Narrowband IoT Market Size, Share & Trends Analysis Report by Component (Hardware, Software, Services), Deployment Mode, Device Type, End-Use Industry × Application, and Geography (North America, Europe, Asia Pacific, Middle East, Africa, and South America) – Global Industry Data, Trends, and Forecasts, 2025–2035
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Market Structure & Evolution |
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Segmental Data Insights |
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Demand Trends |
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Competitive Landscape |
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Strategic Development |
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Future Outlook & Opportunities |
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Narrowband IoT Market Size, Share, and Growth
The global narrowband IoT market is experiencing robust growth, with its estimated value of USD 1.0 billion in the year 2025 and USD 17.3 billion by the period 2035, registering a CAGR of 32.5%. Asia Pacific leads the market with narrowband IoT market share of 67.2% with USD 0.7 billion revenue.
Through its connectivity leadership, Vodafone IoT, in collaboration with chipset innovators like Sony, unveiled roaming-capable LPWA solutions—including NB-IoT—supported by integrated iSIM platforms, enabling cross-border device compatibility across 130+ global LPWA networks.
Large-scale deployments of smart cities and utilities with its efficient, low-battery, wide-area communication connectivity, are driving the global Narrowband IoT (NB-IoT) market. Deutsche Telekom and Telit Cinterion announced an NB-IoT solution across Europe to track assets with up to 10 years battery life in late 2024 with an offer to customers that have a rugged industrial application. Embedded modules also are transforming: in mid-2024, STMicroelectronics launched its ST87M01 NB-IoT module with GNSS to enable high-accuracy smart metering and factory checking. These technological advances promote the implementation of the NB-IoT as they lead to extending the lifetime of devices used and increasing the area of use in the licensing and industrial segments.
Narrowband IoT Market Dynamics and Trends
Driver: Proliferation of Smart Metering and Utility Rollouts Driving NB-IoT Nationwide Connectivity and Deployment Demand Surge
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The scale of smart-meter replacements and utility IoT deployments is causing a direct uplift in the demand of NB-IoT, with the technology now able to support years of battery life, deep indoor coverage and unit connectivity cost in the tens of cents. NB-IoT is favored by utilities and municipal services that have large metering fleets with predictable, low-bandwidth uplink and long-term battery life materially reducing operating cost and field maintenance.
- This driver has been in active force when it comes to recent operator collaboration in Europe, a successful pan-European NB-IoT roaming trial was reported by GSMA in June 2025, with Deutsche Telekom and Vodafone now enabling seamless device roaming and proven NB-IoT can deliver cross-border utility and smart-city applications. In the trial, interoperability advantages were demonstrated to speed up procurement decisions by large government and industry buyers who want reliable, continent-wide connectivity to their water, gas, and power meters.
- With millions of meters expected to be replaced in coming 10 years, NB-IoT value proposition of scale, simple device lifecycle management, low-cost data, and easy provisioning has made it the logical LPWA option by utilities.
Restraint: Fragmented Spectrum Policies and Operator Rollout Inconsistencies Hamper Uniform NB-IoT Commercial Rollouts Across Regions
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Delays in the universal commercial availability of NB-IoT are caused by a lack of a global harmonized national spectrum assignment policy and operator prioritisation, which requires device makers and solution integrators to support numerous regional variants and makes global deployments cumbersome. Low-band spectrum in existing mobile networks faces reorganization or retuning by some operators to support wider 5G use, whereas some operators are still investing in NB-IoT; this variability adds complexity to Bill-of-Materials and certification processes by module vendors and OEMs that support cross market use product portfolios.
- The technical impact is that it takes longer to time-to-market roaming equipped devices, and engineering overhead of multi-band firmware and certification is increased. This is liable to increase procurement risk in enterprises that were considering pan-regional smart-city rollouts or global cross-border asset tracking initiatives that require cross-border asset tracking coordination between multiple operators or multiple technologies, since this fragmentation of policy is liable to drive them into single-operator partnerships or toward alternative LPWA technologies in certain jurisdictions.
Opportunity: Integration of NB-IoT with Satellite NTN Opens Global Off-Grid Asset Monitoring and New Market Opportunities
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Terrestrial NB-IoT convergence with Non-terrestrial networks (NTN) via satellite makes global coverage possible to stationary and remote assets, unlocking stationary applications such as maritime, agriculture, mining, and logistics that were previously unserved. The satellite-based NB-IoT overcomes the limitation of cellular coverage and enables single-SKU devices to transmit on terrestrial masts, opening substantial market opportunities to module manufacturers, chipset suppliers and connectivity resellers.
- Market developments going forward in 2025 confirm this opportunity: Iridium and other satellite operators have stepped-up deployment toward NB-IoT/NTN services with commercial rollouts expected in 2026, and module vendors are certifying hybrid NB-IoT/NTN modules, with global deployment. Chipset suppliers are pandering as well, providing modem capabilities and power characteristics that are optimised to support infrequent long-range uplinks, but maintain long battery life. NB-IoT supported by satellites opens up new possibilities due to the low cost to perform remote monitoring projects that have been prohibitive in the past to enterprises that are dealing with widely distributed physical assets.
Key Trend: Convergence of NB-IoT with AI-enabled Edge Analytics Accelerates Predictive Maintenance and Operational Efficiency in Devices
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NB-IoT implementation is more often accompanied by edge data reduction and AI models deployed to run on gateways or in low-power endpoints and turn raw telemetry data into useful insights, which help limit network utilization and make decisions more timely. This direction is reinforced by a transition of vendor roadmaps to integrated hardware-software stacks: major silicon and infrastructure vendors are delivering modems and cloud toolchains that enable secure and lightweight model inferencing at scale, across endpoints numbering in the millions.
