NB loT Technology Market Synopsis

Global NB IoT Technology Market size is expected to grow from USD 321.9 Million in 2022 to USD 2757.93 Million by 2030, at a CAGR of 30.8% during the forecast period (2023-2030).

Narrowband Internet of Things (NB-IoT) is a low-power, wide-area network (LPWAN) technology crafted for the efficient communication of small, sporadic data transmissions across a multitude of devices. Utilizing licensed cellular spectrum, NB-IoT offers enhanced coverage, prolonged battery life, and simplified device configurations, making it well-suited for connecting diverse Internet of Things (IoT) devices.

• Smart cities, agriculture, healthcare, and industrial automation are just a few of the many industries where NB-IoT applications are used. It enables the more efficient administration of resources such as parking systems, garbage disposal, and street lighting in smart cities. Through the monitoring of crop health, irrigation systems, and soil conditions, NB-IoT helps with precision farming in agriculture. With support for tracking medical equipment and remote patient monitoring, NB-IoT benefits the healthcare industry. Improved connection for process optimization, predictive maintenance, and machinery monitoring and control results from industrial automation.
• The market for narrowband IoT (NB-IoT) is expected to increase significantly due to the IoT sector's rapid advancement and the growing need for new communication technologies. This new technology is intended for use with Internet of Things LPWA applications. The automotive and transportation sectors have witnessed a surge in demand for in-car infotainment services, including navigation. Furthermore, cheap component costs, low power consumption, and exceptional penetration coverage are expected to bode well for the worldwide narrowband Internet of Things (NB-IoT) market in a few years.

NB IoT Technology Market Trend Analysis:

Increasing Urbanization and Demand for Smart Cities

• The Narrowband Internet of Things (NB-IoT) technology industry is growing due in large part to rising urbanization and the need for smart city projects. Cities must manage their resources, infrastructure, and services more efficiently as the world's population continues to expand. These issues are successfully addressed by NB-IoT technology, which offers a scalable and affordable way to connect and keep an eye on a large number of low-power devices dispersed throughout large metropolitan areas. The development of smart city ecosystems is made possible by this connectedness, which enables the smooth integration and optimization of several elements, including waste management, energy grids, public safety, and transportation systems.

• Smart cities use NB-IoT to improve urban living by using data-driven insights and resource efficiency. For instance, by enabling real-time traffic situation monitoring, putting smart parking solutions into place, and enhancing public transportation services, NB-IoT enables intelligent transportation systems. Furthermore, it is essential to the implementation of smart energy networks, which enhance the distribution and consumption management of electricity.

• Encouraging innovation in critical domains like public safety, healthcare, and environmental monitoring, promotes an all-encompassing strategy for urban growth. The need for NB-IoT technology is expected to continue growing as cities throughout the world adopt the smart infrastructure paradigm, influencing urban living in the future with increased efficiency, sustainability, and connectedness.

Rising Need for Emerging Applications

• Growing consumer demand for new applications presents a significant potential for the market's expansion. Given how rapidly technology is changing a variety of sectors, creative solutions that can adapt to new difficulties and boost productivity are becoming more and more necessary. This requirement is especially clear in industries like healthcare, where cutting-edge technologies like telemedicine, tailored healthcare solutions, and remote patient monitoring are becoming more and more popular. These applications' incorporation of Narrowband Internet of Things (NB-IoT) technology offers a reliable and expandable connection option, enabling more efficient and easily accessible healthcare services.
• Furthermore, there are a lot of chances for the NB-IoT market to grow given the growing trajectory of smart cities and the Internet of Things (IoT) across many industries. Smart city programs are constantly evolving, with applications such as energy management, environmental monitoring, and intelligent transportation systems. due to its wide coverage capabilities, energy-efficient characteristics, and affordability, NB-IoT is positioned to be an important enabler for the expansion of these applications.
• The flexibility and adaptability of NB-IoT perform a significant role in designing and implementing innovative solutions as companies aggressively research and integrate emerging technologies to remain competitive and fulfil changing customer needs. The growing desire for new applications in a variety of industries highlights how revolutionary NB-IoT technology will be in influencing connectivity in the future and driving market growth.

NB IoT Technology Market Segment Analysis:

NB IoT Technology Market is Segmented Based on By Component, Deployment, Application, and End-User.

