Global Narrowband IoT Chipset Market to grow at a CAGR of 60.85% during 2017-2021

Global Narrowband IoT Chipset Market to grow at a CAGR of 60.85% during 2017-2021

The report gives out the market drivers, opportunities, challenges, future roadmap, value chain, prominent players in the global market, case studies, and key strategies. The research report provides a detailed analysis of the market growth and sizing along with the market share and financial impact of the industry. The research study also offer the consumption and production analysis of the global narrowband IoT chipset market. The study offers an in-depth market insight of the international narrowband IoT chipset market by volume and value along with the market segmentation. The study report offers comprehensive regional study of various geographical segments of the global market that are vital for its overall development. The growth of the global narrowband IoT chipset market has been predicted for the given forecast period by considering the previous market growth patterns, present and future trends.

NB-IoT or narrowband Internet of Things is a LPWA (low-power wide area) technology that permits the connection of numerous devices across a range of cellular telecommunication channels. Narrowband Internet of Things is a type of low power technology and is chiefly used in devices and applications that function at lesser rates of data. This technology also makes sure that devices have a higher battery life.

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The NB IoT model, which has the narrowband IoT chipset can function for more than 10 years with a primary batter of single cell. Although the low power wide area market has grown over the past decade, the technologies related to this market such as LoRa and SigFox, did not possess any established standards. These technologies are highly expensive because of the excessive maintenance cost, show low standard of reliability, and lesser security features. The launch of NB IoT technology in the global LPWA market is a huge development, and NB IoT is projected to be one of the largest areas of development and interest over the course of the given forecast period of 2017 to 2021.

The global market for narrowband IoT chipset is expected to grow at a staggering CAGR of 60.85% over the course of the aforementioned forecast period of 2017 to 2021.

The demand for global narrowband IoT chipset market is projected to witness a strong growth rate on the backdrop of a commanding coverage of network and increase number of connection offered with the aid of the narrowband IoT technology. However, the global narrowband IoT chipset market is not solely dependent on simply one or two factors for growth. The overall surge in the requirement for cellular IoT channels is expected to increase the bar of development. On a global stage, the need could gain significant momentum as customers become increasingly aware of the lesser costs of components and enhanced penetration coverage provided by the narrowband IoT chipset technology.

The high ooperational cost, lack of clear standardization, fragmented structure of the market, high dependence on technology for end use application, and growth of LTE-M network are some of the chief factors expected to impede the overall growth of the global narrowband IoT chipset market. Nonetheless, market vendors in the global market for narrowband IoT chipset can take advantage of the lucrative opportunities that are projected to come up due to increased penetration of internet and surging deployment of narrowband IoT chipset technology.

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Some of the key players in the global IoT chipset market include names such as SEQUANS, Ericsson, Huawei Technologies, Vodafone, and Samsung among others.

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