Yahoo Finance The Global Narrowband IoT (NB-IoT) Chipset Market size is expected to reach $7.7 billion by 2028, rising at a market growth of 51.6% CAGR during the forecast period
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.
New York, Sept. 28, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Narrowband IoT Chipset Market Size, Share & Industry Trends Analysis Report By Application, By Deployment, By Offering, By Vertical, By Regional Outlook and Forecast, 2022 – 2028" - https://www.reportlinker.com/p06322210/?utm_source=GNW
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 would 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 would 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.
Offering Outlook
By Offering, the Narrowband IoT (NB-IoT) Chipset Market is divided into Hardware and Software. In 2021, the software segment garnered a substantial revenue share of the narrowband IoT chipset market. The rise in the growth of the segment is owing to the increasing number of technological advancements in the technology. Narrowband IoT chipset-integrated software is increasingly becoming more sophisticated, which is allowing the incorporation of a large number of advanced technologies in individual software. Therefore, the growth of the market is being majorly stimulated.
Deployment Outlook
On the basis of Deployment, the Narrowband IoT (NB-IoT) Chipset Market is segmented into Guard, In-band, and Standalone. In a guard deployment scenario, operators install NB-IoT in guard bands using the available LTE spectrum. The rapidly increasing growth of the segment is primarily owing to the increased efficiency of this type of deployment. In addition, guard deployment is also cost-effective, due to which, they are being majorly integrated into affordable devices in several countries and therefore, the growth of the segment is booming.
Application Outlook
By Application, the Narrowband IoT (NB-IoT) Chipset Market is classified into Smart Meters, Smart Parking, Trackers, Alarms & Detectors, Wearable Devices, and Other Devices. The surging growth of the segment is attributed to the widespread urbanization all over the world. With an increasing number of people migrating to urban areas, the demand for smart homes is on a rise, which is leading to a boom in the adoption of smart meters. Due to the lightweight and compact nature of narrowband IoT chipsets, they are being increasingly deployed in smart meters. This factor is bolstering the growth of the segment.
Vertical Outlook
Based on Vertical, the Narrowband IoT (NB-IoT) Chipset Market is categorized into Agriculture, Automotive & Transportation, Energy & Utilities, Healthcare, Infrastructure, and Others. In 2021, the agriculture segment emerged as the fastest-growing segment of the narrowband IoT chipset market. The surge in the growth of the segment is majorly due to the increasing growth of the agriculture industry. The utilization of narrowband IoT chipsets is rapidly increasing for the safety and security of fields and farms. Therefore, the growth of the segment is being significantly augmented.
Regional Outlook
Region-Wise, the Narrowband IoT (NB-IoT) Chipset Market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2021, Asia-Pacific held the highest revenue share of the narrowband IoT chipsets market. The growth of the regional market is ascribed to the rapid development of infrastructure across the region as the regional countries are in their developing phase. Moreover, the widespread urbanization in the region is also a crucial factor complementing the growth of the regional market. The market in this region is being driven by the booming agricultural industry of India.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Samsung Electronics Co., Ltd. is the forerunner in the Narrowband IoT (NB-IoT) Chipset Market. Companies such as Huawei Technologies Co. Ltd., Qualcomm, Inc. and Intel Corporation are some of the key innovators in Narrowband IoT (NB-IoT) Chipset Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsung Electronics Co., Ltd., Intel Corporation, U-blox Holding AG, Sequans Communications S.A., Huawei Technologies Co. Ltd., Qualcomm, Inc., Nordic Semiconductor ASA, MediaTek, Inc., Sercomm Corporation and Sanechips Technology Co., Ltd.
Recent Strategies deployed in Narrowband IoT (NB-IoT) Chipset Market
Partnerships, Collaborations and Agreements:
Jun-2022: Nordic came into an agreement with Huawei, a leading global provider of ICT infrastructure and smart devices. The agreement aimed to offer a FRAND royalty-bearing component-level license of the LPWA cellular IoT standard essential patents of Huawei to Nordic along with its customers. This agreement would also allow Nordic to provide comprehensive legal protection to its cellular IoT customers.
Apr-2022: Samsung came into a partnership with ABB, a global technology company. This partnership aimed to expand the integration of Samsung SmartThings within residential as well as commercial buildings through the joint development of a cloud-to-cloud integration.
Feb-2022: Nordic teamed up with Acklio, an IoT software company. This collaboration aimed to port and showcase Static Context Header Compression operating across its nRF9160 Low power System-in-Package along with integrated LTE-M/NB-IoT modem as well as GNSS.
