(MENAFN- GetNews) The Narrowband - IoT Market is projected to harness an unprecedented CAGR of 50 % roughly in the course of the forecast period.
Narrowband - IoT Market Overview
The minimal amount of sporadic data transfers over a longer period of times are shaping the development of the narrowband- IoT market globally. Reports that review the information and communication technology industry has been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects.
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The surging interest and application rates of IoT are expected to create a favorable outlook for the development of the narrowband- IoT market. As the necessity to establish secure networks that enable secure connections rises, the narrowband- IoT market is expected to profit from this demand upsurge in the coming years. Moreover, the demand for navigation and telematics, among others, is expected to raise the development of the market in the coming period.
Key Players
The outstanding competitors in the Narrowband- IoT market are Emirates Telecommunications Corporation (UAE), Huawei Technologies Co. Ltd. (China), Vodafone Group PLC (U.K.), Qualcomm Inc. (U.S.), Telecom Italia (Italy), Intel Corporation (U.S.), China Unicom (China), Nokia Networks (Finland), Ericsson (Sweden), and Verizon Communication (U.S.) among others.
Industry Updates:
Aug 2019 Reliance Jio is planning to set up 1 billion connections running over its narrowband IoT LTE network (NB-IoT) in the coming two years, as it gets ready to unveil the service in January 2020. The firm will have NB-IoT technology functioning on its pan-India 4G network in the first half of the next year. Its opponents Vodafone India and Bharti Airtel are both preparing to launch NB-IoT across India in 2020.
July 2019 South East Water has formed a collaboration with Vodafone on a pilot that the water company believes is likely to transform leakage detection and prevention. The trial underway in Kent presently will progress for a year and is the first in the UK to consist of Narrowband Internet of Things (NB-IoT) as a segment of its smart water network. Vodafone and South East Water are working with partners to build and link specialist sensors, digital water meters, and acoustic loggers on underground mains water piping through Vodafone's NB-IoT network.
Segmental Analysis
The evaluation of the segments in the narrowband- IoT market has have been done on the basis of device, deployment, region, and verticals. The segmentation of the narrowband- IoT market based on deployment comprises of in-band, guard band, and stand-alone. On the basis of device type, the narrowband- IoT market has been segmented into tracker, alarm & detectors, smart metering, wearable, tracking, among others. Based on the vertical, the narrowband- IoT market comprises of agriculture, IT, manufacturing, healthcare, automotive & logistics, and energy & utilities, among others.
Detailed Regional Analysis
The regional appraisal of the narrowband- IoT market includes regions such as North America, Europe, Asia, and Rest of the World. The North American region is controlling the market of narrowband - IoT market owing to the growing adoption of IoT and cloud-based services in this region. The increasing demand for effective and low-cost connectivity technology in this region is also reinforcing the market for narrowband - IoT market. The European region is also anticipated to list strong growth in the narrowband - IoT market owing to the growing application of the narrowband - IoT market in automotive & transportation division in the region. Moreover, the Asia Pacific region is developing at an accelerated rate owing to the several government initiatives for smart cities in India and China.
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Competitive Analysis
The market is being defined by the driving forces that are exerting an authoritative influence. The upgrading of the production facilities is anticipated further the market's growth pace in the coming years. Moreover, breakthroughs in technology are expected to exert a positive influence on the development of the market. The impact of governmental plans is inspiring additional progress in the market. The improvements in the logistic chain are expected to create favorable prospects for growth in the coming period. The improvements in the extraction of natural resources are further reinforcing market expansion. The development of alternative raw material sources is expected to further address the supply demands in the market. The fluxes in the currency are projected to steady and therefore leave a favorable effect on the market. The advancement of investment into physical capital is anticipated to reinforce the market's expansion in the forecast period.
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