- In March 2025 Qualcomm announced a new series of IoT modems specifically made to target NB-IoT and Cat-1bis that include iSIM and cloud services specifically to support both secure edge orchestration and analytics pipelines. A second trend is telecom vendors and platform players are integrating ML pipelines into connectivity services so that customers can execute anomaly detection and predictive maintenance models without expensive uplinks.
- AI-enabled edge analytics magnify NB-IoT value by lowering operational costs and enabling premium predictive services, driving higher willingness to pay.
Narrowband IoT Market Analysis and Segmental Data
Hardware Segment Leads NB-IoT Market Due to Large-Scale Module and Chipset Deployments
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The hardware segment dominates the global Narrowband IoT market as modules, chipsets, and gateways form the backbone of NB-IoT infrastructure, enabling connectivity for smart meters, wearables, and logistics devices. In April 2025, Qualcomm announced the next generation NB-IoT chipsets that included integrated iSIM to boost efficiencies and reduce the cost of a cellular-enabled device to enterprises.
- Increasing uptake of connected devices in utilities and smart-city initiatives is driving the pace of hardware demand, with governments and businesses demonstrating a growing demand to utilize powerful NB-IoT modules to implement large-scale deployments. Let us use, as an example, the recent growth in NB-IoT deployments of smart water metering by Huawei and China Telecom, which has boosted shipments of hardware by a big margin across Asia-Pacific.
- Hardware will continue to be the foundation of NB-IoT growth and innovation in modules and chipsets will ensure a long-term dominant position in the component ecosystem.
Asia Pacific Dominates Narrowband IoT Market Through Expansive Smart City and Utility Deployments
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Asia Pacific leads the global Narrowband IoT market due to rapid urbanization, government-led smart city programs, and large-scale adoption in utilities. In March 2025, Bharti Airtel partnered with Nokia to expand NB-IoT connectivity across India, supporting applications in agriculture, asset tracking, and smart metering.
- China, India, and South Korea are driving exponential growth as telecom operators and equipment providers aggressively deploy NB-IoT networks for industrial automation and public infrastructure. Recent expansion of NB-IoT smart street lighting projects in South Korea has further strengthened hardware demand across the region.
- Asia Pacific’s strong regulatory backing and large-scale deployments cement its position as the fastest-growing NB-IoT market worldwide.
Narrowband IoT Market Ecosystem
The global Narrowband IoT (NB-IoT) market demonstrates a moderately consolidated structure, with Tier 1 players such as Huawei Technologies, Ericsson, Nokia, Qualcomm, and China Mobile dominating network infrastructure, chipsets, and large-scale deployments. Tier 2 players, including u-blox, Sierra Wireless, and Telit, focus on modules and connectivity solutions, while Tier 3 consists of regional and niche vendors. Porter’s Five Forces indicates a medium buyer concentration, as large telecom operators command bargaining power, while supplier concentration is high, given the limited number of chipset and infrastructure providers driving technology control.
Recent Development and Strategic Overview:
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In July 2025, Vodafone España unveiled a proprietary IoT platform built upon its established NB-IoT infrastructure operating since 2017 and now supporting over 9.3 million connected devices. The platform enables smart city services, smart water meter rollouts, wildfire detection sensors, teleassistance for the elderly, and connected V16 emergency lights to comply with upcoming road safety mandates.
- In March 2025, TRASNA Solutions acquired u-blox’s cellular IoT module division including its technology, IP, and staff, expanding its capabilities in NB-IoT and underpinning a strategic push into global module and device management services.
Report Scope
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Attribute |
Detail |
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Market Size in 2025 |
USD 1.0 Bn |
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Market Forecast Value in 2035 |
USD 17.3 Bn |
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Growth Rate (CAGR) |
32.5% |
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Forecast Period |
2025 – 2035 |
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Historical Data Available for |
2021 – 2024 |
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Market Size Units |
US$ Billion for Value Million Units for Volume |
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Report Format |
Electronic (PDF) + Excel |
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Regions and Countries Covered |
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North America |
Europe |
Asia Pacific |
Middle East |
Africa |
South America |
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Companies Covered |
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Narrowband IoT Market Segmentation and Highlights
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Segment |
Sub-segment |
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By Component |
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By Deployment Mode |
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By Device Type |
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By End-Use Industry × Application |
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Frequently Asked Questions
The global Narrowband IoT market was valued at USD 1.0 Bn in 2025.
The global Narrowband IoT market industry is expected to grow at a CAGR of 32.5% from 2025 to 2035
The demand for the Narrowband IoT market is driven by large-scale smart city deployments, rapid adoption in utilities for smart metering, low-power wide-area connectivity, and strong government-backed digital transformation initiatives.
In terms of component, the hardware segment accounted for the major share in 2025.
Asia Pacific region is a more attractive region for vendors.
Key players in the global Narrowband IoT market include prominent companies such as AT&T Inc., China Mobile Limited, China Unicom, Deutsche Telekom AG, Ericsson AB, Huawei Technologies Co., Ltd., Intel Corporation, Nokia Corporation, Qualcomm Technologies, Inc., Quectel Wireless Solutions Co., Ltd., Samsung Electronics Co., Ltd., Sequans Communications S.A., Sierra Wireless, Inc., SIMCom Wireless Solutions Co., Ltd., Telit Communications PLC, T-Mobile US, Inc., u-blox Holding AG, Verizon Communications Inc., Vodafone Group Plc, ZTE Corporation and Other Key Players.
