Narrowband Internet-of-Things (IoT) Chipset Market Growth, Trend, Statistics, Competition Strategies, Region And Analysis 2031| Huawei Technologies, u-blox Holding AG, Nordic Semiconductor

The Global Narrowband Internet-Of-Things (Iot) Chipset Market, valued at US$ 224.41 million in 2020, is expected to witness remarkable growth, reaching an estimated value of US$ 2.2 billion by the end of 2031. The market is projected to expand at a CAGR of 23.4% from 2021 to 2031, according to a recent report by Transparency Market Research.

Despite challenges posed by market sentiments and the ongoing global pandemic, the narrowband IoT chipset market is experiencing a surge in demand, driven by the growing adoption of consumer smart appliances and smart meters. This presents long-term value-grab opportunities for stakeholders in the market.

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Key Market Drivers:
Strategic Partnerships and Deployments: Companies are actively collaborating to launch power-efficient NB2 IoT chipsets, offering significant performance improvements for low-power, long-life IoT applications. Partnerships aim to deploy and test narrowband Internet-of-Things (NB-IoT) data connections, with successful tests covering distances of up to 100km from a base station.
Smart City Initiatives: The proliferation of smart city projects is fueling demand for narrowband IoT chipsets, especially in regions like Asia Pacific, where emerging economies such as India and China are actively participating in smart city deployments. The adoption of smart meters and the smart city concept are identified as key drivers for market growth.

Vehicle Telematics and Wearables: Despite financial constraints in various industries, stakeholders are investing in research and development to capitalize on long-term revenue opportunities in vehicle telematics, wearables, and other IoT applications.

Acceptance in Low Signal Areas: The market is witnessing increased acceptance of smart devices in low-signal areas, supporting smart city trial programs globally. Low power wide area (LPWA) technologies are aligning with connectivity infrastructure to facilitate applications such as smart metering, smart buildings, and smart street lighting.

Focus on Standardization: Analysts emphasize the need for standardization of low power wide area network technology to overcome challenges. Collaboration between semiconductor companies and government regulatory authorities is crucial for ensuring the standardization of LPWA network technology, especially in emerging economies.

Outlook and Opportunities:
The demand for narrowband IoT chipsets is expected to lead the growth of IoT connections, particularly in areas where high connection density, extended battery life, low cost, and enhanced indoor coverage are essential. Cellular NB-IoT is extensively utilized in various sectors, including industry, agriculture, healthcare, logistics, smart cities, and buildings.

Narrowband IoT Chipsets - A Cost-Effective Solution:
The market is witnessing an increased demand for cellular NB-IoT chipsets due to their cost efficiency in managing intelligent lighting, air conditioning, emergency alarms, and smart consumption measurements. The technology's simplicity in construction, low cost, and secure features contribute to its widespread adoption across various applications.

Narrowband Internet-of-Things (IoT) Chipset Market: Competition Landscape
Some of the leading players operating in the market are
• Huawei Technologies
• u-blox Holding AG
• Nordic Semiconductor
• Samsung
• MediaTek
• Sercomm
• Sequans Communications
• Qualcomm, Inc.
• Verizon Communications, Inc.
• Altair Semiconductor
• Vodafone Group Plc
• Intel Corporation
• Ericsson

Regions Covered
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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