Narrowband-IoT (NB-IoT) Chipset Market to Reach USD 16.5 Billion by 2036 | CAGR 19.5%

The global Narrowband-IoT chipset market was valued at USD 2.8 billion in 2026 and is expected to reach USD 16.5 billion by 2036, growing at an annual rate of 19.5% over that period. This expansion is being driven by the rapid spread of IoT technology across industries, growing machine-to-machine communication, increasing use of wearable health monitoring devices, and smart city projects rolling out around the world.

Market Overview

NB-IoT chipsets provide low-power wide-area network connectivity for applications spanning healthcare, agriculture, logistics, industrial automation, and consumer electronics. What makes them attractive is a combination of features that conventional cellular modules struggle to match: batteries that last years rather than months, the ability to maintain signal deep inside buildings where other wireless technologies fail, and deployment costs that make large-scale rollouts financially viable.

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As 5G infrastructure continues to expand and edge computing becomes more widespread, NB-IoT is finding a natural place within these evolving connectivity ecosystems, which is strengthening the long-term outlook for the market.

Adoption of Smart & IoT-Enabled Connectivity

The demand for NB-IoT chipsets is being driven by real-world applications that are already deployed at scale. Smart meters that track utility consumption remotely, asset tracking systems that monitor goods as they move through supply chains, wearable health devices that keep continuous tabs on vital signs, and remote monitoring platforms that let technicians oversee equipment from a distance are all contributing to steady chipset demand.

Healthcare applications are expected to grow the fastest, particularly remote patient monitoring and continuous vital tracking, as healthcare systems look for ways to manage chronic conditions outside of hospital settings. Guard band deployment, which uses spectrum between existing LTE bands, is emerging as the fastest-growing deployment mode because it offers better spectrum efficiency and network reliability without requiring dedicated frequency allocations.

Key Market Trends

The technology itself is evolving alongside the market. Integration of AI and edge computing capabilities directly into NB-IoT chipsets is allowing devices to process data locally rather than sending everything to the cloud, which reduces latency and bandwidth costs. Wearable health and personal care devices are expanding rapidly as consumers become more comfortable with continuous monitoring. Multi-mode chipsets that support NB-IoT alongside other low-power wide-area technologies are gaining traction because they give device manufacturers more flexibility in how they design connectivity into their products. Meanwhile, smart agriculture and industrial automation continue to create new use cases that did not exist a few years ago.

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Regional Insights

Asia-Pacific is expected to lead the global market in 2026, and this reflects the region's strength in semiconductor manufacturing combined with aggressive IoT expansion across China, Japan, South Korea, and India. These countries have the industrial base to produce chipsets at scale and the domestic markets to absorb them.

North America and Europe are projected to grow steadily, driven by ongoing investment in smart city infrastructure, adoption of IoT in healthcare, and the continued rollout of 5G networks that integrate NB-IoT as a complementary technology. Latin America and the Middle East and Africa are at an earlier stage but are beginning to see meaningful growth as digital transformation initiatives gain momentum.

Market Drivers

Several forces are pushing this market forward at once. IoT and machine-to-machine communication are becoming more common across industries, creating baseline demand for connectivity solutions that can handle large numbers of low-bandwidth devices efficiently. Energy efficiency is a practical concern for any deployment involving thousands or millions of battery-powered devices, and NB-IoT's low power consumption directly addresses that challenge. Government-led smart city programs are creating structured demand in many markets, and the expansion of 5G networks is opening up new opportunities for NB-IoT integration rather than replacing it.

Market Opportunities

Looking ahead, there are several areas where growth is likely to accelerate. AI-enabled chipsets that can perform edge intelligence locally on the device are opening up applications that were not practical when every decision required a round trip to the cloud. Smart agriculture and environmental monitoring represent enormous potential markets where NB-IoT's combination of low power, wide coverage, and low cost makes large-scale sensor deployments economically viable. Telehealth and wearable medical devices continue to expand as healthcare systems look for ways to deliver care more efficiently. Finally, the development of multi-band and multi-mode connectivity solutions is giving manufacturers more options for designing products that can work across different markets and deployment scenarios.

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Key Players

The companies leading this market include Qualcomm, MediaTek, Intel Corporation, Samsung Electronics, ZTE Corporation, Huawei Technologies, Nordic Semiconductor, U-Blox Holding, Sequans Communications, GCT Semiconductor, Altair Semiconductor, and Sierra Wireless.

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