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2021
Narrowband Iot (nb-iot) Chipset Market

Narrowband IoT (NB-IoT) Chipset Market

by Component (Hardware (Processor, Memory, and Power Management Unit), and Software), Deployment (Guard, In-band, and Standalone), Application (Smart Meters, Smart Parking, Trackers, Alarms & Detectors, Wearable Devices, and Other Devices), and Industry Vertical (Agriculture, Automotive & Transportation, Energy & Utilities, Healthcare, Infrastructure, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

Report Code: A09846
Pages: 358
Jul 2021 | 4298 Views
Author(s) : Ruchal H , Vineet K
Tables: 170
Charts: 91
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The global narrowband IoT (NB-IoT) chipset market size was valued at $425.0 million in 2020, and is projected to reach $22,105.6 million by 2030, registering a CAGR of 52.1% from 2021 to 2030. 

The infrastructure segment has been adversely impacted by the emergence of COVID-19 pandemic.

Narrowband IoT (NB-IoT) chipset is a small electronic device embedded in objects, machines, and electronic devices. The narrowband IoT (NB-IoT) chipset market growth is gaining momentum, owing to multiple benefits associated with the technology such as low power consumption of user devices, high system capacity, and enhanced spectrum efficiency for deep coverage of an area. Currently, costs of NB-IoT chipset are as similar to Global Systems for Mobile (GSM) and General Packet Radio Service (GPRS). However, these are expected to reduce significantly with growing demand.

Narrowband-IoT-(NB-IoT)-Chipset-Market-2021-2030

The narrowband IoT (NB-IoT) chipset market is witnessing significant investment in developing the technology. Many telecommunication companies are supporting the technology, and thus are developing NB-IoT networks. These networks significant boost the demand for chipsets, which, in turn, augments the growth of the global market. Furthermore, chipset manufacturers are introducing new products in the market that are highly efficient to integrate in the IoT devices.

Rise in adoption of IoT devices and increase in internet penetration is the prime factors that drive growth of the narrowband IoT (NB-IoT) chipset industry. Furthermore, surge in cellular IoT networks to cover the whole population accelerates the market growth rapidly. Moreover, it has better penetration in structures and better data rates compared to unlicensed band based standards such as LoRaWAN and Sigfox, which is opportunistic for the market growth. Considering these factors, the narrowband IoT (NB-IoT) chipset market is anticipated to experience steep growth in the future.

Increase in trend of smart cities to facilitate sustainable development globally is expected to offer lucrative opportunity for the expansion of the global narrowband IoT (NB-IoT) chipset market growth during the forecast period. However, availability of alternative low power wide area (LPWA) technologies such as long-term evolution machine type communication (LTE-M) acts a major restraint of the market. In addition, NB-IoT is used for low-speed applications only, which limits its usage for various high-speed applications such as video surveillance, thus hampering the market growth.

The COVID-19 pandemic has severely impacted the global supply chains, owing to partial or complete lockdown imposed by various countries. Furthermore, majority of countries halted the international trade with the fear of spreading the virus. Consequently, substantial decline was witnessed in the supply of connectivity hardware. This resulted in decreased growth of the narrowband IoT chipset industry globally. 

The narrowband IoT (NB-IoT) chipset market share is segmented into component, deployment, application, industry vertical, and region. 

Narrowband IoT (NB-IoT) Chipset Market
By Deployment

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In-band segment is projected as one of the most lucrative segments.

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On the basis of component, the market is bifurcated into hardware, and software. The hardware is subsegmented into processor, memory, and power management unit. The hardware segment dominated the market, in terms of revenue in 2020, and is expected to follow the same trend during the forecast period. On the basis of deployment, the market is segregated into guard, in-band, and standalone. The guard segment exhibited the highest growth, in terms of revenue in 2020, and is anticipated to garner significant share during the forecast period. The applications covered in the study include smart meters, smart parking, trackers, alarms & detectors, wearable devices, and other devices. The market share for the alarms & detectors segment was the highest in 2020, and the segment is expected to grow at a high CAGR from 2021 to 2030. By industry vertical, the market is divided into agriculture, automotive & transportation, energy & utilities, healthcare, infrastructure, and others. The market share for the infrastructure segment was highest in 2020.