Table of Contents
- 1. Research Methodology and Assumptions
- 1.1. Definitions
- 1.2. Research Design and Approach
- 1.3. Data Collection Methods
- 1.4. Base Estimates and Calculations
- 1.5. Forecasting Models
- 1.5.1. Key Forecast Factors & Impact Analysis
- 1.6. Secondary Research
- 1.6.1. Open Sources
- 1.6.2. Paid Databases
- 1.6.3. Associations
- 1.7. Primary Research
- 1.7.1. Primary Sources
- 1.7.2. Primary Interviews with Stakeholders across Ecosystem
- 2. Executive Summary
- 2.1. Global Narrowband IoT Market Outlook
- 2.1.1. Narrowband IoT Market Size (Volume – Million Units and Value – US$ Bn), and Forecasts, 2021-2035
- 2.1.2. Compounded Annual Growth Rate Analysis
- 2.1.3. Growth Opportunity Analysis
- 2.1.4. Segmental Share Analysis
- 2.1.5. Geographical Share Analysis
- 2.2. Market Analysis and Facts
- 2.3. Supply-Demand Analysis
- 2.4. Competitive Benchmarking
- 2.5. Go-to- Market Strategy
- 2.5.1. Customer/ End-use Industry Assessment
- 2.5.2. Growth Opportunity Data, 2025-2035
- 2.5.2.1. Regional Data
- 2.5.2.2. Country Data
- 2.5.2.3. Segmental Data
- 2.5.3. Identification of Potential Market Spaces
- 2.5.4. GAP Analysis
- 2.5.5. Potential Attractive Price Points
- 2.5.6. Prevailing Market Risks & Challenges
- 2.5.7. Preferred Sales & Marketing Strategies
- 2.5.8. Key Recommendations and Analysis
- 2.5.9. A Way Forward
- 2.1. Global Narrowband IoT Market Outlook
- 3. Industry Data and Premium Insights
- 3.1. Global Electronics and SemiconductorsIndustry Overview, 2025
- 3.1.1. Industry Ecosystem Analysis
- 3.1.2. Key Trends for Electronics and Semiconductors Industry
- 3.1.3. Regional Distribution for Electronics and Semiconductors Industry
- 3.2. Supplier Customer Data
- 3.3. Technology Roadmap and Developments
- 3.4. Trade Analysis
- 3.4.1. Import & Export Analysis, 2025
- 3.4.2. Top Importing Countries
- 3.4.3. Top Exporting Countries
- 3.5. Trump Tariff Impact Analysis
- 3.5.1. Manufacturer
- 3.5.1.1. Based on the component & Raw material
- 3.5.2. Supply Chain
- 3.5.3. End Consumer
- 3.5.1. Manufacturer
- 3.6. Raw Material Analysis
- 3.1. Global Electronics and SemiconductorsIndustry Overview, 2025
- 4. Market Overview
- 4.1. Market Dynamics
- 4.1.1. Drivers
- 4.1.1.1. Rapid adoption of smart metering and utility monitoring applications
- 4.1.1.2. Growing deployment of NB-IoT in smart city infrastructure and asset tracking
- 4.1.2. Restraints
- 4.1.2.1. High initial network deployment and integration costs for operators
- 4.1.2.2. Limited data transmission speed restricting use in high-bandwidth IoT applications
- 4.1.1. Drivers
- 4.2. Key Trend Analysis
- 4.3. Regulatory Framework
- 4.3.1. Key Regulations, Norms, and Subsidies, by Key Countries
- 4.3.2. Tariffs and Standards
- 4.3.3. Impact Analysis of Regulations on the Market
- 4.4. Value Chain Analysis
- 4.4.1. Raw Material & Component Suppliers
- 4.4.2. Narrowband IoT Manufacturers
- 4.4.3. Distributors
- 4.4.4. End-users/ Customers
- 4.5. Cost Structure Analysis
- 4.5.1. Parameter’s Share for Cost Associated
- 4.5.2. COGP vs COGS
- 4.5.3. Profit Margin Analysis
- 4.6. Pricing Analysis
- 4.6.1. Regional Pricing Analysis
- 4.6.2. Segmental Pricing Trends
- 4.6.3. Factors Influencing Pricing
- 4.7. Porter’s Five Forces Analysis
- 4.8. PESTEL Analysis
- 4.9. Global Narrowband IoT Market Demand
- 4.9.1. Historical Market Size - in Volume (Million Units) and Value (US$ Bn), 2021-2024
- 4.9.2. Current and Future Market Size - in Volume (Million Units) and Value (US$ Bn), 2025–2035
- 4.9.2.1. Y-o-Y Growth Trends
- 4.9.2.2. Absolute $ Opportunity Assessment
- 4.1. Market Dynamics
- 5. Competition Landscape
- 5.1. Competition structure
- 5.1.1. Fragmented v/s consolidated
- 5.2. Company Share Analysis, 2025
- 5.2.1. Global Company Market Share
- 5.2.2. By Region
- 5.2.2.1. North America
- 5.2.2.2. Europe
- 5.2.2.3. Asia Pacific
- 5.2.2.4. Middle East
- 5.2.2.5. Africa
- 5.2.2.6. South America
- 5.3. Product Comparison Matrix
- 5.3.1. Specifications
- 5.3.2. Market Positioning
- 5.3.3. Pricing
- 5.1. Competition structure
- 6. Global Narrowband IoT Market Analysis, by Component
