Product Code: ETC13341568 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Summon Dutta | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Narrowband IoT Market was valued at USD 3.9 Billion in 2024 and is expected to reach USD 10.2 Billion by 2031, growing at a compound annual growth rate of 9.92% during the forecast period (2025-2031).
The Global Narrowband IoT (NB-IoT) Market is experiencing rapid growth driven by the increasing adoption of IoT devices across various industries. NB-IoT technology offers cost-effective and energy-efficient connectivity solutions for a wide range of applications such as smart metering, asset tracking, and environmental monitoring. Key market players are investing in research and development to enhance NB-IoT capabilities, improve network coverage, and ensure interoperability with existing infrastructure. The market is witnessing significant deployment in urban areas for smart city initiatives and in rural regions for agriculture and utilities monitoring. Government initiatives promoting IoT adoption, along with advancements in telecommunications infrastructure, are expected to further drive the growth of the Global NB-IoT Market in the coming years.
The Global Narrowband IoT (NB-IoT) market is experiencing significant growth propelled by the increasing adoption of IoT technology across various industries. Key trends driving this growth include the rising demand for low-power, wide-area network solutions, the expansion of smart cities and connected infrastructure projects, and the proliferation of connected devices. Opportunities in the NB-IoT market lie in the development of innovative applications such as smart metering, asset tracking, and remote monitoring, as well as the deployment of NB-IoT networks in emerging markets. With the potential to enable cost-effective and efficient connectivity for a wide range of IoT applications, the Global NB-IoT market is poised for continued expansion and offers promising prospects for industry players looking to capitalize on this growing technology segment.
The Global Narrowband IoT (NB-IoT) market faces several challenges, including the lack of uniform standards among different regions and industries, which can hinder interoperability and widespread adoption. Additionally, the deployment of NB-IoT infrastructure requires significant investments in upgrading existing networks and implementing new technologies, which may pose financial challenges for some organizations. Security and privacy concerns are also prominent in the NB-IoT market, as the large volume of connected devices creates potential vulnerabilities that need to be addressed. Furthermore, regulatory issues related to spectrum allocation and licensing can impact the growth of NB-IoT services, leading to a fragmented market landscape. Overall, overcoming these challenges will be crucial for the successful development and expansion of the Global NB-IoT market.
The Global Narrowband IoT (NB-IoT) market is being primarily driven by the increasing demand for low-power, wide-area connectivity solutions for Internet of Things (IoT) applications. The efficient use of spectrum and extended coverage capabilities of NB-IoT technology make it ideal for connecting a large number of devices in smart cities, industrial automation, and agriculture sectors. Additionally, the growing adoption of NB-IoT for asset tracking, smart metering, and other IoT use cases is fueling market growth. Furthermore, the push towards 5G networks and the development of NB-IoT standards by telecom operators and technology companies are also contributing to the expansion of the Global NB-IoT market. The cost-effectiveness, energy efficiency, and scalability of NB-IoT solutions are further driving its adoption across various industries.
Government policies related to the Global Narrowband IoT Market vary by country but generally focus on promoting the deployment and adoption of NB-IoT technology through regulatory frameworks, spectrum allocation, and financial incentives. Many governments have introduced initiatives to support the growth of NB-IoT, such as allocating dedicated spectrum bands, providing tax incentives for IoT investments, and establishing standards and certification programs to ensure interoperability and security. Additionally, some countries have launched smart city projects that leverage NB-IoT technology to improve public services and infrastructure. Overall, government policies aim to create a conducive environment for the development of NB-IoT solutions, fostering innovation and economic growth in the IoT sector.
The Global Narrowband IoT (NB-IoT) market is expected to witness significant growth in the coming years, driven by the increasing adoption of IoT devices across various industries such as healthcare, agriculture, smart cities, and logistics. With its low power consumption, wide coverage, and cost-effectiveness, NB-IoT technology is well-suited for a wide range of applications requiring long-range communication and connectivity. The market is likely to benefit from the ongoing deployment of 5G networks and the growing demand for efficient and reliable IoT solutions. Additionally, the rising trend of smart home devices, asset tracking, and environmental monitoring is expected to further boost the demand for NB-IoT technology. Overall, the Global NB-IoT market is poised for substantial growth and innovation in the near future.