Region wise, the narrowband IoT (NB-IoT) chipset market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). The Asia-Pacific narrowband IoT (NB-IoT) chipset market size is expected to grow at the highest rate during the forecast period. 

Narrowband IoT (NB-IoT) Chipset Market
By Industry Vertical

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Infrastructure segment is expected to secure leading position during forecast period.

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Top Impacting Factors

Significant factors that impact growth of the narrowband IoT (NB-IoT) chipset market share include rise in adoption of IoT devices and surge in penetration of cellular IoT networks. However, availability of alternatives such as low power wide area (LPWA) technologies hampers the market growth. Moreover, NB-IoT is can be used only for low-speed applications, which limits the market growth. On the contrary, increase in trend of smart cities is expected to offer lucrative opportunities for the narrowband IoT (NB-IoT) chipset market during the forecast period.

Competition Analysis

Competitive analysis and profiles of the major narrowband IoT (NB-IoT) chipset market players, such as Huawei Technologies Co. Ltd. (China), Qualcomm Incorporated (U.S.), Intel Corporation (U.S.), Nordic Semiconductor (Norway), Sanechips Co. Ltd. (China), Samsung Group (South Korea), MediaTek Inc. (Taiwan), Sercomm Corporation (Taiwan), u-blox Holding AG (Switzerland), and Sequans Communications S.A.(France) are provided in this report. 

Narrowband IoT (NB-IoT) Chipset Market
By Region

2030
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific would exhibit the highest CAGR of 53.7% during 2021-2030

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Key Benefits For Stakeholders

  • This study comprises analytical depiction of the narrowband IoT (NB-IoT) chipset market size along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall narrowband IoT (NB-IoT) chipset market analysis is determined to understand the profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
  • The current NB-IoT chipset market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the market.
  • The report includes the narrowband IoT (NB-IoT) chipset market share of key vendors and market trends.

Key Market Segments

By Offering

  • Hardware
  • Processor 
  • Memory
  • Power Management Unit
  • Software

By Deployment

  • Guard
  • In-band
  • Standalone

By Application

  • Smart Meters
  • Smart Parking
  • Trackers
  • Alarms & Detectors
  • Wearable Devices
  • Other Devices

By Industry Vertical

  • Agriculture
  • Automotive & Transportation
  • Energy & Utilities
  • Healthcare
  • Infrastructure
  • Others

Key Players

  • Huawei Technologies Co. Ltd. (China)
  • Qualcomm Incorporated (U.S.)
  • Intel Corporation (U.S.)
  • Nordic Semiconductor (Norway)
  • Sanechips Co. Ltd. (China)
  • Samsung Group (South Korea)
  • MediaTek Inc. (Taiwan)
  • Sercomm Corporation (Taiwan)
  • u-blox Holding AG (Switzerland)
  • Sequans Communications S.A.(France)
 

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Market players have keenly focused on developing NB-IoT chipset in the past few years. Approximately 13 different companies introduced various NB-IoT chipsets in the market. Hence, considerable investment in R&D of chipsets is required for standardization process, infrastructure development, and initial market trials. Furthermore, the market witnessed several mergers and acquisition by the leading players such as Huawei, Sony Corporation, and Nordic Semiconductor.

Moreover, government mandates and policy decisions for enhanced communication infrastructure are expected to boost the NB-IoT chipset market growth during the forecast period. These new policies are anticipated to enhance the demand for smart street lightings, smart meters, and smart parking. As NB-IoT devices function on existing networks, they simplify the implementation and usage of NB-IoT technology for mass population. 

The key players profiled in the report include Huawei Technologies Co. Ltd. (China), Qualcomm Incorporated (U.S.), Intel Corporation (U.S.), Nordic Semiconductor (Norway), Sanechips Co. Ltd. (China), Samsung Group (South Korea), MediaTek Inc. (Taiwan), Sercomm Corporation (Taiwan), u-blox Holding AG (Switzerland), and Sequans Communications S.A.(France).

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