- 6.1. Key Segment Analysis
- 6.2. Narrowband IoT Market Size (Volume - Million Units and Value - US$ Bn), Analysis, and Forecasts, by Component, 2021-2035
- 6.2.1. Hardware
- 6.2.1.1. NB-IoT Modules
- 6.2.1.2. Sensors and Actuators
- 6.2.1.3. Gateways
- 6.2.1.4. Others
- 6.2.2. Software
- 6.2.2.1. Network Management Software
- 6.2.2.2. Device Management Software
- 6.2.2.3. Application Enablement Platforms
- 6.2.2.4. Others
- 6.2.3. Services
- 6.2.3.1. Professional Services
- 6.2.3.1.1. Deployment and Integration
- 6.2.3.1.2. Consulting
- 6.2.3.1.3. Support and Maintenance
- 6.2.3.2. Managed Services
- 6.2.3.1. Professional Services
- 6.2.1. Hardware
- 7. Global Narrowband IoT Market Analysis, by Deployment Mode
- 7.1. Key Segment Analysis
- 7.2. Narrowband IoT Market Size (Volume - Million Units and Value - US$ Bn), Analysis, and Forecasts, by Deployment Mode, 2021-2035
- 7.2.1. Standalone
- 7.2.2. In-band
- 7.2.3. Guard Band
- 8. Global Narrowband IoT Market Analysis, by Device Type
- 8.1. Key Segment Analysis
- 8.2. Narrowband IoT Market Size (Volume - Million Units and Value - US$ Bn), Analysis, and Forecasts, by Device Type, 2021-2035
- 8.2.1. Wearable Devices
- 8.2.2. Smart Meters
- 8.2.3. Trackers
- 8.2.4. Alarms & Detectors
- 8.2.5. Monitoring Cameras
- 8.2.6. Environmental Sensors
- 8.2.7. Others (e.g., remote controls, HVAC devices)
- 9. Global Narrowband IoT Market Analysis, by End-Use Industry × Application
- 9.1. Key Segment Analysis
- 9.2. Narrowband IoT Market Size (Volume - Million Units and Value - US$ Bn), Analysis, and Forecasts, by End-Use Industry × Application, 2021-2035
- 9.2.1. Utilities
- 9.2.1.1. Smart Electricity Metering
- 9.2.1.2. Smart Water/Gas Metering
- 9.2.1.3. Remote Valve Control
- 9.2.1.4. Pipeline Monitoring
- 9.2.1.5. Energy Usage Optimization
- 9.2.1.6. Others
- 9.2.2. Transportation & Logistics
- 9.2.2.1. Fleet Management
- 9.2.2.2. Vehicle Tracking & Telematics
- 9.2.2.3. Container & Cargo Monitoring
- 9.2.2.4. Cold Chain Monitoring
- 9.2.2.5. Smart Parking Systems
- 9.2.2.6. Predictive Maintenance of Vehicles
- 9.2.2.7. Others
- 9.2.3. Healthcare
- 9.2.3.1. Remote Patient Monitoring (RPM)
- 9.2.3.2. Wearable Health Devices
- 9.2.3.3. Elderly Safety Monitoring
- 9.2.3.4. Emergency Medical Alerts
- 9.2.3.5. Connected Medical Equipment Tracking
- 9.2.3.6. Others
- 9.2.4. Manufacturing & Industrial
- 9.2.4.1. Asset Tracking & Inventory Management
- 9.2.4.2. Predictive Maintenance for Equipment
- 9.2.4.3. Process Automation & Control
- 9.2.4.4. Condition Monitoring (e.g., temperature, vibration)
- 9.2.4.5. Workplace Safety Monitoring
- 9.2.4.6. Others
- 9.2.5. Agriculture
- 9.2.5.1. Soil Moisture and Nutrient Monitoring
- 9.2.5.2. Weather Station Connectivity
- 9.2.5.3. Livestock Tracking
- 9.2.5.4. Remote Irrigation Management
- 9.2.5.5. Crop Health Monitoring
- 9.2.5.6. Pest Detection & Control
- 9.2.5.7. Others
- 9.2.6. Smart Cities
- 9.2.6.1. Street Lighting Control
- 9.2.6.2. Smart Parking Management
- 9.2.6.3. Waste Bin Monitoring
- 9.2.6.4. Environmental Pollution Monitoring
- 9.2.6.5. Noise and Air Quality Sensors
- 9.2.6.6. Public Safety & Surveillance Systems
- 9.2.6.7. Others
- 9.2.7. Retail
- 9.2.7.1. Smart Shelf Monitoring
- 9.2.7.2. Cold Storage & Freezer Monitoring
- 9.2.7.3. Foot Traffic Analysis in Stores
- 9.2.7.4. Smart Vending Machines
- 9.2.7.5. Inventory and Supply Chain Monitoring
- 9.2.7.6. Others
- 9.2.8. Government & Public Safety
- 9.2.8.1. Disaster Alert Systems (earthquake, flood sensors)
- 9.2.8.2. Citizen Safety Alerts
- 9.2.8.3. Surveillance Systems
- 9.2.8.4. Utility Infrastructure Monitoring
- 9.2.8.5. Smart Street Lighting
- 9.2.8.6. Others
- 9.2.9. Energy, Oil & Gas
- 9.2.9.1. Remote Pipeline Monitoring
- 9.2.9.2. Leak Detection Systems
- 9.2.9.3. Wellhead Monitoring
- 9.2.9.4. Environmental Hazard Detection
- 9.2.9.5. Oil Tank Level Monitoring
- 9.2.9.6. Others
- 9.2.10. Construction & Real Estate
- 9.2.10.1. HVAC and Lighting Control in Smart Buildings
- 9.2.10.2. Occupancy Monitoring
- 9.2.10.3. Smart Security Systems
- 9.2.10.4. Remote Equipment Monitoring
- 9.2.10.5. Energy Usage Optimization in Buildings
