Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on narrowband IoT (NB-IoT) chipset market provides
in-depth analysis of segments and sub-segments in the global as well as
regional narrowband IoT (NB-IoT) chipset market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
narrowband IoT (NB-IoT) chipset market over the short term as well as long
term. The report is a comprehensive presentation of trends, forecast and dollar
values of the global narrowband IoT (NB-IoT) chipset market. According to the
report, the global narrowband IoT (NB-IoT) chipset market is projected to grow
at a CAGR of 41.22% over the forecast period of 2021-2027, growing from nearly
USD 455 million in 2020 to about USD 5,053 million in 2027.
Narrowband IoT (NB-IoT) chipset is
an integral part of the IoT devices that enables an NB-IoT network and a
Low-Power Wide-Area Network (LPWAN). The NB-IoT chip improves the power
consumption, system capacity, and spectrum efficiency of the devices. Moreover,
with NB-IoT chips, the prices of IoT devices drop significantly. The lower
price of the NB-IoT chip is attributed to the underlying technology which is
much simpler than the current GSM/GPRS technology. Such advantages of NB-IoT
have propelled its popularity among various end-use industries. The players in
the market are focusing on developing innovative products to boost growth.
The spread of the COVID-19
pandemic had a fairly positive impact on the global NB-IoT chipset market over
the short term as well as the long term. The sale of IoT consumer devices
suddenly dropped for the second quarter of 2020. However, it increased
drastically over the third, and fourth quarters of 2020. Many people were stuck
inside their homes, so they spend on smart appliances such as smart-home
speakers, smart washing machines, smart ACs, and smart lights. Moreover, several
industries adopted automation during the pandemic due to concern over infection
and labor shortage. The smart appliances and industrial automation machines
have NB-IoT chipset inside them. Thus, the increased sale of smart appliances
and higher adoption of industrial automation augmented the growth of the NB-IoT
chipset market during the pandemic. However, the production of the NB-IoT
chipset was hampered severely during the period of the COVID-19 pandemic.
Government restrictions coupled with lack of labor during the pandemic dropped
the production of the NB-IoT chipsets. Nevertheless, as the pandemic crisis
subside, the production of the NB-IoT chipset came back to a pre-pandemic
state.
The increasing demand for smart
manufacturing and the growing adoption of IoT technology boosts the market
growth. NB-IoT provides reliable networks and offers excellent secure
connections for IoT devices by assimilating security into the network
architecture. Moreover, the increase in demand for data processing is further
driving the NB-IoT chipset market growth. The collected data is processed
through sensors and real-time tracking of business operations across numerous
industrial sectors. The sensors and tracking devices are integrated with the
NB-IoT chipset. Furthermore, providing back operations that require real-time
access to data changes instantly and augments the demand for ultra-low latency
from various sectors. This, in turn, is likely to boost the market growth for
the NB-IoT chipset. On the other hand, high upfront costs for infrastructural
establishment are the major restraining factors for market growth. Nonetheless,
the changing consumer landscape and business environment are expected to offer
promising opportunities to the market in the near future.
Among the geographies, the North
America region accounted for the largest share in the global NB-IoT markets
owing to a rise in strategic trails to launch IoT technologies and equipment in
this region. Furthermore, OEMs across the North America region are anticipated
to offer numerous solutions to their IoT infrastructures. This has offered a
positive approach toward commercializing IoT networks. However, the Asia
Pacific region is projected to grow at the highest rate in the global NB-IoT
markets over the projection period. This is accredited to a continuous increase
in penetration of smartphones and an increase in demand for narrow bandwidth
applications that induces wireless network service providers to deploy 5G
technology in their network.
The report on global narrowband IoT
(NB-IoT) chipset market covers segments such as deployment, device, and
end-user. On the basis of deployment, the sub-markets include stand-alone,
in-band, and guard band. On the basis of device, the sub-markets include smart
meters, smart appliances, trackers, alarms and detectors, wearable devices, and
others. On the basis of end-user, the sub-markets include agriculture,
automotive and transportation, energy and utilities, healthcare, consumer
electronics, and others.
The report provides profiles of
the companies in the market such as Qualcomm Incorporated, Telefonaktiebolaget
LM Ericsson, Huawei Technologies Co. Ltd., Samsung Group, Intel Corporation,
U-Blox Holding AG, Vodafone Group PLC, Nordic Semiconductor ASA, Sanechips
Technology Co., Ltd, and Sequans Communications SA.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of narrowband IoT (NB-IoT) chipset market. Moreover, the study
highlights current market trends and provides forecast from 2021-2027. We also
have highlighted future trends in the market that will affect the demand during
the forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.
Please Choose One of them.