Feb-2022: Sequans collaborated with MICROEJ VEE, a standard software Edge container. This collaboration aimed to offer major benefits, like a fast go-to-production track, to the IoT customers of Sequans.
Jan-2022: Sequans entered into an agreement with Renesas, a premier supplier of advanced semiconductor solutions. Following this agreement, Sequans would help Renesas to strengthen the go-to-market prospects Taurus 5G and LTE-M/NB-IoT Monarch 2 platforms of Sequans.
Dec-2021: Nordic partnered with Polte, the developer of the C-LoC technology, This partnership aimed to offer the ability to incorporate precise, secure, and globally available location intelligence within their Massive IoT-based asset tracking infrastructure to developers utilizing nRF9160 low power System-in-Package of Nordic.
Nov-2021: Nordic collaborated with Krakow, a Poland-based AVSystem. Following this partnership, the companies aimed to work on ensuring unbeatable interoperable Lightweight M2M connectivity between the Coiote IoT Device Management and the nRF Connect SDK of Nordic while developing IoT devices on the basis of nRF9160 System-in-Package.
Oct-2021: Sequans teamed up with iBASIS, a communications solutions provider. Following this collaboration, the companies aimed to avail the Global Access for Things of iBASIS across the Monarch 2 GM02S NEKTAR development Kit of Sequans. Moreover, this collaboration would also offer the ability to quickly connect devices and select mobile networks to the customers of Sequans to provide Low Power Wide Area Network technologies.
Sep-2020: MediaTek entered into a partnership with Tuya Smart, a leader in providing AI+IoT platforms. Following this partnership, the companies aimed to unveil their novel Narrow Band-Internet of Things modules viz. NM1, NM1-GL, and NM1-CT. Moreover, the solutions are built on 3GPP Release 14 standard MT2625 of MediaTek and powered by the cloud platform of Tuya in order to allow devices to provide advantages to smart city applications, including fire hydrant inspections, street light controllers, and municipal manhole covers.
Aug-2020: MediaTek joined hands with Inmarsat, a satellite telecoms company. This collaboration aimed to propel market efforts and initiatives to converge satellite and cellular networks in the 5G era.
Product Launches and Product Expansions:
Dec-2021: Sequans introduced low-power GNSS positioning capability to its Monarch 2 LTE-M/NB-IoT platform. This product expansion would deliver accurate positioning along with reduced power consumption to the IoT customers of Sequans in order to eliminate the requirement for any external positioning chipset.
Feb-2021: Qualcomm released the Qualcomm 5G Fixed Wireless Access platform gen 2. The new fourth-generation Qualcomm Snapdragon X65 5G Modem-RF System-powered Qualcomm 5G aimed to allow new business prospects to mobile operators by enabling them to provide fixed internet broadband services to businesses and homes employing their 5G network infrastructure.
Apr-2020: Qualcomm unveiled the Qualcomm 212 LTE IoT Modem, a robust power-efficient single-mode NB-IoT chipset. The new product aimed to propel the expansion of cellular IoT through its advanced power-efficient chipset architecture allowing extremely low average power consumption.
Nov-2019: Huawei rolled out nuSIM, a cellular IoT chip compatible with the NB-IoT network. With this launch, the company aimed to offer an integrated substitute to prevailing SIM solutions, optimized to be utilized within IoT networks. The compact functionality along with the integrated simple digital provisioning process offers considerable benefits in terms of efficiency and cost.
Acquisitions and Mergers:
Apr-2020: u-blox took over Thingstream, an internet of things communications-as-a-service provider. With this acquisition, the company aimed to expand its services portfolio via a comprehensive IoT connectivity solution with the ability to bolster the penetration of u-blox into a new dimension of the services business of Thingstream in order to offer a secure, reliable, and smart solution to integrate sensor data into its cloud enterprise.
Scope of the Study
Market Segments covered in the Report:
By Application
• Alarms & Detectors
• Smart Meters
• Trackers
• Wearable Devices
• Smart Parking
• Others
By Deployment
• Guard
• In-band
• Stand-alone
By Offering
• Hardware
o Processor
o Memory
o Power Management Unit
• Software
By Vertical
• Infrastructure
• Energy & Utilities
• Automotive & Transportation
• Agriculture
• Healthcare & Dental
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Samsung Electronics Co., Ltd.
• Intel Corporation
• U-blox Holding AG
• Sequans Communications S.A.
• Huawei Technologies Co. Ltd.
• Qualcomm, Inc.
• Nordic Semiconductor ASA
• MediaTek, Inc.
• Sercomm Corporation
• Sanechips Technology Co., Ltd
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