The Worldwide Narrowband IoT (NB-IoT) Chipset Industry is Expected to Reach $7.7 Billion by 2028
The Global Narrowband IoT (NB-IoT) Chipset Market is projected to reach $7.7 billion by 2028, growing at a CAGR of 51.6%.
This growth is supported by low power consumption, high system capacity, and improved spectrum efficiency, enabling deep coverage for various IoT applications. The market is facing challenges due to the COVID-19 pandemic, impacting supply chains and the availability of connectivity devices.
Despite these challenges, factors like increasing IoT adoption and better battery life for connected devices are expected to drive market expansion.
- Projected market growth to $7.7 billion by 2028 with a CAGR of 51.6%.
- Technological advantages include low power consumption and high system capacity.
- COVID-19 pandemic is slowing growth due to supply chain disruptions.
- Incompatibility with high data speeds limits applications compared to LTE-M.
The Global Narrowband IoT (NB-IoT) Chipset Market size is expected to reach
A tiny electrical component known as a Narrowband IoT (NB-IoT) chipset is used in many machines, electronic gadgets, and physical items.
Due to numerous advantages of the technology, including low power consumption for user devices, high system capacity, and improved spectrum efficiency enabling deep coverage of an area, the narrowband IoT chipset market is expanding at a rapid rate. A wide variety of new Internet of Things (IoT) devices and services are made possible by the standards-based low power wide area (LPWA) technology known as narrowband Internet of Things (NB-IoT).
In deep coverage, NB-IoT dramatically increases spectrum efficiency, system capacity, and user device power consumption. A variety of use cases can accommodate a battery life of more than 10 years. The technologies utilized to transport data nowadays range widely. Each has distinct advantages and disadvantages, and the appropriate technology is selected based on the specific circumstances.
The most discussed in recent years and one that will be widely used in future years across multiple industries is NB-IoT (Narrowband Internet of Things). A lot of devices can communicate data using the NB-IoT technology even in areas without coverage from a typical mobile network. A more reliable data transport is ensured by the use of a licensed frequency band where there is no interruption from other devices. A network that can span over big regions while using less energy is an LPWAN, and this is what the NB-IoT is.
COVID-19 Impact Analysis
As lockdowns were imposed all over the world and the continuity of operations for the majority of industries is significantly compromised, the COVID-19 pandemic is having a significant impact on global supply chains and logistics. Several nations have halted all imports as a result of the COVID-19 pandemic out of concern for further viral spread.
The pandemic is anticipated to cause a decrease in the availability of connectivity devices, which is expected to cause the rate of growth of the NB-IoT chipset market to be slower than anticipated. Moreover, the market for smart street lighting has been impacted by the expansion of COVID-19, which has also had an impact on investments in smart cities and infrastructure projects for roads and highways.
Market Growth Factors
Increasing Adoption of IOT Along With Better Battery Life for Other Connected Devices
Battery life is a major aspect in the world of IoT devices as well as other connected devices today. Smartphone makers are continuously striving to improve their devices' massive battery life because modern smartphones are so different from their models from only a few years ago.
Technologies are evolving and becoming more advanced and sophisticated every year. The market for connected devices is expanding, particularly in the industrial sector, as M2M communications become more prevalent. In addition, connectivity has been made possible by market trends, like IoT in practically every sector, encompassing healthcare, consumer electronics, or retail.
Lesser Initial and Maintenance Costs Along With Increasing Reliability
Companies is expected to not make significant investments in new technology if it does not improve their bottom line in the long run. That is actually how it should be because a business is fundamentally a living entity that is trying to survive in a hostile market where cost is a very significant factor for the growth and revenue of any business.
With the rapidly expanding information infrastructure and the world's economy being so interconnected, this is more relevant than ever. NB-IoT and similar technologies use a fairly straightforward waveform, which uses less power. But it's not only about power savings. As NB-IoT becomes more and more popular, making NB-IoT chips will become more and more affordable.
Market Restraining Factors
Incompatibility with High Data Speeds Along With the Availability of Alternatives Across The Market
Compared to LTE-M, NB-IoT is less suitable for situations where very low network latency is required. In situations where near-real-time data could be necessary, where LTE-M is a better fit, it will therefore be less common. In the transition to 5G, both NB-IoT and LTE-M play a role in enabling use cases that demand speed and are frequently crucial.
