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

  • Report ID: 2925
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

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

Growth Drivers

  • Increasing Adoption of Emerging Communication Technologies
  • Low Network Infrastructure and Spectrum Costs
  • Growing Demand for Low Power Wide Area Network (LPWAN) Use Cases Across Verticals

Challenges

  • Deployment Issues and Less Roaming Support
  • Uncertainty in Pricing Model

Narrowband IoT Market: Key Insights

Base Year

2023

Forecast Year

2024–2036

CAGR

46.8%

Base Year Market Size (2023)

USD 7.86 billion

Forecast Year Market Size (2036)

USD 1.15 trillion

Regional Scope
  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Author Credits:  Abhishek Verma


  • Report ID: 2925
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

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.
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