The Global Narrowband IoT market is witnessing significant growth across various regions. In Asia, countries like China and South Korea are leading the adoption of NB-IoT technology in industries such as smart cities and agriculture. North America is experiencing a surge in NB-IoT deployment in sectors like healthcare and logistics, driven by the need for efficient connectivity solutions. In Europe, the focus is on leveraging NB-IoT for smart energy management and environmental monitoring applications. The Middle East and Africa region is seeing increased interest in NB-IoT for improving connectivity in remote areas and enhancing asset tracking capabilities. Latin America is also embracing NB-IoT for applications in smart agriculture and utilities, with countries like Brazil and Mexico leading the way in implementation and innovation.
Global Narrowband IoT Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Narrowband IoT Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Narrowband IoT Market Revenues & Volume, 2021 & 2031F |
3.3 Global Narrowband IoT Market - Industry Life Cycle |
3.4 Global Narrowband IoT Market - Porter's Five Forces |
3.5 Global Narrowband IoT Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Narrowband IoT Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.7 Global Narrowband IoT Market Revenues & Volume Share, By Component, 2021 & 2031F |
3.8 Global Narrowband IoT Market Revenues & Volume Share, By Deployment, 2021 & 2031F |
3.9 Global Narrowband IoT Market Revenues & Volume Share, By End User, 2021 & 2031F |
3.10 Global Narrowband IoT Market Revenues & Volume Share, By Connectivity, 2021 & 2031F |
4 Global Narrowband IoT Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Narrowband IoT Market Trends |
6 Global Narrowband IoT Market, 2021 - 2031 |
6.1 Global Narrowband IoT Market, Revenues & Volume, By Application, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Narrowband IoT Market, Revenues & Volume, By Smart Metering, 2021 - 2031 |
6.1.3 Global Narrowband IoT Market, Revenues & Volume, By Asset Tracking, 2021 - 2031 |
6.1.4 Global Narrowband IoT Market, Revenues & Volume, By Smart Agriculture, 2021 - 2031 |
6.1.5 Global Narrowband IoT Market, Revenues & Volume, By Environmental Monitoring, 2021 - 2031 |
6.1.6 Global Narrowband IoT Market, Revenues & Volume, By Healthcare Monitoring, 2021 - 2031 |
6.2 Global Narrowband IoT Market, Revenues & Volume, By Component, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Narrowband IoT Market, Revenues & Volume, By Modules, 2021 - 2031 |
6.2.3 Global Narrowband IoT Market, Revenues & Volume, By Sensors, 2021 - 2031 |
6.2.4 Global Narrowband IoT Market, Revenues & Volume, By Chipsets, 2021 - 2031 |
6.2.5 Global Narrowband IoT Market, Revenues & Volume, By Antennas, 2021 - 2031 |
6.2.6 Global Narrowband IoT Market, Revenues & Volume, By Gateways, 2021 - 2031 |
6.3 Global Narrowband IoT Market, Revenues & Volume, By Deployment, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Narrowband IoT Market, Revenues & Volume, By On-Premise, 2021 - 2031 |
6.3.3 Global Narrowband IoT Market, Revenues & Volume, By Cloud, 2021 - 2031 |
6.3.4 Global Narrowband IoT Market, Revenues & Volume, By Hybrid, 2021 - 2031 |
6.3.5 Global Narrowband IoT Market, Revenues & Volume, By Public Networks, 2021 - 2031 |
6.3.6 Global Narrowband IoT Market, Revenues & Volume, By Private Networks, 2021 - 2031 |
6.4 Global Narrowband IoT Market, Revenues & Volume, By End User, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Narrowband IoT Market, Revenues & Volume, By Utilities, 2021 - 2031 |
6.4.3 Global Narrowband IoT Market, Revenues & Volume, By Transportation, 2021 - 2031 |
6.4.4 Global Narrowband IoT Market, Revenues & Volume, By Agriculture, 2021 - 2031 |
6.4.5 Global Narrowband IoT Market, Revenues & Volume, By Government, 2021 - 2031 |
6.4.6 Global Narrowband IoT Market, Revenues & Volume, By Healthcare, 2021 - 2031 |
6.5 Global Narrowband IoT Market, Revenues & Volume, By Connectivity, 2021 - 2031 |
6.5.1 Overview & Analysis |
6.5.2 Global Narrowband IoT Market, Revenues & Volume, By Cellular, 2021 - 2031 |
