Research Nester released a report titled “Narrowband-Internet of Things (NB-IoT) Technology Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the narrowband-internet of things (NB-IoT) technology market in terms of market segmentation by component, device type, deployment, application and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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Narrowband-internet of things (NB-IoT) is a low power wide area (LPWA) technology which is developed on the basis of 3gpp standards to enable a wide range of new IoT devices and services. Moreover, this technology significantly improves the power consumption of user devices, system capacity and spectrum efficiency, especially in deep coverage.
The narrowband-internet of things (NB-IoT) technology market is projected to grow with a high CAGR during the forecast period, i.e., 2020-2029 on account of the increasing high deployment flexibility with global system for mobile communications (GSM), wideband code division multiple access (WCDMA), or long-term evolution (LTE), extended coverage and long battery life and low deployment cost.
Based on deployment, the market has been further segmented into in-band, guard-band, and standalone modes. The guard-band segment is estimated to dominate the market in 2020 and is also anticipated to emerge as the fastest-growing segment over the forecast period. The capability to use the existing cellular infrastructure, including antenna and Radio Frequency (RF) modules, without having to add any additional spectrum cost would serve as the major factor driving the growth of the guard-band segment.
Based on device type, the market has been further segmented into alarm & detector, smart parking, smart meter, smart lighting, tracker, wearables, and others. The wearables segment is projected to dominate the market in 2020 owing to the rapidly increasing demand for sports, fitness, and healthcare devices for personal care and diagnostics. While the rising levels of disposable income coupled with the rising awareness regarding physical fitness are encouraging the younger population to use sports and fitness bands, the adoption of healthcare bands is increasing in developed economies, such as Germany, Japan, the U.K., and the U.S., in line with the growing aging population in these economies. The demand for wearables is expected to increase over the forecast period as a result.
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On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the narrowband-internet of things (NB-IOT) technology market in the market in North America is estimated to dominate in 2020. North America is home to several leading device manufacturers and network service providers focusing on testing and commercial deployment of solutions for consumer and industrial applications. Some of these device manufacturers and network operators include Qualcomm inc., AT&T, Cellco partnership (Verizon Wireless), T-Mobile US, inc., and Intel corporation. The rising levels of disposable income, growing tech-savvy population, and continued adoption of emerging technologies for personal and business applications are some of the other major factors driving the growth of the North American regional market.
Increasing High deployment flexibility with global system for mobile communications (GSM), Wideband Code Division Multiple Access (WCDMA), or long-term Evolution (LTE), Extended Coverage and Long Battery Life and Low Deployment Cost to Drive the Market Growth
The narrowband-internet of things (NB-IoT) alludes to a wide territory network innovation that capacities on low force and connections a scope of gadgets and related administrations on cell organizations. This innovation works in an affirmed range offering protected and dependable availability alongside guaranteed administration quality. These advantages are required to help market development. Moreover, the covid-19 pandemic has quickly spread worldwide and has affected a couple of ventures decidedly, while most others have been influenced contrarily. Governments have forced limitations restricting individuals to their homes as a prudent step to contain the pandemic's spread. The rising number of individuals remaining at home has supported the interest in fast internet availability. It has significantly expanded information utilization, moving the development at low cost of the narrowband-IoT market during the pandemic.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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