European Narrow Band (NB)-IoT Market 2026-2035

Description

List of Tables

European Narrow Band (NB)-IoT Market Size, Share & Trends Analysis Report by Deployment Type (Guard Band, In-Band, and Standalone), By Industry (Logistics & Transportation, Energy & Utilities, Agriculture, Industrial Manufacturing, Healthcare, and Others), Forecast Period (2026-2035)

Industry Overview

European narrow band IoT market was valued at $922.5 million in 2025 and is projected to reach $6,706.8 million by 2035, growing at a CAGR of 22.0% during the forecast period (2026-2035). The European Narrow Band IoT market is expanding steadily, supported by the region's focus on digital transformation and smart connectivity. Growing adoption of IoT-enabled applications in sectors such as transportation, agriculture, and infrastructure is fueling demand. Enhanced network coverage and the rollout of 5G are improving integration across industries. Companies are investing in NB-IoT to enable efficient data transmission at lower costs. The market is also benefiting from regulatory encouragement toward sustainable and connected technologies. Collectively, these factors are driving consistent market advancement across Europe.

Market Dynamics

Expansion Across the Energy and Utilities Sector

The European Narrow Band IoT market is witnessing steady growth driven by increased adoption within the energy and utilities segment. Power distribution networks and smart metering systems are being upgraded with NB-IoT solutions to enhance operational transparency. These technologies enable real-time monitoring, predictive maintenance, and efficient energy management. Utility providers across Europe are integrating IoT connectivity to minimize losses and optimize consumption patterns. The need for reliable and low-cost communication networks further accelerates this adoption. As a result, NB-IoT has become a vital component of Europe's digital energy transition.

Rising Deployment of In-Band NB-IoT Networks

The deployment of in-band NB-IoT technology is contributing significantly to the region's market expansion. Telecom operators are utilizing existing LTE spectrum to implement in-band IoT networks, reducing infrastructure costs and ensuring seamless coverage. This approach supports faster network rollouts while maintaining robust connectivity standards. Businesses benefit from their efficient use of bandwidth and lower latency, which improves performance for IoT-enabled devices. The flexibility of integrating in-band systems within existing cellular networks promotes scalability. Consequently, in-band deployment is becoming a preferred strategy for European telecom providers.

Market Segmentation

Based on the deployment type, the market is segmented into guard band, in-band, and standalone.
Based on the industry, the market is segmented into logistics & transportation, energy & utilities, agriculture, industrial manufacturing, healthcare, and others.

In-Band Segment to Lead the Market with the Largest Share

In-band deployment is emerging as a key factor propelling the European narrow band IoT market. Telecom operators are leveraging existing LTE networks to integrate NB-IoT solutions efficiently. This strategy reduces infrastructure costs and ensures wide network availability. In-band systems allow better resource utilization and faster rollout without disrupting existing services. The approach also provides improved network reliability and scalability for future IoT demands. As more providers adopt this model, in-band deployment is set to play a central role in the region's IoT ecosystem.

Energy & Utilities: A Key Segment in Market Growth

The rising implementation of NB-IoT in the energy and utilities sector is significantly contributing to market expansion in Europe. Smart metering, grid automation, and remote monitoring solutions are increasingly dependent on NB-IoT networks. These technologies help reduce operational inefficiencies while improving energy management accuracy. Utility companies are adopting IoT-based systems to enhance service delivery and manage consumption in real time. The ability to support large-scale connections with low power use strengthens the appeal of NB-IoT solutions. This trend is transforming the way European energy systems operate and communicate.

Regional Outlook

European narrow band IoT market is further divided by countries, including the UK, Germany, France, Italy, Spain, Russia, and the Rest of Europe.

Germany Dominates the Market with a Major Share

Germany's narrow band IoT market is witnessing notable progress owing to its strong industrial base and emphasis on digital innovation. The country's manufacturing and logistics sectors are integrating IoT solutions to optimize production and supply chains. Government-backed smart city initiatives are further supporting large-scale NB-IoT deployment. German telecom operators are expanding coverage to meet growing enterprise connectivity needs. The combination of technological readiness and supportive policies is driving strong market momentum. Consequently, Germany continues to set benchmarks for IoT adoption across the European landscape.

