Global Narrowband IoT Market By Application (Smart buildings, Smart governance, Smart asset tracking, Smart metering), Component (Solution, Service) (Real-time streaming analytics, Security solutions, Smart parking management solutions, Logistics tracking

(I-SoftwareNews.Com, March 21, 2018 ) Global Narrowband IoT Market and Regional Market Size, Status and Forecast to 2025

Narrowband IoT (NB IoT) is a Low Power Wide Area technology that works virtually anywhere. It connects devices more simply and efficiently on already established mobile networks, and handles small amounts of fairly infrequent 2 way data, securely and reliably. Narrowband IoT provides very low power consumption, easy deployment, network security and reliability, and low component cost.

The major vendors covered in the Narrowband IoT market for the study are Vodafone Group Plc (London, U.K.), China Mobile (China), China Telecom (Beijing, China), AT&T (Texas, U.S.), Etisalat (Abu Dhabi, UAE), Telstra (Melbourne, Australia), Orange S.A. (Paris, France), Telefonica (Madrid, Spain), SK Telecom (Seoul, South Korea), and Deutsche Telekom (Bonn, Germany).

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The key segments of the global narrowband IoT market depending upon application are smart metering, alarms and event detectors, smart bins, asset tracking, smart packing, and others. Of them, the segment of smart metering holds the leading share in the market as smart meters offer a number of advantages leading to its rising adoption.

Europe stands as the leading regional market for narrowband IoT. The region being home to some of the key players in the industry along with early adoption of NB-IoT technology in the region account for the dominance of the region.

Narrowband IoT is supported by all major mobile equipment, chipset, and module manufacturers and it can co-exist with 2G, 3G, and 4G mobile networks. It also benefits from security and privacy features of mobile networks such as confidentiality, data integrity, support for user identity, and mobile equipment identification.

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Narrowband IoT is a newly released cellular narrowband standard from 3rd Generation Partnership Project (3GPP). The relation of narrowband IoT to long term evolution (LTE) and its use for a number of frequency bands is acting in favor of adoption of narrowband IoT. Using a bandwidth of 200 kHz, narrowband IoT offers improved indoor coverage as compared to GSM,

battery life of more than 10 years, high level of security, and compatibility with existing low cost device as well as with existing cellular network infrastructure.

Furthermore, growing adoption rate of narrowband-IoT across the world, the widened application areas of narrowband IoT, and improved security and network coverage over LTE cellular technology is also anticipated to boost the growth of narrowband IoT market.

The information presented here is based on the findings of a report by Transparency Market Research, titled “Narrowband IoT (NB-IoT) Market (Component - Hardware (Module), Software and Services; Application - Smart Metering, Asset Tracking, Alarms & Event Detectors, Smart Parking, and Smart Bins; End-use Industry - Healthcare, Retail, Energy & Utilities, Transportation & Logistics, Agriculture, and Smart Cities - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 – 2025.”

Market Dynamics:

Market Drivers
1.1 Increasing Need for Connectivity in IoT Applications

1.2 Development of Smart Cities and Smart Buildings

1.3 Adoption of Intelligent Devices

1.4 Low Implementation Cost

1.5 High Flexibility Working with GSM, WCDMA or LTE

Market Restraints
2.1 Less Roaming Support

2.2 Deployment Issues

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Global Narrowband IoT Market By Application (Smart buildings, Smart governance, Smart asset tracking, Smart metering), Component (Solution, Service) (Real-time streaming analytics, Security solutions, Smart parking management solutions, Logistics tracking