- 9.2.10.6. Others
- 9.2.11. Consumer Electronics
- 9.2.11.1. Connected Home Devices (e.g., smoke detectors, thermostats)
- 9.2.11.2. Smart Wearables (fitness bands, smartwatches)
- 9.2.11.3. Appliance Monitoring & Alerts
- 9.2.11.4. Home Security Systems
- 9.2.11.5. Others
- 9.2.12. Other End Use Industry
- 9.2.1. Utilities
- 10. Global Narrowband IoT Market Analysis and Forecasts, by Region
- 10.1. Key Findings
- 10.2. Narrowband IoT Market Size (Volume - Mn Units and Value - US$ Mn), Analysis, and Forecasts, by Region, 2021-2035
- 10.2.1. North America
- 10.2.2. Europe
- 10.2.3. Asia Pacific
- 10.2.4. Middle East
- 10.2.5. Africa
- 10.2.6. South America
- 11. North America Narrowband IoT Market Analysis
- 11.1. Key Segment Analysis
- 11.2. Regional Snapshot
- 11.3. North America Narrowband IoT Market Size Volume - Million Units and Value - US$ Bn), Analysis, and Forecasts, 2021-2035
- 11.3.1. Component
- 11.3.2. Deployment Mode
- 11.3.3. Device Type
- 11.3.4. End-Use Industry × Application
- 11.3.5. Country
- 11.3.5.1. USA
- 11.3.5.2. Canada
- 11.3.5.3. Mexico
- 11.4. USA Narrowband IoT Market
- 11.4.1. Country Segmental Analysis
- 11.4.2. Component
- 11.4.3. Deployment Mode
- 11.4.4. Device Type
- 11.4.5. End-Use Industry × Application
- 11.5. Canada Narrowband IoT Market
- 11.5.1. Country Segmental Analysis
- 11.5.2. Component
- 11.5.3. Deployment Mode
- 11.5.4. Device Type
- 11.5.5. End-Use Industry × Application
- 11.6. Mexico Narrowband IoT Market
- 11.6.1. Country Segmental Analysis
- 11.6.2. Component
- 11.6.3. Deployment Mode
- 11.6.4. Device Type
- 11.6.5. End-Use Industry × Application
- 12. Europe Narrowband IoT Market Analysis
- 12.1. Key Segment Analysis
- 12.2. Regional Snapshot
- 12.3. Europe Narrowband IoT Market Size (Volume - Million Units and Value - US$ Bn), Analysis, and Forecasts, 2021-2035
- 12.3.1. Component
- 12.3.2. Deployment Mode
- 12.3.3. Device Type
- 12.3.4. End-Use Industry × Application
- 12.3.5. Country
- 12.3.5.1. Germany
- 12.3.5.2. United Kingdom
- 12.3.5.3. France
- 12.3.5.4. Italy
- 12.3.5.5. Spain
- 12.3.5.6. Netherlands
- 12.3.5.7. Nordic Countries
- 12.3.5.8. Poland
- 12.3.5.9. Russia & CIS
- 12.3.5.10. Rest of Europe
- 12.4. Germany Narrowband IoT Market
- 12.4.1. Country Segmental Analysis
- 12.4.2. Component
- 12.4.3. Deployment Mode
- 12.4.4. Device Type
- 12.4.5. End-Use Industry × Application
- 12.5. United Kingdom Narrowband IoT Market
- 12.5.1. Country Segmental Analysis
- 12.5.2. Component
- 12.5.3. Deployment Mode
- 12.5.4. Device Type
- 12.5.5. End-Use Industry × Application
- 12.6. France Narrowband IoT Market
- 12.6.1. Country Segmental Analysis
- 12.6.2. Component
- 12.6.3. Deployment Mode
- 12.6.4. Device Type
- 12.6.5. End-Use Industry × Application
- 12.7. Italy Narrowband IoT Market
- 12.7.1. Country Segmental Analysis
- 12.7.2. Component
- 12.7.3. Deployment Mode
- 12.7.4. Device Type
- 12.7.5. End-Use Industry × Application
- 12.8. Spain Narrowband IoT Market
- 12.8.1. Country Segmental Analysis
- 12.8.2. Component
- 12.8.3. Deployment Mode
- 12.8.4. Device Type
- 12.8.5. End-Use Industry × Application
- 12.9. Netherlands Narrowband IoT Market
- 12.9.1. Country Segmental Analysis
- 12.9.2. Component
- 12.9.3. Deployment Mode
- 12.9.4. Device Type
- 12.9.5. End-Use Industry × Application
- 12.10. Nordic Countries Narrowband IoT Market
- 12.10.1. Country Segmental Analysis
- 12.10.2. Component
- 12.10.3. Deployment Mode
- 12.10.4. Device Type
- 12.10.5. End-Use Industry × Application
- 12.11. Poland Narrowband IoT Market
- 12.11.1. Country Segmental Analysis
- 12.11.2. Component
- 12.11.3. Deployment Mode
- 12.11.4. Device Type
- 12.11.5. End-Use Industry × Application
- 12.12. Russia & CIS Narrowband IoT Market
- 12.12.1. Country Segmental Analysis
- 12.12.2. Component
- 12.12.3. Deployment Mode
- 12.12.4. Device Type
- 12.12.5. End-Use Industry × Application
- 12.13. Rest of Europe Narrowband IoT Market
- 12.13.1. Country Segmental Analysis
- 12.13.2. Component
- 12.13.3. Deployment Mode
- 12.13.4. Device Type
- 12.13.5. End-Use Industry × Application
- 13. Asia Pacific Narrowband IoT Market Analysis
