Global Private Narrowband IoT Market Research Report- Forecast till 2025
The global private narrowband- Internet of Things (NB-IoT) Market is anticipated to register a steady expansion at a CAGR of 92.1% during the study period. The market is expecting excellent advancements due to the rising demand for a low-power wide-area network (LPWAN) globally. The private NB-IoT numerous advantages such as low deployment cost and long battery life because of which it is preferred in several applications containing industrial manufacturing, logistics and transportation, energy & utilities, agriculture, and healthcare among others. These factors are becoming prime growth driving factors of the global market. However, private NB-IoT technology is being introduced recently for economic intentions; it offers comprehensive coverage and higher security over its substitutes.
There are four key participants in the supply chain of private narrowband IoT namely, component manufacturers, telecom operators (MNOs and MVNOs), system integrators, and verticals. To trade effectively the manufacturers frequently partner with other stakeholders. They build and maintain secure relationships with local resellers or suppliers so that they can raise their occupancy in the specific area. The global NB-IoT market is projected to witness moderate to high rivalry according to Porter’s five forces analysis. The telecom industries are serving efficient private NB-IoT services to enterprises as a key factor for market growth.
Geographically the global nb-IoT market is segmented by application, deployment, vertical, and region. Based on application the market is categorized as real-time streaming analytics, asset tracking, smart parking management, security, logistics tracking, soil monitoring, and others.
By deployment segment, the market is divided into in-band, standalone, and guard band. Based on vertical the market is categorized into agriculture, logistics and transportation, healthcare, industrial manufacturing, energy and utilities, and others. By region, the market spans across Asia-pacific, North America, Europe, and the Middle East & Africa, and South America.
The global private narrowband IoT market spans across into Asia-Pacific, North America, Europe, and the Middle East & Africa, and South America.
North America leads the global private NB IoT market due to the presence of various leading device manufacturers and network service providers focusing on testing and economical deployment of private narrowband IoT solutions for consumer applications. These vendors are looking forward to establishing innovative modules and deployment of private NB-IoT networks to expand the coverage and scope of the commercial applications. Furthermore, the global NB-IoT market in North- America is driven by the rising tech-savvy population and continued adoption of emerging technologies for personal and business applications.
Currently, China, Taiwan, Hong Kong, Singapore, Thailand, Bangladesh, Sri Lanka, Japan, South Korea, New Zealand, Indonesia, and Australia are deploying NB-IoT services. The region has a magnificent potential as NB-IoT as it uses the mobile wireless network which offers better scalability, quality of service, and security as compared to unlicensed LPWA networks such as LoRa/Sigfox and long battery life.
The Key Players of the Global Private Narrowband IoT Market are AT&T, Verizon Communications, China Mobile Limited, Huawei technologies co. Ltd., Intel Corporation, Telefonica, Vodafone Group Plc., Orange, China Unicom, Telstra, Nokia, Ericsson, Qualcomm Technologies Inc, Telecom Italia, Emirates Telecommunications Corporation.
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