HOME Top Market Reports Narrowband IoT (NB-IoT) Enterprise Application Market by Application Software, Technology Service, Vertical, Smart Application (Smart Governance, Smart Metering, Smart Homes, Smart Asset Tracking), and Region- Global Forecast to 2022

Narrowband IoT (NB-IoT) Enterprise Application Market by Application Software, Technology Service, Vertical, Smart Application (Smart Governance, Smart Metering, Smart Homes, Smart Asset Tracking), and Region- Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: November 2016
Report Code: TC 4752

 

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The Narrow Band IoT (NB-IoT) enterprise application market size is expected to grow from USD 320.5 Million in 2017 to USD 8,221.3 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 91.3% from 2017 to 2022. The market does not have any base year or historical year, but has an estimated year as 2017 and forecast year as 2022.

The NB–IoT enterprise application report aims at estimating the market size and future growth potential of the market across different segments, such as application software, technology services, smart applications, verticals, and regions. The primary objectives of the report includes providing a detailed analysis of the major factors influencing the growth of this market (drivers, restraints, opportunities, industry specific challenges, and burning issues) and analyzing the opportunities in the market for stakeholders and details of a competitive landscape for market leaders.

The research methodology used to estimate and forecast the NB–IoT enterprise application market begins with capturing data on key vendor revenues through secondary sources such as annual reports, press releases, associations such as The Alliance for Telecommunications Industry Solutions, U.S. (ATIS), and databases such as Factiva and Bloomberg BusinessWeek, company websites, and news articles. The vendor offerings are also taken into consideration to determine market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the NB–IoT enterprise application market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key industry personnel, such as CEOs, VPs, Directors, and Executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primary discussion participants is depicted in the below figure:

Narrowband IoT (NB-IoT) Enterprise Application Market

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The NB–IoT enterprise application market comprises companies such as Vodafone Group Plc (London, U.K.), China Mobile (Beijing, China), China Telecom (Beijing, China), AT&T (Texas, U.S.), Etisalat (Abu Dhabi, UAE), Telstra (Melbourne, Australia), Orange S.A. (Paris, France), Telefonica (Madrid, Spain), SK Telecom (Seoul, South Korea), and Deutsche Telekom (Bonn, Germany). Further, the solutions developed by these companies are used by energy & utilities, retail, healthcare, aviation, industrial manufacturing, and transportation & logistics sectors.

Key Target Audience

  • LPWAN Solution Providers
  • Mobile Network Operators (MNOs)
  • Mobile Service Providers
  • Original Equipment Manufacturers (OEMs)
  • Solution Providers
  • System Integrators
  • Government Organizations
  • Investors and Venture Capitalists

Scope of the Report

The research report categorizes the NB–IoT enterprise application market to forecast the revenues and analyze the trends in each of the following subsegments:

By Application Software

  • Security solutions
  • Real-time streaming analytics
  • Soil monitoring solutions
  • Asset tracking solutions
  • Logistics tracking solutions
  • Smart parking management solutions
  • Others

By Technology Service

  • Managed
  • Professional

By Vertical

  • Agriculture
  • Logistics and transportation
  • Healthcare
  • Manufacturing
  • Energy and utilities
  • Retail
  • Others

By Smart Application

  • Smart governance
  • Smart metering
  • Smart buildings
  • Smart asset tracking
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Middle East and Africa (MEA)
  • Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customization as per the company’s specific requirements. The following customization options are available for the report:

Geographic Analysis

  • Further breakdown of the North American NB–IoT enterprise application market
  • Further breakdown of the European market
  • Further breakdown of the APAC market
  • Further breakdown of the MEA market
  • Further breakdown of the Latin American market

Company Information

  • Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
           1.3.3 Currency
    1.4 Limitations
    1.5 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Introduction
    2.2 Research Data
           2.2.1 Secondary Data
                    2.2.1.1 Key Data From Secondary Sources
           2.2.2 Primary Data
                    2.2.2.1 Key Data From Primary Sources
                    2.2.2.2 Key Industry Insights
                    2.2.2.3 Breakdown of Primary Interviews
    2.3 Market Size Estimation
           2.3.1 Bottom-Up Approach
           2.3.2 Top-Down Approach
    2.4 Market Breakdown and Data Triangulation
    2.5 Market Forecast Assumptions

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 31)
    4.1 Attractive Market Opportunities in the NB–IoT Enterprise Application Market
    4.2 Narrowband-IoT Enterprise Application Market: By Smart Application, 2017–2022
    4.3 Global Narrowband-IoT Enterprise Application Market: By Smart Application and By Region
    4.4 Life Cycle Analysis, By Region (2017)

5 NB–IoT Enterprise Application Market Overview (Page No. - 34)
    5.1 Introduction
    5.2 Evolution
    5.3 Market Segmentation
           5.3.1 By Application Software
           5.3.2 By Technology Service
           5.3.3 By Application
           5.3.4 By Vertical
           5.3.5 By Region
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Growing Demand for LPWAN Use Cases Across Verticals
                    5.4.1.2 High Deployment Flexibility With Gsm, Wcdma, Or Lte
                    5.4.1.3 Extended Coverage and Long Battery Life
                    5.4.1.4 Low Deployment Cost
           5.4.2 Restraints
                    5.4.2.1 Transformation Downtime During Up Gradation of Existing Base Stations
                    5.4.2.2 Competition From Rival LPWAN Technologies
           5.4.3 Opportunities
                    5.4.3.1 Rising Need for Connectivity in IoT Applications
                    5.4.3.2 Emerging Smart Cities and Smart Buildings
                    5.4.3.3 Deployment of Intelligent Devices
           5.4.4 Challenges
                    5.4.4.1 Deployment Issues and Less Roaming Support
                    5.4.4.2 Uncertainty in Pricing Model

6 NB–IoT Enterprise Application Market: Industry Trends (Page No. - 43)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Strategic Benchmarking
    6.4 Ecosystem

7 NB–IoT Enterprise Application Market Analysis, By Application Software (Page No. - 46)
    7.1 Introduction
    7.2 By Application Software
           7.2.1 Security Solutions
           7.2.2 Real Time Streaming Analytics
           7.2.3 Soil Monitoring Solutions
           7.2.4 Asset Tracking Solutions
           7.2.5 Logistics Tracking Solutions
           7.2.6 Smart Parking Management Solutions
           7.2.7 Others

8 NB–IoT Enterprise Application Market Analysis, By Technology Services (Page No. - 54)
    8.1 Introduction
           8.1.1 Professional Services
           8.1.2 Managed Services

9 NB–IoT Enterprise Application Market Analysis, By Vertical (Page No. - 58)
    9.1 Introduction
    9.2 Agriculture
    9.3 Logistics and Transportation
    9.4 Healthcare
    9.5 Industrial Manufacturing
    9.6 Energy and Utilities
    9.7 Retail
    9.8 Others

10 NB–IoT Enterprise Application Market Analysis, By Smart Applications (Page No. - 66)
     10.1 Introduction
     10.2 Smart Governance
             10.2.1 Smart Lighting
             10.2.2 Smart Parking
             10.2.3 Smart Waste Management
             10.2.4 Smart Traffic Management
     10.3 Smart Metering
             10.3.1 Smart Electric
             10.3.2 Smart Gas
             10.3.3 Smart Water
     10.4 Smart Buildings
             10.4.1 Smart Homes
             10.4.2 Smart Offices
     10.5 Smart Asset Tracking
     10.6 Others

11 Geographic Analysis (Page No. - 79)
     11.1 Introduction
     11.2 North America
     11.3 Europe
     11.4 Asia-Pacific
     11.5 Middle East and Africa
     11.6 Latin America

12 Competitive Landscape (Page No. - 104)
     12.1 Overview
     12.2 Competitive Situations and Trends
     12.3 Partnerships, Agreements, and Collaborations
     12.4 New Services Launches

13 Company Profiles (Page No. - 107)
     13.1 Introduction
(Overview, Financials, Products & Services, Strategy, and Developments)*
     13.2 AT&T, Inc.
     13.3 China Mobile Limited
     13.4 Orange S.A
     13.5 SK Telecom Co., Ltd.
     13.6 Vodafone Group PLC
     13.7 China Unicom
     13.8 Deutsche Telekom AG
     13.9 Etisalat
     13.10 Telefonica SA
     13.11 Telstra Corporation Limited