- 13.1. Key Segment Analysis
- 13.2. Regional Snapshot
- 13.3. East Asia Narrowband IoT Market Size (Volume - Million Units and Value - US$ Bn), Analysis, and Forecasts, 2021-2035
- 13.3.1. Component
- 13.3.2. Deployment Mode
- 13.3.3. Device Type
- 13.3.4. End-Use Industry × Application
- 13.3.5. Country
- 13.3.5.1. China
- 13.3.5.2. India
- 13.3.5.3. Japan
- 13.3.5.4. South Korea
- 13.3.5.5. Australia and New Zealand
- 13.3.5.6. Indonesia
- 13.3.5.7. Malaysia
- 13.3.5.8. Thailand
- 13.3.5.9. Vietnam
- 13.3.5.10. Rest of Asia Pacific
- 13.4. China Narrowband IoT Market
- 13.4.1. Country Segmental Analysis
- 13.4.2. Component
- 13.4.3. Deployment Mode
- 13.4.4. Device Type
- 13.4.5. End-Use Industry × Application
- 13.5. India Narrowband IoT Market
- 13.5.1. Country Segmental Analysis
- 13.5.2. Component
- 13.5.3. Deployment Mode
- 13.5.4. Device Type
- 13.5.5. End-Use Industry × Application
- 13.6. Japan Narrowband IoT Market
- 13.6.1. Country Segmental Analysis
- 13.6.2. Component
- 13.6.3. Deployment Mode
- 13.6.4. Device Type
- 13.6.5. End-Use Industry × Application
- 13.7. South Korea Narrowband IoT Market
- 13.7.1. Country Segmental Analysis
- 13.7.2. Component
- 13.7.3. Deployment Mode
- 13.7.4. Device Type
- 13.7.5. End-Use Industry × Application
- 13.8. Australia and New Zealand Narrowband IoT Market
- 13.8.1. Country Segmental Analysis
- 13.8.2. Component
- 13.8.3. Deployment Mode
- 13.8.4. Device Type
- 13.8.5. End-Use Industry × Application
- 13.9. Indonesia Narrowband IoT Market
- 13.9.1. Country Segmental Analysis
- 13.9.2. Component
- 13.9.3. Deployment Mode
- 13.9.4. Device Type
- 13.9.5. End-Use Industry × Application
- 13.10. Malaysia Narrowband IoT Market
- 13.10.1. Country Segmental Analysis
- 13.10.2. Component
- 13.10.3. Deployment Mode
- 13.10.4. Device Type
- 13.10.5. End-Use Industry × Application
- 13.11. Thailand Narrowband IoT Market
- 13.11.1. Country Segmental Analysis
- 13.11.2. Component
- 13.11.3. Deployment Mode
- 13.11.4. Device Type
- 13.11.5. End-Use Industry × Application
- 13.12. Vietnam Narrowband IoT Market
- 13.12.1. Country Segmental Analysis
- 13.12.2. Component
- 13.12.3. Deployment Mode
- 13.12.4. Device Type
- 13.12.5. End-Use Industry × Application
- 13.13. Rest of Asia Pacific Narrowband IoT Market
- 13.13.1. Country Segmental Analysis
- 13.13.2. Component
- 13.13.3. Deployment Mode
- 13.13.4. Device Type
- 13.13.5. End-Use Industry × Application
- 14. Middle East Narrowband IoT Market Analysis
- 14.1. Key Segment Analysis
- 14.2. Regional Snapshot
- 14.3. Middle East Narrowband IoT Market Size (Volume - Million Units and Value - US$ Bn), Analysis, and Forecasts, 2021-2035
- 14.3.1. Component
- 14.3.2. Deployment Mode
- 14.3.3. Device Type
- 14.3.4. End-Use Industry × Application
- 14.3.5. Country
- 14.3.5.1. Turkey
- 14.3.5.2. UAE
- 14.3.5.3. Saudi Arabia
- 14.3.5.4. Israel
- 14.3.5.5. Rest of Middle East
- 14.4. Turkey Narrowband IoT Market
- 14.4.1. Country Segmental Analysis
- 14.4.2. Component
- 14.4.3. Deployment Mode
- 14.4.4. Device Type
- 14.4.5. End-Use Industry × Application
- 14.5. UAE Narrowband IoT Market
- 14.5.1. Country Segmental Analysis
- 14.5.2. Component
- 14.5.3. Deployment Mode
- 14.5.4. Device Type
- 14.5.5. End-Use Industry × Application
- 14.6. Saudi Arabia Narrowband IoT Market
- 14.6.1. Country Segmental Analysis
- 14.6.2. Component
- 14.6.3. Deployment Mode
- 14.6.4. Device Type
- 14.6.5. End-Use Industry × Application
- 14.7. Israel Narrowband IoT Market
- 14.7.1. Country Segmental Analysis
- 14.7.2. Component
- 14.7.3. Deployment Mode
- 14.7.4. Device Type
- 14.7.5. End-Use Industry × Application
- 14.8. Rest of Middle East Narrowband IoT Market
- 14.8.1. Country Segmental Analysis
- 14.8.2. Component
- 14.8.3. Deployment Mode
- 14.8.4. Device Type
- 14.8.5. End-Use Industry × Application
- 15. Africa Narrowband IoT Market Analysis
- 15.1. Key Segment Analysis
- 15.2. Regional Snapshot
- 15.3. Africa Narrowband IoT Market Size (Volume - Million Units and Value - US$ Bn), Analysis, and Forecasts, 2021-2035
- 15.3.1. Component
- 15.3.2. Deployment Mode
- 15.3.3. Device Type