Market Players Outlook

The major companies operating in the European narrow band IoT market include Ericsson AB, Nokia Corp., Telit Communications PLC, u-blox Holding AG, Vodafone Group Plc., among others. Market players are leveraging partnerships, collaborations, mergers, and acquisition strategies for business expansion and innovative product development to maintain their market positioning.

Recent Development

In February 2024, BT launched a multi-million-pound NB-IoT network to support UK smart cities. NB-IoT is a low-power network with the potential to transform industries such as utilities, construction, and the public sector - by securely and reliably connecting the devices to automate many processes that currently require manual oversight or direct involvement. BT's new NB-IoT network will enable low-data-demand assets, such as street lighting or underground water sensors, to be connected over a smart network.

The Report Covers:

Market value data analysis of 2025 and forecast to 2035.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the European narrow band IoT market. Based on the availability of data, information related to new products and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.

Product Code: OMR2023648

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
European Narrow Band IoT Market Sales Analysis - Deployment Type | Industry | ($ Million)
European Narrow Band IoT Market Sales Performance of Top Countries
1.1. Research Methodology
Primary Research Approach
Secondary Research Approach
1.2. Market Snapshot

2. Market Overview and Insights

2.1. Scope of the Study
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key European Narrow Band IoT Industry Trends
- 2.2.2. Market Recommendations

3. Market Determinants

3.1. Market Drivers
- 3.1.1. Drivers For European Narrow Band IoT Market: Impact Analysis
3.2. Market Pain Points and Challenges
- 3.2.1. Restraints For European Narrow Band IoT Market: Impact Analysis
3.3. Market Opportunities

4. Competitive Landscape

4.1. Competitive Dashboard - European Narrow Band IoT Market Revenue and Share by Manufacturers
Narrow Band IoT Product Comparison Analysis
Top Market Player Ranking Matrix
4.2. Key Company Analysis
- 4.2.1. Ericsson AB
  - 4.2.1.1. Overview
  - 4.2.1.2. Product Portfolio
  - 4.2.1.3. Financial Analysis
  - 4.2.1.4. SWOT Analysis
  - 4.2.1.5. Business Strategy
- 4.2.2. Nokia Corp.
  - 4.2.2.1. Overview
  - 4.2.2.2. Product Portfolio
  - 4.2.2.3. Financial Analysis
  - 4.2.2.4. SWOT Analysis
  - 4.2.2.5. Business Strategy
- 4.2.3. Telit Communications PLC
  - 4.2.3.1. Overview
  - 4.2.3.2. Product Portfolio
  - 4.2.3.3. Financial Analysis
  - 4.2.3.4. SWOT Analysis
  - 4.2.3.5. Business Strategy
- 4.2.4. u-blox Holding AG
  - 4.2.4.1. Overview
  - 4.2.4.2. Product Portfolio
  - 4.2.4.3. Financial Analysis
  - 4.2.4.4. SWOT Analysis
  - 4.2.4.5. Business Strategy
- 4.2.5. Vodafone Group Plc
  - 4.2.5.1. Overview
  - 4.2.5.2. Product Portfolio
  - 4.2.5.3. Financial Analysis
  - 4.2.5.4. SWOT Analysis
  - 4.2.5.5. Business Strategy
4.3. Top Winning Strategies by Market Players
- 4.3.1. Merger and Acquisition
- 4.3.2. Product Launch
- 4.3.3. Partnership And Collaboration

5. European Narrow Band IoT Market Sales Analysis by Deployment Type ($ Million)

5.1. Guard Band
5.2. In-Band
5.3. Standalone

6. European Narrow Band IoT Market Sales Analysis by Industry ($ Million)

6.1. Logistics and Transportation
6.2. Energy & Utilities
6.3. Agriculture
6.4. Industrial Manufacturing
6.5. Healthcare
6.6. Other (Retail)

