Published Date: 31-Aug-2022
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According to a new report, published by KBV research, The Global Narrowband IoT (NB-IoT) Chipset Market size is expected to reach $7.7 billion by 2028, rising at a market growth of 51.6% CAGR during the forecast period.
The Alarms & Detectors market shows high market in Global Narrowband IoT (NB-IoT) Chipset Market by Application in 2021, thereby, achieving a market value of $2.0 billion by 2028. The growth of this segment is primarily attributed to the increasing number of smart homes across various developing and developed countries all over the world. Moreover, a number of governments all over the world are introducing numerous smart city project, which is another factor accelerating the integration of alarms and detectors.
The Stand-alone market is anticipated to grow at a CAGR of 52.1% during (2022 - 2028). Operators can deploy NB-IoT using free spectrum resources in a scenario known as standalone deployment. These resources could be the operator's non-standard bandwidth spectrum fragments or ones that were reframed to avoid being used by other radio access technologies (RATs).
The Hardware market is leading the Global Narrowband IoT (NB-IoT) Chipset Market by Offering in 2021, thereby, achieving a market value of $5.4 billion by 2028. The growth of the segment is majorly attributed to the increasing demand for smart home equipment, such as smart meters and smart alarms. With the increasing disposable income of people all over the world, they are more inclined toward improving their lifestyles. I
The Automotive & Transportation market is experiencing a CAGR of 52.1% during (2022 - 2028). The growth of the segment is rising as a result of the increasing integration of several advanced technologies in new-generation vehicles. For instance, manufacturers are incorporating various new technologies, like Tracking and smart alarms. Due to the adoption of these technologies in vehicles, the demand for narrowband IoT chipsets is also rising.
The Asia Pacific market dominated the Global Narrowband IoT (NB-IoT) Chipset Market by Region in 2021, thereby, achieving a market value of $2.9 billion by 2028. The Europe market is exhibiting a CAGR of 50.7% during (2022 - 2028). Additionally, The North America market is estimated to witness a CAGR of 51% during (2022 - 2028).
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 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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