Narrowband Internet-of-Things (IoT) Chipset Market Size Projected to Reach USD 2.2 billion by 2031, With 23.4 … – Yahoo Finance

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Transparency Market Research

To use LPWA network technology, semiconductor companies and other value chain actors need to collaborate closely with governmental and regulatory bodies.

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

  • MicroEJ, a company that provides standard software containers for the Internet of Things, and Sequans Communications announced a partnership in February 2022.

  • The standard software Edge container, MICROEJ VEE, has been migrated to the Monarch 2 platform of Sequans, offering a number of advantages to the IoT clients of Sequans.

  • Advantages include a quick go-to-production track that lowers development costs and times, as well as simple portability of non-cellular application types to cellular platforms with Sequans’ Monarch 2 technology.

  • The Monarch 2 GM02S LTE-M/NB-IoT module is being used by Ubiik, an Industrial IoT solutions provider with a track record of successful large-scale deployments, as a new connectivity solution in Ubiik’s rapidly expanding AMI (advanced metering infrastructure) network, according to a January 2022 announcement from Sequans Communications.

Qualcomm

  • Qualcomm introduced the most power-efficient NB2 IoT chipset, which delivers notable performance enhancements for low-power long-life IoT applications, in April 2020.

Global Narrowband Internet-of-Things (IoT) Chipset Market Segmentation 

Deployment

  • Guard-band

  • In-band

  • Standalone

Application

Region

  • North America

  • Europe

  • Asia Pacific

  • Middle East & Africa

  • Latin America

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