Narrowband IoT Market

Executive Summary

Narrowband IoT Market was valued at US $912.58 million in 2021 and is projected to grow at 42.30% CAGR over the forecast period to reach US $7,577.62 million by 2027. Narrowband IoT Market represented US $461.92 million opportunity over 2019-2021 and estimated to create US $6,665.03 million opportunity in 2027 over 2021.

Narrowband IoT from Consainsights analyses the Narrowband IoT Market in the Technology & Media industry over the forecast period to 2027.

Narrowband IoT research report from Consainsights outlines the detailed strategic analysis, trends, market opportunities, growth prospects, industry and market challenges and sustainable solutions to sustain in the competitive environment.

Narrowband IoT segmentation includes Component, Deployment, Device Type, Application and Geography.

Based on the Component, the Narrowband IoT analysis covers Network, Module.

In Component segment, Network segment has highest cagr growth of 36.83%.

Based on the Deployment, the Narrowband IoT analysis covers Standalone, In-band, Guard-band.

In Deployment segment, Standalone segment has highest cagr growth of 36.83%.

Based on the Device Type, the Narrowband IoT analysis covers Wearables, Tracker, Smart Meter, Smart Lighting, Alarm & Detector, Others.

In Device Type segment, Wearables segment has highest cagr growth of 36.83%.

Based on the Application, the Narrowband IoT analysis covers Smart Cities, Transportation & Logistics, Energy & Utilities, Retail, Agriculture, Others.

In Application segment, Smart Cities segment has highest cagr growth of 36.83%.

Based on the region, the Narrowband IoT analysis covers North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America.

Key companies operating in the market include Huawei Technologies Co., Ltd, Ericsson Corporation, Qualcomm Technologies, AT&T Inc, Verizon Wireless, Nokia Corporation, Vodafone Group, SEQUANS Communications, Intel Corporation, Deutsche Telekom, Twilio and so on. This report covers the detailed analysis of the company profiles such as business segments, product portfolio, key brand insights and growth strategies adopted, company SWOT and Strategy analysis along with the financial analysis and analyst insights on the key companies operating in this market.

Market Overview

Definition & Scope

The base currency considered was the US Dollar (USD). Conversion of other currencies to USD was considered on the basis of the average exchange rate for the respective review-period years. The exchange rate conversion for forecast period was determined according to the base year’s conversion rates.

The base year was identified based on the availability of annual reports and secondary information. The base year considered for this study is 2027.

The review period considered for this study is from 2018-2027. The CAGR is for the forecast period, 2022-2027.

Market size estimations for the forecast years were in real terms. Inflation is not part of the pricing, and the average selling price (ASP) was kept constant throughout the forecast period for each country.

Distribution of primary interviews conducted was based on the regional share of the market and the presence of key players in each region.

As a result of data triangulation through multiple methodologies and approaches, the weighted averages of resulting estimates were considered to be the final values.

Currency, Year & Forecast

The currency used in this report is USD, with the market size indicated in terms of USD million/billion.

For companies reporting their revenues in USD, the revenues were taken from their respective annual reports/SEC filings.

For companies reporting their revenues in other currencies, the average annual currency conversion rates were used for a particular year to convert the value to USD Market Definition.

Component

Introduction

In 2021, Network segment has the highest revenue of US $524.03 million and is expected to grow at CAGR of 36.83% by 2027 Network segment has highest cagr growth of 36.83%.

Network

Network segment was valued at US $258.78 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $4,351.25 million by 2027. Network segment represented US $265.24 million opportunity over 2019-2021 and estimated to create US $3,827.22 million opportunity in 2027 over 2021.

Module

Module segment was valued at US $110.51 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $1,858.21 million by 2027. Module segment represented US $113.27 million opportunity over 2019-2021 and estimated to create US $1,634.43 million opportunity in 2027 over 2021.

Deployment

Introduction

In 2021, In-band segment has the highest revenue of US $409.62 million and is expected to grow at CAGR of 36.83% by 2027 Standalone segment has highest cagr growth of 36.83%.

