Narrowband Internet-of-Things (IoT) Chipset Market To Expand At A CAGR Of 23.4% From 2021 To 2031

Companies in the narrowband Internet-of-Things (IoT) chipset market are announcing the launch of power-efficient NB2 IoT chipsets. These ultra-efficient chipsets offer significant performance improvements to low power long-life IoT applications. Stakeholders are partnering to successfully deploy and test narrowband Internet-of-Things (NB-IoT) data connections up to 100km from a base-station from the company's commercial network. Such partnerships hold potentials for launching long-range NB-IoT connections in order to increase the LTE (Long-Term Evolution) footprint in rural and regional Australia.

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Indian engineering institutes are collaborating with tech companies to sign a memorandum of understanding (MoU) to deploy NB-IoT-based sensor networks to monitor air pollution, especially in New Delhi, India.

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Proliferation of Vehicle Telematics Hold Long-term Opportunities for Stakeholders Post COVID-19

Since financial situations have been squeezed for stakeholders in various end-use industries, participants in the narrowband Internet-of-Things (IoT) chipset market are taking data-driven decisions before making inroads in newer regions amid the ongoing COVID-19 outbreak. They are investing in R&D before adopting new technologies for chipset manufacturing. Nevertheless, smart city projects, wearables, and vehicle telematics hold long-term revenue opportunities for participants in the narrowband Internet-of-Things (IoT) chipset market.

Currently, semiconductor companies are deploying better resolutions to avoid disruption in supply of chips. The burgeoning growth of building & manufacturing automation, healthcare, and environment monitoring devices are grabbing the attention of market stakeholders.

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Acceptance for Smart Devices in Low Signal Areas Aid Market Expansion

Smart city trial programs are becoming ubiquitous globally, and the connectivity infrastructure is aligning with low power wide area (LPWA) technologies to facilitate applications including smart metering, smart buildings, and smart street lighting.

However, a major challenge for smart city applications is to deploy a radio-access network that can match different spectrum allocations of operators that can align with low battery, cover a wide area, and efficiently power low-cost devices. These applications include logistics & fleet management, smart metering, agriculture, and properties monitoring. Thus, increase in smart devices that usually work with small amounts of data, and are commonly located in challenging places for signals reach hold promising potentials to drive the growth of the narrowband Internet-of-Things (IoT) chipset market.

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Smart City Projects Turbocharging Demand for Narrowband Internet-of-Things (IoT) Chipsets

Rising demand for deployment of smart meters and adoption of smart city concept in countries such as India, China, and Singapore are expected to be key drivers for the narrowband Internet-of-Things (IoT) chipset market. Countries such as South Korea and China are estimated to further stimulate the market for narrowband IoT chipsets in the region, owing to the presence of several manufacturers.

In terms of region, developing economies in Asia Pacific are offering lucrative growth opportunities for stakeholders in the global narrowband Internet-of-Things (IoT) chipset market. Growing work for smart city projects and high adoption of smart meters in countries such as India and China are also boosting the growth of the Asia Pacific narrowband Internet-of-Things (IoT) chipset market.

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