Narrowband Internet of Things (IoT) chipset Market Size, Share, Price, Trends, Growth, Analysis, Outlook, and Forecast By 2023-2030

Narrowband Internet of Things (IoT) chipsets are widely used in IoT devices and modules that connect various physical objects through the internet to enable monitoring and data collection. These chipsets have low-power wireless communication capabilities that allow IoT devices to operate for longer duration.

Market Dynamics:

The growing adoption of IoT devices across various industries is driving the demand for Narrowband IoT chipsets. As per estimates, there will be around 25 billion IoT devices connected to the internet by 2025. Additionally, the ability of Narrowband IoT to penetrate deep indoors and underground locations is further fueling its adoption. Narrowband IoT networks are especially useful for applications that require long battery life, low data rates, and secure connectivity. The rising need for remote asset tracking and management is also propelling the narrowband IoT chipset market growth over the forecast period.

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Increased IoT Device Deployments Driving Demand for Narrowband IoT Chipsets

The proliferation of IoT devices across various industries is one of the primary drivers boosting the narrowband IoT chipset market. Narrowband IoT standards facilitate low power wide area connectivity solutions that are well-suited for IoT applications involving sensor data collection from devices with low data rates over long battery lives. As more enterprises deploy IoT technology for activities such as remote monitoring, smart metering, asset tracking etc., the need for purpose-built chipsets that support narrowband communications is rising substantially. Narrowband networks also help address connectivity issues in locations with poor cellular coverage, thereby expanding the scope of IoT implementations.

High Importance of Network Security and Privacy Hindering Adoption Rates

While narrowband IoT presents compelling advantages, ensuring robust network and data security continues to be a major challenge curtailing the technology's adoption globally. As IoT deployments expand to critical infrastructure and industrial controls, cyberthreats can have severe financial and safety repercussions. However, narrowband networks have limited capabilities to support advanced security protocols compared to traditional cellular standards. There are also valid privacy concerns around how IoT data could potentially be used or exploited without adequate safeguards. Addressing these security and privacy issues through hardware and software enhancements will be critical for narrowband IoT to achieve its full potential.

Top Key Players:

Vodafone Group PLC, Verizon Communications, U-Blox Holding AG, Samsung Electronics, Qualcomm Incorporated, Nokia Corporation, Mistase Communication System, Intel Corporation, Huawei Technologies Co. Ltd., and Ericsson

Detailed Segmentation:

On the basis of devices, the global narrowband internet of things chipset market is classified into:

Trackers
Wearable Devices
Smart Appliances
Smart Metering
Smart Electric
Smart Gas
Smart Water
Alarms and Detectors
Others

On the basis of deployment type, the global narrowband internet of things chipset market is classified into:

Guard Band
In-band
Standalone

On the basis of end-use industry, the global narrowband internet of things chipset market is classified into:

Agriculture
Automotive & Transportation
Building Automation
Energy
Healthcare
Infrastructure
Retail
Safety & Security
Others

Regional Analysis:

⁃ North America: United States, Canada, and Mexico
⁃ South & Central America: Argentina, Chile, Brazil and Others
⁃ Middle East & Africa: Saudi Arabia, UAE, Israel, Turkey, Egypt, South Africa & Rest of MEA.
⁃ Europe: UK, France, Italy, Germany, Spain, BeNeLux, Russia, NORDIC Nations and Rest of Europe.
⁃ Asia-Pacific: India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Australia and Rest of APAC.

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Expanding Applications in Asset Tracking and Supply Chain Monitoring Opening New Avenues

The ability of narrowband IoT to support low-cost, long battery life sensors is driving its evaluation and pilot implementations across new use cases beyond smart metering and street lighting. For example, asset tracking solutions leveraging narrowband connectivity allow real-time monitoring of high-value equipment and shipments across different geographic locations. This facilitates optimized utilization as well as timely repairs if issues arise. As narrowband IoT chipsets prove reliable for tracking stationary and mobile assets, more companies are expected to adopt the technology to improve visibility within complex supply chain networks.

5G Upgrade Cycle Driving Standardization and Interoperability Advancements

As major telecom operators worldwide deploy 5G infrastructure over the coming years, there will be parallel efforts to define interworking specifications between 5G New Radio and existing narrowband IoT networks. This standardization process aims to establish mechanisms for migrating narrowband deployments to shared 5G radio resources as coverage expands, thereby extending networks' useful lifetimes. Chipset vendors are collaborating with mobile operators to ensure narrowband modules can seamlessly leverage future 5G capabilities. Wider availability of multimode solutions meeting 3GPP specifications will strengthen narrowband IoT's role in applications requiring intermittent access to cellular connectivity.

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Key Questions Addressed in the Market Report:

What is the expected size, share, and CAGR of the Narrowband Internet of Things (IoT) chipset Market over the forecast period?
What are the key trends expected to influence the Narrowband Internet of Things (IoT) chipset Market between 2023 and 2030?
What is the expected demand for various types of products/services in the Narrowband Internet of Things (IoT) chipset Market?
What long-term impact will strategic advancements have on the Narrowband Internet of Things (IoT) chipset Market?
Who are the key players and stakeholders in the Narrowband Internet of Things (IoT) chipset Market?
What are the different segments and sub-segments considered in the Narrowband Internet of Things (IoT) chipset Market research study?
Strategic Points Covered in Table of Content of Global Narrowband Internet of Things (IoT) chipset Market:

Chapter 1 : Introduction, market driving forces, and product The study and research objectives are to investigate the Narrowband Internet of Things (IoT) chipset market.

Chapter 2: Exclusive Summary - Narrowband Internet of Things (IoT) chipset Market Fundamentals.

Chapter 3: The Changing Impact on Market Dynamics- Drivers, Trends, and the Challenges and Opportunities of Process Spectroscopy

Chapter 4: Narrowband Internet of Things (IoT) chipset Market Factor Analysis, Porter's Five Forces Analysis, Supply/Value Chain, SWOT Analysis, Market Entropy, and Patent/Trademark Analysis are all presented in this chapter

Chapter 5: 2017-2022 Forecast by Type, End User, and Region/Country

Chapter 6: Evaluating the key players in the Narrowband Internet of Things (IoT) chipset market, including the Competitive Landscape, Peer Group Analysis, BCG Matrix, and Company Profile.

Chapter 7: To evaluate the market by segments, countries, and manufacturers/companies, as well as revenue share and sales by major countries in these regions (2023-2030).

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