By Application, Smart Metering Segment Is Expected to Dominate the Market During the Forecast Period

• Narrowband Internet of Things (NB-IoT) connectivity is used by smart meters to gather data on energy use and monitor it in real time. This technology is particularly well-suited for large-scale utility deployments due to its cost-effectiveness, low power consumption, and wide coverage. NB-IoT-powered smart metering systems are being used by utility companies globally as the emphasis on energy saving grows. Smart meter integration makes it possible for utilities to remotely monitor, control, and optimize energy use, which greatly improves operational efficiency and sustainable practices. The market domination of NB-IoT technology is expected to be established by the smart metering segment, owing to the growing need for intelligent utility systems and smart grids.

By Deployment, Standalone Segment Held the Largest Share Of 53.10%  In 2022

• The standalone segment has asserted its dominance in the market, holding the largest share, owing to its self-contained deployment and independence from existing infrastructure. This prominence is rooted in the autonomy of standalone Narrowband Internet of Things (NB-IoT) applications, which operate with their dedicated network architecture. This autonomy provides a solution that is flexible and easily implementable across various industries, contributing significantly to the segment's leadership position. Standalone NB-IoT solutions are widely adopted in scenarios where establishing new infrastructure is feasible or where independence from existing networks is a priority. With the standalone segment's capacity to meet diverse deployment requirements in sectors like industrial automation, agriculture, and smart cities, it maintains a significant share, underscoring its adaptability and effectiveness in addressing specific industry needs.

NB IoT Technology Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast Period

• The Asia-Pacific area is set to take the lead in the industry and become a driving force behind the adoption and use of Narrowband Internet of Things (NB-IoT) technology. The fast-developing economy, increasing urbanization, and expanding population of the area all have an impact on this leadership. Asia-Pacific nations, including China, India, and Japan, are aggressively investing in and embracing IoT technology for a variety of uses, including smart cities, industrial automation, and agriculture. The area is leading the way in the growth of the NB-IoT industry, which is further reinforced by robust government backing and a healthy ecosystem of technology suppliers. Asia Pacific is positioned to maintain its leadership and play a crucial role in determining the global course of the NB-IoT market as industries there use NB-IoT for creative solutions and start digital transformations.

Key Players Covered in NB IoT Technology Market:

• Intel Corporation (U.S.)
• Twilio (U.S.)
• Qualcomm Technologies (U.S.)
• AT&T Inc (U.S.)
• Verizon Wireless (U.S.)
• Sierra Wireless (Canada)
• Rogers Communications (Canada)
• Vodafone Group (United Kingdom)
• SEQUANS Communications SA (France)
• Deutsche Telekom (Germany)
• Nokia Corporation (Finland)
• Ericsson Corporation (Sweden)
• Huawei Technologies Co., Ltd (China)
• Samsung Group (South Korea)
• MediaTek Inc. (Taiwan)
• u-blox Holding AG (Switzerland)
• China Unicom (China)
• China Telecom Corporation Limited (China)
• Etisalat Corporation (United Arab Emirates)
• Sony Semiconductor Israel Ltd. (Israel), and Other Major Players

Key Industry Development in The NB IoT Technology Market:

