Narrowband IoT (NB-IoT) Market to Reach US$1052.69 Mn by 2025, Owing to Growing Adoption of Automation - TMR

ALBANY, New York, March 13, 2019 /PRNewswire/ --The global narrowband IoT (NB-IoT) market consists of numerous global and local players. The global market is considerably competitive and fragmented says Transparency Market Research (TMR) in a report. The global narrowband IoT market share is evenly categorized among various major players. Several noteworthy players head the global market to deliver quality products to end-users. The most important enterprises operating in the global narrowband IoT (NB-IoT) market are ZTWE Corporation, SEQUANS Communications SA, Intel Corporation, China Telecom, and Etisalat Corporation.

As said in the report of TMR, the global narrowband IoT (NB-IoT) market is projected to achieve US$1052.69 mn before the end of 2025, stretching out at a CAGR of 33.12% in the duration of 2017 and 2025. Geographically, Europe will lead the global narrowband IoT (NB-IoT) market in the forthcoming years. Owing to increasing applications of NB-IoT in transportation and automation sector is responsible for leading in this region. North America is also leading the global narrowband IoT (NB-IoT) market owing to the rising adoption of cloud based and IoT services in this economy.

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Based on end-user section, the global narrowband IoT (NB-IoT) market is divided into healthcare, retail, energy & utilities, transportation & logistics, agriculture, and smart cities are some of the key applications of narrowband IoT. Among these, smart cities are the leading segments as IoT devices are deployed in both residential and commercial buildings to make resource and energy allocation more effective with improved security.

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Reliable Connectivity Factoring the Global Narrowband IoT (NB-IoT) Market

The narrowband IoT (NB-IoT) is a low power wide area network technology (LPWA) standard that connects a wide range of devices and services on established cellular network. NB-IoT is well suited for applications that deals with small amount of infrequent data transfer over long period. NB-IoT operates in licensed spectrum that offers secure and reliable connectivity while assuring quality of service.