The introduction of NB-IoT technology is one of the major trends being witnessed in the market. The introduction of NB-IoT has revolutionized the IoT chipset market and has increased the use of IoT-based chipsets. NB-IoT is a wireless technology, which works on the LPWA network and cannot be operated on LTE-based hardware. The introduction of NB-IoT is a key trend that could positively drive the IoT market. Several factors such as the deployment to a wide area network, increased power efficiency, absence of a gateway for NB-IoT use, cost savings, reliability, and connection to a wide range of frequencies drive the adoption of NB-IoT in the market. NB-IoT technology will allow devices with small form factors and sensors to connect to a licensed narrow bandwidth and will ensure the transfer of data at higher rates.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
In this report, Technavio analysts highlight the increasing number of smart devices and applications as a key factor contributing to the growth of the global IoT chipset market:
Increasing number of smart devices and applications
Smart devices are interactive gadgets, which connect users and other devices through protocols such as Wi-Fi, Bluetooth, 4G, and 3G. Smart devices include smartphones; smart wearables such as smartwatches and fitness bands; smart home appliances such as smart bulbs, smart locks, and smart thermostats; and smart automobiles. These devices serve as an interface between humans and technology and bridge the gap between the digital and physical world through IoT. The increasing popularity and growing dependence on smart devices have led to the growth of the smart device market.
According to a senior analyst at Technavio for semiconductor equipment, “Smart devices provide various benefits, including optimized decision-making, ease of handling emergencies, cost-cutting, remote control access, enhanced quality of living, time management, commercial benefits, and better safety and security. The increasing automation of industrial processes, mechanization of the workforce, government-driven initiatives, and rising demand for smart homes are expected to drive the market during the forecast period.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global IoT chipset market segmentation
This market research report segments the global IoT chipset market into the following applications (smart cities, industrial Ethernet, smart wearables, connected vehicles, and connected homes) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The smart cities segment dominated the global IoT chipset market in 2017, accounting for a revenue share of more than 47%. It was followed by the industrial ethernet segment with a revenue share of over 29%.
APAC held the largest share of the global IoT chipset market in 2017, accounting for a market share of over 74%. This region will post significant growth during the forecast period.
Save big with Technavio this May!
Find out what companies are venturing in to beat the heat this summer! Technavio indulges you with a massive 20% OFF on all
non-alcoholic beverages reports for the entire month.
Technavio honors the achievements and efforts of Motherhood this Mother's Day by offering a whopping 30% OFF on all cosmetics and toiletry reports. Offer valid from 7th May for a limited period.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.