- 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.
- 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 be the fastest growing region in the Narrowband Internet of Things (IoT) market during the forecast period driven by rapid urbanization, strong government initiatives promoting smart city development, and the widespread adoption of IoT-enabled infrastructure
- In 2025, the Smart Meters segment is projected to dominate the Narrowband Internet of Things (IoT) market under the By Device category, holding the largest market share of 34.87%. This growth is driven by widespread deployment of smart grid infrastructure across utilities for electricity, gas, and water monitoring. The ability of smart meters to support low-power, wide-area connectivity makes NB-IoT an ideal communication backbone for reliable and cost-efficient data transmission. Regulatory push for energy efficiency and remote diagnostics is further accelerating adoption globally.
