PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1236029
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1236029
Global Narrowband IoT Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Narrowband IoT is a data transmission standard designed to enable devices to operate in mobile carrier networks. Low bandwidth signals are used by NB-IoT technology to communicate inside the framework of GSM and LTE. The fundamental elements of NB-IoT systems are specially constructed gadgets and sensors. These gadgets gather data about their environment and send it to NB-IoT base stations or transmission nodes. The increasing penetration of IoT connected devices and growing demand for in-car infotainment services are key factors driving the market growth.
The rising penetration of IoT connected devices is contributing towards the growth of the Global Narrowband IoT market. For instance - as per Statista - as of 2020, the total number of Internet of Things (IoT) devices worldwide were estimated at 9.7 billion in 2020, and as per projection the number of IoT devices would grow to 29 billion IoT devices in 2030. Also, growing investment in smart cities and smart buildings and rising need for connectivity in IoT applications would create lucrative growth prospectus for the market over the forecast period. However, the high deployment Cost of Narrowband IoT devices and availability of alternatives stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Narrowband IoT Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of leading market players and rising adoption of NB IoT technology in the region. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising investment in smart cities and growing employment of narrowband IoT technology in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable