Wilmington, Delaware, United States, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global narrowband internet-of-things (IoT) Chipset market was estimated at a value of US$ 224.41 million in 2022. It is anticipated to register a 23.4% CAGR from 2023 to 2031. By 2031, the market is likely to attain US$ 2.2 billion by 2031.
Companies in the narrowband Internet-of-Things (IoT) chipset market are making data-driven judgments before expanding into fresh regions due to the tight financial circumstances facing stakeholders in many end-use sectors. Prior to implementing new technologies for chipset manufacture, they are spending in research and development.
Companies in the narrowband Internet-of-things (IoT) chipset market have long-term income potential in wearables, car telematics, and smart city projects.
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Better resolutions are now being used by semiconductor businesses to prevent disruptions in the chip supply. Market participants are taking notice of the rapidly expanding fields of healthcare, environment monitoring, and construction and factory automation.
Market Trends for Narrowband Internet-of-Things (IoT) Chipsets
- There is an increasing number of smart city trial programs, and low power wide area (LPWA) technologies are being supported by the connection infrastructure to enable smart metering, smart buildings, and smart street lighting, among other applications.
- Deploying a radio-access network, however, that can match various spectrum allocations of carriers that may coincide with low battery, cover a large area, and effectively power low-cost devices, is a big problem for smart city applications. These applications include smart metering, agriculture, property monitoring, logistics and fleet management.
- The growing number of smart devices, which often use little quantities of data and are situated in difficult-to-reach locations for signals, presents a promising opportunity to fuel the market expansion for narrowband internet-of-things (IoT) chipsets.
Global Narrowband Internet-of-Things (IoT) Chipset Market: Key Players
While some of the key companies in the narrowband Internet-of-things (IoT) chipset market have the benefit of high-end technology, adoption of new technologies is projected to intensify competition among them. The following companies are well-known participants in the global narrowband internet-of-things (IoT) chipset market:
- Akzo Nobel N.V.
- Cargill Incorporated
- Compass Minerals International Inc.
- K+S AKTIENGESELLSHCAFT
- Tata Chemicals Limited
- Wacker Chemie AG
- Südwestdeutsche Salzwerke AG
- The Henrique Lage Salineira do Nordeste
- INEOS Salts
- Maldon Crystal Salt Co.
- Dampier Salt Limited
- Swiss Salt Works AG
- Cheetham Salt
- Dominion Salt
Key Findings of the Market Report
- Companies within the narrowband Internet-of-things (IoT) chipset industry are introducing power-efficient NB2 IoT chipsets.
- These incredibly efficient chipsets provide low power, long-life Internet of Things applications with notable performance gains.
- In order to effectively implement and test narrowband Internet-of-Things (NB-IoT) data connections up to 100 km from a base-station from the company's commercial network, stakeholders are collaborating.
- Memorandums of understanding (MoUs) are being signed by Indian engineering institutes and tech businesses to build NB-IoT-based sensor networks to monitor pollution, particularly in New Delhi, India.
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Few of the key developments by the players in this market are:
| Company name | Key Developments |
| Sequans Communication |
|
| Qualcomm |
|
Global Narrowband Internet-of-Things (IoT) Chipset Market Segmentation
Deployment
- Guard-band
- In-band
- Standalone
Application
- Smart Meters
- Wearables
- Trackers
- Vehicle Telematics
- Smart Cities
- Building Automation
- Smart Appliances
- Other Devices (Healthcare Devices and Environment Monitoring Devices)
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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