*Details on Overview, Financials, Product & Services, Strategy, and Developments Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 128)
     14.1 Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Introducing RT: Real-Time Market Intelligence
     14.5 Available Customizations
     14.6 Related Reports


List of Tables (88 Tables)

Table 1 NB–IoT Enterprise Application Market Size, By Smart Application, 2017–2022 (USD Million)
Table 2 Smart Applications Market Size, By Smart Metering, 2017–2022 (USD Million)
Table 3 Narrowband-IoT Enterprise Application Market Size, By Technology Service, 2017–2022 (USD Million)
Table 4 Narrowband-IoT Enterprise Application Market Size, By Vertical, 2017–2022 (USD Million)
Table 5 Global Norrowband-IoT Enterprise Application Market Size, 2017-2022 (USD Million)
Table 6 Norrowband -IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 7 NB–IoT Enterprise Application Market Size, By Application Software, 2017-2022 (USD Million)
Table 8 Security Solutions: Norrowband -IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 9 Real Time Streaming Analytics: Norrowband -IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 10 Soil Monitoring Solutions: Norrowband -IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 11 Asset Tracking Solutions: Norrowband -IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 12 Logistics Tracking Solutions: Norrowband -IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 13 Smart Parking Management Solutions: Norrowband-IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 14 Others Norrowband-IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 15 Norrowband-IoT Enterprise Application Market Size, By Technology Services, 2017-2022 (USD Million)
Table 16 Professional Services: NB–IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 17 Managed Services: Norrowband-IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 18 Global Norrowband -IoT Enterprise Application Market Size, By Vertical, 2017-2022 (USD Million)
Table 19 Agriculture: Norrowband-IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 20 Logistics and Transportation: Norrowband-IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 21 Healthcare: NB–IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 22 Industrial Manufacturing: Norrowband-IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 23 Energy and Utilities: Norrowband-IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 24 Retail: Norrowband-IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 25 Others: Norrowband-IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 26 Global Norrowband-IoT Enterprise Application Market Size, By Smart Applications, 2017-2022 (USD Million)
Table 27 Smart Governance: NB–IoT Enterprise Application Market Size, By Type, 2017-2022 (USD Million)
Table 28 Smart Lighting Market Size, By Region, 2017-2022 (USD Million)
Table 29 Smart Parking Market Size, By Region, 2017-2022 (USD Million)
Table 30 Smart Waste Management Market Size, By Region, 2017-2022 (USD Million)
Table 31 Smart Traffic Management Market Size, By Region, 2017-2022 (USD Million)
Table 32 Smart Metering: Norrowband-IoT Enterprise Application Market Size, By Type 2017-2022 (USD Million)
Table 33 Smart Electric Market Size, By Region, 2017-2022 (USD Million)
Table 34 Smart Gas Market Size, By Region, 2017-2022 (USD Million)
Table 35 Smart Water Market Size, By Region, 2017-2022 (USD Million)
Table 36 Smart Buildings: Global NB-IoT Enterprise Application Market Size, By Types, 2017-2022 (USD Million)
Table 37 Smart Homes Market Size, By Region, 2017-2022 (USD Million)
Table 38 Smart Offices Market Size, By Region, 2017-2022 (USD Million)
Table 39 Smart Asset Tracking: Global NB- Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 40 Others: Global NB–IoT Enterprise Application Market Size, By Region, 2017-2022 (USD Million)
Table 41 NB-IoT Enterprise Application Market, By Region, 2017–2022 (USD Billion)
Table 42 North America: Narrowband-IoT Enterprise Application Market Size, By Application Solutions, 2017–2022 (USD Million)
Table 43 North America: Narrowband-IoT Enterprise Application Market Size, By Technology Service, 2017–2022 (USD Million)
