Press release
Global Narrowband IoT Chipset Market to Exhibit Impressive Growth on Back of Commanding Network Coverage
The advent of narrowband IoT chipset is intended towards addressing cellular IoT troubles. In the coming years, the demand for narrowband IoT chipset is forecast to rise at a positive pace. The trajectory of the global narrowband IoT chipset market is studied in detail in a report, titled “Narrowband IoT Chipset Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.” It is currently available for sale on MarketResearchReports.biz. The report a comprehensive overview of the global narrowband IoT chipset market. It covers various factors enabling growth therein besides market intelligence for companies operating in the market.
As per the report, several vendors are likely to forge service-level agreements for certain services such as those related to healthcare. Such strategies adopted by the players are expected to have a positive influence on the global narrowband IoT chipset market. Furthermore, the report forecasts the market to gain from the increased use of licensed spectrum, which has allowed narrowband IoT to put up a strong competition against low-power WAN technologies currently available in the market. Besides this, the presence of a larger pool of established companies and telecom vendors will aid expansion of the global narrowband IoT chipset market.
The report expects the market to report a telling growth on the back of widespread connections provided by the technology and its commanding network coverage. In addition to this, the increasing demand for cellular IoT networks will raise the bar of growth for the global narrowband IoT chipset market. Globally, the market will gain strength from the rising awareness among consumers and the improvised penetration coverage offered by the narrowband IoT technology.
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However, high operational cost, lack of standardization, and the fragmented vendor landscape will hinder growth to an extent. Besides this, the technological dependence for application can hamper growth witnessed in the global narrowband IoT chipset market to an extent. Nonetheless, several leading companies operating in the market are looking to gain from the surging internet penetration. Besides this the rising implementation of narrowband IoT technology is likely to boost the global narrowband IoT chipset market in the coming years.
The report expects the demand for narrowband IoT chipset to significantly rise in Asia Pacific. The rapid increase in the Internet penetration and government grants are expected to support the market’s growth in the region. Besides this, the Asia Pacific market is expected to gain significantly from the rising demand for narrowband IoT chipset in Japan, China, and India. However, the report prophesizes North America to hold dominance in the global narrowband IoT chipset market. With government planning mammoth investment in developing smart cities, North America is expected to offer lucrative growth opportunities to the market.
Some of the leading companies operating in the global narrowband IoT chipset market are U-Blox Holding AG, MistBase AB, Vodafone Group PLC, Ericsson, and Huawei Technologies Co. Ltd.
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