The global narrowband IOT chipset market is expected to reach an estimated $6.3 billion by 2031 with a CAGR of 37.0% from 2025 to 2031. The major drivers for this market are the increasing adoption of IOT devices, the declining cost of NB-IOT chipsets, and growing government initiatives to build smart cities in developing countries.
The future of the global narrowband IOT chipset market looks promising with opportunities in the guard, in-band, and stand-alone markets.
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
The future of the global narrowband IOT chipset market looks promising with opportunities in the guard, in-band, and stand-alone markets.
- Within the device category, smart meters will remain a larger segment over the forecast period as they have no additional spectrum cost and utilize less mobile broadband capacity than the in-band deployment.
- Within the deployment category, the guard will remain the largest segment due to the increasing need to monitor energy usage more precisely thereby reducing the excessive consumption of resources.
- In terms of region, APAC will remain the largest over the forecast period due to growing investments and business expansion opportunities in countries like China and Japan.
Emerging Trends in the Narrowband Iot Chipset Market
New emerging trends in the Narrowband IoT (NB-IoT) chipset market highlight its ever-evolving role within the broader IoT ecosystem. These trends are shaping the development of connectivity, application integration, and market growth for NB-IoT solutions.- NB-IoT Chipsets Integrated with 5G Networks: The integration of NB-IoT chipsets with 5G networks enhances data speeds and connectivity for devices. This trend supports the development of smart city projects, industrial automation, and advanced IoT applications that require lower latency and higher data throughput.
- Increased Focus on Security: The growing emphasis on security features in NB-IoT chipsets directly correlates with the increased proliferation of IoT devices. This includes advanced encryption, secure boot processes, and stronger authentication mechanisms to protect data from unauthorized access.
- Power Efficiency: Improved power efficiency is a result of innovations in chipset design. This is a critical factor for battery-operated IoT devices, as it extends their operational life, making them suitable for remote applications that require long-duration functionality.
- Cost Reduction Initiatives: One of the key trends in the market is the reduction of costs in NB-IoT chipsets. This trend will make IoT solutions more affordable and broaden their adoption in cost-sensitive applications and emerging markets, such as smart metering and agricultural monitoring.
- Expansion into New Verticals: NB-IoT chipsets are expanding into new verticals, such as healthcare and environmental monitoring. This trend is driven by their ability to provide low-power, reliable connectivity for a wide range of use cases beyond traditional applications.
Recent Developments in the Narrowband Iot Chipset Market
Recent bifurcations in the narrowband IoT chipset market have been characterized by technological advancements and strategic changes. These developments are designed to enhance the capabilities of NB-IoT and meet the requirements arising from various industry sectors.- New NB-IoT chipset releases: Another important development is the release of new NB-IoT chipsets with increased functionality, such as higher data rates and improved power efficiency. This opens up more efficient and varied applications in smart cities and industrial IoT.
- NB-IoT chipset integrations into 5G: This has been considered a significant step in the deployment of 5G-compatible NB-IoT chipsets. The integration leads to better performance and scalability for IoT applications, and therefore, lower latency and higher bandwidth for various connected devices.
- Strategic partnerships: Increased partnerships between chipset manufacturers and telecom operators are highly instrumental in driving market growth. In particular, such collaborations focus on joint development, infrastructure deployment, and the expansion of NB-IoT technology.
- Security enhancement: Advanced developments focus on enhancing security in NB-IoT chipsets. Advanced encryption and secure authentication mechanisms have been introduced to ensure data security and maintain the integrity of IoT networks.
- Cost-effective solutions: With the introduction of cost-effective NB-IoT chipsets, the technology is expected to see wider adoption in developing markets. These solutions help minimize the overall cost of IoT deployments, making the technology more affordable for various applications.
Strategic Growth Opportunities for Narrowband Iot Chipset Market
With the evolution and expansion of different applications, several strategic growth opportunities are emerging in the development of Narrowband IoT (NB-IoT) chipsets. Identifying these opportunities will provide various ways for stakeholders to take advantage of market trends and address several needs.- Smart City Solutions: NB-IoT chipsets used in smart city applications offer significant growth potential for investments. Different use cases include smart parking, smart waste management, and energy monitoring, with the technology providing low power consumption and extensive coverage.
- Agricultural Monitoring: NB-IoT chipsets present another growth opportunity in the agricultural monitoring segment. Solutions like irrigation systems and crop sensors benefit from NB-IoT technology, offering reliable low-power connectivity with broad coverage over large areas.
- Healthcare Applications: The deployment of NB-IoT chipsets within healthcare solutions holds massive potential. Their applications range from remote patient monitoring to wearable health devices and medical asset tracking, all of which require reliable connectivity.
- Industrial Automation: NB-IoT chipsets are also well-suited for industrial automation, including connected sensors, equipment monitoring, and predictive maintenance. Their ability to support a large number of devices with minimal power consumption is ideal for industrial environments.
- Utility Management: Utility management has significant growth potential with the deployment of NB-IoT chipsets for smart metering of water, gas, and electricity. Additionally, the technology’s efficiency and wide coverage make it ideal for effective utility infrastructure management.
Narrowband Iot Chipset Market Drivers and Challenges
The drivers and challenges of the Narrowband IoT chipset market range from technological advancements and economic considerations to regulatory factors. This paper is therefore imperative for understanding these elements as one navigates the dynamics at play within the market.The factors driving the narrowband IoT chipset market include:
- Technological Advancements: Continuous innovations in NB-IoT technology, such as advancements in chipsets and integration with 5G, present significant opportunities for market growth. These enhancements further increase the connectivity and performance of NB-IoT solutions, expanding their applications.
- Increasing IoT Adoption: Growing IoT adoption across various sectors is a major driver for the growth of NB-IoT chipsets. The demand for reliable, low-power connectivity justifies the need for advanced NB-IoT solutions.
- Government Support: Supportive policies and incentives from governments encourage the development and deployment of IoT infrastructure. This regulatory support fosters market growth and investment in NB-IoT technology.
- Cost Efficiency: One of the key drivers is the cost efficiency of NB-IoT chipsets, which offer low-cost connectivity. Cost-efficient solutions create opportunities for broader applications in sectors such as smart metering and agriculture, among others.
- 5G Network Expansion: The deployment of 5G networks supports the growth of NB-IoT through enhanced connectivity and higher data speeds. Further integration of these networks will expand the capabilities and applications of NB-IoT technology.
Challenges in the narrowband IoT chipset market include:
- Security Issues: A major challenge during the deployment of NB-IoT devices and networks is ensuring robust security. Key tasks include addressing vulnerabilities and preventing data breaches to maintain trust.
- Regulatory Compliance: The diversity in regulatory requirements and standards for NB-IoT technology adds complexity, especially regarding regional regulations and interoperability across different markets.
- Integration Issues: Integrating NB-IoT chipsets with existing systems and infrastructure can be complex and costly. Compatibility challenges and system upgrades present barriers to seamless adoption.
List of Narrowband IOT Chipset Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies narrowband IOT chipset companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.Some of the narrowband IOT chipset companies profiled in this report include:
- Huawei
- Qualcomm
- Nordic Semiconductor
- Samsung
- Intel Corporation
Narrowband Iot Chipset by Segment
The study includes a forecast for the global narrowband IOT chipset market by device, deployment, end use, and region.Device [Analysis by Value from 2019 to 2031]:
- Smart Meters
- Smart Parking
Deployment [Analysis by Value from 2019 to 2031]:
- Guard
- In-Band
- Stand-Alone
End Use [Analysis by Value from 2019 to 2031]:
- Energy & Utilities
- Infrastructure
- Building Automation
Region [Analysis by Value from 2019 to 2031]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
Country-Wise Outlook for the Narrowband Iot Chipset Market
The marketplace continues to evolve, with each geographical region adopting and continuously innovating its form of Narrowband IoT (NB-IoT) chipsets. NB-IoT, with its extremely low power consumption and wide coverage, is gaining importance for IoT applications. New developments in NB-IoT technologies across major markets like the United States, China, Germany, India, and Japan show that NB-IoT is becoming increasingly important every day in enabling smart infrastructure and connected devices.- United States: NB-IoT chipsets in the U.S. focus on integrating chipsets with 5G networks for better connectivity and performance. Tech giants are developing chipsets capable of higher data throughput and improved energy efficiency, targeting applications such as smart cities, agriculture, and industrial IoT. Chipset manufacturers are increasingly partnering with telecom operators to expand the infrastructure of NB-IoT.
- China: China continues to be one of the leading countries in the NB-IoT chipset market. There is a growing trend toward high-volume device production in the country, supported by competitive cost-of-production mechanisms. Chinese companies are driving innovation with chipsets that support a wide range of applications, from smart meters to connected devices. Government support and investment in IoT infrastructure are accelerating the development and adoption of NB-IoT technologies in the region.
- Germany: Industrial and smart infrastructure use cases in Germany are driving the advancement of NB-IoT chipset technology. German firms in this sector are developing chipsets that boast high reliability, security, and compatibility with existing industrial systems. Germany's commitment to digital transformation and smart manufacturing is propelling innovations in NB-IoT technology.
- India: The NB-IoT chipset market in India is booming, with a focus on low-cost and local applications. Indian companies are developing affordable chipsets targeted at smart agriculture, utility management, and rural connectivity projects. The government is supporting this growth through policies focused on digital infrastructure and the deployment of IoT in underdeveloped areas.
- Japan: The NB-IoT chipset market is also growing in Japan as the country shows a keen interest in integrating IoT solutions into smart homes and industries. Most Japanese companies are focused on high-performance chipsets that support low-latency communication and enhanced data security. This market benefits from Japan's strong focus on technological innovation and advanced infrastructure.
Features of this Global Narrowband IOT Chipset Market Report
- Market Size Estimates: Narrowband iot chipset market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2019 to 2024) and forecast (2025 to 2031) by various segments and regions.
- Segmentation Analysis: Narrowband iot chipset market size by device, deployment, end use, and region in terms of value ($B).
- Regional Analysis: Narrowband iot chipset market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different devices, deployment, end uses, and regions for the narrowband IOT chipset market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the narrowband IOT chipset market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model. expand your business in this or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the narrowband IOT chipset market by device (smart meters and smart parking), deployment (guard, in-band, and stand-alone), end use (energy & utilities, infrastructure, and building automation), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
Table of Contents
1. Executive Summary
2. Global Narrowband IOT Chipset Market : Market Dynamics
3. Market Trends and Forecast Analysis from 2019 to 2031
4. Market Trends and Forecast Analysis by Region from 2019 to 2031
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned
The leading players profiled in this Narrowband IOT Chipset market report include:- Huawei
- Qualcomm
- Nordic Semiconductor
- Samsung
- Intel Corporation
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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