Table 44 North America: Narrowband-IoT Enterprise Application Market Size, By Vertical, 2017–2022 (USD Million)
Table 45 North America: Narrowband-IoT Enterprise Application Market Size, By Smart Application, 2017–2022 (USD Million)
Table 46 North America: Narrowband-IoT Enterprise Application Market Size, By Smart Governance 2017–2022 (USD Million)
Table 47 North America: Narrowband-IoT Enterprise Application Market Size, By Smart Metering, 2017–2022 (USD Million)
Table 48 North America: Narrowband-IoT Enterprise Application Market Size, By Smart Buildings, 2017–2022 (USD Million)
Table 49 Europe: NB–IoT Enterprise Application Market Size, By Application Solution, 2017–2022 (USD Million)
Table 50 Europe: Narrowband-IoT Enterprise Application Market Size, By Technology Services, 2017–2022 (USD Million)
Table 51 Europe: Narrowband-IoT Enterprise Application Market Size, By Verticals, 2017–2022 (USD Million)
Table 52 Europe: Narrowband-IoT Enterprise Application Market Size, By Smart Application, 2017–2022 (USD Million)
Table 53 Europe: Narrowband-IoT Enterprise Application Market Size, By Smart Governance, 2017–2022 (USD Million)
Table 54 Europe: Narrowband-IoT Enterprise Application Market Size, By Smart Metering, 2017–2022 (USD Million)
Table 55 Europe: Narrowband-IoT Enterprise Application Market Size, By Smart Building, 2017–2022 (USD Million)
Table 56 Asia-Pacific: Narrowband-IoT Enterprise Application Market Size, By Application Software, 2017–2022 (USD Million)
Table 57 Asia-Pacific: NB–IoT Enterprise Application Market Size, By Technology Services, 2017–2022 (USD Million)
Table 58 Asia-Pacific: Narrowband-IoT Enterprise Application Market Size, By Verticals, 2017–2022 (USD Million)
Table 59 Asia-Pacific: Narrowband-IoT Enterprise Application Market Size, By Smart Application, 2017–2022 (USD Million)
Table 60 Asia-Pacific: Narrowband-IoT Enterprise Application Market Size, By Smart Governance, 2017–2022 (USD Million)
Table 61 Asia-Pacific: Narrowband-IoT Enterprise Application Market Size, By Smart Metering, 2017–2022 (USD Million)
Table 62 Asia-Pacific: Narrowband-IoT Enterprise Application Market Size, By Smart Buildings, 2017–2022 (USD Million)
Table 63 Middle East and Africa: Narrowband-IoT Enterprise Application Market Size, By Application Software, 2017–2022 (USD Million)
Table 64 Middle East and Africa: Narrowband-IoT Enterprise Application Market Size, By Technology Services, 2017–2022 (USD Million)
Table 65 Middle East and Africa: Narrowband-IoT Enterprise Application Market Size, By Verticals, 2017–2022 (USD Million)
Table 66 Middle East and Africa: NB–IoT Enterprise Application Market Size, By Smart Application, 2017–2022 (USD Million)
Table 67 Middle East and Africa: Narrowband-IoT Enterprise Application Market Size, By Smart Governance, 2017–2022 (USD Million)
Table 68 Middle East and Africa: Narrowband-IoT Enterprise Application Market Size, By Smart Metering, 2017–2022 (USD Million)
Table 69 Middle East and Africa: Narrowband-IoT Enterprise Application Market Size, By Smart Building, 2017–2022 (USD Million)
Table 70 Latin America: Narrowband-IoT Enterprise Application Market Size, By Application Software, 2017–2022 (USD Million)
Table 71 Latin America: Narrowband-IoT Enterprise Application Market Size, By Technology Service, 2017–2022 (USD Million)
Table 72 Latin America: Narrowband-IoT Enterprise Application Market Size, By Vertical, 2017–2022 (USD Million)
Table 73 Latin America: Narrowband-IoT Enterprise Application Market Size, By Smart Application, 2017–2022 (USD Million)
Table 74 Latin America: NB–IoT Enterprise Application Market Size, By Smart Governance, 2017–2022 (USD Million)
Table 75 Latin America: Narrowband-IoT Enterprise Application Market Size, By Smart Metering, 2017–2022 (USD Million)
Table 76 Latin America: NB–IoT Enterprise Application Market Size, By Smart Building, 2017–2022 (USD Million)
Table 77 Partnerships, Agreements, and Collaborations, 2015–2016
Table 78 New Services Launches, 2015–2016
Table 79 Recent Developments and Announcements
Table 80 Recent Developments
Table 81 Recent Developments
Table 82 Recent Developments
Table 83 Recent Developments
Table 84 Recent Developments
Table 85 Recent Developments
Table 86 Recent Developments
Table 87 Recent Developments
Table 88 Recent Developments


List of Figures (59 Figures)

Figure 1 NB–IoT Enterprise Application Market : Research Design
Figure 2 Breakdown of Primary Interview: By Company, Designation, and Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Narrowband-IoT Enterprise Application Market Snapshot, By Smart Application, 2017 vs 2022
Figure 7 Smart Applications Snapshot, By Smart Metering, 2017 vs 2022
Figure 8 Narrowband-IoT Enterprise Application Market Snapshot, By Technology Service, 2017 vs 2022
Figure 9 NB–IoT Enterprise Application Market Snapshot, By Vertical, 2017 vs 2022
Figure 10 Asia-Pacific is Expected to Hold the Largest Market Share in the Global Narrowband-IoT Enterprise Application Market, 2017
Figure 11 Recent Developments in the Narrowband-IoT Enterprise Application Market Snapshot (June 2016)
Figure 12 Growing Demand for LPWAN Use Cases Across Verticals is Boosting the Narrowband-IoT Enterprise Application Market
Figure 13 Smart Metering Segment is Expected to Contribute the Largest Market Share Among the Smart Applications
Figure 14 Smart Metering and Asia-Pacific Accounted for the Largest Shares in the Narrowband-IoT Enterprise Application Market
Figure 15 Asia-Pacific is Expected to Lead in the Narrowband-IoT Enterprise Application Market
Figure 16 NB–IoT Enterprise Application Market Segmentation
Figure 17 Narrowband - IoT Enterprise Application Market Segmentation: By Application Software
Figure 18 Narrowband-IoT Enterprise Application Market Segmentation: By Technology Service
Figure 19 Narrowband - IoT Enterprise Application Market Segmentation: By Smart Application
Figure 20 Narrowband - IoT Enterprise Application Market Segmentation: By Vertical
Figure 21 Narrowband - IoT Enterprise Application Market Segmentation: By Region
Figure 22 Narrowband - IoT Enterprise Application Market: Drivers, Restraints, Opportunities, and Challenges
Figure 23 Narrowband-IoT Enterprise Application Market: Value Chain Analysis
Figure 24 Strategic Benchmarking: Partnership, Collaboration, and Agreement is the Key Growth Strategy Adopted By Market Players
Figure 25 NB–IoT Enterprise Application Market : Ecosystem
Figure 26 Real Time Streaming Analytics is Expected to Grow at the Highest Growth Rate in the Narrow Band-IoT Application Enterprise Market
Figure 27 Managed Services is Expected to Grow at the Highest Growth Rate in the Narrow Band-IoT Enterprise Application Market
Figure 28 Energy and Utilities Vertical is Expected to Grow at the Highest Growth Rate in the Narrow Band-IoT Enterprise Application Market
Figure 29 Smart Asset Tracking is Expected to Grow at the Highest Growth Rate in the Narrow Band-IoT Enterprise Application Market
Figure 30 Smart Lighting is Expected to Grow at the Highest Growth Rate in the Narrow Band-IoT Enterprise Application Market in Smart Governance Segment
Figure 31 Smart Water is Expected to Grow at the Highest Growth Rate in the Narrow Band-IoT Enterprise Application Market
Figure 32 Smart Offices/Commercial Places is Expected to Grow at the Highest Growth Rate in the Narrow Band-IoT Enterprise Application Market in Smart Building Segment
Figure 33 NB - IoT Enterprise Application: Region Wise Adoption Scenario
Figure 34 The Market in Asia-Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 35 North America: Connectivity Segment is Expected to Have the Largest Market Size During the Forecast Period (2017 - 2022)
Figure 36 Europe: Market Snapshot
Figure 37 Europe: Connectivity Segment is Expected to Have the Largest Market Size During the Forecast Period
Figure 38 Asia-Pacific: Market Snapshot
Figure 39 APAC: Connectivity Segment is Expected to Have the Largest Market Size During the Forecast Period
Figure 40 Middle East and Africa: Connectivity Segment is Expected to Have the Largest Market Size During the Forecast Period
Figure 41 Latin America: Connectivity Segment is Expected to Have the Largest Market Size During the Forecast Period
Figure 42 Companies Adopted the Strategy of Partnership, Agreement, and Collaboration as the Key Growth Strategy From 2015 to 2016
Figure 43 Battle for Market Share: Partnership, Agreement, and Collaboration Was the Key Strategy Adopted By Players in the Narrowband-IoT Market During 2015–2016
Figure 44 Geographic Revenue Mix of Top 5 Market Players
Figure 45 AT&T, Inc.: Company Snapshot
Figure 46 AT&T, Inc.: SWOT Analysis
Figure 47 China Mobile Limited: Company Snapshot
Figure 48 China Mobile Limited: SWOT Analysis
Figure 49 Orange S.A: Company Snapshot
Figure 50 Orange S.A.: SWOT Analysis
Figure 51 SK Telecom Co., Ltd: Company Snapshot
Figure 52 SK Telecom Co., Ltd.: SWOT Analysis
Figure 53 Vodafone Group PLC: Company Snapshot
Figure 54 Vodafone Group PLC: SWOT Analysis
Figure 55 China Unicom: Company Snapshot
Figure 56 Deutsche Telekom AG: Company Snapshot
Figure 57 Etisalat: Company Snapshot
Figure 58 Telefonica SA: Company Snapshot
Figure 59 Telstra Corporation Limited: Company Snapshot

