Narrowband IoT (NB-IoT) Enterprise Application Market by Application Software, Technology Service, Vertical, Smart Application (Smart Governance, Smart Metering, Smart Homes, Smart Asset Tracking), and Region- Global Forecast to 2022
“Growing demand for Low-Power Wide Area Network (LPWAN) use cases across verticals is expected to drive the overall market”
MarketsandMarkets expects the global Narrow Band-IoT market size to grow from USD 320.5 million in 2017 to USD 8221.3 million by 2022, at a Compound Annual Growth Rate (CAGR) of 91.3% from 2017 to 2022. Growing demand for LPWAN use cases across verticals, high deployment flexibility with GSM, WCDMA, or LTE, extended coverage and long battery life, and low deployment cost are some of the general driving factors for NB-IoT market. Transformation downtime of IT systems and competition from rival LPWAN technologies are some of the restraints in the NB-IoT technology market.
“Smart metering to dominate during the forecast period”
In 2016, smart metering is expected to dominate the NB-IoT enterprise application market in smart application segment. Smart metering is also sub-segmented into smart water, smart gas, and smart electric. These meters are important elements in our day to day life for utility monitoring and billing and one of the main components of the smart cities. They ensure most accurate energy bills. Measurement of energy usage through these meters becomes easy, so there is an expected rise in demand for smart meters for which it seems to be a dominating market.
“Asset tracking is projected to witness the highest growth during the forecast period”
Asset tracking is expected to be the fastest growing market in the NB-IoT smart application market as wireless asset tracking, sensing, and control of products would provide a round-the-clock visibility concerning the whereabouts and state of assets in the supply chain. Its mapping abilities with custom data cover the visualization of the real-time state and location as well as the status history of any asset being tracked. Asset tracking helps the owners to sense and take preventive actions against unexpected events such as theft/loss of pets or livestock or kids and others.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up of profiles of primary discussion participants is given below.
By Company Type: Tier-1: 15%, Tier-2: 26%, and Tier-3: 59% companies
By Designation: C-Level: 35%, Director Level: 40%, and Others: 25%
By Region: North America: 26%, Europe: 35%, APAC: 32%, and RoW: 7%
The list of NB-IoT enterprise application vendors profiled in the report is as follows:
1. Vodafone Group Plc (London, U.K.)
2. China Unicom (Beijing, China)
3. China Telecom (Beijing, China)
4. AT&T (Texas, U.S.)
5. Etisalat (Abu Dhabi, UAE)
6. Telstra (Melbourne, Australia)
7. Orange S.A. (Paris, France)
8. Telefonica (Madrid, Spain)
9. SK Telecom (Seoul, South Korea)
10. Deutsche Telekom (Bonn, Germany)
The global NB-IoT enterprise application market has been segmented on the basis of application software, smart applications, technology services, verticals, and regions. The various types of analysis covered in the study include SWOT analysis, value chain analysis, competitive landscaping, and DROC analysis.
Reasons to Buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the Narrow Band IoT enterprise application market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub-segments across different verticals and regions.
2. The report helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. The report will help the stakeholders to better understand the competitors and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook