The U.S. holds the largest share in the narrowband IoT chipset market in the recent years owing to the presence of major players operating in the industry. Increasing research & development activities are taking place in the country for developing efficient devices, products, and solutions based on the narrowband IoT technology. Asia Pacific is expected to witness high growth opportunities in the narrowband IoT chipset market due to the increasing investments in smart city and infrastructure development projects. Japan and China are heavily investing and adopting these technologies owing to the growth of IoT device manufacturing companies.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Vodafone Group PLC
- Verizon Communications
- Huawei Technologies Co., Ltd.
- Qualcomm, Inc.
- Intel Corporation
- Nokia Corporation
- Samsung Electronics
- China Telecommunication Corporation
- Deutsche Telecom AG
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The implementation of this technology in the construction of smart airports is propelling the narrowband IoT chipset market growth. For instance, Huawei, Q-Loud, and Telefonica have launched smart meters based on the narrowband IoT technology for the Munich airport. The technology is used to efficiently convert analog systems into digital software solutions. These systems include specialized cameras that record and convert meter readings through narrowband technology, driving the narrowband IoT chipset market growth.
The Narrowband Internet-of-Things (IoT) Chipset Market is hindered by the privacy and security issues occurring in the devices that incorporate them. Data transmission performed through these devices face privacy challenges owing to the loss of personal and essential data of users, resulting in data breaches and cyber concerns. Another challenge restraining the narrowband IoT chipset market is the slow data transmission speed provided by the chips. Devices perform a steady transfer of data and information due to the massive data amounts, resulting in the low performance of the connected devices. The issue can be overcome by developing efficient chipsets capable of managing and transferring large data amounts with high speed.
The healthcare segment is expected to witness major growth opportunities in the narrowband IoT chipset market. The demand is attributed to its usage in the healthcare monitoring and managing systems providing low-range communication and long battery life. Varied requirements of the healthcare segment gain efficient solutions from these technologies due to the deployment of a few resources at low costs. The smart agriculture segment is predicted to gain large revenue shares in the narrowband IoT chipset market during the forecast years. The agricultural applications use this technology in pilot testing across various locations. For instance, in 2017, Stavanger undertook the largest pilot test by tracking about 1,000 sheep at various locations in the region.
The players operating in the narrowband IoT chipset market are Vodafone Group PLC, Verizon Communications, Huawei Technologies Co., Ltd., Qualcomm, Inc., Ericsson, Intel Corporation, Nokia Corporation, Samsung Electronics, STMicroelectronics, China Telecommunication Corporation, and Deutsche Telecom AG. Companies focus on implementing strategic alliances, acquisitions, and collaborations to strengthen the product and solution portfolio. The top players develop technically-advanced products and software to sustain the high narrowband IoT chipset market competition. For instance, in June 2018, Ericsson announced its collaboration with MediaTek for expanding the NB-IoT chipset market. The expansion allows both companies to work on the test and functionality of the NB-IoT chipsets.