Narrowband-IoT Market Growth, Demand, Overview And Segment Forecast To 2030

Narrowband - IoT Market-Overview

The remarkable development in the IoT industry is estimated to motivate the Narrowband- Iot Market 2020. The ICT industry reports are produced by Market Research Future, which highlights market options for expansion. A 50% CAGR is estimated to help the market to accomplish revenues worth USD 207.82 Billion in the forecast period.

The demand for secure and reliable connectivity is predicted to shape the Narrowband- IoT market in the coming period. The development in cellular communication technology is predicted to guide the development of the Narrowband- IoT market in the coming period.

Narrowband IoT (NB-IoT) is a low-power wide-area network (LPWAN) radio technology standard developed by 3GPP for cellular devices and Internet of Things (IoT) applications. It is designed to provide low-cost and low-power communication over a wide area. Narrowband IoT is based on Orthogonal Frequency Division Multiplexing (OFDM) and utilizes a subset of the LTE physical layer, allowing it to use existing LTE infrastructure and spectrum. It also supports a range of features, including low device complexity, low latency, improved coverage, and support for a range of use cases. Additionally, NB-IoT is designed to be highly efficient in terms of power consumption, allowing for long battery life for connected devices.

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Segmental Analysis:

The segmental investigation of the Narrowband- IoT market has been segmented on the basis of regions, devices, deployment, and verticals. The deployment based segmentation of the Narrowband- IoT market consists of in band, guard band, and stand-alone. Based on device type, the Narrowband- IoT market has been segmented into wearable, tracker, alarm detectors, smart metering, tracking, among others. The vertical based segmentation of the Narrowband- IoT market consists of agriculture, healthcare, IT, manufacturing, automotive logistics, and energy utilities, among others. On the basis of regions, the Narrowband- IoT market consists of the MEA, North America, Europe, and APAC.

Based on Component:

Network
Module

Based on Deployment:

In-band
Guard-band
Standalone

Based on Device Type:

Alarm Detector
Smart Parking
Smart Meter
Smart Lighting
Tracker
Wearables
Others
NB-IoT End-Use Outlook (Revenue, USD Million, 2018 - 2025)
Automotive
Agriculture
Infrastructure
Healthcare
Energy Utilities
Manufacturing
Consumer Electronics
Others

Detailed Regional Analysis:

The regional review of the Narrowband-IoT market consists of the region such as the MEA, North America, Europe, and APAC. The North American regional market is controlling the market of Narrowband- IoT Market owing to the mounting implementation of IoT and cloud-based services in this region. The mounting demand for competent and economic connectivity technology in this region is supporting the market of Narrowband- IoT market. The European region is also anticipated to record strong growth in the Narrowband- IoT Market owing to the mounting use of NB-IoT in the automotive transportation sector in the region. The Asia-Pacific is mounting due to a range of government initiatives for smart cities in countries like India and China.

Competitive Analysis:

The incidence of options that can be favorably capitalized on is aiding the market players in improving their overall position in the market. The balance in demand and supply in the market will prove as an encouraging growth factor in the forecast period. The market is expected to record a stable growth rate in the coming years. The market competitors are expected to play a central role in the development of the global market. The development of adequate sources of raw material is predicted to transform the market in the upcoming period further. The availability of strong government support and the presence of encouraging policies is expected to enliven the growth prospects in the approaching period. The competition in the market is manageable, which is inducing the entry of new players in the global market. The upgrades in production methods are estimated to transform the potential of the market in the forecast period.

The well-known companies in the Narrowband- IoT market are Vodafone Group PLC (U.K.), Verizon Communication (U.S.), Emirates Telecommunications Corporation (UAE), Huawei Technologies Co. Ltd. (China), Telecom Italia (Italy), Ericsson (Sweden), Qualcomm Inc. (U.S.), China Unicom (China), Intel Corporation (U.S.), Nokia Networks (Finland), and among others.

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Industry Updates:

Mar 2020 The Danish satellite communications waveform and GateHouse Telecom, a test equipment specialist with help from the Danish Agency for Science and Higher Education, has agreed to a contract with the European Space Agency. The assignment aims to create a solution for extending present NB-IoT protocols to facilitate a space-based NB-IoT network.

Apr 2020 NTT Docomo, a Japanese telco, has determined to stop offering services based on NB-IoT narrowband technology in light of the present business environment to concentrate management resources.

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