Press release
Narrowband Internet-of-Things (IoT) Chipset Market to Reach USD 2.2 Billion by 2031, Growing at a 23.4% CAGR - Report by Transparency Market Research Inc.
Narrowband Internet-of-Things (IoT) Chipset Market
The Narrowband Internet-of-Things (IoT) Chipset Market is expected to reach a valuation of US$ 2.2 billion by the end of 2031. Additionally, the report highlights that the market is set to expand at a compound annual growth rate (CAGR) of 23.4% during the forecast period from 2022 to 2031.
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Key players operating in the global Narrowband Internet-of-Things (IoT) Chipset 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
By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
• Market Drivers and Challenges
Drivers
• Increasing Adoption of IoT: Growing use of IoT devices across various industries for automation, monitoring, and optimization.
• Demand for Low-Power Connectivity: Need for low-power, wide-area connectivity solutions to support a large number of devices with minimal energy consumption.
• Expansion of Smart City Projects: Government initiatives and investments in smart city projects driving the deployment of NB-IoT solutions.
Challenges
• High Initial Deployment Costs: Significant costs associated with the development and deployment of NB-IoT infrastructure.
• Technical Limitations: Challenges in ensuring reliable connectivity and coverage in diverse and complex environments.
• Regulatory and Standardization Issues: Varied regulatory frameworks and lack of standardization affecting the global adoption of NB-IoT technology.
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Market Trends
• Integration with 5G: Increasing integration of NB-IoT with 5G networks to enhance connectivity and support a larger number of devices.
• Advancements in Semiconductor Technology: Development of advanced NB-IoT chipsets with improved performance, reduced size, and lower power consumption.
• Focus on Sustainability: Growing emphasis on developing energy-efficient and environmentally friendly IoT solutions.
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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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