Narrowband IoT (NB-IoT) Chipset Market Size to Reach $22.10 Billion by 2030
PORTLAND, OREGON, UNITED STATES, August 30, 2021 /EINPresswire.com/ — Increase in adoption of IoT devices and surge in penetration of cellular IoT networks drive the growth of the global narrowband IoT (NB-IoT) chipset market. Asia-Pacific held the highest share in 2020, accounting for nearly two-fifths of the total market share, and is expected to continue its lead position in terms of revenue by 2030. Production activities of NB-IoT chipset stopped due to lockdown implemented across many countries.
According to the report published by Allied Market Research, titled, “Narrowband IoT (NB-IoT) Chipset Market by Component (Hardware (Processor, Memory, and Power Management Unit), and Software), Deployment (Guard, In-band, and Standalone), Application (Smart Meters, Smart Parking, Trackers, Alarms & Detectors, Wearable Devices, and Other Devices), and Industry Vertical (Agriculture, Automotive & Transportation, Energy & Utilities, Healthcare, Infrastructure, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global narrowband IoT (NB-IoT) chipset market garnered $425.0 million in 2020, and is estimated to reach $22.10 billion by 2030, witnessing a CAGR of 52.1% from 2021 to 2030. The report offers an extensive analysis of key investment pockets, changing market trends, value chain, key segments, regional scenarios, and competitive landscape.
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Key Benefits For Stakeholders
This study comprises analytical depiction of the narrowband IoT (NB-IoT) chipset market size along with the current trends and future estimations to depict the imminent investment pockets.
The overall narrowband IoT (NB-IoT) chipset market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current NB-IoT chipset market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the market.
The report includes the narrowband IoT (NB-IoT) chipset market share of key vendors and market trends.
The report offers detailed segmentation of the global narrowband IoT (NB-IoT) chipset market based on component, deployment, application, industry vertical, and region.
Based on component, the hardware segment accounted for the highest share in 2020, holding nearly more than four-fifths of the total market share, and is estimated to maintain its dominant share during the forecast period. However, the software segment is expected to portray the highest CAGR of 54.8% from 2021 to 2030.
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Based on application, the alarms and detectors segment contributed to the largest share in 2020, accounting for more than one-fourth of the global narrowband IoT (NB-IoT) chipset market, and is projected to maintain its leadership status throughout the forecast period. However, the wearable devices segment is expected to register the fastest CAGR of 54.8% from 2021 to 2030.
Based on region, Asia-Pacific held the highest share in 2020, accounting for nearly two-fifths of the total market share, and is expected to continue its lead position in terms of revenue by 2030. Moreover, this region is projected to witness the largest CAGR of 53.7% during the forecast period. The research also discusses regions including North America, Europe, and LAMEA.
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Leading players of the global narrowband IoT (NB-IoT) chipset market analyzed in the research include Huawei Technologies Co. Ltd. (China), Intel Corporation (U.S.), Qualcomm Incorporated (U.S.), Sanechips Co. Ltd. (China), Nordic Semiconductor (Norway), MediaTek Inc. (Taiwan), Samsung Group (South Korea), u-blox Holding AG (Switzerland), Sercomm Corporation (Taiwan), and Sequans Communications S.A.(France).
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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