NB-IoT Chipset Market to Expand at a Steady CAGR of 40.8% by 2028: Persistence Market Research
On the basis of device, the trackers segment is expected to witness growth in terms of value during the forecast period in the global NB-IoT chipset market. Based on the industry vertical, the infrastructure & building automation and automotive & transportation segments are estimated to hold a considerable share in 2018 in terms of market share in the global NB-IoT chipset market.
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The global annual revenue from NB-IoT chipsets was valued at US$ 4,832.1 Mn by the end of 2017, which is expected to grow at a significant pace over the coming years. With the progression of time, a declining y-o-y growth trend is expected in the latter half of the forecast period. The dominating regions, i.e., North America, China, SEA & Other of APAC, and Western Europe, are expected to collectively account for a majority share of the global NB-IoT chipset market. The North America NB-IoT chipset market, the APAC (including China and Japan) NB-IoT chipset market, and the Western Europe NB-IoT chipset market are likely to dominate the global NB-IoT chipset market over the forecast period
As NB-IoT technology enables a connected devices M2M environment across different regions even in the absence of efficient internet connectivity, a high demand for the same has been witnessed from end-users, especially across developing countries. This, as a result, is boosting the number of initiatives for the implementation of an NB-IoT networks and the adoption of NB-IoT chipsets in the ecosystem. Owing to the aforementioned factors, various initiatives have been undertaken by the governments of various developing regions/countries to enable an NB-IoT network with the help of NB-IoT chipsets and modules. Thus, the global NB-IoT chipsets market is expected to witness a significantly high CAGR during the forecast period. As NB-IoT is a sub-segment of cellular IoT, it is also expected to drive the cellular IoT market in terms of value. When segmented in terms of chipsets and modules, NB-IoT chipsets are expected to hold the maximum market share in the global cellular IoT market.
Since the inception of NB-IoT chipsets, high investments for the development of an infrastructure that enables the implementation of NB-IoT networks has been witnessed in the global market. Among all the applications, the maximum adoption of NB-IoT chipsets is witnessed for smart meters. Besides smart meters, a significant adoption of NB-IoT chipsets has been witnessed for security purposes, for enabling smart cities, and for smart parking systems. Various regions & countries, such as India and Western European countries, are investing heavily in agriculture, and have adopted NB-IoT chipsets for enabling smart irrigation systems.
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According to PMR analysis, due to the growth opportunities associated with the global NB-IoT chipsets market and the presence of moderate number of NB-IoT chipset manufacturers in the region, various semiconductor vendors are focusing on stepping into the global NB-IoT chipsets market in collaboration with various solutions and service providers. Examples of some of the market participants in the global NB-IoT chipset market report are Huawei Technologies Co., Ltd., Intel Corporation, Qualcomm Technologies Co., Ltd., u-Blox Holding AG, ARM Holdings AG, SEQUANS, Nordic Semiconductor, Altair Semiconductor, Sierra Wireless, and Quectel Wireless Solutions.
NB-IoT Chipset Market Key Segments Covered:
- Deployment Type
o Standalone
o In-Band
o Guard Band
- Device
o Smart Appliances
o Smart Meters
o Trackers
o Alarms & Detectors
o Wearable Devices
o Others
- Industry Vertical
o Agriculture
o Automotive & Transportation
o Energy
o Healthcare
o Manufacturing
o Retail
o Safety & Security
o Infrastructure & Building Automation
o Others
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The information presented in this review is based on a PMR report, titled "Nb Iot Chipse Market Segmented By Deployment Type – Standalone, In-Band, Guard Band; Device - Smart Appliances, Smart Meters, Trackers, Alarms & Detectors, Wearable Devices, Others; Industry Vertical – Agriculture, Automotive & Transportation, Energy, Healthcare, Manufacturing, Retail, Safety & Security, Infrastructure & Building Automation, Others- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028."
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