NARROWBAND INTERNET OF THINGS CHIPSET MARKET ANALYSIS

Narrowband Internet Of Things Chipset MarketSize and Trends

Narrowband internet of things is a low power wide area network technology specially developed for IOT devices, which requires small amount of data for long time. According to International Energy Agency (IEA), which works to ensure reliable, affordable, and clean energy for its 29 member countries estimated that, 14 billion network devices will be enabled globally by 2020. These devices are connected for cost saving, remote control, and many more. Moreover, increasing innovation in IOT services and hardware offers an opportunity to generate a new revenue. For instance, internet connected wearable glasses are used for industrial application, control of IOT application from smart phones, and tablets etc. Hence, this increasing IOT devices and rising IOT innovation are some of the key factors, which drives the narrowband IOT chipset market globally.            

Market- Trends

Alarm and detectors device segment held the dominating position in 2016 and is projected to maintain its dominance over the forecast period. Moreover, the tracker device segment is expected to grow with largest CAGR in the forecast period. Due to increasing fraudulent activities, the companies have adopted tracking devices, which provides real-time location of the vehicle and shipments. 

Infrastructure segment held the dominating position in 2016 and is projected to maintain its dominance throughout the forecast period. Increasing safety concern has become one of the major factors for the growth of the market in infrastructure segment. Adoption of alarm and detector by various industries fuels the market of narrowband IOT chipset globally. Moreover, the automotive and transportation segment is expected to grow with largest CAGR over the forecast period. Increasing installation of vehicle infotainment and telematics application has increased the narrowband IOT chipset market in automotive and transportation segment.