Narrowband IoT (NB-IoT) Market Size, Share & Trends Analysis Report By Type, By Application, By Region, And Segment Forecasts, 2021 - 2027

 

Asset tracking is expected to be the fastest-growing market in the NB-IoT smart application market as wireless asset tracking, sensing, and control of products would provide around-the-clock visibility concerning the whereabouts and state of assets in the supply chain.

 

 

The COVID-19 pandemic is impacting global supply chains and logistics as lockdowns have been imposed geographically. Because of COVID-19, most countries have stopped all imports due to the fear of further spreading the virus. With a decline in the supply of connectivity hardware, the growth of the NB-IoT market is expected to be slightly slower than previously forecasted due to the pandemic.

 

In particular, developments in Artificial Intelligence (AI ), Machine Learning (ML), and Big Data Analytics will enable businesses to analyze the large amounts of data collected from tracking and monitoring activities using IoT networks. As such, it is also anticipated that the growing adoption of IoT and connected devices, as well as AI, ML, and Big Data analytics through industrial and commercial applications, will contribute to the growth of the NB-IoT market size.

 

 

The lack of consistent, cost-effective network pricing models and sufficient network coverage to sustain major widespread IoT deployments hampers market development. Although NB-IoT solutions' overall module and service costs have plummeted over the past two years in line with aggressive investments in research and development activities and module growth, prices remain a major concern for high-volume NB-IoT deployments. This, in turn, is expected to hinder the market growth during the forecast period.

Based on the region, North America is expected to hold the largest NB-IoT market share during the forecast period. Many leading system manufacturers and network service providers are based in North America, concentrating on the development and commercial delivery of consumer and industrial applications. Increasing disposable income, the growing tech-savvy population, and the continued adoption of new technologies for personal and business applications are some of the other major factors driving North America's demand.

The Asia Pacific region is projected to witness the highest growth rate during the forecast period. This rapid growth is attributed to increasing internet penetration, continued high-speed Internet infrastructure network deployment, an increasing number of smart city initiatives, and the rates of disposable income, particularly in economies like China, India, and Japan.

 

Narrowband IoT (NB-IoT) market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Narrowband IoT (NB-IoT) market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027. 

Narrowband IoT (NB-IoT) Market by Type

• Professional Services
• Management Services

Narrowband IoT (NB-IoT) Market by Application

• Agricultural
• Logistics
• Health Care
• Industrial Production
• Energy, Utilities
• Retail
• Other

Narrowband IoT (NB-IoT) Market by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Nordic
• Rest of Europe
• Asia-Pacific
• China
• Japan
• South Korea
• Southeast Asia
• India
• Australia
• Rest of Asia
• Latin America
• Mexico
• Brazil
• Rest of Latin America
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE
• Rest of MEA

Major Players in the Narrowband IoT (NB-IoT) Market

• Vodafone
• China Unicom
• China Telecom
• AT&T
• Etisalat
• Telstra
• Orange
• Telefonica
• SK Telecom
• Deutsche Telekom

Scope of the Narrowband IoT Market Report