Narrowband IoT (NB-IoT) Chipset Market by Device, Deployment Type | COVID-19 Impact Analysis | MarketsandMarkets

1. Narrowband IoT (NB-IoT) Chipset Market by Device, Deployment Type | COVID-19 Impact Analysis The NB-IoT chipset market is expected to grow from USD 461 million by 2020 to USD 2,484 million by 2025 at a CAGR of 40.0%. Widening applications of NB-IoT technology and increasing participation of industry players in the development of NB-IoT, growing adoption of IoT and rise in use of connected devices are among the factors fueling the growth of the NB-IoT chipset market. In addition, increasing demand for wearable devices due to COVID-19 outbreak is further supplementing the growth of the NB-IoT chipset market. Driver: Growing adoption of IoT and rise in use of connected devices Increasing M2M communications is driving the growth of the connected devices market, especially in the industrial sector. Additionally, industry trends such as IoT have facilitated connectivity in almost every industry, including healthcare, consumer electronics, and retail. Smart devices require sensors to generate real-time data. The declined price of these sensors has led to a significant increase in the adoption of IoT across organizations. Moreover, the key reasons for the increased adoption of NB-IoT include smooth communications through better connectivity, low power requirements, and a growing preference for a smarter and greener planet. The rising demand for connected devices for long-range connectivity is expected to drive the deployment of M2M/IoT devices, such as smart meters, smart streetlights, livestock monitoring devices, and smart parking solutions. Restraint: Stiff competition from other LPWA technologies With the growing number of connected devices, the demand for LPWA networking technologies is growing. From smart homes to high-end laboratories and industries, LPWA networks are deployed using low-cost and low-power smart wireless sensors and are providing new opportunities for the implementation of IoT in various applications. Thus, the LPWA technologies having similar capabilities as NB-IoT are creating huge limiting the growth of the NB- IoT chipset market. Opportunity: Emerging smart cities and smart buildings Smart cities are pivotal to adding digital intelligence to existing urban systems and connected applications as they provide real-time, transparent information in the form of actionable insights to users. Energy and resource, physical infrastructure, mobility and transport, and safety and security are the major functional areas of more than 1,000 smart city projects that are currently under progress across the world. These projects present prominent growth opportunities for the NB-IoT players to expand their market. Challenge: Limited to low-speed data transmission applications NB-IoT devices have low data transfer rates, which limits its cellular capabilities in various applications such as video surveillance and voice communication that required high-bandwidth. It is not suited to mobile devices, which use GSM, 3G, and LTE for voice, messaging, high-rate data transmission, and so on. However, emerging technologies such as LTE-M have higher data rates, and this allows them to offer the broadest range of cellular capabilities. LTE-M has the largest bandwidth among all LPWA technologies, and is ideal for fixed and mobile applications. This can limit the adoption of NB-IoT in applications such as health or fitness wearables and smart meters, which require higher data transfer rates. However, the development of dual-mode chipsets offering CAT M1 and CAT NB1/NB2 is expected to decrease the impact of this challenge in the near term. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=59565925

2. The major companies in the NB-IoT chipset market are Huawei (China), Qualcomm (US), Samsung (South Korea), Nordic Semiconductor (Norway), Altair Semiconductor (Sony Group Company) (Israel), Cheerzing (China), Sercomm (Taiwan), SIMCom (China), Sequans Communications (France), Sierra Wireless (Canada), u-blox (Switzerland), ZTE (China), RDA (China), and MediaTek (Taiwan). The market has active participation of start-ups. A few emerging start-ups in the market are Riot Micro (Canada) and Commsolid (A Goodix Company) (Germany). About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model –GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: 1-888-600-6441