The Europe Narrowband IoT (NB-IoT) Chipset Market would witness market growth of 50.7% CAGR during the forecast period (2022-2028).
There are currently countless uses for the Internet of Things. Their diversity frequently necessitates a network selection that is also diverse. For instance, LTE or the 5G wireless communications standard performs well for important machine-to-machine (M2M) connectivity, such as remote device operation. LAN or WiFi connections are sufficient for short-range networks, like computer networks and connecting smart home devices.
NB-IoT, a relatively new but rapidly expanding radio technology standard created specifically for Internet of Things applications, is designed to address use cases that call for transferring just modest amounts of data over large distances. As a result, it is anticipated to drive the growth of IoT connections, particularly in locations where factors, such as high connection density, long battery life, low cost, and improved interior coverage are crucial.
As a member of the LPWAN family of low-power wide-area networks, NB-IoT enables the connection of gadgets with modest data requirements, low bandwidth, and extended battery life. This makes it appropriate for a range of IoT use cases and applications.
Germany is renowned around the world for its strong engineering and automotive sectors. German automobiles represent the highly appreciated characteristics of innovation, dependability, safety, and design. Germany is by far Europe's largest market for production and sales. The nation's top-notch R&D infrastructure, full industry value chain integration, as well as highly skilled workforce, produce an unrivaled automotive environment on a global scale. It enables businesses to create cutting-edge solutions that properly meet the mobility needs of the future.
The Germany market dominated the Europe Narrowband IoT (NB-IoT) Chipset Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $502.5 million by 2028. The UK market is estimated to grow at a CAGR of 49.4% during (2022 - 2028). Additionally, The France market would experience a CAGR of 51.8% during (2022 - 2028).
Based on Application, the market is segmented into Alarms & Detectors, Smart Meters, Trackers, Wearable Devices, Smart Parking, and Others. Based on Deployment, the market is segmented into Guard, In-band, and Stand-alone. Based on Offering, the market is segmented into Hardware (Processor, Memory, and Power Management Unit) and Software. Based on Vertical, the market is segmented into Infrastructure, Energy & Utilities, Automotive & Transportation, Agriculture, Healthcare & Dental, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Narrowband IoT (NB-IoT) Chipset Market will Hit $7.7 Billion by 2028, at a CAGR of 51.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsung Electronics Co., Ltd., Intel Corporation, U-blox Holding AG, Sequans Communications S.A., Huawei Technologies Co. Ltd., Qualcomm, Inc., Nordic Semiconductor ASA, MediaTek, Inc., Sercomm Corporation and Sanechips Technology Co., Ltd
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