The global narrowband-Iot (NB-IoT) market size is expected to
reach USD 6,020.2 million by 2025, registering a CAGR of 34.9% from 2019 to
2025, according to a new study conducted by Grand View Research, Inc. The
growing demand for deployment of innovative technologies to track and monitor
assets and people accurately in line with the smart city initiatives being
pursued aggressively all around the world is expected to drive the growth of
the market. Other factors, such as low power consumption, lower component
costs, and wider coverage, are also expected to contribute toward the growth of
the market.
Narrowband-IoT, which is also known as LTE Cat
NB1, happens to be a Low Power Wide Area (LPWA) network technology standard
used to connect a wide range of smart sensors and devices using a wireless
cellular network. NB-IoT devices operate in the licensed spectrum and ensure
secure and reliable connectivity to end users.
Incumbents of the automotive industry are
responding to the passengers’ safety concerns by adopting emerging technologies
that can potentially offer safer, convenient, and efficient transportation. As
such, the use of Narrowband-IoT in the automotive industry is growing rapidly
owing to the capability of NB-IoT to accurately track vehicles, identify and
avoid highway congestions, and subsequently contribute toward effective traffic
management. The looming commercialization of the upcoming connected and autonomous
vehicles is also expected to play a key role in driving the growth of the
NB-IoT market over the forecast period.
Energy and utility companies are widely
adopting the NB-IoT technology for smart meters to remotely monitor the usage
of power, water, and gas in residential and commercial buildings, and to obtain
the usage data for issuing monthly bills. The usage data also helps energy and
utility companies in tracking the consumption and formulating energy-saving
strategies accordingly.
For full research report on
Narrowband-IoT Market visit here: https://www.grandviewresearch.com/industry-analysis/narrowband-nb-iot-market
Further key
findings from the study suggest:
- The module segment is anticipated to emerge as
the fastest-growing segment over the forecast period owing to the
increasing number of IoT applications and declining manufacturing costs of
NB-IoT modules
- The tracker segment is anticipated to gain
traction over the forecast period owing to the growing use of trackers for
tracking and monitoring production processes and assets, particularly
those which are difficult to monitor manually
- The wearables segment is expected to witness
the fastest growth over the forecast period due to the increasing demand
for wearables such as fitness wristbands to monitor exercise activities
and health monitoring devices to monitor the health status, as well as
other dedicated wearables to track children and elderly people for safety
purposes
- Asia Pacific is expected to register the
highest CAGR from 2019 to 2025 owing to the rapidly growing demand for
wearables and smartphones in line with the continued urbanization and
various smart city initiatives being undertaken
- Key players operating in the NB-IoT market
include AT&T; Huawei Technologies Co., Ltd.; Qualcomm Technologies,
Inc.; Cellco Partnership (Verizon Wireless); MediaTek Inc.; T-Mobile US,
Inc.; Intel Corporation; Nokia; Vodafone Group PLC; Sequans;
Telefonaktiebolaget LM Ericsson; and Altair Semiconductor.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/narrowband-nb-iot-market/request/rs1
Grand
View Research has segmented the global NB-IoT market based on component,
deployment, device type, end use, and region:
NB-IoT
Component Outlook (Revenue, USD Million, 2018 - 2025)
- Network
- Module
NB-IoT
Deployment Outlook (Revenue, USD Million, 2018 - 2025)
- In-band
- Guard-band
- Standalone
NB-IoT Device
Type Outlook (Revenue, USD Million, 2018 - 2025)
- Alarm & Detector
- Smart Parking
- Smart Meter
- Smart Lighting
- Tracker
- Wearables
- Others
NB-IoT End
Use Outlook (Revenue, USD Million, 2018 - 2025)
- Automotive
- Agriculture
- Infrastructure
- Healthcare
- Energy &
Utilities
- Manufacturing
- Consumer Electronics
- Others
NB-IoT
Regional Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East &
Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
No comments:
Post a Comment