How big is the Narrowband IoT Market?

The Narrowband IoT Market size is expected to reach USD 7.91 billion in 2024 and grow at a CAGR of 31.82% to reach USD 31.47 billion by 2029. Read More

What is the current Narrowband IoT Market size?

In 2024, the Narrowband IoT Market size is expected to reach USD 7.91 billion. Read More

Who are the key players in Narrowband IoT Market?

Huawei Technologies Co., Ltd, Ericsson Corporation, Qualcomm Technologies, AT&T Inc and Verizon Wireless are the major companies operating in the Narrowband IoT Market. Read More

Which is the fastest growing region in Narrowband IoT Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Narrowband IoT Market?

In 2024, the North America accounts for the largest market share in Narrowband IoT Market. Read More

What years does this Narrowband IoT Market cover, and what was the market size in 2023?

In 2023, the Narrowband IoT Market size was estimated at USD 5.39 billion. The report covers the Narrowband IoT Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Narrowband IoT Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Narrowband IoT Market - Analysis & Growth

Narrowband IoT Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Narrowband IoT Market Share and the Market is Segmented by Component (Network, Module), by Deployment (Standalone, In-Band, Guard-Band), by Device Type (Wearables, Tracker, Smart Meter, Smart Lighting, Alarm & Detector, and Others), by Application (Smart Cities, Transportation & Logistics, Energy & Utilities, Retail, Agriculture and Others), and by Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa). The Report Offers Market Forecasts and Size in Value (USD) for all the Above Segments.

Narrowband IoT Industry Overview

The Global Narrowband IoT Market is moderately consolidated, with the presence of a few major companies. The companies continuously invest in strategic partnerships and product developments to gain more market share. Some of the recent developments in the market are:

September 2022 - Sateliot, a satellite communication operator, announced that it is developing direct-to-satellite narrowband IoT (NB-IoT) connectivity using Low Earth Orbiting (LEO) satellites. This week, the business announced a collaboration with Amazon Web Services (AWS) to develop a completely virtualized cloud-native 5G core for its NB-IoT service, which is slated to be commercially operational in the second half of 2023. Rather than selling the service itself, Sateliot intends to provide seamless coverage for cell operators through roaming agreements.
September 2022 - Vodafone NZ, New Zealand's IoT connection provider, has worked with Digital Matter, a global player in GPS and IoT asset tracking hardware and software, to provide complete IoT asset tracking solutions for New Zealand businesses. Vodafone NZ has created a fully managed, end-to-end asset management solution by combining numerous battery-powered IoT asset monitoring devices from Digital Matter with white-label asset tracking software, best-in-class LTE-M (Cat-M1), NB-IoT connection, and in-house technical support.