Narrowband IoT chipset is referred to a low power wide area radio technology enabling the connection of services and devices through cellular telecommunication bands. This technology is expected to help in enhancing the indoor coverage, lowering power consumption, and decreasing delay sensitivity. These chipsets also support several devices with a low throughput and help in utilizing resource blocks with LTE carrier. Narrowband IoT chipset technology also helps in connecting devices efficiently along with the capability of managing infrequent and fewer data from both the sides.
The global narrowband IoT chipset market is classified on the basis of application areas, devices, technology, and stationing. In terms of technology, the market has been bifurcated into hardware and software. The global narrowband IoT chipset market is segmented into standalone, in band, and guard band on the basis of stationing. The key application areas of narrowband IoT chipsets include waste management, safety and security, infrastructure, agriculture, healthcare, automotive and transportation, manufacturing, and automation.
One of the primary factors behind the growth of the global narrowband IoT chipset market is the growing demand for cellular Internet of Things network across the globe. The demand for narrowband IoT chipsets is expected to gain momentum in the near future owing to the low cost of components required in it and high penetration of IoT across several sectors. However, high technological dependence and lack of standardization are expected to act as a road block in the growth of the market.
Region-wise, the global narrowband IoT chipset market is divided into North America, Latin America, Eastern and Western Europe, the Middle East and Africa, and Asia Pacific. North America led the market and is expected to maintain a lead over the next couple of years owing to the huge penetration of internet and investments being made by governments to build smart cities. The key players operating in the market are Samsung Group, Nokia Networks, Intel Corporation, Verizon Communication, Huawei Technologies Co. Ltd., and CommSolid GmbH among others.
The global narrowband IoT chipset market is likely to witness promising growth over the forthcoming years owing to rising adoption of machine-to-machine communication between electronic or mechanical devices, finds Transparency Market Research (TMR) in a market research report. The publication is titled, “Narrowband IoT Chipset Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024.” The report is an overview of the historical growth trail, assessment of the current situation, and future growth prospects of the global narrowband IoT chipset market. An evaluation of the factors driving or hindering the growth of the market has also been offered in the study. The report also provides information on the shares, key marketing strategies, and products of the players operating in the market.