About Narrow Band IoT
Narrow Band IoT, also referred to LTE cat NB1 is a low power wide area network technology which enables to connect or join the wider network in a cellular network. These type of network is majorly suited for the application which has to deal with small data transfers. This technology operates in a secured frequency spectrum and also assures reliable connectivity and quality. Rapid development in the field of IoT industries is driving the market for narrowband IoT.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 36.6% |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Narrow Band IoT market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Huawei Technologies Co. Ltd. (China), Vodafone Group PLC (United Kingdom), Emirates Telecommunications Corporation (United Arab Emirates), Telecom Italia (Italy), Qualcomm Inc. (United States), China Unicom (China), Intel Corporation (United States), Ericsson (Sweden), Nokia Networks (Finland) and Verizon Communication (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are AT&T (United States), Telstra (Australia), Orange S.A. (France), Telefonica (Spain) and SK Telecom (South Korea).
Segmentation Overview
AMA Research has segmented the market of Global Narrow Band IoT market by Type (In-Band, Guard Band and Standalone), Application (IT, Manufacturing Agriculture, Healthcare, Automotive & Transportation and Others) and Region.
On the basis of geography, the market of Narrow Band IoT has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Hardware (Module and Others) will boost the Narrow Band IoT market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Application Software, the sub-segment i.e. Security Solutions will boost the Narrow Band IoT market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Device Type, the sub-segment i.e. Smart Metering will boost the Narrow Band IoT market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of LPWAN Use Cases across Verticals and High Trend Of Using Applications With NB-IoT
Market Growth Drivers:
Rising Demand of New Cellular Communication Technology which are Dedicated to IoT LPWA Applications and Increasing IT Sectors Coupled with High Flexibility with GSM
Challenges:
Deployment Issues and Less Roaming Support Regarding NB- IoT and Uncertainty in Pricing Model
Restraints:
Deployment, Front-End and Licensing Cost of These NB-IoT are High and Competition from Rival LPWAN Technologies
Opportunities:
Growing Demand for Navigation, Telematics and In-Car Infotainment Services in Automotive & Transportation Industry and Emergent of Smart Cities and Smart Buildings in Developing Nations
Market Leaders and their expansionary development strategies
In February 2019, AT&T and Vodafone Business Team Up to Drive Internet of Things (IoT) Connectivity in the Automotive Industry. These companies will bring together their superior expertise so that they can bring a solution for connected car solution
In June 2018, AT&T launched the narrowband Internet of Things (NB-IoT) to meet the growing needs of business customers for a wide range of IoT solutions. Their NB-IoT technology complements the existing LTE-M network in the United States & Mexico
Key Target Audience
Original equipment manufacturers (OEMs), Manufacturing Equipment suppliers, Cellular Service providers, Software & Content providers, IoT Service providers and Consumer Electronics
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.