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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:
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:
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:
Questions answered in private narrowband IoT market research report:Â Â Â Â Â Â Â Â Â Â Â Â Â
Private Narrowband IoT Market Report Highlights
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Key Market Players | T-Mobile US, Inc., Altair Semiconductor, Telefonaktiebolaget LM Ericsson, Intel Corporation, Huawei Technologies Co., Ltd., MediaTek Inc., Sequans, Cellco Partnership (Verizon Wireless), Nokia, AT&T |
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