Global Narrowband IoT Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Narrowband IoT is a data transmission standard designed to enable devices to operate in mobile carrier networks. Low bandwidth signals are used by NB-IoT technology to communicate inside the framework of GSM and LTE. The fundamental elements of NB-IoT systems are specially constructed gadgets and sensors. These gadgets gather data about their environment and send it to NB-IoT base stations or transmission nodes. The increasing penetration of IoT connected devices and growing demand for in-car infotainment services are key factors driving the market growth.
The rising penetration of IoT connected devices is contributing towards the growth of the Global Narrowband IoT market. For instance - as per Statista - as of 2020, the total number of Internet of Things (IoT) devices worldwide were estimated at 9.7 billion in 2020, and as per projection the number of IoT devices would grow to 29 billion IoT devices in 2030. Also, growing investment in smart cities and smart buildings and rising need for connectivity in IoT applications would create lucrative growth prospectus for the market over the forecast period. However, the high deployment Cost of Narrowband IoT devices and availability of alternatives stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Narrowband IoT Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of leading market players and rising adoption of NB IoT technology in the region. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising investment in smart cities and growing employment of narrowband IoT technology in the region.
Major market players included in this report are:
- El Huawei Technologies Co Limited
- Qualcomm Technologies, Inc
- Ericsson Corporation
- Vodafone Group Plc
- Nokia Corporation
- SEQUINS Communications SA
- Quectel Wireless Solutions Co., Ltd.
- ZTE Corporation
- Sierra Wireless
- Intel Corporation.
Recent Developments in the Market:
- In September 2019: DISH selects Ericsson for deployment of NB-IoT radio access and core network, including radiofrequency design.
- In December 2020, BSNL in partnership with the Skylo announced the world's first satellite based Narrow Band Internet of Things network in India. This partnership is intended to bring a breakthrough in satellite based narrowband internet of things technology.
Global Narrowband IoT Market Report Scope:
- Historical Data: 2019-2020-2021
- Base Year for Estimation: 2021
- Forecast period: 2022-2029
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Component, Application, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component
- Software
- Services
- Hardware
By Application
- Smart Agriculture
- Pollution Monitoring
- Predictive Maintenance
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLA
- Rest of the World
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Narrowband IoT Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Narrowband IoT Market, by Component, 2019-2029 (USD Billion)
- 1.2.3. Narrowband IoT Market, by Application, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Narrowband IoT Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Narrowband IoT Market Dynamics
- 3.1. Narrowband IoT Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing penetration of IoT connected devices
- 3.1.1.2. Growing demand for in-car infotainment services
- 3.1.2. Market Challenges
- 3.1.2.1. High deployment Cost of Narrowband IoT
- 3.1.2.2. Availability of alternatives
- 3.1.3. Market Opportunities
- 3.1.3.1. Growing investment in smart cities and smart buildings
- 3.1.3.2. Rising need for connectivity in IoT applications
Chapter 4. Global Narrowband IoT Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Narrowband IoT Market, by Component
- 6.1. Market Snapshot
- 6.2. Global Narrowband IoT Market by Component, Performance - Potential Analysis
- 6.3. Global Narrowband IoT Market Estimates & Forecasts by Component 2019-2029 (USD Billion)
- 6.4. Narrowband IoT Market, Sub Segment Analysis
- 6.4.1. Software
- 6.4.2. Service
- 6.4.3. Hardware
Chapter 7. Global Narrowband IoT Market, by Application
- 7.1. Market Snapshot
- 7.2. Global Narrowband IoT Market by Application, Performance - Potential Analysis
- 7.3. Global Narrowband IoT Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
- 7.4. Narrowband IoT Market, Sub Segment Analysis
- 7.4.1. Smart Agriculture
- 7.4.2. Pollution Monitoring
- 7.4.3. Predictive Maintenance
- 7.4.4. Others
Chapter 8. Global Narrowband IoT Market, Regional Analysis
- 8.1. Narrowband IoT Market, Regional Market Snapshot
- 8.2. North America Narrowband IoT Market
- 8.2.1. U.S. Narrowband IoT Market
- 8.2.1.1. Component breakdown estimates & forecasts, 2019-2029
- 8.2.1.2. Application breakdown estimates & forecasts, 2019-2029
- 8.2.2. Canada Narrowband IoT Market
- 8.3. Europe Narrowband IoT Market Snapshot
- 8.3.1. U.K. Narrowband IoT Market
- 8.3.2. Germany Narrowband IoT Market
- 8.3.3. France Narrowband IoT Market
- 8.3.4. Spain Narrowband IoT Market
- 8.3.5. Italy Narrowband IoT Market
- 8.3.6. Rest of Europe Narrowband IoT Market
- 8.4. Asia-Pacific Narrowband IoT Market Snapshot
- 8.4.1. China Narrowband IoT Market
- 8.4.2. India Narrowband IoT Market
- 8.4.3. Japan Narrowband IoT Market
- 8.4.4. Australia Narrowband IoT Market
- 8.4.5. South Korea Narrowband IoT Market
- 8.4.6. Rest of Asia Pacific Narrowband IoT Market
- 8.5. Latin America Narrowband IoT Market Snapshot
- 8.5.1. Brazil Narrowband IoT Market
- 8.5.2. Mexico Narrowband IoT Market
- 8.5.3. Rest of Latin America Narrowband IoT Market
- 8.6. Rest of The World Narrowband IoT Market
Chapter 9. Competitive Intelligence
- 9.1. Top Market Strategies
- 9.2. Company Profiles
- 9.2.1. El Huawei Technologies Co.
- 9.2.1.1. Key Information
- 9.2.1.2. Overview
- 9.2.1.3. Financial (Subject to Data Availability)
- 9.2.1.4. Product Summary
- 9.2.1.5. Recent Developments
- 9.2.2. Qualcomm Technologies, Inc
- 9.2.3. Ericsson Corporation
- 9.2.4. Vodafone Group Plc
- 9.2.5. Nokia Corporation
- 9.2.6. SEQUINS Communications SA
- 9.2.7. Quectel Wireless Solutions Co., Ltd.
- 9.2.8. ZTE Corporation
- 9.2.9. Sierra Wireless
- 9.2.10. Intel Corporation.
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption