The hardware components that are necessary for building an IoT network and a Low-Power Wide-Area Network (LPWAN) are called Narrowband IoT (NB-IoT) chipsets. These help improve the power consumption, spectrum efficiency, and system capacity of user devices. Battery life of these devices is expected to be more than ten years. Initial costs of NB-IOT chipsets is similar to GSM and GPRS. Its cost is expected to decrease as demand increases. NB-IoT is compatible with all networks (2G, 3G, 4G), mobile devices, chipsets, and others. Moreover, it provides added benefits like privacy and security in authentication, confidentiality, identification, and others of mobile networks. Innovations in IoT industry paves way for Narrowband iot (NB-IoT) chipset market growth.
MARKET SCOPE
The "Global NB-IoT Chipset Market Analysis to 2028" is a specialized and in-depth study of the technology, media and telecommunication industry with a special focus on the global market trend analysis. The report aims to provide an overview of the NB-IoT chipset market with detailed market segmentation by component, device, application and geography. The report provides key statistics on the market status of the leading NB-IoT chipset market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on component, the global NB-IoT chipset market is segmented into hardware, software, services
- On the basis of device, the market is segmented into smart appliances, smart meters, trackers, alarms and detectors, wearable devices, others
- Based on application, the market is bifurcated into agriculture, automotive and transportation, energy, healthcare, manufacturing, retail, safety and security, infrastructure, others
MARKET DYNAMICS
Drivers:
- Growing adoption of IoT and rise in use of connected devices
- Rising demand for low-power, low-cost, and long-range connectivity technologies.
- Increasing participation of industry players in development of NB-IoT.
Restraints
- Stiff competition from other LPWA technologies
- Privacy and security concerns
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The NB-IoT chipset market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the NB-IoT chipset market in these regions.
IMPACT OF COVID-19 ON NB-IOT CHIPSET MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the NB-IoT chipset market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from NB-IoT chipset market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the NB-IoT chipset market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Ericsson
- Huawei Technologies Co. Ltd.
- Intel Corporation
- Mistbase Communication System
- Nokia Corporation
- Qualcomm Incorporated
- Samsung Electronics
- Sequans Communications S.A.
- Verizon Communications
- Vodafone Group PLC
The Insight Partner?s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.