The Presence of the Major Network Service Providers along with the Increased Smart Cities Mission is the main Reason for the Dominance of North America in the Narrowband (NB-IoT) Market!

• Vikas Kumar
• July 12, 2023
• NEWS, TELECOM & IT
• 0 Comments

The concept of smart cities, which use advanced technology to improve the quality of life for citizens, is gaining popularity around the world. One of the key technologies enabling smart cities is the IoT, where devices are connected to the internet to collect and share data. North America dominated its NB-IoT market in 2021 due to recent investments in the development of smart cities. NB-IoT is a type of IoT network specifically designed for low-power, low-bandwidth devices, making it a suitable technology for smart city applications. Besides, the increasing adoption of smart city initiatives is increasing the demand for NB-IoT technology. With NB-IoT, smart cities can collect and analyze data in real-time to help improve services such as traffic management, waste management, and public safety. For instance, NB-IoT can be used to monitor and manage parking lots, reduce street lighting energy consumption, and detect and prevent crime. Additionally, NB-IoT technology is used in various applications such as remote monitoring of industrial plants, smart agriculture, and health monitoring. These applications are also contributing to the growth of the NB-IoT market. Further on, the increasing deployment of NB-IoT networks by telecoms in the North American region and the availability of NB-IoT modules and chipsets continue to drive the regional growth of the market.

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Further, the APAC NB-IoT Market is also expected to grow at a strong CAGR during the forecast period (2022-2030). APAC is anticipated to emerge as the fastest-growing NB-IoT market primarily owing to the spur in demand for connected devices in China, India, and Japan coupled with the growing investment of the governments in the development of smart cities. For instance, according to the Indian Brand Equity Foundation (IBEF), Under Union Budget 2021-22, the Smart Cities Mission in India has been allocated USD 868 million as compared to USD 457 million in FY21.

• Revenue (2020-2030)- USD Mn

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Based on component, the market is bifurcated into network and module. The network segment held a dominating share of the market in 2021 owing to the high adoption of NB-IoT networks due to their cost-effectiveness, lower deployment costs, and lower operating costs. They offer better coverage and a longer range than traditional cellular networks and are designed to operate in challenging environments where other wireless technologies may not be practical.

On the basis of deployment, the market is categorized into standalone, in-band, and guard-band. Among these, the guard-band catered to a significant share of the market in 2021 and is expected to grow at a robust CAGR during the forecast period. One of the most important factors driving the expansion of this market is the capacity to utilize the cellular infrastructure that is already in place, such as antennas and Radio Frequency (RF) modules, without having to incur additional costs for spectrum.

Global NB-IoT Market Segmentation

Market Insight, by Component

• Network
• Module

Market Insights, by Deployment

• Standalone
• In-band
• Guard-band

Market Insights, by Device Type

• Wearables
• Tracker
• Smart Meter
• Smart Lighting
• Alarm & Detector
• Others

Market Insights, by Application

• Smart Cities
• Transportation & Logistics
• Energy & Utilities
• Agriculture
• Others

Market Insight, by Region

• North America
  •  U.S.
  •  Canada
  •  Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• APAC
  • China
  • India
  • Japan
  • Rest of APAC
• Rest of the World

Top Company Profiles

• Huawei Technologies Co., Ltd.
• Telefonaktiebolaget LM Ericsson
• Qualcomm Technologies, Inc.
• AT&T
• Verizon
• T‑Mobile USA, Inc.
• Vodafone Group Plc
• Nokia
• MediaTek Inc.
• Intel Corporation