasons, for instance very lower component cost, low power consumption, network security and reliability among others.
The high deployment flexibility with GSM, WCDMA or LTE is expected to influence the growth of narrowband internet of things (IoT) market over the forecast period of 2021 to 2028. Also the demand for LPWAN use cases across verticals is also anticipated to flourish the growth of the narrowband internet of things (IoT) market. Furthermore, the extended coverage and long battery life and low deployment cost are also likely to positively impact the growth of the Narrowband internet of things (IoT) market. Moreover, the high growth in applications of NB-IoT technology along with advances in artificial intelligence (AI), machine learning (ML) and big data analytics are also expected create a huge demand for narrowband internet of things (IoT) as well as lifting the growth of the narrowband internet of things (IoT) market.
However, the high competition from rival LPWAN technologies and transformation downtime during up gradation of existing base stations are expected to act as the major limitations for the growth of narrowband internet of things (IoT) in the above mentioned forecasted period, whereas the deployment issues and less roaming support and uncertainty in pricing model can challenge the narrowband internet of things (IoT) market growth in the forecast period of 2021 to 2028.
Likewise, the deployment of intelligent devices, emergence of smart cities and smart buildings and rise in need for connectivity in IoT applications are expected to create various new opportunities that will lead to the growth of the narrowband internet of things (IoT) market in the above mentioned forecasted period.
This narrowband internet of things (IoT) 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 of things (IoT) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Narrowband Internet of Things (IoT) Market Scope and Market Size
The narrowband internet of things (IoT) market is segmented on the basis of component, deployment type, device, application software, technology services, smart applications and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the narrowband internet of things (IoT) market is segmented into network and module.
- Based on deployment type, the narrowband internet of things (IoT) market is segmented into stand-alone, guard band and in-band.
- On the basis of device, the narrowband internet of things (IoT) market is segmented into smart parking, smart meters, trackers, alarms and detectors, smart streetlights, smart appliances, wearable devices and others.
- Based on application software, the narrowband internet of things (IoT) market is segmented into security solutions, real time streaming analytics, soil monitoring solutions, asset tracking solutions, logistics tracking solutions, smart parking management solutions and others.
- On the basis of technology services, the narrowband internet of things (IoT) market is segmented into professional services and managed services.
- Based on smart applications, the narrowband internet of things (IoT) market is segmented into smart governance, smart metering, smart buildings, smart asset tracking and others. Smart governance has further been segmented into smart lighting, smart parking, smart waste management and smart traffic management. Smart metering has further been segmented into smart electric, smart gas and smart water. Smart buildings have further been segmented into smart homes and smart offices.
- The end user segment of the narrowband internet of things (IoT) market is segmented into agriculture, automotive and transportation, energy and utilities, healthcare, manufacturing, safety and security, infrastructure, building automation and consumer electronics.
Narrowband Internet of Things (IoT) Market Country Level Analysis
The narrowband internet of things (IoT) market is analyzed and market size, volume information is provided by country, component, deployment type, device, application software, technology services, smart applications and end user as referenced above.
The countries covered in the Narrowband internet of things (IoT) market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, 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).
North America leads the Narrowband internet of things (IoT) market because of the leading device manufacturers and network service providers centering on testing and commercial deployment of solutions for consumer and industrial applications. Asia-Pacific is expected to expand at a significant growth rate of over the forecast period of 2021 to 2028 owing to rise in internet penetration and rise number of smart city initiatives.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts 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 of Things (IoT) Market Share Analysis
The narrowband internet of things (IoT) 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, regional presence, 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 of things (IoT) market.
The major players covered in the narrowband internet of things (IoT) market report are AT&T Intellectual Property., Orange, SK TELECOM CO., LTD., Arm Limited, Vodafone Limited, China Unicom (Hong Kong) Limited, Deutsche Telekom AG, Telstra Corporation Limited, Telefonaktiebolaget LM Ericsson, Nokia, Sierra Wireless, Qualcomm Technologies, Inc., u-blox, ZTE Corporation, SEQUANS, Serecomm Corporation, Thales Group, Telit, SAMSUNG, and Intel Corporation among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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