Global Narrowband IoT (NB-IoT) Chipset Market is expected to grow at a CAGR of 51.3% during the forecast period from 2019-2026

As per the report published by Fior Markets ,the global Narrowband IoT (NB-IoT) Chipset market is expected to grow from USD 202.23 Million in 2018 to USD 5,541.45 Million by 2026 at a CAGR of 51.3% during the forecast period from 2019-2026.Asia Pacific is dominating the market due to the favourable government policies and a strong presence of NB-IoT chipsets, modules, and infrastructure providers in China are the prime factors fueling the growth of the market in China.

Narrowband IoT (NB-IoT) Chipset Market by Deployment Type (Stand-Alone, Guard Band, In-Band), Device, Vertical Region Global Vertical Analysis, Market Device, Share, Growth, Trends, and Forecast 2019 to 2026.

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Leading companies in the industry include Huawei Technologies Co. Ltd., Qualcomm Incorporated, Intel Corporation, Nordic Semiconductor, Sanechips Co. Ltd., Samsung Group, MediaTek Inc., Sercomm Corporation, Xiamen Cheerzing IOT Technology Co. Ltd., u-blox Holding AG, Telit Communications PLC, Quectel Wireless Solutions Co., Ltd, and Sequans Communications S.A., among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.For instance, in February 2019, Nordic Semiconductor's recently launched nRF9160 System-in-Package (SiP) LTE-M/NB-IoT cellular IoT (CIoT) module is among the first products to be awarded PSA Certified Level 1 certification under a new IoT security initiative spearheaded by Arm.

The deployment type segment is classified as stand-alone, guard band and In-band. The guard band segment is dominating the market with the highest share of 50.90% in 2018. Guard band helps to reuse antenna and RF modules of existing infrastructure, and no need for frequency planning, compared to stand-alone and in-band deployment scenarios. Moreover, there is requirement of no additional spectrum cost in guard band deployment which is further complementing its growth.The device segment is divided into segments such as smart parking, smart meters, trackers, alarms and detectors, smart streetlights, smart appliances, wearable devices and other devices. The wearable devices segment is dominating the market and valued around USD 53.59 Million.Increase in demand for personal care diagnostics and growing aging population in developed countries such as Japan, the UK, Germany, and the US drive the demand for wearable devices. Vertical segment includes agriculture, automotive and transportation, energy and utilities, healthcare, manufacturing, safety and security, infrastructure, building automation and consumer electronics. The energy and utilitiessegment is dominating the market with the highest share of 23.40% in 2018. Adoption of NB-IoT technology is anticipated to help the energy sector to achieve business aims. In the coming years, the technology can be deployed for overall plant automation, process optimization, supply chain optimization, increased safety, and integrated business processes, while fulfilling corporate social responsibility.

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Rising use of IoT and increase in use of connected devicesis one of the driving force. Also, increasing demand for low-power, low-cost, and long-range connectivity technologiesand widening applications of NB-IoT technologyare another two factorsfuelling the growth of market.But tough competition from other LPWA technologiesis restricting the growth of Narrowband IoT (NB-IoT) Chipsetmarket. However,emerging smart cities and smart buildingsis another factor expected to provide numerous growth opportunities in forthcoming years.

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