Narrowband IoT (NB-IoT) Chipset Market Scope 2030
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Narrowband IoT (NB-IoT) Chipset Market
“The global narrowband IoT (NB-IoT) chipset market size is expected to witness an exponential growth, owing to surge in 
adoption of IoT devices with more efficient network options. In addition, considerable investments in developing improved IoT 
devices by the market players propels the market growth during the forecast period..”
Ankit Gupta - Lead Analyst
Semiconductor and Electronics at Allied Market Research
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Narrowband IoT (NB-IoT) Chipset Market
According to a new report published by Allied Market Research, titled, “Narrowband IoT (NB-IoT) chipset Market by 
Component, Deployment, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 
2021–2030,” the narrowband IoT (NB-IoT) chipset market size was valued at $425.0 million in 2020, and is projected to 
reach at $22,105.6 million by 2030, growing at a CAGR of 52.1% during the forecast period.
The key driving forces of the global narrowband IoT (NB-IoT) chipset industry are rise in adoption of IoT devices and 
surge in penetration of cellular IoT networks. However, availability of alternative low power wide area (LPWA) 
technologies such as long-term evolution machine type communication (LTE-M) hampers the adoption of NB-IoT 
technology, thereby restraining the global market growth. 
Moreover, NB-IoT can be used only low-speed applications, which limits its use in high-speed applications, thus acting as a 
major barrier for the narrowband IoT (NB-IoT) chipset market growth. On the contrary, increase in trend of smart cities to 
enhance sustainable development is anticipated to create lucrative opportunities for the market growth during the forecast 
period.
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Narrowband IoT (NB-IoT) Chipset Market
The hardware segment was the highest contributor to the market in 2020, owing to higher rate of adoption of NB-IoT 
chipset. The guard segment acquired a prominent share in the market in 2020, as NB-IoT accommodates bandwidth 
reserved in the guard band of existing LTE networks. By application, the alarms & detectors segment acquired maximum 
share in 2020, owing to higher demand for alert systems. In addition, the infrastructure garnered significant share in 2020, 
owing to the development of smart cities.
Region wise, Asia-Pacific holds a significant share in the global narrowband IoT (NB-IoT) chipset market. China holds 
major market share, owing to increase in investments to develop NB-IoT networks. China is predicted to lead the NB-IoT 
chipset market, due to the presence of leading mobile operators such as China Unicom and Huawei Technologies.
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Narrowband IoT (NB-IoT) Chipset Market
Key Findings of the Study
• In 2020, the hardware segment accounted for maximum revenue, and is projected to grow at a notable CAGR 
of 52.1% during the forecast period.
• The alarms & detectors segment garnered more than 25% of the narrowband IoT (NB-IoT) chipset market 
share in 2020.
• The healthcare segment is projected to grow at a CAGR of 54.4% during the forecast period.
• Asia-Pacific contributed major share in the narrowband IoT (NB-IoT) chipset market, accounting for more 
than 35.0% share in 2020.
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Narrowband IoT (NB-IoT) Chipset Market
Major Companies:
The key players profiled in the report include Huawei Technologies Co. Ltd. (China), Qualcomm Incorporated (U.S.), 
Intel Corporation (U.S.), Nordic Semiconductor (Norway), Sanechips Co. Ltd. (China), Samsung Group (South Korea), 
MediaTek Inc. (Taiwan), Sercomm Corporation (Taiwan), u-blox Holding AG (Switzerland), and Sequans 
Communications S.A.(France). 
Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, 
and acquisition to expand their foothold in the narrowband IoT (NB-IoT) chipset industry.
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Narrowband IoT (NB-IoT) Chipset Market
Contact:
David Correa
United States
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Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
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[email protected] 
Web: https://www.alliedmarketresearch.com 
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