Dublin, Nov. 27, 2024 (GLOBE NEWSWIRE) -- The "Narrowband IoT Chipsets - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Narrowband IoT Chipsets was estimated at US$2.6 Billion in 2023 and is projected to reach US$24.6 Billion by 2030, growing at a CAGR of 37.6% from 2023 to 2030.
The growth in the Narrowband IoT chipsets market is driven by several factors, including the increasing adoption of IoT devices across various industries, the global expansion of smart city projects, and the growing demand for low-power, wide-area networks. In the utility sector, the need for smart metering and efficient energy management is fueling the demand for NB-IoT chipsets. The agriculture industry is also seeing rising adoption of NB-IoT-enabled devices for remote monitoring and resource management.
Furthermore, the ongoing deployment of 5G networks is expanding the capabilities of NB-IoT chipsets, particularly for applications requiring massive device connections. The technology's ability to provide cost-effective, reliable connectivity in areas with limited network infrastructure is further boosting its adoption across the globe.
What Emerging Trends Are Shaping the NB-IoT Chipsets Market?
Several technological and market trends are propelling the growth of the NB-IoT chipsets market. The rollout of 5G networks is expanding the potential of NB-IoT, as it integrates with 5G for more advanced applications requiring low-latency, massive device connections. Moreover, the growing demand for smart agriculture solutions, including soil monitoring and irrigation systems, is fueling the adoption of NB-IoT chipsets in rural areas where network infrastructure is limited.
Another significant trend is the integration of NB-IoT chipsets in smart metering solutions for utilities, enabling real-time data collection and optimization of energy and water usage. Additionally, the development of multi-mode chipsets that support both NB-IoT and LTE-M is providing flexibility for IoT devices across different network environments.
How Is Narrowband IoT Revolutionizing IoT Connectivity?
Narrowband IoT technology is transforming how devices connect and communicate, particularly in sectors that require wide coverage and low energy consumption. For example, in smart city initiatives, NB-IoT chipsets power devices that manage street lighting, waste collection, and air quality monitoring.
These chipsets are also gaining traction in the healthcare sector, where they enable wearable health monitors and medical devices to transmit data with minimal power consumption. Additionally, NB-IoT is critical for industrial IoT applications, supporting the monitoring of remote assets and infrastructure with extended battery life and low data costs. This technology is reshaping industries by allowing cost-effective, large-scale IoT deployments in previously challenging environments.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Narrowband IoT Chipsets Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Narrowband IoT Chipsets Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Infrastructure End-Use segment, which is expected to reach US$6.3 Billion by 2030 with a CAGR of a 36.4%. The Consumer Electronics End-Use segment is also set to grow at 40.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was valued at $774.2 Million in 2023, and China, forecasted to grow at an impressive 36.1% CAGR to reach $3.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Commsolid GmbH, Ericsson AB, Huawei Technologies Co., Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 179 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $2.6 Billion |
| Forecasted Market Value (USD) by 2030 | $24.6 Billion |
| Compound Annual Growth Rate | 37.6% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Narrowband IoT Chipsets - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Increasing Adoption of Narrowband IoT Chipsets in Smart City Projects Propels Demand for Connected Infrastructure and Devices
- Rising Demand for Low-Power Wide-Area Networks (LPWAN) in IoT Applications Drives Growth in the NB-IoT Chipset Market
- Expansion of Industrial IoT Applications in Manufacturing, Logistics, and Asset Management Fuels Adoption of NB-IoT Chipsets
- Growth in Smart Metering and Utility Management Solutions Spurs the Use of NB-IoT Chipsets for Real-Time Monitoring and Control
- Emergence of Connected Health Solutions Accelerates the Integration of NB-IoT Chipsets in Wearable Devices and Remote Monitoring Tools
- Increasing Adoption of Smart Agriculture Solutions Propels the Demand for NB-IoT Chipsets in Precision Farming Applications
- Advancements in Smart Home Technologies and Consumer IoT Devices Drive NB-IoT Chipset Adoption for Connected Appliances and Security Systems
- Growing Focus on Energy Efficiency and Battery Life Optimization in IoT Devices Boosts Demand for NB-IoT Chipsets
- Rapid Expansion of 5G Networks Supports the Deployment of NB-IoT Chipsets for Low-Latency and High-Capacity Applications
- Rising Demand for Asset Tracking and Fleet Management Solutions Drives the Use of NB-IoT Chipsets in the Transportation and Logistics Sector
FOCUS ON SELECT PLAYERS(Total 12 Featured)
- Commsolid GmbH
- Ericsson AB
- Huawei Technologies Co., Ltd.
- Intel Corporation
- Nokia Corporation
- Qualcomm, Inc.
- Samsung Electronics Co., Ltd.
- Sequans Communications SA
- u-blox Holding AG
- Verizon Communications, Inc.
- Vodafone Group PLC
For more information about this report visit https://www.researchandmarkets.com/r/qyhy9k
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