- 15.3.4. End-Use Industry × Application
- 15.3.5. Country
- 15.3.5.1. South Africa
- 15.3.5.2. Egypt
- 15.3.5.3. Nigeria
- 15.3.5.4. Algeria
- 15.3.5.5. Rest of Africa
- 15.4. South Africa Narrowband IoT Market
- 15.4.1. Country Segmental Analysis
- 15.4.2. Component
- 15.4.3. Deployment Mode
- 15.4.4. Device Type
- 15.4.5. End-Use Industry × Application
- 15.5. Egypt Narrowband IoT Market
- 15.5.1. Country Segmental Analysis
- 15.5.2. Component
- 15.5.3. Deployment Mode
- 15.5.4. Device Type
- 15.5.5. End-Use Industry × Application
- 15.6. Nigeria Narrowband IoT Market
- 15.6.1. Country Segmental Analysis
- 15.6.2. Component
- 15.6.3. Deployment Mode
- 15.6.4. Device Type
- 15.6.5. End-Use Industry × Application
- 15.7. Algeria Narrowband IoT Market
- 15.7.1. Country Segmental Analysis
- 15.7.2. Component
- 15.7.3. Deployment Mode
- 15.7.4. Device Type
- 15.7.5. End-Use Industry × Application
- 15.8. Rest of Africa Narrowband IoT Market
- 15.8.1. Country Segmental Analysis
- 15.8.2. Component
- 15.8.3. Deployment Mode
- 15.8.4. Device Type
- 15.8.5. End-Use Industry × Application
- 16. South America Narrowband IoT Market Analysis
- 16.1. Key Segment Analysis
- 16.2. Regional Snapshot
- 16.3. Central and South Africa Narrowband IoT Market Size (Volume - Million Units and Value - US$ Bn), Analysis, and Forecasts, 2021-2035
- 16.3.1. Component
- 16.3.2. Deployment Mode
- 16.3.3. Device Type
- 16.3.4. End-Use Industry × Application
- 16.3.5. Country
- 16.3.5.1. Brazil
- 16.3.5.2. Argentina
- 16.3.5.3. Rest of South America
- 16.4. Brazil Narrowband IoT Market
- 16.4.1. Country Segmental Analysis
- 16.4.2. Component
- 16.4.3. Deployment Mode
- 16.4.4. Device Type
- 16.4.5. End-Use Industry × Application
- 16.5. Argentina Narrowband IoT Market
- 16.5.1. Country Segmental Analysis
- 16.5.2. Component
- 16.5.3. Deployment Mode
- 16.5.4. Device Type
- 16.5.5. End-Use Industry × Application
- 16.6. Rest of South America Narrowband IoT Market
- 16.6.1. Country Segmental Analysis
- 16.6.2. Component
- 16.6.3. Deployment Mode
- 16.6.4. Device Type
- 16.6.5. End-Use Industry × Application
- 17. Key Players/ Company Profile
- 17.1. AT&T Inc.
- 17.1.1. Company Details/ Overview
- 17.1.2. Company Financials
- 17.1.3. Key Customers and Competitors
- 17.1.4. Business/ Industry Portfolio
- 17.1.5. Product Portfolio/ Specification Details
- 17.1.6. Pricing Data
- 17.1.7. Strategic Overview
- 17.1.8. Recent Developments
- 17.2. China Mobile Limited
- 17.3. China Unicom
- 17.4. Deutsche Telekom AG
- 17.5. Ericsson AB
- 17.6. Huawei Technologies Co., Ltd.
- 17.7. Intel Corporation
- 17.8. Nokia Corporation
- 17.9. Qualcomm Technologies, Inc.
- 17.10. Quectel Wireless Solutions Co., Ltd.
- 17.11. Samsung Electronics Co., Ltd.
- 17.12. Sequans Communications S.A.
- 17.13. Sierra Wireless, Inc.
- 17.14. SIMCom Wireless Solutions Co., Ltd.
- 17.15. Telit Communications PLC
- 17.16. T-Mobile US, Inc.
- 17.17. u-blox Holding AG
- 17.18. Verizon Communications Inc.
- 17.19. Vodafone Group Plc
- 17.20. ZTE Corporation
- 17.21. Other Key Players
- 17.1. AT&T Inc.
Note* - This is just tentative list of players. While providing the report, we will cover more number of players based on their revenue and share for each geography
Our research design integrates both demand-side and supply-side analysis through a balanced combination of primary and secondary research methodologies. By utilizing both bottom-up and top-down approaches alongside rigorous data triangulation methods, we deliver robust market intelligence that supports strategic decision-making.
MarketGenics' comprehensive research design framework ensures the delivery of accurate, reliable, and actionable market intelligence. Through the integration of multiple research approaches, rigorous validation processes, and expert analysis, we provide our clients with the insights needed to make informed strategic decisions and capitalize on market opportunities.
MarketGenics leverages a dedicated industry panel of experts and a comprehensive suite of paid databases to effectively collect, consolidate, and analyze market intelligence.
