The global narrowband-Iot (NB-IoT) market size is expected to reach USD 6,020.2 million by 2025, registering a CAGR of 34.9% from 2019 to 2025. The growing demand for deployment of innovative technologies to track and monitor assets and people accurately in line with the smart city initiatives being pursued aggressively all around the world is expected to drive the growth of the market. Other factors, such as low power consumption, lower component costs, and wider coverage, are also expected to contribute toward the growth of the market.
Access
Sample Report of this report @ https://www.radiantinsights.com/research/narrowband-iot-market/request-sample
Narrowband-IoT, which is also known as
LTE Cat NB1, happens to be a Low Power Wide Area (LPWA) network technology
standard used to connect a wide range of smart sensors and devices using a
wireless cellular network. NB-IoT devices operate in the licensed spectrum and
ensure secure and reliable connectivity to end users.
Incumbents of the automotive industry
are responding to the passengers' safety concerns by adopting emerging
technologies that can potentially offer safer, convenient, and efficient
transportation. As such, the use of Narrowband-IoT in the automotive industry
is growing rapidly owing to the capability of NB-IoT to accurately track
vehicles, identify and avoid highway congestions, and subsequently contribute
toward effective traffic management. The looming commercialization of the
upcoming connected and autonomous vehicles is also expected to play a key role
in driving the growth of the NB-IoT market over the forecast period.
Energy and utility companies are widely
adopting the NB-IoT technology for smart meters to remotely monitor the usage
of power, water, and gas in residential and commercial buildings, and to obtain
the usage data for issuing monthly bills. The usage data also helps energy and
utility companies in tracking the consumption and formulating energy-saving
strategies accordingly.
Further
key findings from the study suggest:
• The module segment is anticipated to
emerge as the fastest-growing segment over the forecast period owing to the
increasing number of IoT applications and declining manufacturing costs of
NB-IoT modules
• The tracker segment is anticipated to
gain traction over the forecast period owing to the growing use of trackers for
tracking and monitoring production processes and assets, particularly those
which are difficult to monitor manually
• The wearables segment is expected to
witness the fastest growth over the forecast period due to the increasing
demand for wearables such as fitness wristbands to monitor exercise activities
and health monitoring devices to monitor the health status, as well as other
dedicated wearables to track children and elderly people for safety purposes
• Asia Pacific is expected to register
the highest CAGR from 2019 to 2025 owing to the rapidly growing demand for
wearables and smartphones in line with the continued urbanization and various
smart city initiatives being undertaken
• Key players operating in the NB-IoT
market include AT&T; Huawei Technologies Co., Ltd.; Qualcomm Technologies,
Inc.; Cellco Partnership (Verizon Wireless); MediaTek Inc.; T-Mobile US, Inc.;
Intel Corporation; Nokia; Vodafone Group PLC; Sequans; Telefonaktiebolaget LM
Ericsson; and Altair Semiconductor.
Browse
Full Report With TOC @ https://www.radiantinsights.com/research/narrowband-iot-market
About
Radiant Insights
Radiant Insights is a platform for
companies looking to meet their market research and business intelligence
requirements. We assist and facilitate organizations and individuals procure
market research reports, helping them in the decision making process. We have a
comprehensive collection of reports, covering over 40 key industries and a host
of micro markets. In addition to over extensive database of reports, our
experienced research coordinators also offer a host of ancillary services such
as, research partnerships/ tie-ups and customized research solutions.
Media
Contact:
Michelle Thoras
201 Spear Street 1100,
Suite 3036, San Francisco,
CA 94105, United States
Tel: 1-415-349-0054
Toll Free: 1-888-928-9744
Mail: sales@radiantinsights.com
No comments:
Post a Comment