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Narrowband IoT (NB-IoT) Market to Reach US$1052.69 Mn by 2025, Owing to Growing Adoption of Automation - TMR
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Based on end-user section, the global narrowband IoT (NB-IoT) market is divided into healthcare, retail, energy & utilities, transportation & logistics, agriculture, and smart cities are some of the key applications of narrowband IoT. Among these, smart cities are the leading segments as IoT devices are deployed in both residential and commercial buildings to make resource and energy allocation more effective with improved security.
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The narrowband IoT (NB-IoT) is a low power wide area network technology (LPWA) standard that connects a wide range of devices and services on established cellular network. NB-IoT is well suited for applications that deals with small amount of infrequent data transfer over long period. NB-IoT operates in licensed spectrum that offers secure and reliable connectivity while assuring quality of service.
The NB-IoT market is expected to show significant growth due to rapid development in IoT industry and rising demand of new cellular communication technology that are dedicated to IoT LPWA applications. The increasing demand for navigation, telematics, and in-car infotainment services in automotive & transportation industry is also supporting the market of The NB-IoT. The added advantages of NB-IoT such as low power consumption, excellent penetration coverage, and low component costs are also supporting growth in the global narrowband IoT market.
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Deployment, front-end complexity, and licensing costs of NB-IoT are hindering the growth of the market. Low-speed data transmission with privacy & security is also hindering the growth of the global narrowband IoT (NB-IoT) market. However, the global market is projected to show substantial growth owing to quick development in IoT industry and increasing demand of new cellular communication technology that are dedicated to IoT LPWA applications.
This review is based on Transparency Market Research's report, titled "Narrowband IoT (NB-IoT) Market (Component - Hardware (Module), Software and Services; Application - Smart Metering, Asset Tracking, Alarms & Event Detectors, Smart Parking, and Smart Bins; End-use Industry - Healthcare, Retail, Energy & Utilities, Transportation & Logistics, Agriculture, and Smart Cities) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025."
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o Hardware
o Module
o Others
o Software
o Services
o Smart Metering
o Asset Tracking
o Alarms & Event Detectors
o Smart Parking
o Smart Bins
o Others
o Healthcare
o Retail
o Energy & utilities
o Transportation & logistics
o Agriculture
o Smart Cities
o Others
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o U.S.
o Canada
o Rest of North America
o U.K.
o Germany
o France
o Rest of Europe
o India
o China
o Japan
o Australia
o Rest of Asia Pacific
o GCC Countries
o South Africa
o Rest of Middle East & Africa
o Brazil
o Rest of South America
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