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Narrowband Internet of Things (NB-IoT) is a low power wide area (LPWA) technology developed to enable a wide range of new IoT devices and services for consumers. NB-IoT significantly improves the power consumption of devices, system capacity, and spectrum efficiency, especially in deep coverage. Narrowband IoT is supported by all major mobile equipment, chipset, and module manufacturers. NB-IoT can co-exist with 2G, 3G, and 4G mobile networks. It further benefits and supports all the security and privacy features of mobile networks, such as support for user identity confidentiality, entity authentication, confidentiality, data integrity, and mobile equipment identification.Â
Impact of COVID-19 on Narrowband IoT (NB-IoT) Market:
Numerous factor such as due to rapid development in IoT industry and rising demand of new cellular communication technology which are integrated to IoT low power wide area applications drives the growth of the market globally. Â moreover, increasing demand for navigation, telematics and in-car infotainment services in automotive & transportation industry is fueling the market of NB-IoT globally. However, licensing costs of NB-IoT are hindering the growth of narrowband- IoT Market. Â Furthermore, rising need for connectivity in IoT applications and emerging investment in smart cities and smart buildings is an opportunistic factor for the NB-IoT market in the forecasted years. Organizations are adopting NB-IoT due to its advantages such as low power consumption, excellent penetration coverage, high deployment flexibility with GSM, WCDMA, or LTE and low component cost increasing the growth opportunity in narrowband IoT market
Low power wide area is specifically designed for connecting devices with using low power, low bandwidth requirements, while providing wider network coverage. Millions of devices are predicted to be connected via low power wide area. Networks in the next few years due to its benefits of extended coverage and long battery life in IoT integrated devices. Therefore, increasing the demand for NB-IoT market in the forecasted years.
Narrowband IoT (NB-IoT) leverages direct sequence speed spectrum modulation technology. NB-IoT is very flexible and can operate in 2G, 3G and 4G band width. It eliminates the need for a gateway, which saves cost in the long run. It is characterized by improved indoor coverage, low delay sensitivity, low device power consumption, support of a massive number of low throughput devices, optimized network architecture, and it is ultra-cost efficient. This factor will create opportunity in the NB IoT market.
Key benefits of the report:
Narrowband IoT (NB-IoT) Market Report Highlights
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Key Market Players | China Unicom, Telefonaktiebolaget LM Ericsson, Emirates Telecommunications Corporation, Nokia Networks, Telecom Italia SpA, Verizon Communications Inc., Qualcomm Incorporated, Intel Corporation, Huawei Technologies Co. Ltd., Vodafone Group PLC. |
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