Not all of this depends on the communication standard that is selected. For fixed or mobile devices, NB IoT was created as a pure data transfer method. It cannot seamlessly switch between cells and cannot serve applications that need low latency.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Partnerships, Collaborations and Agreements : 2018, Jul - 2022, Jun) Leading Players
Chapter 4. Global Narrowband IoT (NB-IoT) Chipset Market by Application
4.1
4.2 Global Smart Meters Market by Region
4.3 Global Trackers Market by Region
4.4 Global Wearable Devices Market by Region
4.5 Global Smart Parking Market by Region
4.6 Global Others Market by Region
Chapter 5. Global Narrowband IoT (NB-IoT) Chipset Market by Deployment
5.1 Global Guard Market by Region
5.2 Global In-band Market by Region
5.3 Global Stand-alone Market by Region
Chapter 6. Global Narrowband IoT (NB-IoT) Chipset Market by Offering
6.1 Global Hardware Market by Region
6.2 Global Narrowband IoT (NB-IoT) Chipset Market by Hardware Type
6.2.1 Global Processor Market by Region
6.2.2 Global
6.2.3 Global Power Management Unit Market by Region
6.3 Global Software Market by Region
Chapter 7. Global Narrowband IoT (NB-IoT) Chipset Market by Vertical
7.1 Global Infrastructure Market by Region
7.2
7.3
7.4 Global Agriculture Market by Region
7.5
7.6 Global Others Market by Region
Chapter 8. Global Narrowband IoT (NB-IoT) Chipset Market by Region
Chapter 9. Company Profiles
9.1 Samsung Electronics Co., Ltd. (
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expense
9.1.5 Recent strategies and developments:
9.1.5.1 Partnerships, Collaborations, and Agreements:
9.1.5.2 Product Launches and Product Expansions:
9.1.6 SWOT Analysis
9.2 Intel Corporation
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expenses
9.2.5 SWOT Analysis
9.3 U-blox Holding AG
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segment and Regional Analysis
9.3.4 Research & Development Expense
9.3.5 Recent strategies and developments:
9.3.5.1 Product Launches and Product Expansions:
9.3.5.2 Acquisition and Mergers:
9.4
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Regional Analysis
9.4.4 Research & Development Expenses
9.4.5 Recent strategies and developments:
9.4.5.1 Partnerships, Collaborations, and Agreements:
9.4.5.2 Product Launches and Product Expansions:
9.5
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expense
9.5.5 Recent strategies and developments:
9.5.5.1 Partnerships, Collaborations, and Agreements:
9.6 Qualcomm, Inc.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Research & Development Expense
9.6.5 Recent strategies and developments:
9.6.5.1 Partnerships, Collaborations, and Agreements:
9.7 Nordic Semiconductors ASA
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Regional Analysis
9.7.4 Research & Development Expense
9.7.5 Recent strategies and developments:
9.7.5.1 Partnerships, Collaborations, and Agreements:
9.8 MediaTek, Inc.
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Regional Analysis
9.8.4 Research & Development Expenses
9.8.5 Recent strategies and developments:
9.8.5.1 Partnerships, Collaborations, and Agreements:
9.9 Sercomm Corporation
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Regional Analysis
9.9.4 Research & Development Expenses
9.10.
9.10.1 Company Overview
9.10.2 Financial Analysis
9.10.3 Segmental and Regional Analysis
9.10.4 Research & Development Expenses
For more information about this report visit https://www.researchandmarkets.com/r/67w1vi
Media Contact:
Research and Markets
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For
For GMT Office Hours Call +353-1-416-8900
Fax (outside
Logo: http://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/the-worldwide-narrowband-iot-nb-iot-chipset-industry-is-expected-to-reach-7-7-billion-by-2028--301726683.html
SOURCE
FAQ
What is the projected market size for NB-IoT chipsets by 2028?
What is the expected CAGR for the NB-IoT chipset market?
What factors are driving the growth of the NB-IoT chipset market?
How has COVID-19 impacted the NB-IoT chipset market?
What are the limitations of NB-IoT technology?
