This Narrowband Internet-of-Things (IoT) Chipset Market report offers a comprehensive assessment of the global markets by taking into consideration past, present and future trends. The report explores such aspects as trends, forecasts of share, production, and future growth. The report also highlights the new technologies and trends that players are using to propel their businesses. Profitability and product knowledge, among other things, as well as revenue and industry growth rates, end-users, etc., are all covered to give clients additional information regarding the market. The report contains historical data from 2022 and forecasts for 2023-2032 to give clients a better understanding of the industry.
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Narrowband Internet-of-Things (IoT) Chipset Market size is expected to be worth around USD 45636.11 million by 2032 from USD 636.63 million in 2022 growing at a CAGR of 53.3% during the forecast period from 2023 to 2032
Market Dynamics:
The market is expected to grow over the next few years due to the increasing demand for long-range communication and the importance of machine-to-machine communications.
The target market is expected to grow further over the forecast period due to factors such as power efficiency, flexibility and wide deployment.
A further factor that is expected to contribute to the growth of this market is the implementation of narrowband Internet-of-Things (IoT), chipsets for smart airports. Huawei, Q-Loud and Telefonica, for example, launched smart meters using narrowband IoT technologies at the Munich Airport. This technology converts analog systems to digital software solutions.
The high cost of developing operating software at the beginning is expected to be a major factor that will restrain the growth of the global industry over the forecast period. The slow data transmission speeds provided by the chips are another factor that is expected to hinder the growth of the market.
The target market is continuing to use narrowband IoT chipsets in smart city projects due to their benefits, such as improved battery performance and higher range. In smart cities, chips are used to develop mobile networks that provide better and faster connectivity. This trend will support the growth of the market during the forecast period.
Over the forecast period, the increasing innovation in IOT hardware and services is expected to generate lucrative revenue opportunities for the players in the target market. Internet-connected wearable glasses, for example, are used in various industrial applications and IoT applications can be controlled from smartphones and tablets.
Key Takeaways:
• The Narrowband IoT (NB-IoT) standard is designed to enable low-power, wide-area (LPWA) connectivity for IoT devices, particularly those that require low data rates and long battery life.
• The market for NB-IoT chipsets is expected to grow rapidly in the coming years, driven by the increasing demand for IoT devices in various industries, including smart cities, smart homes, agriculture, and healthcare.
• The Asia-Pacific region is expected to be the largest market for NB-IoT chipsets, driven by the increasing adoption of IoT devices in countries such as China and India.
• Some of the key factors driving the growth of the NB-IoT chipset market include the increasing demand for smart devices, the need for efficient and reliable connectivity for IoT devices, and the increasing focus on smart cities and industrial automation.
• However, the market also faces some challenges such as the high cost of NB-IoT chipsets, the availability of alternative LPWA connectivity technologies, and the lack of standardization in the IoT market.
This report offers insights into the following points
• Market penetration: Comprehensive information about the market provided by key players
• Market Development: This section provides detailed information on lucrative emerging markets, and analyses penetration in mature segments.
• Market Diversification: Provides detailed information on new product launches, untapped geopolitics, recent developments and investments
• Market Trends: Provides a comprehensive understanding of the Cumulative impact of COVID-19 and the Russia-Ukraine conflict, as well as the high inflation
• Competitive Assessment and Intelligence: Provides a comprehensive assessment of market share, strategies, products (including certification), regulatory approvals, manufacturing capabilities, and patent landscape of the leading players
• Product Development and Innovation: Offers intelligent insights into future technologies, R&D activity, and breakthrough product development
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The Narrowband Internet-of-Things (IoT) Chipset market is dominated by the following players:
- Vodafone Group Plc.
- Verizon Communications Inc.
- u-blox AG
- Samsung Electronics Co., Ltd.
- QUALCOMM Incorporated
- Nokia Corporation
- Huawei Technologies Co. Ltd.
- Ericsson Inc.
- Samsung Electronics Co., Ltd.
- CommSolid GmbH
Market Segmentation:
Segmentation by device:
- Smart Appliances
- Smart Meters
- Trackers
- Alarms & Detectors
- Wearable Devices
- Others
Segmentation by deployment type:
- Guard Band
- In-band
- Standalone
Segmentation by end-use industry:
- Agriculture
- Automotive & Transportation
- Building Automation
- Healthcare
- Infrastructure
- Retail
- Safety & Security
- Others (Manufacturing, Energy, etc.)
Why you should buy this product:
• Market segmentation based on economic and non-economic criteria. Each segment and sub-segment data.
• Predict which region or segment will dominate and have the fastest growth. Perform a detailed geographic analysis to identify the consumption patterns in each region and any factors that may affect them.
• The competition landscape analysis includes rankings, product/service launches, partnerships, business expansion, and acquisitions by companies over the past five years.
• Comprehensive profiles of companies, including overviews, benchmarking, SWOT analysis, company insights, and company insights.
• Market Analysis Based on the Latest Developments. This includes Porter’s Five Forces analysis: A detailed evaluation of the market, Market Insights through the Value Chain.
• Understand the market dynamics to identify growth opportunities in the next few years
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