Narrowband-Internet of Things (NB-IoT) Market Size Reach to USD 32.5 Billion by 2031

According to the report published by Allied Market Research "The Narrowband-Internet of Things (NB-IoT) Market Size Reach to USD 32.5 Billion by 2031." These players have adopted different strategies such as new product launches collaborations expansion joint ventures agreements and others to increase their market share and maintain dominant shares in different regions.

Increasing adoption of IoT along with better battery life for connected devices and winding applications of NB-IoT technology is boosting the growth of the narrowband-internet of things (NB-IoT) market. In addition, the rapid development in IoT industry and rising demand for new cellular communication technology is positively impacting the growth of the narrowband-internet of things (NB-IoT) market. Increasing investments by technology companies and telecommunications service providers is expected to offer remunerative opportunities for the expansion of the narrowband-internet of things (NB-IoT) market during the forecast period.

Request Sample Report (Get Full Insights in PDF - 283 Pages) at: https://www.alliedmarketresearch.com/request-sample/A47224

The global narrowband-internet of things (nb-iot) market Share was valued at USD 634.3 million in 2021, and is projected to reach USD 32.5 billion by 2031, growing at a CAGR of 48.4% from 2022 to 2031.

The narrowband-internet of things industry is segmented on the basis of by component, deployment mode, application, industry vertical and region. On the basis of the component, the market is categorized into solution, and service. By deployment mode, it is classified into in-band, guard band, and standalone. By application, it is divided into smart meter, smart parking, alarm and detector, smart lighting, tracker, wearable, and, others. By industry vertical, it is classified into infrastructure, agriculture, automotive, healthcare, energy and utilities, manufacturing, consumer electronics, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

If you have any questions, Please feel free to contact our analyst at: https://www.alliedmarketresearch.com/connect-to-analyst/A47224

By component, the solution segment held the largest share in 2021, garnering nearly three-fourths of the global narrowband internet of things (NB-IoT) market revenue, and is projected to maintain its dominance by 2031. The service segment shows the fastest CAGR of 49.9% during the forecast period. This is driven by improving network efficiency, increasing the capacity to support a massive number of new connections using only a portion of the available spectrum.

By deployment mode, the standalone segment contributed to more than two-thirds of the global narrowband internet of things (NB-IoT) market share in 2021 and is projected to rule the roost by 2031. The same segment would also display the fastest CAGR of 50.3% throughout the forecast period. The surge in demand for IoT devices and providing energy-efficient and long-range network access to IoT devices fuel the segment growth.

Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/A47224

By region, North America held the major share in 2021, garnering more than three-fifths of the global narrowband internet of things (NB-IoT) market revenue, and is expected to dominate by 2031. This is due to the presence of various leading device manufacturers and network service providers in the U.S. and other major regions across North America. Asia-Pacific, on the other hand, would showcase the fastest CAGR of 46.4% from 2022 to 2031.

The key players that operate in the narrowband-internet of things industry are Huawei Technologies Co., Ltd., Intel Corporation, MediaTek Inc, Verizon Communications Inc., Vodafone Group plc, AT&T Inc., Nokia Corporation, Orange S.A., Qualcomm Technologies, Inc., and Telefonaktiebolaget LM Ericsson.

Buy Now & Get Exclusive Discount on this Report (283 Pages PDF with Insights, Charts, Tables, and Figures) at: https://www.alliedmarketresearch.com/narrowband-internet-of-things-nb-iot-market/purchase-options

Covid-19 Scenario

● The COVID-19 pandemic has rapidly spread globally and has negatively impacted the growth of the market due to the disruption in the production of IoT devices. Governments have imposed restrictions which in turn disrupted the supply chain of the narrowband internet of things (NB-IoT) market.

● However, rise in number of people staying at home has boosted the demand for rapid Internet connectivity owing to which there has been a substantial increase in data usage propelling the demand for the narrowband-IoT market during the pandemic.

Access the full summary at:https://www.alliedmarketresearch.com/narrowband-internet-of-things-nb-iot-market-A47224

Thanks for reading this article you can also get individual chapter-wise sections or region-wise report versions like North America Europe or Asia.

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Contact:
David Correa
5933 NE Win Sivers Drive
#205 Portland OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn and Twitter

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles Avenue. An e-access library is accessible from any device anywhere and at any time for entrepreneur's stakeholder's researchers and students at universities. With reports on more than 60000 niche markets with data comprising of 600000 pages along with company profiles on more than 12000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.

This release was published on openPR.