Some of the key areas of focus for these players include product innovation and introduction to commercial markets, improving presence in multiple key regions, and increased investments in research and development efforts.
Narrowband IoT refers to a low power wide area network technology that has been developed to enable network connectivity between a wide variety of devices and services. Narrowband IoT connects devices in a simpler and more efficient manner in an already recognized mobile network.
NB-IoT provides features such as very low consumption of power, excellent range in underground sites and buildings, easy deployment in existing cellular networks, and lower cost of component. With the rising adoption of the IoT technology in application areas such as smart metering, smart homes, and smart appliances, the demand for NB-IoT chipsets has also increased significantly across the globe.
Transparency Market Research estimates that the market will exhibit a staggering 37.9% CAGR from 2017 to 2025, rising from a valuation of US$45.0 mn in 2016 to US$793.7 mn by 2025.
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In terms of deployment, the global market for NB-IoT chipset is segmented in the report into standalone, guardband, and inband. Of these, the segment of guardband dominated the global market in 2016, accounting for a massive 41.9% share.
The segment is expected to exhibit a promising 38.8% CAGR from 2017 to 2025, retaining its position as the leading contributor of revenue to the global market.
Other segments are expected to closely follow in terms of growth rate over the forecast period, with the segment of inband exhibiting a 37.8% CAGR and the segment of standalone NB-IoT chipset deployment expanding at a 36.3% CAGR over the forecast period. Despite high growth rate, the segment of standalone NB-IoT deployment is expected to lose its market share by the end of the forecast period.
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In terms of geography, the market for NB-IoT chipset has been segmented in the report into Asia Pacific, North America, Europe, Middle East & Africa (MEA), and Latin America.
Of these, the Asia Pacific market held the leading market share in terms of revenue contribution to the global market and is expected to retain its dominance during the forecasted period as well. Expected to exhibit an exponential 43.9% CAGR from 2017 to 2025, the Asia Pacific market for NB-IoT chipset is projected to see a massive increase in its revenue contribution to the global market, from nearly 37.5% in 2016 to 55.2% in 2025, of the overall revenue of the global market.
The rising demand for deployment of smart meters and the adoption of smart city concept in countries such as China, Singapore, and India are expected to be the key drivers of the NB-IoT technology in the region.
Some of the leading players operating in the global NB-IOT market are Huawei Technologies (China), Qualcomm, Inc. (The U.S.), u-blox Holding AG (Switzerland), Altair Semiconductor (Israel), Sequans Communications (France), Intel Corporation (The U.S.), Verizon Communications, Inc. (The U.S.), Telefonaktiebolaget L. M. Ericsson (Sweden), and Vodafone Group Plc (United Kingdom).
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