Narrowband IoT Chipset Market was valued at USD XX Billion in 2022 and is projected to reach USD XX Billion by 2030, growing at a CAGR of XX% from 2024 to 2031.
Narrowband IoT Chipset Market Future Scope
The Narrowband IoT Chipset Market was valued at approximately USD 2.4 billion in 2022, with a compound annual growth rate (CAGR) of around 26.4% from 2023 to 2030. This substantial growth is fueled by the increasing demand for connected devices and low-power wide-area (LPWA) network technologies, which offer greater efficiency in terms of cost and energy consumption. Furthermore, the adoption of smart city applications, industrial automation, and healthcare monitoring systems is expected to contribute significantly to market expansion. The Narrowband IoT Chipset Market is anticipated to grow rapidly due to the rising trend of IoT adoption in various sectors, including agriculture, logistics, and utilities, where efficient communication over long distances with low power consumption is crucial.
Looking ahead, the future scope of the Narrowband IoT Chipset Market is highly promising, with the market projected to reach approximately USD 16.4 billion by 2030. The widespread integration of Narrowband IoT solutions in smart devices, including wearables, smart meters, and autonomous vehicles, will continue to drive the demand for NB-IoT chipsets. The growing need for low-latency and high-reliability networks in remote monitoring applications is anticipated to further propel the market’s growth. As NB-IoT continues to evolve with advancements in connectivity and energy efficiency, its penetration in emerging markets such as Asia-Pacific and Latin America is expected to surge, resulting in a broader global footprint for the Narrowband IoT Chipset Market in the coming years.
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Who are the largest Global manufacturers in the Narrowband IoT Chipset Market?
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Segmentation of Narrowband IoT Chipset Market-
Narrowband IoT Chipset Market, By Deployment
• Stand-Alone
• Guard Band
• In-Band
Narrowband IoT Chipset Market, By Device
• Smart Streetlights
• Smart Appliances
• Wearable Devices
• Other
Narrowband IoT Chipset Market, By Vertical
• Agriculture
• Automotive and Transportation
• Energy and Utilities
• Healthcare
• Others
Which regions are leading the Global Narrowband IoT Chipset Market?
- Global (United States, Global and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
- South America (Brazil, Argentina, Columbia, etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Detailed TOC of Global Narrowband IoT Chipset Market Research Report, 2024-2031
1. Introduction of the Global Narrowband IoT Chipset Market
- Overview of the Market
- Scope of Report
- Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Research
- Data Mining
- Validation
- Primary Interviews
- List of Data Sources
4. Global Narrowband IoT Chipset Market Outlook
- Overview
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Porters Five Force Model
- Value Chain Analysis
5. Global Narrowband IoT Chipset Market, By Type
6. Global Narrowband IoT Chipset Market, By Application
7. Global Narrowband IoT Chipset Market, By Geography
- Global
- Europe
- Asia Pacific
- Rest of the World
8. Global Narrowband IoT Chipset Market Competitive Landscape
- Overview
- Company Market Ranking
- Key Development Strategies
9. Company Profiles
10. Appendix
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