A recent market research report added to the vast research report portfolio of MarketResearchReports.biz presents a detailed overview of the future scope of development of the global narrowband IoT market. The report, titled “Narrowband IoT (NB-IoT) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025,” states that the market will exhibit an exponential 33.12% CAGR from 2017 to 2025, rising to a valuation of US$1052.69 mn by 2025.
The report attributes several factors to the strong growth propsects of the market in the near future, including the significant rise in adoption and availability of high-speed internet across the globe and the ever-rising network of connected devices globally. The rising rate of adoption of IoT in a number of industries are also boosting the growth prospects of the narrowband IoT market across the globe. The market is also expected to benefit from the increased focus of governments of developed as well as developing economies towards the establishment of smart cities and connected infrastructures.
The report segments the global narrowband IoT market on the basis of criteria such as component, application, end-use industry, and geography. In terms of component, the market has been segmented into hardware, software, and services. The hardware segment is further segmented into module and others. In terms of end use industry, the market has been segmented into healthcare, energy and utilities, retail, transportation and logistics, smart cities, and agriculture. On the basis of application, the report segments the global narrowband IoT market into smart bins, smart metering, alarms and event detectors, and asset tracking.
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From a geographical standpoint, the report examines the market for narrowband IoT in regions such as North America, Europe, Asia Pacific, South America, and Middle East and Africa. Of these, Europe and North America are considered to be the most promising destinations for narrowband IoT businesses in the near future. Factors such as the well-established private and public infrastructures, early adoption of new technologies owing to strong financial situations, and availability of funds for undertaking technological updates are some of the key factors expected to drive the narrowband IoT market in these regions in the near future.
Nevertheless, the Asia Pacific market is also considered to be highly promising owing to the rapid pace of industrialization, increased investments towards the adoption of IoT in industrial, commercial, and public sectors, and the availability of a vast network of high-speed internet. These factors are highly conducive for the narrowband IoT technology and are expected to provide vast growth opportunities to the Asia Pacific narrowband IoT market over the report’s forecast period.
The report also presents a detailed overview of the competitive landscape of the global narrowband IoT market, furnishing key details regarding the leading companies in the market, their share in the global market, recent developments in terms of new product varieties introduced lately and strategic collaborations such as mergers and acquisitions, and other details. A comparative analysis of strengths, weaknesses, opportunities, and threats for the leading vendors in the market is also included in the report.
Some of the leading companies operating in the market profiled in the report are Ericsson Corporation, Qualcomm Technologies, Inc, Vodafone Group Plc, SEQUANS Communications SA, u – blox, Deutsche Telekom, Intel Corporation, Nokia Corporation, ZTE Corporation, Quectel Wireless Solutions Co., Ltd, China Telecom, Sierra Wireless, Huawei Technologies co. ltd., Etisalat Corporation, and China Unicom.