Private Narrowband IoT Market Statistics: 2027
Private narrowband IoT is a low power wide area technology, which is developed to allow an extensive range of new IoT devices and services. The private narrowband IoT improves power consumption of user devices, system capacity, and spectrum efficiency. In recent years, mobile operators have been deploying network capabilities enabling narrowband-IoT coverage for their customers, which boosts the market growth. NB-IOT are deployed for a number of applications including smart metering (water, electricity and gas), intruder, and fire alarms for commercial properties, facility management services, tracking of people, animals, or objects. Private NB-IoT offers extended coverage and higher security over its substitutes, which fuels growth of the market.
COVID-19 scenario analysis:
- The demand for private narrow band IoT solutions is anticipated to decline in the COVID-19 period, owing to recent government regulations.
- However, once the situation gets better and economy gets back on track, it is expected that the demand for NB-IoT would grow during the forecast period.
- The healthcare segment is expected to witness demand for NB-IoT solutions as these are also deployed in personal appliances measuring health parameters.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis:
Growth in adoption of IoT, rise in use of connected devices, and surge in demand for low-power, low-cost, and long-range connectivity technologies are some of the major key factors that drive growth of the market. However, low speed data transmission applications and privacy & security concerns restrain growth of the market. Furthermore, rise in participation of industry players in development of NB-IoT and wide applications of NB-IoT technology are expected to provide lucrative opportunities for the market.
The market trends for private narrowband IOT market are as follows:
- Growing market in Asia-Pacific:
Asia-Pacific is expected to attain significant market growth during the forecasted period as countries such as India and China are taking smart city initiatives which creates demand for private narrow band-internet of things (NB-IoT). In addition, rise in internet use and increase in level of disposable income in developing nations of Asia-Pacific in recent years are anticipated to boost the market growth.
· Growth in commercial projects in developing economies:
Currently, telecom operators are investing in private NB-IoT projects and are running pilot projects in various regions/countries, which drives growth of the market. For instance, Bharti Airtel and Vodafone Idea have launched commercial narrow-band IoT (NB-IoT) services in India and have already started conducting commercial pilots in metro cities to expand this network to tap specific opportunities in smart cities along with other applications.
Key benefits of the report:
- This study presents analytical depiction of the global private narrowband IoT market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global private narrowband IoT market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis based on the present and future competitive intensity of the market.
Questions answered in private narrowband IoT market research report:
- Who are the leading market players active in the private narrowband IoT market?
- What would be the detailed impact of COVID-19 on the private narrowband IoT market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the private narrowband IoT market?
- What are the projections for the future that would help in taking further strategic steps?
Private Narrowband IoT Market Report Highlights
| Aspects | Details |
 By Component |
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 By Deployment Mode |
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 By Device Type |
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 By Industry Vertical |
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 By Region |
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 Key Market Players | Cellco Partnership (Verizon Wireless), Sequans, MediaTek Inc., Altair Semiconductor, Huawei Technologies Co., Ltd., AT&T, Nokia, Intel Corporation, T-Mobile US, Inc., Telefonaktiebolaget LM Ericsson |
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