NB-IoT is expected to be one of the most efficient connectivity technologies for real-time data transfer as it consumes less power and covers a wider area than existing LPWA technologies, such as LoRa and Sigfox. The NB-IoT chipset market is projected to reach USD 2,484 million by 2025 from USD 461 million in 2020 at a CAGR of 40.0%. Increasing demand for wearable devices due to COVID-19 outbreak, growing adoption of IoT and rise in the use of connected devices, and increasing demand for low-power, low-cost, and long-range connectivity are the key drivers for the growth of this market. Emerging smart city initiatives and smart buildings across the world pose a huge growth opportunity for companies involved in this market.
The NB-IoT chipset market is highly competitive with the growing presence of multinational, domestic, and start-up companies. Product developments and launches have been the key strategies adopted by industry players to grow in the NB-IoT chipset market. Companies such as Qualcomm, Nordic Semiconductor, Huawei, Riot Micro, MediaTek, Samsung Electronics, and Commsolid adopted these strategies to develop their NB-IoT chipset business. Besides organic growth strategies, companies have adopted strategies such as collaborations, partnerships, and agreement in the NB-IoT chipset market. Major IT giants such as Huawei, Nordic Semiconductor, Intel, and MediaTek follow these strategies.
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Top 2 Players in the NB-IoT Chipset Market:
Huawei (China) is among the frontrunners in the NB-IoT chipset market owing to early development and deployment of NB-IoT chipsets, especially by forming partnerships and collaborations with domestic service providers, specifically in the metering and parking applications. The company has R&D centers in 21 countries, including China, the US, Canada, the UK, India, Russia, and Turkey. It is currently emphasizing on improving its geographic footprint in the NB-IoT market by partnering with regional players. For instance, in May 2018, MTN SA successfully deployed Huawei’s CloudAIR 2.0 solution to share spectrum between 2G, 3G, 4G, and NB-IoT radio technologies in the 900 MHz band. This development enables MTN SA to make more efficient use of its limited 900 MHz spectrum allocation and achieve a 45% increase in LTE throughput within the band.
Qualcomm (US) is among the key players operating in the NB-IoT chipset market. Its expertise in cellular modem development, along with the global presence, differentiates Qualcomm from other players. The company offers 3 modems in NB-IoT chipset space—MDM9206, 9205 LTE, and MDM 9207-1. Moreover, its Snapdragon 1200 Wearable Platform is one of the most sophisticated and exclusive platforms developed for the development of NB-IoT solutions for wearables. Strong reliance on organic growth as well as partnerships and collaborations with regional players remain the key growth strategies for the company to strengthen its position in the NB-IoT chipset market. In June 2018, Qualcomm Technologies and Gizwits (China) announced their intention to create the world’s first commercial 2G cellular modules with field upgrades to LTE IoT (eMTC/Cat-M1 and NB-IoT/Cat-NB1).
Narrowband IoT (NB-IoT) Chipset Market with COVID-19 impact, by Device (Smart Meters, Smart Parking), Deployment (Guard, In-Band, Stand-Alone), Vertical (Energy & Utilities, Infrastructure, Building Automation), and Region - Global Forecast to 2025
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