• In March 2023, Monogoto, a cloud-based cellular network provider, announced a new roaming agreement with Skylo Technologies, a Non-Terrestrial Network (NTN) service operator. This new partnership lowers developers' barriers to adding satellite connectivity to existing public and/or private networks on Monogoto Cloud, giving the world's most economical and accessible solution for NB-IoT Satellite connectivity for asset monitoring solutions. Also, SODAQ, a low-power tracking and sensing system developer, will unveil a new asset-tracking trial kit using a Monogoto connection and network.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. NB LOT TECHNOLOGY MARKET BY COMPONENT (2016-2030)
   1. NB LOT TECHNOLOGY MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. HARDWARE
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. SOFTWARE
   5. SERVICES
7. NB LOT TECHNOLOGY MARKET BY DEPLOYMENT (2016-2030)
   1. NB LOT TECHNOLOGY MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. STANDALONE
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. IN-BAND
   5. GUARD-BAND
8. NB LOT TECHNOLOGY MARKET BY APPLICATION (2016-2030)
   1. NB LOT TECHNOLOGY MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. SMART METERING
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. ASSET TRACKING
   5. ALARMS & EVENT DETECTORS
   6. SMART PARKING
   7. SMART BINS
   8. OTHERS
9. NB LOT TECHNOLOGY MARKET BY END-USER (2016-2030)
   1. NB LOT TECHNOLOGY MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. HEALTHCARE
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2016 – 2030F)
      3. Historic And Forecasted Market Size in Volume (2016 – 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. RETAIL
   5. ENERGY & UTILITIES
   6. TRANSPORTATION & LOGISTICS
   7. AGRICULTURE
   8. SMART CITIES
10. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
       1. Competitive Positioning
       2. NB loT Technology Market Share By Manufacturer (2022)
       3. Industry BCG Matrix
       4. Heat Map Analysis
       5. Mergers & Acquisitions
    2. INTEL CORPORATION (U.S.)
       1. Company Overview
       2. Key Executives
       3. Company Snapshot
       4. Role of the Company in the Market
       5. Sustainability and Social Responsibility
       6. Operating Business Segments
       7. Product Portfolio
       8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
       9. Key Strategic Moves And Recent Developments
       10. SWOT Analysis
    3. TWILIO (U.S.)
    4. QUALCOMM TECHNOLOGIES (U.S.)
    5. AT&T INC (U.S.)
    6. VERIZON WIRELESS (U.S.)
    7. SIERRA WIRELESS (CANADA)
    8. ROGERS COMMUNICATIONS (CANADA)
    9. VODAFONE GROUP (UNITED KINGDOM)
    10. SEQUANS COMMUNICATIONS SA (FRANCE)
    11. DEUTSCHE TELEKOM (GERMANY)
    12. NOKIA CORPORATION (FINLAND)
    13. ERICSSON CORPORATION (SWEDEN)
    14. HUAWEI TECHNOLOGIES CO., LTD (CHINA)
    15. SAMSUNG GROUP (SOUTH KOREA)
    16. MEDIATEK INC. (TAIWAN)
    17. U-BLOX HOLDING AG (SWITZERLAND)
    18. CHINA UNICOM (CHINA)
    19. CHINA TELECOM CORPORATION LIMITED (CHINA)
    20. ETISALAT CORPORATION (UNITED ARAB EMIRATES)
    21. SONY SEMICONDUCTOR ISRAEL LTD. (ISRAEL)
11. GLOBAL NB LOT TECHNOLOGY MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Component
       4. Historic And Forecasted Market Size By Deployment
       5. Historic And Forecasted Market Size By Application
       6. Historic And Forecasted Market Size By End-User
       7. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
12. INVESTMENT ANALYSIS
13. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies

LIST OF TABLES

TABLE 001. EXECUTIVE SUMMARY
TABLE 002. NB IOT TECHNOLOGY MARKET BARGAINING POWER OF SUPPLIERS
TABLE 003. NB IOT TECHNOLOGY MARKET BARGAINING POWER OF CUSTOMERS
TABLE 004. NB IOT TECHNOLOGY MARKET COMPETITIVE RIVALRY
TABLE 005. NB IOT TECHNOLOGY MARKET THREAT OF NEW ENTRANTS
TABLE 006. NB IOT TECHNOLOGY MARKET THREAT OF SUBSTITUTES
TABLE 007. NB IOT TECHNOLOGY MARKET BY TYPE
TABLE 008. 3G CELLULAR-BASED MARKET OVERVIEW (2016-2028)
TABLE 009. 4G CELLULAR-BASED MARKET OVERVIEW (2016-2028)
TABLE 010. 5G CELLULAR-BASED MARKET OVERVIEW (2016-2028)
TABLE 011. MARKET OVERVIEW (2016-2028)
TABLE 012. NB IOT TECHNOLOGY MARKET BY APPLICATION
TABLE 013. SMART PARKING MARKET OVERVIEW (2016-2028)
TABLE 014. UTILITIES MARKET OVERVIEW (2016-2028)
TABLE 015. WEARABLE MARKET OVERVIEW (2016-2028)
TABLE 016. INDUSTRIAL MARKET OVERVIEW (2016-2028)
TABLE 017. OTHERS MARKET OVERVIEW (2016-2028)
TABLE 018. NORTH AMERICA NB IOT TECHNOLOGY MARKET, BY TYPE (2016-2028)
TABLE 019. NORTH AMERICA NB IOT TECHNOLOGY MARKET, BY APPLICATION (2016-2028)
TABLE 020. N NB IOT TECHNOLOGY MARKET, BY COUNTRY (2016-2028)
TABLE 021. EUROPE NB IOT TECHNOLOGY MARKET, BY TYPE (2016-2028)
TABLE 022. EUROPE NB IOT TECHNOLOGY MARKET, BY APPLICATION (2016-2028)
TABLE 023. NB IOT TECHNOLOGY MARKET, BY COUNTRY (2016-2028)
TABLE 024. ASIA PACIFIC NB IOT TECHNOLOGY MARKET, BY TYPE (2016-2028)
TABLE 025. ASIA PACIFIC NB IOT TECHNOLOGY MARKET, BY APPLICATION (2016-2028)
TABLE 026. NB IOT TECHNOLOGY MARKET, BY COUNTRY (2016-2028)
TABLE 027. MIDDLE EAST & AFRICA NB IOT TECHNOLOGY MARKET, BY TYPE (2016-2028)
TABLE 028. MIDDLE EAST & AFRICA NB IOT TECHNOLOGY MARKET, BY APPLICATION (2016-2028)
TABLE 029. NB IOT TECHNOLOGY MARKET, BY COUNTRY (2016-2028)
TABLE 030. SOUTH AMERICA NB IOT TECHNOLOGY MARKET, BY TYPE (2016-2028)
TABLE 031. SOUTH AMERICA NB IOT TECHNOLOGY MARKET, BY APPLICATION (2016-2028)
TABLE 032. NB IOT TECHNOLOGY MARKET, BY COUNTRY (2016-2028)
TABLE 033. ROGERS: SNAPSHOT
TABLE 034. ROGERS: BUSINESS PERFORMANCE
TABLE 035. ROGERS: PRODUCT PORTFOLIO
TABLE 036. ROGERS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 036. DEUTSCHE TELEKOM: SNAPSHOT
TABLE 037. DEUTSCHE TELEKOM: BUSINESS PERFORMANCE
TABLE 038. DEUTSCHE TELEKOM: PRODUCT PORTFOLIO
TABLE 039. DEUTSCHE TELEKOM: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 039. NOKIA: SNAPSHOT
TABLE 040. NOKIA: BUSINESS PERFORMANCE
TABLE 041. NOKIA: PRODUCT PORTFOLIO
TABLE 042. NOKIA: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 042. HUAWEI: SNAPSHOT
TABLE 043. HUAWEI: BUSINESS PERFORMANCE
TABLE 044. HUAWEI: PRODUCT PORTFOLIO
TABLE 045. HUAWEI: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 045. ERICSSON: SNAPSHOT
TABLE 046. ERICSSON: BUSINESS PERFORMANCE
TABLE 047. ERICSSON: PRODUCT PORTFOLIO
TABLE 048. ERICSSON: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 048. ACCENT ADVANCED SYSTEMS: SNAPSHOT
TABLE 049. ACCENT ADVANCED SYSTEMS: BUSINESS PERFORMANCE
TABLE 050. ACCENT ADVANCED SYSTEMS: PRODUCT PORTFOLIO
TABLE 051. ACCENT ADVANCED SYSTEMS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 051. ARM: SNAPSHOT
TABLE 052. ARM: BUSINESS PERFORMANCE
TABLE 053. ARM: PRODUCT PORTFOLIO
TABLE 054. ARM: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 001. YEARS CONSIDERED FOR ANALYSIS
FIGURE 002. SCOPE OF THE STUDY
FIGURE 003. NB IOT TECHNOLOGY MARKET OVERVIEW BY REGIONS
FIGURE 004. PORTER'S FIVE FORCES ANALYSIS
FIGURE 005. BARGAINING POWER OF SUPPLIERS
FIGURE 006. COMPETITIVE RIVALRYFIGURE 007. THREAT OF NEW ENTRANTS
FIGURE 008. THREAT OF SUBSTITUTES
FIGURE 009. VALUE CHAIN ANALYSIS
FIGURE 010. PESTLE ANALYSIS
FIGURE 011. NB IOT TECHNOLOGY MARKET OVERVIEW BY TYPE
FIGURE 012. 3G CELLULAR-BASED MARKET OVERVIEW (2016-2028)
FIGURE 013. 4G CELLULAR-BASED MARKET OVERVIEW (2016-2028)
FIGURE 014. 5G CELLULAR-BASED MARKET OVERVIEW (2016-2028)
FIGURE 015. MARKET OVERVIEW (2016-2028)
FIGURE 016. NB IOT TECHNOLOGY MARKET OVERVIEW BY APPLICATION
FIGURE 017. SMART PARKING MARKET OVERVIEW (2016-2028)
FIGURE 018. UTILITIES MARKET OVERVIEW (2016-2028)
FIGURE 019. WEARABLE MARKET OVERVIEW (2016-2028)
FIGURE 020. INDUSTRIAL MARKET OVERVIEW (2016-2028)
FIGURE 021. OTHERS MARKET OVERVIEW (2016-2028)
FIGURE 022. NORTH AMERICA NB IOT TECHNOLOGY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 023. EUROPE NB IOT TECHNOLOGY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 024. ASIA PACIFIC NB IOT TECHNOLOGY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 025. MIDDLE EAST & AFRICA NB IOT TECHNOLOGY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 026. SOUTH AMERICA NB IOT TECHNOLOGY MARKET OVERVIEW BY COUNTRY (2016-2028)