DUBLIN--(BUSINESS WIRE)--The "Global Narrowband IoT (NB-IoT) Chipset Market Size, Share & Industry Trends Analysis Report By Application, By Deployment, By Offering (Hardware (Processor, Memory, and Power Management Unit) and Software), By Vertical, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Narrowband IoT (NB-IoT) Chipset Market size is expected to reach $7.7 billion by 2028, rising at a market growth of 51.6% CAGR during the forecast period.
A tiny electrical component known as a Narrowband IoT (NB-IoT) chipset is used in many machines, electronic gadgets, and physical items.
Due to numerous advantages of the technology, including low power consumption for user devices, high system capacity, and improved spectrum efficiency enabling deep coverage of an area, the narrowband IoT chipset market is expanding at a rapid rate. A wide variety of new Internet of Things (IoT) devices and services are made possible by the standards-based low power wide area (LPWA) technology known as narrowband Internet of Things (NB-IoT).
In deep coverage, NB-IoT dramatically increases spectrum efficiency, system capacity, and user device power consumption. A variety of use cases can accommodate a battery life of more than 10 years. The technologies utilized to transport data nowadays range widely. Each has distinct advantages and disadvantages, and the appropriate technology is selected based on the specific circumstances.
The most discussed in recent years and one that will be widely used in future years across multiple industries is NB-IoT (Narrowband Internet of Things). A lot of devices can communicate data using the NB-IoT technology even in areas without coverage from a typical mobile network. A more reliable data transport is ensured by the use of a licensed frequency band where there is no interruption from other devices. A network that can span over big regions while using less energy is an LPWAN, and this is what the NB-IoT is.
Market Growth Factors
Increasing Adoption of IOT Along With Better Battery Life for Other Connected Devices
Battery life is a major aspect in the world of IoT devices as well as other connected devices today. Smartphone makers are continuously striving to improve their devices' massive battery life because modern smartphones are so different from their models from only a few years ago.
Technologies are evolving and becoming more advanced and sophisticated every year. The market for connected devices is expanding, particularly in the industrial sector, as M2M communications become more prevalent. In addition, connectivity has been made possible by market trends, like IoT in practically every sector, encompassing healthcare, consumer electronics, or retail.
Lesser Initial and Maintenance Costs Along With Increasing Reliability
Companies is expected to not make significant investments in new technology if it does not improve their bottom line in the long run. That is actually how it should be because a business is fundamentally a living entity that is trying to survive in a hostile market where cost is a very significant factor for the growth and revenue of any business.
With the rapidly expanding information infrastructure and the world's economy being so interconnected, this is more relevant than ever. NB-IoT and similar technologies use a fairly straightforward waveform, which uses less power. But it's not only about power savings. As NB-IoT becomes more and more popular, making NB-IoT chips will become more and more affordable.
Market Restraining Factors
Incompatibility with High Data Speeds Along With the Availability of Alternatives Across The Market
Compared to LTE-M, NB-IoT is less suitable for situations where very low network latency is required. In situations where near-real-time data could be necessary, where LTE-M is a better fit, it will therefore be less common. In the transition to 5G, both NB-IoT and LTE-M play a role in enabling use cases that demand speed and are frequently crucial.
Not all of this depends on the communication standard that is selected. For fixed or mobile devices, NB IoT was created as a pure data transfer method. It cannot seamlessly switch between cells and cannot serve applications that need low latency.
Scope of the Study
Market Segments Covered in the Report:
By Application
- Alarms & Detectors
- Smart Meters
- Trackers
- Wearable Devices
- Smart Parking
- Others
By Deployment
- Guard
- In-band
- Stand-alone
By Offering
-
Hardware
- Processor
- Memory
- Power Management Unit
- Software
By Vertical
- Infrastructure
- Energy & Utilities
- Automotive & Transportation
- Agriculture
- Healthcare & Dental
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Samsung Electronics Co., Ltd.
- Intel Corporation
- U-blox Holding AG
- Sequans Communications S.A.
- Huawei Technologies Co. Ltd.
- Qualcomm, Inc.
- Nordic Semiconductor ASA
- MediaTek, Inc.
- Sercomm Corporation
- Sanechips Technology Co., Ltd
For more information about this report visit https://www.researchandmarkets.com/r/4mjnzb
