Narrowband IoT Chipsets Market - Evolving Industry Trends and key Insights by 2024

The booming Internet of Things (IoT) market is boosting demand for the more promising low power wide area (LPWA) technologies that are able to offer better connectivity and coverage for low bandwidth solution. And narrowband IoT is a subscription-based technology which is capable of fulfilling the requirements. These advantages of narrowband IoT makes it a competitor of other LPWA technologies including Sigfox and LoRa.

Additionally, development of chipsets like the Huawei’s advanced chipset with cellular connectivity, digital security, and high efficiency is impacting positively on the market.

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Due to the advancements in narrowband chipsets, the trend of adoption of narrowband IoT into new devices such as mobiles, smart home devices, and smart home appliances is expected to continue over the forecast period.  
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Despite a number of new entrants and extensive competition, the major players such as Vodafone Group PLC, Ericsson, U-Blox Holding AG, MistBase AB, and Huawei Technologies Co. Ltd hold a significant share in the narrowband IoT chipset market.

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