7. Regional Analysis

7.1. European Narrow Band IoT Market Sales Analysis - Deployment Type | Industry | ($ Million)
Macroeconomic Factors for Europe
- 7.1.1. UK
- 7.1.2. Germany
- 7.1.3. Italy
- 7.1.4. Spain
- 7.1.5. France
- 7.1.6. Russia
- 7.1.7. Rest of Europe

8. Company Profiles

8.1. Ericsson AB
- 8.1.1. Quick Facts
- 8.1.2. Company Overview
- 8.1.3. Product Portfolio
- 8.1.4. Business Strategies
8.2. Fibocom Wireless
- 8.2.1. Quick Facts
- 8.2.2. Company Overview
- 8.2.3. Product Portfolio
- 8.2.4. Business Strategies
8.3. Huawei Technologies Co., Ltd.
- 8.3.1. Quick Facts
- 8.3.2. Company Overview
- 8.3.3. Product Portfolio
- 8.3.4. Business Strategies
8.4. Intel Corp.
- 8.4.1. Quick Facts
- 8.4.2. Company Overview
- 8.4.3. Product Portfolio
- 8.4.4. Business Strategies
8.5. Kontron AG
- 8.5.1. Quick Facts
- 8.5.2. Company Overview
- 8.5.3. Product Portfolio
- 8.5.4. Business Strategies
8.6. MediaTek Inc.
- 8.6.1. Quick Facts
- 8.6.2. Company Overview
- 8.6.3. Product Portfolio
- 8.6.4. Business Strategies
8.7. Murata Manufacturing Co., Ltd.
- 8.7.1. Quick Facts
- 8.7.2. Company Overview
- 8.7.3. Product Portfolio
- 8.7.4. Business Strategies
8.8. Nokia Corp.
- 8.8.1. Quick Facts
- 8.8.2. Company Overview
- 8.8.3. Product Portfolio
- 8.8.4. Business Strategies
8.9. Nordic Semiconductor ASA
- 8.9.1. Quick Facts
- 8.9.2. Company Overview
- 8.9.3. Product Portfolio
- 8.9.4. Business Strategies
8.10. OQ Technology
- 8.10.1. Quick Facts
- 8.10.2. Company Overview
- 8.10.3. Product Portfolio
- 8.10.4. Business Strategies
8.11. Qualcomm Technologies, Inc.
- 8.11.1. Quick Facts
- 8.11.2. Company Overview
- 8.11.3. Product Portfolio
- 8.11.4. Business Strategies
8.12. Samsung Electronics Co., Ltd.
- 8.12.1. Quick Facts
- 8.12.2. Company Overview
- 8.12.3. Product Portfolio
- 8.12.4. Business Strategies
8.13. Sequans Communications S.A.
- 8.13.1. Quick Facts
- 8.13.2. Company Overview
- 8.13.3. Product Portfolio
- 8.13.4. Business Strategies
8.14. Sierra Wireless, Inc.
- 8.14.1. Quick Facts
- 8.14.2. Company Overview
- 8.14.3. Product Portfolio
- 8.14.4. Business Strategies
8.15. SIMCom Wireless Solutions Co., Ltd.
- 8.15.1. Quick Facts
- 8.15.2. Company Overview
- 8.15.3. Product Portfolio
- 8.15.4. Business Strategies
8.16. Telit Communications PLC
- 8.16.1. Quick Facts
- 8.16.2. Company Overview
- 8.16.3. Product Portfolio
- 8.16.4. Business Strategies
8.17. TRASNA Solutions
- 8.17.1. Quick Facts
- 8.17.2. Company Overview
- 8.17.3. Product Portfolio
- 8.17.4. Business Strategies
8.18. u-blox Holding AG
- 8.18.1. Quick Facts
- 8.18.2. Company Overview
- 8.18.3. Product Portfolio
- 8.18.4. Business Strategies
8.19. Vodafone Group Plc
- 8.19.1. Quick Facts
- 8.19.2. Company Overview
- 8.19.3. Product Portfolio
- 8.19.4. Business Strategies
8.20. ZTE Corp.
- 8.20.1. Quick Facts
- 8.20.2. Company Overview
- 8.20.3. Product Portfolio
- 8.20.4. Business Strategies