As per the Transparency Market Research, the global narrowband internet-of-things (IoT) chipset market is highly consolidated. Most importantly in 2016, top five companies including U-blox Holding AG, Qualcomm Inc., Commsolid GMBH, Sequans Communications, and Altair Semiconductor held 98% share in the market. If these players keep making significant efforts, there is high possibility of them leading the market over the projected tenure.
Increased investment in research and development activities and higher emphasis on product innovation are some of the key focal points of the key players in this market. Collaboration, mergers and acquisition, and partnership are few other strategies that are widely used by leading players. For example, in 2018 Ericsson collaborated with MediaTek to expand their presence in narrowband IoT chipset market. Few other companies are also playing a vital role in the global narrowband internet-of-things chipset market such as Huawei Technologies, Intel Corporation, Vodafone Group Plc, and Verizon Communications.
On the basis of statistical information, Transparency Market Research analyses that the global narrowband internet-of-things chipset market is anticipated to rise at staggering 37.9% CAGR over the forecast period between 2017 and 2025. In 2016, the market earned US$0.045 bn, which is expected to reach US$0.79 bn by the end of 2025.
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Based on deployment type, the guardband segment is expected to lead the global narrowband internet-of-things chipset market. In 2016, this segment held 41.9% share in the market, and it is projected that this segment will led the market over the projected period. The major advantage of using guardband is that it avoids interference between simultaneous communication channels. It also prevents crosstalk between two different frequency ranges. With respect to geography, emerging economies in Asia Pacific are offering high growth opportunities in the global narrowband internet-of-things chipset market. Growing work for smart city projects, and high adoption of smart meters in countries like India and China are also boosting growth in Asia Pacific narrowband IoT chipset market.
In terms of deployment, the global market for NB-IoT chipset is segmented in the report into standalone, guardband, and inband. Of these, the segment of guardband dominated the global market in 2016, accounting for a massive 41.9% share. Guardband is also expected to remain the most preferred mode of deployment of NB-IoT chipsets as this method helps avoid interference between simultaneous communication channels and prevent crosstalk between two different frequency ranges. The segment is expected to exhibit a promising 38.8% CAGR from 2017 to 2025, retaining its position as the leading contributor of revenue to the global market.
Other segments are expected to closely follow in terms of growth rate over the forecast period, with the segment of inband exhibiting a 37.8% CAGR and the segment of standalone NB-IoT chipset deployment expanding at a 36.3% CAGR over the forecast period. Despite high growth rate, the segment of standalone NB-IoT deployment is expected to lose its market share by the end of the forecast period.
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Asia Pacific to Remain Most Lucrative Regional Market
In terms of geography, the market for NB-IoT chipset has been segmented in the report into Asia Pacific, North America, Europe, Middle East & Africa (MEA), and Latin America. Of these, the Asia Pacific market held the leading market share in terms of revenue contribution to the global market and is expected to retain its dominance during the forecasted period as well. Expected to exhibit an exponential 43.9% CAGR from 2017 to 2025, the Asia Pacific market for NB-IoT chipset is projected to see a massive increase in its revenue contribution to the global market, from nearly 37.5% in 2016 to 55.2% in 2025, of the overall revenue of the global market.
The rising demand for deployment of smart meters and the adoption of smart city concept in countries such as China, Singapore, and India are expected to be the key drivers of the NB-IoT technology in the region. Countries such as China and South Korea will further stimulate the market for narrowband IoT chipsets in the region owing to the presence of several manufacturers.
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