DUBLIN--(BUSINESS WIRE)--The "Narrowband IoT (NB-IoT) Chipset Market by Device (Smart Meters, Smart Parking, Smart Street lighting), Deployment Type, Vertical and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The NB-IoT chipset market is expected to grow from USD 272 million in 2019 to USD 2,002 million by 2024 at a CAGR of 49.1%.
Growing adoption of IoT and an increase in the use of connected devices, and rising demand for low-power, low-cost, and long-range connectivity technologies are the key drivers for the growth of this market. Increasing participation of industry players in the development of NB-IoT and widening applications of NB-IoT technology are the other factors fueling the growth of this market. However, stiff competition from other LPWA technologies, and privacy and security concerns are among the major factors restraining the growth of the NB-IoT chipset market.
Stand-alone deployment to witness highest CAGR in market during forecast period
In the stand-alone deployment type, NB-IoT is deployed in a dedicated frequency band. The stand-alone deployment type utilizes new bandwidth instead of sharing the existing LTE bandwidth. It is considered as an option when LTE is deployed in a higher band and GSM is still in use to provide coverage for basic services. Moreover, with the growth in the number of NB-IoT-connected devices, the standalone deployment technique, utilizing new bandwidth, is likely to be used.
Smart Meters to hold largest market followed by smart parking in NB-IoT chipset market
The growing adoption of water, gas, and electricity smart meters; and favorable government reforms are boosting the implementation of smart meters across the world. Moreover, the demand for long battery life, and low and intermittent data transmission have fueled the adoption of NB-IoT technology for smart metering devices. Moreover, increasing adoption of NB-IoT technology for smart parking application is accelerating its market growth. For instance, in January 2018, Deutsche Telekom (Germany) started deployment of NB-IoT-enabled devices to improve the smart parking system across Hamburg. The company plans to roll-out 11,000 sensors by the end of 2019.
Energy & utilities to hold largest market size during forecast period followed by infrastructure
Energy and utilities is expected to hold the largest size of NB-IoT chipset market based on vertical during the forecast period. Massive adoption of NB-IoT-enabled smart meters is driving the growth of this market. Favorable federal mandates in various countries are further driving the growth of the NB-IoT-enabled smart meters. Moreover, IoT applications such as smart parking and smart streetlights, and industry trends such as smart city spread across the world are driving the growth of the NB-IoT chipset market for the infrastructure vertical.
North America to witness highest CAGR in overall market from 2018 to 2024
Growing adoption of NB-IoT technology in the region and developed IT infrastructure is expected to boost the growth of this market in this region. Moreover, established LTE-M network and availability of dual-mode NB-IoT chipsets offering CAT-M1 and CAT-NB1/NB2 connectivity are expected to complement the growth of NB-IoT chipsets in the region. Verizon (US), T-Mobile (US), AT&T (US), and Bell Canada (Canada) are expected to be the key NB-IoT services providers in the region. Furthermore, increasing participation of key industry players such as Qualcomm (US) and Nordic Semiconductor (Norway) to build dual-mode-only chipsets is expected to complement the growth of NB-IoT in Europe and North America.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in NB-IoT Chipset Market
4.2 NB-IoT Chipset Market in APAC, By Device and Country
4.3 NB-IoT Chipset Market, By Vertical
4.4 NB-IoT Chipset Market, By Geography
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Adoption of IoT and Rise in Use of Connected Devices
5.2.1.2 Rising Demand for Low-Power, Low-Cost, and Long-Range Connectivity Technologies
5.2.1.3 Increasing Participation of Industry Players in Development of NB-IoT
5.2.1.4 Widening Applications of NB-IoT Technology
5.2.2 Restraints
5.2.2.1 Stiff Competition From Other Lpwa Technologies
5.2.2.2 Privacy and Security Concerns
5.2.3 Opportunities
5.2.3.1 Emerging Smart Cities and Smart Buildings
5.2.4 Challenges
5.2.4.1 Long-Tail Ecosystem Consisting of Chipsets, Modules, Devices, and Application Platforms
5.2.4.2 Limited to Low-Speed Data Transmission Applications
5.3 Case Studies
5.3.1 Las Vegas Smart City
5.3.2 China Mobile Deploys Electric Smart Metering
5.3.3 U-Blox Brings NB-IoT in Brazil
5.3.4 University of St. Andrews Developing New Smart Tags to Track Seals Using NB-IoT
6 NB-IoT Chipset Market, By Deployment Type
6.1 Introduction
6.2 Stand-Alone
6.3 Guard Band
6.4 In-Band
7 NB-IoT Chipset Market, By Device
7.1 Introduction
7.2 Smart Parking
7.3 Smart Meters
7.4 Trackers
7.5 Alarms and Detectors
7.6 Smart Streetlights
7.7 Smart Appliances
7.8 Wearable Devices
7.9 Other Devices
8 NB-IoT Chipset Market, By Vertical
8.1 Introduction
8.2 Agriculture
8.3 Automotive and Transportation
8.4 Energy and Utilities
8.5 Healthcare
8.6 Manufacturing
8.7 Safety and Security
8.8 Infrastructure
8.9 Building Automation
8.10 Consumer Electronics
9 Geographic Analysis
9.1 Introduction
9.2 North America
9.3 Europe
9.4 APAC
9.5 RoW
10 Competitive Landscape
10.1 Overview
10.2 Market Player Ranking Analysis (2018)
10.3 Competitive Leadership Mapping
10.3.1 Visionary Leaders
10.3.2 Dynamic Differentiators
10.3.3 Innovators
10.3.4 Emerging Companies
10.4 Competitive Scenario
10.4.1 Product Launches
10.4.2 Product Developments
10.4.3 Partnerships and Collaborations
11 Company Profiles
11.1 Key Players
11.1.1 Huawei
11.1.2 Qualcomm
11.1.3 Nordic Semiconductor
11.1.4 Samsung Electronics
11.1.5 Intel
11.1.6 Sanechips Technology (ZTE Microelectronics)
11.1.7 Mediatek
11.1.8 Altair Semiconductor (A Sony Group Company)
11.1.9 Commsolid (A Goodix Company
11.1.10 Riot Micro
11.2 Other Key Players
11.2.1 Sierra Wireless
11.2.2 U-Blox
11.2.3 Sequans Communications
11.2.4 GCT Semiconductor
11.2.5 Xiamen Cheerzing IoT Technology
11.2.6 Telit
11.2.7 Quectel Wireless Solutions
11.2.8 Simcom Wireless Solutions (A Sunsea Aiot Company)
11.2.9 Gemalto
11.2.10 Sercomm
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