According to a new report, published by KBV research, The Global Narrowband Internet of Things Market size is expected to reach $9.6 billion by 2028, rising at a market growth of 51.5% CAGR during the forecast period.
The Solution market acquired the maximum revenue share in the Global Narrowband Internet of Things Market by Component in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7.4 Billion by 2028. Mainly designed sensors & devices are the fundamental parts of the NB-IoT solutions. These devices gather statistics from their surrounding and communicate them to NB-IoT transmission nodes or base stations. Individual base stations are connected to an IoT cloud application servers and gateway for data analysis and centralized monitoring.
The Smart Meters market is showcasing a CAGR of 51.1% during (2022 - 2028). Smart meters are preferred by energy providers in order to enable precise and automatic billing. A smart meters is a piece of technology that monitors energy use and facilitates two-way communication between utility companies and customers. It regularly logs the amount of energy used, typically every hour, and relays this data to the utility for billing and monitoring purposes. Smart meters are preferred by energy providers in order to enable precise and automatic billing.
The Guard market is leading the Global Narrowband Internet of Things Market by Deployment Mode in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4.3 Billion by 2028. The guard band enables the utilisation of spectrum near the LTE carriers' current channel edges. Without reducing the capacity of the LTE carrier adjacent to it, the NB-IoT carrier can be installed in the LTE guard band.
The Infrastructure market has shown the growth rate of 49.2 % during the forecast period. This is because of the large-scale acceptance of the NB-IoT technology in applications related to smart security and surveillance systems, smart lighting, environmental monitoring, smart building, smart infrastructure, smart city projects, and disaster management applications.
The North America market dominated the Global Narrowband Internet of Things Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3.2 Billion by 2028. The Asia Pacific market would register a CAGR of 52.8% during (2022 - 2028). Additionally, The Europe market is witnessing a CAGR of 51.2% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/narrowband-internet-of-things-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Intel Corporation, Qualcomm, Inc., Huawei Technologies Co., Ltd. MediaTek, Inc., Nokia Corporation, Verizon Communications, Inc., AT&T, Inc., Vodafone Group Plc, Orange S.A., and Ericsson AB.
By Component
By Application
By Deployment Mode
By Vertical
By Geography
Companies Profiled
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