Our approach has consistently proven to be reliable and effective in generating accurate market insights, identifying key industry trends, and uncovering emerging business opportunities.
Through both primary and secondary research, we capture and analyze critical company-level data such as manufacturing footprints, including technical centers, R&D facilities, sales offices, and headquarters.
Our expert panel further enhances our ability to estimate market size for specific brands based on validated field-level intelligence.
Our data mining techniques incorporate both parametric and non-parametric methods, allowing for structured data collection, sorting, processing, and cleaning.
Demand projections are derived from large-scale data sets analyzed through proprietary algorithms, culminating in robust and reliable market sizing.
The bottom-up approach builds market estimates by starting with the smallest addressable market units and systematically aggregating them to create comprehensive market size projections.
This method begins with specific, granular data points and builds upward to create the complete market landscape.
Customer Analysis → Segmental Analysis → Geographical Analysis
The top-down approach starts with the broadest possible market data and systematically narrows it down through a series of filters and assumptions to arrive at specific market segments or opportunities.
This method begins with the big picture and works downward to increasingly specific market slices.
TAM → SAM → SOM
While analysing the market, we extensively study secondary sources, directories, and databases to identify and collect information useful for this technical, market-oriented, and commercial report. Secondary sources that we utilize are not only the public sources, but it is combination of Open Source, Associations, Paid Databases, MG Repository & Knowledgebase and Others.
- Company websites, annual reports, financial reports, broker reports, and investor presentations
- National government documents, statistical databases and reports
- News articles, press releases and web-casts specific to the companies operating in the market, Magazines, reports, and others
- We gather information from commercial data sources for deriving company specific data such as segmental revenue, share for geography, product revenue, and others
- Internal and external proprietary databases (industry-specific), relevant patent, and regulatory databases
- Governing Bodies, Government Organizations
- Relevant Authorities, Country-specific Associations for Industries
We also employ the model mapping approach to estimate the product level market data through the players product portfolio
Primary research/ interviews is vital in analyzing the market. Most of the cases involves paid primary interviews. Primary sources includes primary interviews through e-mail interactions, telephonic interviews, surveys as well as face-to-face interviews with the different stakeholders across the value chain including several industry experts.
| Type of Respondents | Number of Primaries |
|---|---|
| Tier 2/3 Suppliers | ~20 |
| Tier 1 Suppliers | ~25 |
| End-users | ~25 |
| Industry Expert/ Panel/ Consultant | ~30 |
| Total | ~100 |
MG Knowledgebase
• Repository of industry blog, newsletter and case studies
• Online platform covering detailed market reports, and company profiles
- Historical Trends – Past market patterns, cycles, and major events that shaped how markets behave over time. Understanding past trends helps predict future behavior.
- Industry Factors – Specific characteristics of the industry like structure, regulations, and innovation cycles that affect market dynamics.
- Macroeconomic Factors – Economic conditions like GDP growth, inflation, and employment rates that affect how much money people have to spend.
- Demographic Factors – Population characteristics like age, income, and location that determine who can buy your product.
- Technology Factors – How quickly people adopt new technology and how much technology infrastructure exists.
- Regulatory Factors – Government rules, laws, and policies that can help or restrict market growth.
- Competitive Factors – Analyzing competition structure such as degree of competition and bargaining power of buyers and suppliers.
Multiple Regression Analysis
- Identify and quantify factors that drive market changes
- Statistical modeling to establish relationships between market drivers and outcomes
Time Series Analysis – Seasonal Patterns
- Understand regular cyclical patterns in market demand
- Advanced statistical techniques to separate trend, seasonal, and irregular components
Time Series Analysis – Trend Analysis
- Identify underlying market growth patterns and momentum
- Statistical analysis of historical data to project future trends
Expert Opinion – Expert Interviews
- Gather deep industry insights and contextual understanding
- In-depth interviews with key industry stakeholders
Multi-Scenario Development
- Prepare for uncertainty by modeling different possible futures
- Creating optimistic, pessimistic, and most likely scenarios
Time Series Analysis – Moving Averages
- Sophisticated forecasting for complex time series data
- Auto-regressive integrated moving average models with seasonal components
Econometric Models
- Apply economic theory to market forecasting
- Sophisticated economic models that account for market interactions
Expert Opinion – Delphi Method
- Harness collective wisdom of industry experts
- Structured, multi-round expert consultation process
Monte Carlo Simulation
- Quantify uncertainty and probability distributions
- Thousands of simulations with varying input parameters
Our research framework is built upon the fundamental principle of validating market intelligence from both demand and supply perspectives. This dual-sided approach ensures comprehensive market understanding and reduces the risk of single-source bias.
Demand-Side Analysis: We understand end-user/application behavior, preferences, and market needs along with the penetration of the product for specific application.
Supply-Side Analysis: We estimate overall market revenue, analyze the segmental share along with industry capacity, competitive landscape, and market structure.
Data triangulation is a validation technique that uses multiple methods, sources, or perspectives to examine the same research question, thereby increasing the credibility and reliability of research findings. In market research, triangulation serves as a quality assurance mechanism that helps identify and minimize bias, validate assumptions, and ensure accuracy in market estimates.
- Data Source Triangulation – Using multiple data sources to examine the same phenomenon
- Methodological Triangulation – Using multiple research methods to study the same research question
- Investigator Triangulation – Using multiple researchers or analysts to examine the same data
- Theoretical Triangulation – Using multiple theoretical perspectives to interpret the same data
