PUBLISHER: Allied Market Research | PRODUCT CODE: 1239575
PUBLISHER: Allied Market Research | PRODUCT CODE: 1239575
The narrowband-internet of things (NB-IoT) is a low-power wide-area technology developed to enable a wide range of new IoT devices and services for consumers. In addition, it improves the power consumption of devices, system capacity, and spectrum efficiency, especially in deep coverage. Moreover, it is supported by all major mobile equipment, chipset, and module manufacturers. Furthermore, it can co-exist with 2G, 3G, and 4G mobile networks and support all the security and privacy features of mobile networks, such as support for user identity confidentiality, entity authentication, confidentiality, and mobile equipment identification.
Increasing adoption of IoT along with better battery life for other connected devices and winding applications of NB-IoT Technology is boosting the growth of the narrowband-internet of things (NB-IoT) market. In addition, the rapid development in IoT industry and rising demand for new cellular communication technology positively impact the growth of the narrowband-internet of things (NB-IoT) market. However, the stringent competition from alternate technologies and the lack of standardization of IoT regulations is hampering the narrowband internet of things (NB-IoT) market growth. On the contrary, increased investments by technology companies and telecommunications service providers is expected to offer remunerative opportunities for the expansion of the narrowband-internet of things (NB-IoT) market during the forecast period.
The Narrowband- internet of things (NB-IoT) industry is segmented on the basis of component, deployment mode, application, industry vertical and region. On the basis of the component, the market is categorized into solution, and service. By deployment mode, it is classified into in-band, guard band, and standalone. By application, it is divided into smart meter, smart parking, alarm and detector, smart lighting, tracker, wearable, and others. By industry vertical, it is classified into infrastructure, agriculture, automotive, healthcare, energy and utilities, manufacturing, consumer electronics, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the narrowband-internet of things (NB-IoT) market are Huawei Technologies Co., Ltd., Intel Corporation, MediaTek Inc, Verizon Communications Inc., Vodafone Group plc, AT&T Inc., Nokia Corporation, Orange S.A., Qualcomm Technologies, Inc., and Telefonaktiebolaget LM Ericsson. These players have adopted various strategies to increase their market penetration and strengthen their position in the narrowband internet of things industry.