Standalone

Standalone segment was valued at US $162.02 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $2,724.25 million by 2027. Standalone segment represented US $166.07 million opportunity over 2019-2021 and estimated to create US $2,396.16 million opportunity in 2027 over 2021.

In-band

In-band segment was valued at US $202.29 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $3,401.31 million by 2027. In-band segment represented US $207.34 million opportunity over 2019-2021 and estimated to create US $2,991.69 million opportunity in 2027 over 2021.

Guard-band

Guard-band segment was valued at US $86.36 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $1,452.06 million by 2027. Guard-band segment represented US $88.51 million opportunity over 2019-2021 and estimated to create US $1,277.18 million opportunity in 2027 over 2021.

Device Type

Introduction

In 2021, Wearables segment has the highest revenue of US $378.20 million and is expected to grow at CAGR of 36.83% by 2027 Wearables segment has highest cagr growth of 36.83%.

Wearables

Wearables segment was valued at US $186.77 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $3,140.38 million by 2027. Wearables segment represented US $191.43 million opportunity over 2019-2021 and estimated to create US $2,762.18 million opportunity in 2027 over 2021.

Tracker

Tracker segment was valued at US $129.61 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $2,179.39 million by 2027. Tracker segment represented US $132.85 million opportunity over 2019-2021 and estimated to create US $1,916.92 million opportunity in 2027 over 2021.

Smart Meter

Smart Meter segment was valued at US $62.32 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $1,047.93 million by 2027. Smart Meter segment represented US $63.88 million opportunity over 2019-2021 and estimated to create US $921.73 million opportunity in 2027 over 2021.

Smart Lighting

Smart Lighting segment was valued at US $29.94 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $503.35 million by 2027. Smart Lighting segment represented US $30.68 million opportunity over 2019-2021 and estimated to create US $442.73 million opportunity in 2027 over 2021.

Alarm & Detector

Alarm & Detector segment was valued at US $19.33 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $324.99 million by 2027. Alarm & Detector segment represented US $19.81 million opportunity over 2019-2021 and estimated to create US $285.85 million opportunity in 2027 over 2021.

Others

Others segment was valued at US $22.69 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $381.57 million by 2027. Others segment represented US $23.26 million opportunity over 2019-2021 and estimated to create US $335.62 million opportunity in 2027 over 2021.

Application

Introduction

In 2021, Smart Cities segment has the highest revenue of US $352.43 million and is expected to grow at CAGR of 36.83% by 2027 Smart Cities segment has highest cagr growth of 36.83%.

Smart Cities

Smart Cities segment was valued at US $174.04 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $2,926.38 million by 2027. Smart Cities segment represented US $178.39 million opportunity over 2019-2021 and estimated to create US $2,573.95 million opportunity in 2027 over 2021.

Transportation & Logistics

Transportation & Logistics segment was valued at US $119.43 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $2,008.12 million by 2027. Transportation & Logistics segment represented US $122.41 million opportunity over 2019-2021 and estimated to create US $1,766.28 million opportunity in 2027 over 2021.

Energy & Utilities

Energy & Utilities segment was valued at US $66.54 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $1,118.87 million by 2027. Energy & Utilities segment represented US $68.20 million opportunity over 2019-2021 and estimated to create US $984.12 million opportunity in 2027 over 2021.

Retail

Retail segment was valued at US $45.12 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $758.60 million by 2027. Retail segment represented US $46.24 million opportunity over 2019-2021 and estimated to create US $667.24 million opportunity in 2027 over 2021.

Agriculture

Agriculture segment was valued at US $37.19 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $625.30 million by 2027. Agriculture segment represented US $38.12 million opportunity over 2019-2021 and estimated to create US $550.00 million opportunity in 2027 over 2021.

Others

Others segment was valued at US $8.35 million in 2019 and is projected to grow at 36.83% CAGR over the forecast period to reach US $140.35 million by 2027. Others segment represented US $8.56 million opportunity over 2019-2021 and estimated to create US $123.44 million opportunity in 2027 over 2021.