Global Narrowband IOT Market – Size, Outlook, Trends and Forecast (2024 – 2032)

Narrowband IOT is a standard Low Power Wide Area Network (LPWAN) radio technology enabling a wide range of cellular devices and services developed by 3GPP. Global narrowband IOT market size was valued at $16.7 million in 2017 and is estimated to reach $761.81 million by 2025 with the CAGR of 61.21% during 2019-2025. The major factors driving the growth of narrow band IOT market are high adoption rate of IOT applications, increasing demand for LPWAN, availability in low cost as well as consumes les power, emerging offers with deeper coverage & higher security from NB-IOT, the life span for long duration cycle and emerging NB-IOT with standardized & licensed. Apart from drivers, few restraints such as competition from alternative LPWAN, data security, privacy issue, the transmission speed is high for low data, a breakdown in development of IOT & interpretability issue and the chain of an eco system including module, application platform & device are hampering the market growth. To overcome the restraints, emerging of accepting new technology, management of intelligent network bandwidth, rapidly rising smart cities & technology and increasing LPWAN devices will fuel the growth over the forecast period 2019-2025.

Research Study Objectives:

• Define, estimate, and forecast the narrowband IOT market statistics by component, device, service, deployment type, end users and regions concerning the individual growth drivers, market trends and their contribution toward the narrowband IOT market growth
• Provides comprehensive information regarding the key factors influencing the market growth (Drivers, Restraints & Challenges, and Opportunities)
• Estimate & forecast the market size of all the segments concerning geographies including North America, Europe, Asia Pacific (APAC), South America and the Middle East and Africa (MEA).
• Recent competitive developments including M&A (mergers and acquisitions), partnerships, and product innovations are provided in the narrowband IOT market analysis report.
• Analysis and conclusions on the future narrowband IOT market outlook.

Top-down and bottom-up approaches are used to validate the narrowband IOT market size and are used to estimate the size of other dependent submarkets. Key players in the market are identified through various secondary sources; databases including Bloomberg Businessweek, Hoovers, Factiva, journals and associations and the market revenues are estimated and are thoroughly validated through primary and secondary research. Secondary research involves the study of annual and financial reports of top players in the market, whereas primary research includes extensive interviews with the KoL’s such as CEOs, directors, board members, VP’s, sales managers, engineers, marketing executives, technicians, account managers, investors, strategic decision makers and others. The narrowband IOT market shares and breakdowns are determined using secondary sources and are verified by the primary sources. All possible parameters/factors that are affecting the narrowband IOT market demand are covered in the research study are verified through primary research, analysed and interpreted to get the final qualitative and quantitative data. This data is collected and added with detailed analysis from Envision Inteligence and presented in this report.

The scope of the Report

The narrowband IOT market segmentation is as follows:

By Component

• Hardware
  • Module
  • Others

By Device

• Aetelarms & Dctors
• Smart Appliances
• Smart Meters
• Trackers
• Wearable Devices
• Other

By Deployment Type

• Guard Band
• In – Band
• Standalone

By End Users

• Healthcare
• Automotive & Transportation
• Building Automation
• Energy
• Agriculture
• Infrastructure
• Manufacturing
• Retail
• Safety & Security
• Others

Geographical Analysis:

Narrowband IOT market is segmented by geography into North America, South America, Europe, Asia Pacific and Middle East & Africa. U.S., Canada, Mexico and Costa Rica are analysed under North American region which is usually turning as the hotspot in the market. The South American region is further segregated into Brazil, Argentina, Chile, Columbia and some other emerging economies. In Europe, the market is extensively examined by covering U.K., Germany, France, Italy, Spain, Netherlands, Poland, Switzerland and some other promising economies. The Asia Pacific is further categorised by countries into China, India, Japan, South Korea, Australia & New Zealand, Malaysia, Singapore and many other emerging nations. In the Middle East & African region, Saudi Arabia, UAE, Iran, Iraq, Qatar, South Africa, Algeria, Morocco, Nigeria and so on countries are evaluated to understand the market growth lucidly.

Customization Options:

With the given research report, Envision Inteligence offers customisations as per the client’s specific requirements. The following customisation options offered for the narrowband IOT market include:

• Scope Revision
• Geographic Analysis
• Company Profiles
• Historical Data & Forecasting
• Key Contact Persons in companies

Global Narrowband IOT Market Research Report Includes:

• An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
• To have a complete market analysis through industry value chain analysis, Porter’s Five Force Model, PESTLE, SWOT analysis, and Y-o-Y analysis.
• Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
• Identifying DROC in the current market and their impact on altering market dynamics.
• Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial study with significant competitors.
• Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
• Identify the latest developments, market shares and strategies that are employed by the significant narrowband IOT market players, such as
  • AT & T Inc.
  • Telefonaktiebolaget L. M. Ericsson
  • Huawei Technologies Co. Ltd.
  • Intel Corporation
  • Microsoft Corporation

Along with these companies, many other companies are considered in the report while analysing the global narrowband IOT market competitive strategies and environment. These companies held substantial share-owning to the nature of the industry whereas, the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players also have considerable presence owing to its robust brand image, geographical reach and stable customer base.