Press Release

Narrowband IoT Chipset Market is expected to register a CAGR of 48.7% during the forecast period

The Global Narrowband IoT Chipset Market is rising due to the growing demand for low-power, wide-area connectivity for IoT devices in the forecast period 2025-2029.

According to TechSci Research report, “Narrowband IoT Chipset Market - 
Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, The Global Narrowband IoT (NB-IoT) Chipset Market is experiencing a significant upward trajectory driven by the surging demand for cost-effective, low-power, and wide-area connectivity solutions for the Internet of Things (IoT). NB-IoT technology offers a standardized and efficient means of connecting a vast array of IoT devices, such as smart meters, wearable devices, and environmental sensors, with a focus on conserving energy and maximizing network coverage. As industries increasingly adopt IoT for monitoring, data collection, and automation, the demand for NB-IoT chipsets has intensified. Furthermore, the technology's ability to support massive numbers of devices on a single network, coupled with its strong security features, makes it an attractive choice for businesses and governments seeking to leverage IoT for improved operational efficiency and data-driven decision-making. The Global NB-IoT Chipset Market is poised for continuous growth, with key players in the semiconductor industry actively investing in research and development to advance the capabilities of NB-IoT chipsets and meet the evolving needs of the IoT ecosystem.

The Global Narrowband IoT (NB-IoT) Chipset Market is currently undergoing significant growth and transformation, driven by the increasing demand for low-power, wide-area connectivity solutions for the Internet of Things (IoT). NB-IoT technology has emerged as a key enabler of IoT applications across diverse industries, ranging from smart cities and manufacturing to healthcare and agriculture. This technology's prominence in the market can be attributed to several key factors. First and foremost, the explosive growth of the IoT ecosystem is a primary driver of the NB-IoT Chipset Market. As industries and sectors increasingly recognize the potential of IoT for enhancing efficiency, collecting valuable data, and automating processes, the need for robust, energy-efficient connectivity solutions has surged. NB-IoT chipsets offer a standardized, cost-effective means of connecting a wide array of IoT devices, from smart meters and environmental sensors to asset tracking solutions. One of the defining features of NB-IoT is its low-power consumption, making it ideal for IoT applications that require long device battery life. This longevity is essential for scenarios where battery replacement or recharging is impractical, such as in remote monitoring systems, agricultural sensors, and wearable devices. The ability to operate on ultra-low power extends the lifespan of connected devices, minimizing the overall cost of ownership and maintenance.

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Enhanced coverage and penetration serve as pivotal drivers for the NB-IoT Chipset Market. Operating on licensed spectrum bands ensures stable and reliable connectivity, with superior building and ground penetration capabilities, ideal for IoT deployments in complex environments like urban areas and industrial facilities. Consequently, NB-IoT technology emerges as the preferred choice for applications requiring consistent and extensive coverage, such as smart city infrastructure, building automation, and logistics. Security and reliability constitute paramount considerations in the Global NB-IoT Chipset Market. With IoT applications often handling sensitive data and critical infrastructure, robust security measures are imperative. NB-IoT chipsets adhere to 3GPP standards, benefiting from cellular networks' strong security infrastructure, including authentication protocols and encryption. This heightened security is particularly vital for sectors like healthcare, finance, and critical infrastructure, where data privacy and operational integrity are non-negotiable. Moreover, NB-IoT connectivity's reliability minimizes data loss and downtime, enhancing its appeal for applications requiring uninterrupted service. Standardization and interoperability emerge as significant factors shaping the NB-IoT Chipset Market. Adhering to globally accepted 3GPP standards ensures seamless compatibility with a wide array of network equipment and devices, simplifying deployment processes, reducing integration challenges, and fostering collaboration among device manufacturers, network operators, and application developers. The open nature of the NB-IoT standard promotes the development of diverse IoT devices, modules, and infrastructure, contributing to a vibrant and competitive market landscape.

Based on Deployment, In Band deployment segment emerged as the dominant force in the Global Narrowband IoT (NB-IoT) Chipset Market, and it is expected to maintain its dominance throughout the forecast period. In Band deployment refers to the integration of NB-IoT technology within the existing cellular spectrum bands, allowing for efficient coexistence with 4G and 5G networks. This approach offers several key advantages that have solidified its position as the dominant segment. In Band deployment leverages the existing cellular infrastructure, reducing the need for additional dedicated spectrum allocation. This makes it a cost-effective choice for network operators and businesses looking to deploy NB-IoT services, leading to its widespread adoption. In Band deployment offers seamless coexistence with other cellular technologies, such as 4G and 5G, enabling smooth transitions and providing network operators with a comprehensive IoT connectivity solution. This adaptability is crucial in meeting the diverse connectivity needs of IoT applications across different industries. Lastly, In Band deployment benefits from the robust and established security features of cellular networks, which are crucial for IoT applications that handle sensitive data and critical infrastructure. Given these advantages, the In Band deployment segment is well-poised to continue its dominance in the Global NB-IoT Chipset Market. As IoT adoption grows across industries and network operators seek to expand their services, the In Band deployment approach offers an efficient and reliable means of accommodating the increasing demand for NB-IoT connectivity while seamlessly integrating with existing cellular networks.

Major companies operating in Global Narrowband IoT Chipset Market are:

  • Qualcomm Technologies, Inc.
  • Huawei Technologies Co., Ltd.
  • Nordic Semiconductor ASA
  • Sierra Wireless, Inc.
  • Sequans Communications S.A.
  • u-blox AG
  • Sony Semiconductor Israel Ltd.
  • Telit Cinterion group
  • Quectel Wireless Solutions Co., Ltd
  • Samsung Electronics Co., Ltd.

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“North America stands out as the fastest-growing segment in the Global Narrowband IoT (NB-IoT) Chipset Market. This growth is fueled by several factors, including the region's robust infrastructure for telecommunications, high adoption rates of IoT technology across various industries, and strong support from government initiatives and policies promoting IoT deployment. Additionally, the presence of leading NB-IoT chipset manufacturers and technology innovators in North America contributes to the rapid expansion of the market in the region. The increasing demand for NB-IoT solutions in applications such as smart cities, industrial automation, and connected healthcare further drives the growth of the NB-IoT chipset market in North America.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Narrowband IoT Chipset Market –Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Device Type (Tracker, Smart Metering, Wearable), By Deployment (Stand Alone, Guard Band, In Band), By Vertical (IT, Manufacturing, Agriculture, Healthcare, Automotive, Transportation), By Region, By Competition 2019-2029F”, has evaluated the future growth potential of Global Narrowband IoT Chipset Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Narrowband IoT Chipset Market.


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