Narrowband - IoT Market Scenario:

The global Narrowband - IoT Market is expected to grow over the CAGR of ~50% during the period 2021 to 2027 from USD ~10 million in 2027. Nb-iot is a type of M2M communication technology that is specifically optimized for internet of things (IoT). The Nb-iot modules only transmit small amount of infrequent data over long period of time. The Market of Nb-iot is showing healthy growth due to the various advantages offered over conventional M2M channels such as low cost, low power consumption, long battery backup, reliable connection with wide area coverage and deep penetration. The growing demand of low power connectivity solution and increasing interest in IoT platform are driving the market of Nb-iot.

The crippling effect of the global COVID-19 pandemic has detained the growth potential of the Narrowband - IoT Market. This MRFR report on the Narrowband - IoT Market indicates critical pointers that may emerge as growth hubs in the future. Moreover, in-depth data analysis is estimated to offer a clearer growth perspective to market participants.

In April 2016, Huawei and Vodafone announced the foundation of an Open IoT Lab for the product development and applications relating to Nb-iot technology. Many prominent vendors such as Huawei Technologies Co. Ltd., Emirates Telecommunications Corporation, Qualcomm Incorporated and Vodafone Group PLC among others are working towards making the IoT dream, a reality.

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Competitive Outlook:

The Major Key players of Narrowband IoT Market Growth are: Huawei Technologies Co. Ltd. (China), Vodafone Group PLC (U.K.), Emirates Telecommunications Corporation (UAE), Telecom Italia (Italy), Qualcomm Incorporated (U.S.), China Unicom (China), Intel Corporation (U.S.), Ericsson (Sweden),

Nokia Networks (Finland), Verizon Communication (U.S.) among others.


  • Segmentation by Device Type (Tracker, Smart Metering, Wearable)
  • Segmentation by Deployment (Stand Alone, Guard Band, In Band and)
  • Segmentation by Vertical (IT, Manufacturing Agriculture, Healthcare, Automotive & Transportation)

Narrowband IoT Market Growth Share:

The usage of tracking devices and Smart meter is increasing among various industry such automotive & shipping industry, building automation, healthcare among others. Nb-iot offers wide coverage and low data rate transmission and is expected to be widely adopted by these industries for tracking and security applications among others. The increasing sensor deployment and machine-to-machine connectivity in order to manage the devices from remote locations are some of the major driving factors which are helping the Narrowband IoT Market Growth to achieve new heights in upcoming years.

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Table of Contents:

  1. Report Prologue
  2. Introduction
    2.1 Definition
    2.2 Scope Of The Study
    2.2.1 Research Objective
    2.2.2 Assumptions
    2.2.3 Limitations
    2.3 Market Structure
    3. Research Methodology
    3.1 Research Process
    3.2 Primary Research
    3.3 Secondary Research
    3.4 Market Size Estimation
    3.5 Forecast Model


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