The narrowband IoT (NB-IoT) market is expected to grow from USD 16.7 Million in 2017 to USD 181.02 Million by 2022, at a CAGR of 61.06% between 2017 and 2022.
The increasing adoption of IoT and growth in network-enabled devices, and demand for long-range connectivity is driving the market. The existing LPWA technologies are fragmented, non-standardized, and require a high operational cost. The narrowband IoT (NB-IoT) technology is expected to overcome these shortcomings as it is highly reliable, consumes less power, and has low operational cost.
This report segments the narrowband IoT market based on offering, device, deployment type, end-use application, and geography. The market has been segmented on the basis of offerings into hardware, software, cellular network, and services. The market for software is expected to hold the largest market in 2017. The increasing adoption of machine-to-machine connectivity is expected to increase the need for managing the devices from remote locations which is the major driver for the growth of software solutions in the NB-IoT market.
North America accounted for the largest share of the NB-IoT market. The U.S. is major contributor to the growth of narrowband IoT market in North America. Investment from U.S. government towards implementation of IoT across various sectors such as infrastructure and utilities under programs such as "Smart America" is driving the North America market for NB-IoT. Deployment of smart city and smart infrastructure in countries such as China, Japan and India contributes to the highest growth of the Asia-Pacific region during the forecasted period.
NB-IoT would enable real-time collection of massive data from vehicles, drivers, pedestrians, road sensors, and cameras to help streamline the flow of the traffic. It can help optimize traffic lights and road usage, direct public transportation to where it is needed most, navigate vehicles to avoid congestion, and raise tolls to limit traffic entering a congestion zone.
- Commsolid GmbH
- Huawei Technologies Co. Ltd.
- Intel Corporation
- Mistbase Communication System
- Nokia Corporation
- Qualcomm Incorporated
- Samsung Electronics
- Sequans Communications S.A.
- U-Blox Holding AG
- Verizon Communications
- Vodafone Group PLC
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 NB-IoT Market, By Offering
7 NB-IoT Market, By Deployment Type
8 NB-IoT Market, By Device
9 NB-IoT Market, By End-Use Application
10 Geographical Analysis ica
11 Competitive Landscape
12 Company Profiles
For more information on this topic, check out the Internet of Things and M2M section of the Research and Markets' blog.
For more information about this report visit http://www.researchandmarkets.com/research/96pcts/narrowband_iot
Research and Markets
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