MarketsandMarkets forecasts the global NB–IoT enterprise application market size to grow from USD 320.5 Million in 2017 to USD 8,221.3 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 91.3% from 2017 to 2022. Growing demand for Low-Power Wide Area Network (LPWAN) use cases across verticals, high deployment flexibility with GSM, WCDMA, or LTE, extended coverage and long battery life, low deployment cost are some of the general driving factors for the NB-IoT enterprise application market.

The NB–IoT enterprise application market is broadly classified by vertical into agriculture, manufacturing, healthcare, energy & utilities, transport & logistics, retail, and others. The energy and utilities sector holds the major market share and is the fastest growing vertical in this market as it is considered an important element in the day to day means and use. Energy resources needed to be utilized in an optimized manner as its scarcity will not only affect the present but also the future.

Smart parking management solution is expected to dominate the application software segment in the NB-IoT enterprise application market as the numbers of vehicles are increasing day by day. Smart parking would help the management of vehicles, utilizing the parking space in an optimized way with the help of NB-IoT application software.

Professional services are expected to lead the market and managed services is expected to carry the highest CAGR in the services segment as these services assist companies in developing strong strategies and provide resources that allow them to manage the technology at a lower cost. Until recently, a majority of managed services have been adopted for very specific needs, but more competitors are ramping up to offer enterprise service models.

Smart metering will be leading the market and asset tracking is expected to be the fastest growing market in the NB-IoT smart application market as wireless asset tracking, sensing, and control of products would provide a round-the-clock visibility concerning the whereabouts and state of assets in the supply chain. Its mapping abilities with custom data cover the visualization of the real-time state and location as well as the status history of any asset being tracked. Asset tracking helps the owners to sense and take preventive actions against unexpected events such as theft/loss of pets or livestock or kids. The NB-IoT enterprise application market is segmented across five regions, namely, North America, Asia-Pacific (APAC), Europe, the Middle East and Africa (MEA), and Latin America. APAC is expected to account for the largest share of the overall NB–IoT enterprise application market at highest CAGR during the forecast period. This region will see a huge number of smart cities growing, which will be implementing a lot of smart application, and other advanced software, which is most likely to use NB-IoT applications and software.

Narrowband IoT (NB-IoT) Enterprise Application Market

Large technology deployments invoke system downtime, where IT systems and support have to be switched off and become unavailable for operations, and competition from rival LPWAN technologies are major restraining factor in this market. However, rising need of connectivity in IoT applications, emerging smart cities, and smart buildings and deployment of intelligent devices are expected to provide significant growth opportunities in the future. Some of the major technology vendors are Vodafone Group PLC (London, U.K.), China Mobile (China), China Unicom (Beijing, China), AT&T (Texas, U.S.), , SK Telecom (Seoul, South Korea), and Etisalat (Abu Dhabi, UAE), Telstra, (Melbourne, Australia), Orange S.A. (Paris, France), Telefonica (Madrid, Spain), and Deutsche Telekom (Bonn, Germany). These companies have just entered into the launching of NB-IoT solutions on trial basis and have also entered into some of the collaborations in order to launch a NB-IoT application.

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