Narrowband-Internet of Things (NB-IoT) Technology Market Share

Geographically, the narrowband IoT market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region, out of which The North America industry is set to account for largest revenue share by 2036, as several leading device manufacturers and network service providers are focusing on testing and commercial deployment of solutions for consumer and industrial applications. Increasing disposable income, growing tech-savvy population, and continued adoption of emerging technologies for personal and business applications are some of the other major factors driving the growth of the North American regional market.

Moreover, the Asia Pacific regional narrowband IoT market is projected to emerge as the fastest-growing regional market owing to the increasing internet penetration, the continued rollout of high-speed internet infrastructure network, rising number of smart city initiatives, and larger customer base, thus providing abundant business opportunities to the players.

Frequently Asked Questions (FAQ)

Increasing adoption of emerging communication technologies, Low network infrastructure and spectrum costs and Growing demand for low power wide area network (LPWAN) use cases across verticals are the key factors driving market growth.

The market is anticipated to attain a high CAGR over the forecast period, i.e., 2021-2029.

Deployment issues and less roaming support and Uncertainty in pricing model are estimated to hamper market growth.

The market in Asia Pacific regional market is projected to emerge as the fastest-growing regional market owing to the increasing internet penetration, the continued rollout of high-speed internet infrastructure network, rising number of smart city initiatives, and larger customer base.

The major players dominating the narrowband-internet of things (NB-IOT) technology market are Qualcomm Technologies, Inc., Huawei Technologies Co., Ltd., Intel Corporation, MediaTek Inc., Telefonaktiebolaget LM Ericsson, Vodafone Group plc, AT&T Inc. among others.

Narrowband-Internet of Things (NB-IoT) Technology Market Share