Global Narrowband IoT Market: Snapshot Narrowband IoT offers advantages such as reduced cost and reduced power consumption for an increased coverage area which is primarily boosting the adoption of emerging narrowband IoT technology. Being a newly released cellular narrowband offering from 3 rd Generation Partnership Project, Narrowband IoT makes municipal applications such as street lighting, utility metering, toll road charges, and smart parking more efficient and effective. Narrowband IoT can be deployed across several frequency bands using a bandwidth of 200 kHz to provide better indoor coverage as compared to GSM. Some other advantages of narrowband IoT include battery life of more than 10 years, high level of security, and compatibility with existing cellular infrastructure and low cost device. As per estimates of a report by Transparency Market Research, the global narrowband IoT market will be valued at US$1052.69 mn by the end of 2025, expanding at a CAGR of 33.12% between 2017 and 2025. Get Sample Copy: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=13715 Economic Advantages of Smart Meters make it Leading Application Segment In terms of component, the narrowband IoT market is segmented into hardware, software, and services. The hardware segment is further sub-divided into module and others. Of them, the hardware segment accounts for a key share vis-Ă -vis revenue in the global narrowband IoT market. This is mainly because of the rising adoption of narrowband IoT technology across several industry verticals. However, services segment is anticipated to surpass in terms of growth rate over the forecast period. By application, the narrowband IoT market is segmented into smart metering, alarms and event detectors, smart bins, asset tracking, smart parking, and others. The segment of others comprise smart bicycles, smart agriculture, smart wearable, logistics and container tracking, smart kids monitoring solutions, engineering truck predictive maintenance solution, pollution monitoring etc. Amongst them, smart metering holds the leading share in the global narrowband IoT market. This is mainly because of rising adoption of smart meters as they offer a host of advantages. Smart meters, for instance, can reduce cost incurred due to changing meter batteries and manual meter reading. On the other hand, smart bins is anticipated to display the leading growth rate over the forecast period. Other application areas such as asset tracking and alarms and event detectors hold moderate shares as consumers are increasingly spending substantial amount on home automation systems for safety and security considerations. The segments of the narrowband IoT market based on end-use industry are healthcare, energy and utility, agriculture, retail, transportation and logistics, smart cities, and others. Grab an exclusive PDF Brochure of this report: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=13715 Europe Leading Regional Market due to Huge Investments for Development of Smart Infrastructure The report divides the global narrowband IoT market into the geographic regions of North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Europe is one of the key
contributor to the overall market as the region is home to some of the key industry players and early adoption of narrowband IoT technology in the region. Asia Pacific accounts for the second-leading market share in the global market for narrowband IoT. The regional market is expected to expand at a phenomenal 34.28% CAGR between 2017 and 2025. The growth of Asia Pacific market is mainly because of significant investments for development of smart cities. Request For Customization: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=13715 Key players operating in the global narrowband IoT market profiled in this report are Huawei Technologies Co. Ltd., Ericsson Corporation, Nokia Corporation, Quectel Wireless Solutions Co. Ltd., Sierra Wireless, Deutsche Telekom, China Unicom, Qualcomm Technologies Inc., Vodafone Group plc, u-blox, ZTWE Corporation, SEQUANS Communications SA, Intel Corporation, China Telecom, and Etisalat Corporation. Read Our Latest Press Release: https://www.prnewswire.com/news-releases/safety-and-security-are-two-major-points-of-focusfor-the-players-of-global-self-driving-car-market--transparency-market-research-301000238.html https://www.prnewswire.co.uk/news-releases/growing-safe-betting-campaigns-coupled-withdigital-advancements-to-push-sports-betting-market-to-exhibit-cagr-of-11-from-2019-to-2027finds-tmr-824526982.html About Us Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories. Contact Transparency Market Research State Tower, 90 State Street, Suite 700, Albany NY – 12207 United States USA – Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com