The global NB-IoT chipset market accounted for a value of USD 395 million in 2019 and is projected to register growth at a CAGR of 37.1% during forecast period.
COVID-19 has impacted the NB-IoT chipset market. The manufacturing units have to temporarily shut down and the logistics and supply chain got disrupted due to travel restriction and lockdown imposed to control transmission of corona virus. The export and import activities are suspended in major countries due to fear of spread of corona virus. Due to these factors, the market growth for NB-IoT chipset market is likely to be slow during forecast period.
For more details, visit: Global NarrowBand Internet of Things Chipset Market By Deployment (Stand-Alone, In-Bond, Others), By Device (Smart Parking, Smart Meters, Others), By End-Users (Energy & Utilities, Others), By Region, Forecast & Opportunities to 2026
The adoption of IoT is increasing around the world. The use of connected devices is rapidly increasing as the M2M communications is increasing around the world. The adoption IoT increases the use of connectivity in almost all the industries such as consumer electronics, healthcare and retail etc. This increases demand for NB-IoT chipset and drives growth in this market during forecast period.
On the basis of deployment, the NB IoT market is segmented into stand-alone, in-bond and guard bond. The guard bond segment is estimated to hold largest market share during forecast period. The guard bond segment has absence of frequency planning and existing infrastructure including antenna and RF modules are can be reuse. It involves zero additional spectrum cost for guard bond deployment. This increases demand for guard bond segment and drives growth in this segment during forecast period.
On the basis of device, the NB IoT market is segmented into wearable devices, smart parking, smart meters, trackers, alarm & detectors, smart streetlights, smart appliances and others. The wearable devices segment is estimated to register highest growth during forecast period. The wearable devices are widely adopted in sports, entertainment, fitness and healthcare verticals. The demand for wearable devices is increasing and this increases the demand for highly secure and low power cellular networks such as NB-IoT. The demand for personal care diagnostic is increasing as the aging population is increasing in various countries such as Germany, UK, US and Japan. This drives growth in wearable devices market during forecast period.
On the basis of end-users, the NB IoT market is segmented into agriculture, energy & utilities, automotive & transportation, healthcare, manufacturing, safety & security, infrastructure, consumer electronics and building automation. The energy & utilities segment is estimated to hold largest share during forecast period. The deployment of NB IoT technology help energy sector to achieve business objective. The NB IoT technology can be deployed in process optimization, plant automation and supply chain optimization. The smart metering is considered as major application of NB IoT technology in energy & utilities application. This boosts growth in energy and utilities segment during forecast period.
Asia-Pacific region is estimated to hold largest market share during forecast period. The adoption of NB IoT in this region is rapidly increasing and it has various applications such as healthcare, smart parking, smart meters and smart streetlights. The government is implementing various policies which support the NB IoT chipset market in this region. The demand for NB IoT technology is increasing in this region and this drives growth in Asia-Pacific region during forecast market.
The key market players in NB IoT chipset industry are Huawei, Qualcomm, Nordic Semiconductor, Samsung Electronics, Intel, Sanechips Technology, Mediatek, Altair Semicondustor, Commsolid, Riot Micro, U-Blox, Sierra Wireless, GCT Semiconductor, Sequans Communications, Gemalto and Telit.
- What are the expected industry trends over the next three to five years?
- Which of the NB-IoT chipset deployment is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?