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DUBLIN--(BUSINESS WIRE)--Sep 30, 2022--
The "Narrowband IoT Market Size, Share, Trends, By Component, By Device, By Deployment Mode, End-Use, and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global narrowband Internet of Things (NB-IoT) market size is expected to reach USD 14,546.94 Million in 2030 and register a revenue CAGR of 41.5% over the forecast period, according to the latest report.
Companies Mentioned
Rapid market revenue growth can largely be attributed to increasing demand for low power wide area network (LPWAN) technologies, as these offer a number of advantages over traditional cellular networks. Low deployment and maintenance costs, long battery life, and improved connectivity in difficult-to-reach areas are just some of the benefits that NB-IoT can provide. However, the high initial investment and lack of awareness about the technology are some of the factors that are expected to restraint the market growth over the forecast period.
The NB-IoT is a low power wide area (LPWA) network technology that enables the connection of a large number of devices with low data requirements to the internet. It is specially designed for IoT applications such as smart meters, wearables, and trackers. The technology consumes less power, which makes it suitable for battery-operated devices. It also offers a wide coverage area, which makes it ideal for rural and remote locations. Moreover, it supports a large number of connections, which is expected to boost the market growth.
The rapid development and innovation in telecommunication technologies has given a new impetus to the growth of the NB-IoT market. The traditional mobile communication networks are being replaced by the newer and faster LTE technology, which is capable of providing high data rates. This has resulted in increased demand for higher data throughputs and higher speeds. The development of 5G technology is also anticipated to have a positive impact on the growth of the NB-IoT market.
One of the key factors driving the growth of the NB-IoT market is the growing demand for low power wide area networks (LPWANs). These networks are being deployed in a variety of industries such as healthcare, automotive, and consumer electronics.
Some Key Highlights from the Report
For the purpose of this report, the author has segmented NB-IoT market based on component, device, deployment mode, end-use, and region:
Component Outlook (Revenue, USD Million; 2019-2030)
Device Outlook (Revenue, USD Million; 2019-2030)
Deployment Mode Outlook (Revenue, USD Million; 2019-2030)
End-Use Outlook (Revenue, USD Million; 2019-2030)
Regional Outlook (Revenue, USD Million; 2019-2030)
For more information about this report visit https://www.researchandmarkets.com/r/lchwc3
View source version on businesswire.com:https://www.businesswire.com/news/home/20220930005195/en/
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KEYWORD:
INDUSTRY KEYWORD: TECHNOLOGY IOT (INTERNET OF THINGS)
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/30/2022 05:03 AM/DISC: 09/30/2022 05:03 AM
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