A study conducted by Vision Research Reports claims the narrowband IoT chipset market is expected to grow from $16.7 Million in 2017 to $200 Million by 2025, at a CAGR of 65%. Factors driving the market are increasing adoption of IoT and growth in network-enabled devices, demand for long-range connectivity, and growing need for low-power and low-cost connectivity technology.
- Emerging NB-IoT technology is expected to deliver an affordable and power-efficient way to connect battery-operated devices to Internet.
- The market for software is expected to hold the largest market in 2017.
- The usage of safety alarms and detectors is increasing across several end-use applications, such as building automation, healthcare devices, smart infrastructure, automotive, and so on.
- The healthcare segment is expected to witness major growth opportunities in the narrowband IoT chipset market.
- The US holds the largest share in the narrowband IoT chipset market owing to the presence of major players operating in the industry.
- Asia Pacific is expected to witness high growth opportunities in the narrowband IoT chipset market due to the increasing investments in smart city and infrastructure development projects. Japan and China are heavily investing and adopting these technologies owing to the growth of IoT device manufacturing companies.
- Main players in the narrowband IoT chipset market are Vodafone Group PLC, Verizon Communications, Huawei Technologies Co., Ltd., Qualcomm, Inc., Ericsson, Intel Corporation, Nokia Corporation, Samsung Electronics, STMicroelectronics, China Telecommunication Corporation, and Deutsche Telecom AG.
For more details, request a sample of the “Global Narrowband Internet-of-Things (IoT) Chipset Market Insights, Forecast to 2025” report.