Newark, NJ, Jan. 23, 2020 (GLOBE NEWSWIRE) -- The global Narrowband IoT (NB-IoT) Chips market is expected to grow from USD 202.23 Million in 2018 to USD 5,541.45 Million by 2026 at a CAGR of 51.3% during the forecast period 2019-2026, according to the new report published by Fior Markets. Rising use of IoT along with increase in use of connected devices and increasing demand for low-power, low-cost, and long-range connectivity technologies are the two factors which may propel growth of the Narrowband IoT (NB-IoT) Chipset market. But tough competition from other LPWA technologies is restricting the growth of Narrowband IoT (NB-IoT) Chipset market. However, emerging smart cities and smart buildings is another factor expected to provide numerous growth opportunities for the Narrowband IoT (NB-IoT) Chipset Market in forthcoming years.
Narrowband IoT (NB‑IoT) is defined as a new method of communicating with “things” that need limited amounts of data, over long periods, in places that are hard to reach. It is essentially a wireless technology that was standardized by 3GPP in 2016. Narrowband IoT is the best in class low-power wide area (LPWA) technology to ease functioning of various new industrial IoT (IIoT) devices, which includes smart parking, wearables, utilities, and industrial solutions. Being a low-power technology, NB-IoT finds its applications in devices and applications that operate at lower data rates. The technology also extends battery life of devices. The NB-IoT module, which deploys the NB-IoT chipset, can operate for more than 10 years using a single-cell primary battery.
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Key players operating in the global Narrowband IoT (NB-IoT) Chips market include are Huawei Technologies Co. Ltd., Qualcomm Incorporated, Intel Corporation, Nordic Semiconductor, Sanechips Co. Ltd., Samsung Group, MediaTek Inc., Sercomm Corporation, Xiamen Cheerzing IOT Technology Co. Ltd., u-blox Holding AG, Telit Communications PLC, Quectel Wireless Solutions Co., Ltd, and Sequans Communications S.A. among others. To enhance their market position in the global Narrowband IoT (NB-IoT) Chips market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in February 2019, Nordic Semiconductor’s recently launched nRF9160 System-in-Package (SiP) LTE-M/NB-IoT cellular IoT (CIoT) module is among the first products to be awarded PSA Certified Level 1 certification under a new IoT security initiative spearheaded by Arm.
The guard band segment is dominating the market with the highest share of 50.90% in 2018.
The deployment type segment is classified as stand-alone, guard band and In-band. The guard band segment is dominating the market with the highest share in 2018. Guard band helps to reuse antenna and RF modules of existing infrastructure, and no need for frequency planning, compared to stand-alone and in-band deployment scenarios. Moreover, there is requirement of no additional spectrum cost in guard band deployment which is further complementing its growth.
The wearable devices segment is dominating the market and valued around USD 53.59 Million in 2018.
The device segment is divided into segments such as smart parking, smart meters, trackers, alarms and detectors, smart streetlights, smart appliances, wearable devices and other devices. The wearable devices segment is dominating the market in 2018. Increase in demand for personal care diagnostics and growing aging population in developed countries such as Japan, the UK, Germany, and the US drive the demand for wearable devices.
The energy and utilities segment is dominating the market with the highest share of 23.20% in 2018.
Vertical segment includes agriculture, automotive and transportation, energy and utilities, healthcare, manufacturing, safety and security, infrastructure, building automation and consumer electronics. The energy and utilities segment is dominating the market with the highest share in 2018. Adoption of NB-IoT technology is anticipated to help the energy sector to achieve business aims. In the coming years, The technology can be deployed for overall plant automation, process optimization, supply chain optimization, increased safety, and integrated business processes, while fulfilling corporate social responsibility.
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Regional Segment Analysis of the Narrowband IoT (NB-IoT) Chips Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific region dominated the global Narrowband IoT (NB-IoT) Chipset market with USD 83.31 Million in 2018 where as the North America rapidly growing region in the market. Asia Pacific is dominating the market due to the favourable government policies and a strong presence of NB-IoT chipsets, modules, and infrastructure providers in China are the prime factors fueling the growth of the market in China. North America is a rapidly growing region due to the early adoption of narrowband IoT in the region along with the presence of major players which is driving the market in this region. The increasing demand for long-range connectivity is also fuelling the market growth..
About the report:
The global Narrowband IoT (NB-IoT) Chips market is analysed on the basis of value (USD million) and volume (Thousand Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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