There is an Increasing Need Among Emerging Smart Cities and Smart Buildings to Adopt NB-IoT Solutions and Software to Meet the Qualities of Smart Applications Simultaneously Optimizing Resources
The emergence of cellular NB-IoT network has fundamentally changed the IoT landscape. NB-IoT technology are best suited for applications that need to send small amounts of data over a wider range and are cost-effective. These technologies can cover an entire nation, thus connecting everything from meters to utilities to wearables. Growing demand for Low-Power Wide Area Network (LPWAN) use cases across verticals, high deployment flexibility with GSM, WCDMA, or LTE, extended coverage, long battery life, and low deployment cost are some of the general driving factors for NB-IoT market. MarketsandMarkets expects the global NB-IoT market size to grow from USD 320.5 Million in 2017 to USD 8221.3 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 91.3% from 2017 to 2022.
Telecom companies such as Vodafone Group PLC and China Unicom have entered the market by launching trail versions for NB-IoT platform and have been successful in their strategy of launching solutions with NB-IoT. Partnerships and acquisitions is also one of the strategies followed by the key players.
Partnerships and new product launches are some of the strategies followed by the players to enter in this market. Vodafone Group PLC is one of the key players that adopted different strategies to grow in the market. It significantly stands as a business leader in the telecommunications domain which gives it a strong backing. Vodafone Group PLC adopted the strategy of new product launches. It launched its first ever narrowband Internet of things (NB-IoT) connection on a live mobile network. It will be launching its commercial services for NB-IoT in 2017 and is planning to launch NB-IoT networks in Australia, Ireland, the Netherlands, and Turkey.
Etisalat is second key player that followed the strategy of partnership with Huawei, a leading global Information and Communications Technology (ICT) solutions provider to form a trial of pre-NB-IoT smart parking in a live network in both Abu Dhabi and Dubai and which was very successful. It has its core competency in telecommunications and to enhance its projects in the new platform of NB-IoT and related services, the company collaborated with Oberthur Technologies (OT), a leading global provider of embedded security software products in February 2016. This collaboration enabled Etisalat to launch M2M and IoT services.
The key players are engaging in partnerships, acquisitions, and some new product launches to provide innovative offerings and increase profitability. Some of the companies that have engaged in partnerships and new product launches in the NB-IoT market are Vodafone Group PLC (London, U.K.), Etisalat (Abu Dhabi, UAE), China Mobile (China), China Unicom (Beijing, China), AT&T(Texas, U.S.), Orange S.A. (Paris, France), and SK Telecom (Seoul, South Korea).
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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
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