Meticulous Research®, a leading global market research company, published a research report titled “NB-IoT Chipset Market By Deployment (In-Band, Guard Band, Standalone), By Vertical (Agriculture, Logistics & Transportation, Healthcare, Smart Building), By Application (Smart Agriculture, Personal Care, Smart Building), and Geography – Global Forecast To 2027.”
According to this latest publication from Meticulous Research, the NB-IoT chipsets market is projected to reach a value of $3.06 billion by 2027, growing at a CAGR of 30.8% during the forecast period. The growing demand for wearable devices for health monitoring, rapid adoption of IoT and connected devices, and increasing machine-to-machine communication are the major factors driving the growth of this market. However, other LPWA technologies, such as LoRa and Sigfox with a better bidirectional link and asset tracking capability and vulnerability to cybersecurity threats, are expected to restrict this market's growth.
The NB-IoT chipsets market study presents historical market data in terms of value (2019), estimated current data (2020), and forecasts for 2027. The market is segmented based on deployment (in-band, guard band, and standalone), vertical (agriculture, logistics & transportation, energy & utilities, healthcare, security & surveillance, public infrastructure, smart building, manufacturing, retail, and others), and application (smart agriculture, smart cities, smart building, smart logistics, industrial automation, personal care, smart retail, and others). The study also evaluates industry competitors and analyses the market at the country-level.
Based on deployment, the NB-IoT chipsets market is segmented into in-band, guard band, and standalone. In 2020, the in-band segment is expected to command the largest share of the overall NB-IoT chipsets market. The large share of this segment is attributed to its advantages such as cost-effectiveness, allows reuse of existing LTE base station hardware, and widely adopted deployment mode by leading MNOs such as Vodafone, Deutsche Telekom, and Telecom Italia Mobile.
Based on vertical, the NB-IoT chipsets market is segmented into agriculture, logistics & transportation, energy & utilities, healthcare, security & surveillance, public infrastructure, smart building, manufacturing, retail, and others. In 2020, the agriculture segment is projected to command the largest share of the overall NB-IoT chipsets market. The large share of this segment is mainly because the NB-IoT connections can help farmers, land managers, and environmental agencies to track and monitor livestock and wild animals, monitor soil conditions, temperature and humidity, and determining the requirement of fertilizers and pest control treatment and activate irrigation systems.
Based on application, the NB-IoT chipsets market is segmented into smart agriculture, smart cities, smart building, smart logistics, industrial automation, personal care, smart retail, and others. In 2020, the smart agriculture segment is expected to command the largest share of the market. It is primarily attributed to its ability to remotely monitor and locate livestock for effective management, smart monitoring of plantations for maintaining the right humidity, temperature and luminosity of various plants, maintaining the right moisture levels automatically when the soil gets dry, and low price of modems suitable for agricultural application.
This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (France, Germany, Spain, Italy, U.K., and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of APAC), Latin America (Brazil Mexico, and Rest of LATAM), and the Middle East & Africa. In 2020, Asia-Pacific is expected to account for the largest share of the NB-IoT chipsets market, followed by Europe and North America. The large share of the APAC region is mainly attributed to the high volume of NB-IoT chipset shipments from China, higher adoption & proliferation of technology, and increasing efforts by players such as SoftBank of Japan, Reliance Jio, Vodafone, and Bharti Airtel of India to roll out NB-IoT deployment.
The key players operating in the NB-IoT chipsets market are Qualcomm Inc. (U.S.), MediaTek Inc. (Taiwan), Intel Corporation (U.S.), Samsung Electronics Co. Ltd. (South Korea), ZTE Corporation (China), Huawei Technologies Co. Ltd. (China), Nordic Semiconductor (Norway), U-Blox Holding AG (Switzerland), Sequans communications (France), GCT Semiconductor (U.S.), Altair Semiconductor (Israel), Sierra Wireless (Canada), Xiamen Cheerzing IoT Technology CO. Ltd. (China), and Simcom Wireless Solution Co. Ltd. (China).
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