6.5.3 Global Narrowband IoT Market, Revenues & Volume, By Narrowband, 2021 - 2031 |
6.5.4 Global Narrowband IoT Market, Revenues & Volume, By Low Power, 2021 - 2031 |
6.5.5 Global Narrowband IoT Market, Revenues & Volume, By Wireless, 2021 - 2031 |
6.5.6 Global Narrowband IoT Market, Revenues & Volume, By Long-Range, 2021 - 2031 |
7 North America Narrowband IoT Market, Overview & Analysis |
7.1 North America Narrowband IoT Market Revenues & Volume, 2021 - 2031 |
7.2 North America Narrowband IoT Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Narrowband IoT Market, Revenues & Volume, By Application, 2021 - 2031 |
7.4 North America Narrowband IoT Market, Revenues & Volume, By Component, 2021 - 2031 |
7.5 North America Narrowband IoT Market, Revenues & Volume, By Deployment, 2021 - 2031 |
7.6 North America Narrowband IoT Market, Revenues & Volume, By End User, 2021 - 2031 |
7.7 North America Narrowband IoT Market, Revenues & Volume, By Connectivity, 2021 - 2031 |
8 Latin America (LATAM) Narrowband IoT Market, Overview & Analysis |
8.1 Latin America (LATAM) Narrowband IoT Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Narrowband IoT Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Narrowband IoT Market, Revenues & Volume, By Application, 2021 - 2031 |
8.4 Latin America (LATAM) Narrowband IoT Market, Revenues & Volume, By Component, 2021 - 2031 |
8.5 Latin America (LATAM) Narrowband IoT Market, Revenues & Volume, By Deployment, 2021 - 2031 |
8.6 Latin America (LATAM) Narrowband IoT Market, Revenues & Volume, By End User, 2021 - 2031 |
8.7 Latin America (LATAM) Narrowband IoT Market, Revenues & Volume, By Connectivity, 2021 - 2031 |
9 Asia Narrowband IoT Market, Overview & Analysis |
9.1 Asia Narrowband IoT Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Narrowband IoT Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Narrowband IoT Market, Revenues & Volume, By Application, 2021 - 2031 |
9.4 Asia Narrowband IoT Market, Revenues & Volume, By Component, 2021 - 2031 |
9.5 Asia Narrowband IoT Market, Revenues & Volume, By Deployment, 2021 - 2031 |
9.6 Asia Narrowband IoT Market, Revenues & Volume, By End User, 2021 - 2031 |
9.7 Asia Narrowband IoT Market, Revenues & Volume, By Connectivity, 2021 - 2031 |
10 Africa Narrowband IoT Market, Overview & Analysis |
10.1 Africa Narrowband IoT Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Narrowband IoT Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Narrowband IoT Market, Revenues & Volume, By Application, 2021 - 2031 |
10.4 Africa Narrowband IoT Market, Revenues & Volume, By Component, 2021 - 2031 |
10.5 Africa Narrowband IoT Market, Revenues & Volume, By Deployment, 2021 - 2031 |
10.6 Africa Narrowband IoT Market, Revenues & Volume, By End User, 2021 - 2031 |
10.7 Africa Narrowband IoT Market, Revenues & Volume, By Connectivity, 2021 - 2031 |
11 Europe Narrowband IoT Market, Overview & Analysis |
11.1 Europe Narrowband IoT Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Narrowband IoT Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Narrowband IoT Market, Revenues & Volume, By Application, 2021 - 2031 |
11.4 Europe Narrowband IoT Market, Revenues & Volume, By Component, 2021 - 2031 |
11.5 Europe Narrowband IoT Market, Revenues & Volume, By Deployment, 2021 - 2031 |
11.6 Europe Narrowband IoT Market, Revenues & Volume, By End User, 2021 - 2031 |
11.7 Europe Narrowband IoT Market, Revenues & Volume, By Connectivity, 2021 - 2031 |
12 Middle East Narrowband IoT Market, Overview & Analysis |
12.1 Middle East Narrowband IoT Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Narrowband IoT Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Narrowband IoT Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Narrowband IoT Market, Revenues & Volume, By Application, 2021 - 2031 |
12.4 Middle East Narrowband IoT Market, Revenues & Volume, By Component, 2021 - 2031 |
12.5 Middle East Narrowband IoT Market, Revenues & Volume, By Deployment, 2021 - 2031 |
12.6 Middle East Narrowband IoT Market, Revenues & Volume, By End User, 2021 - 2031 |
12.7 Middle East Narrowband IoT Market, Revenues & Volume, By Connectivity, 2021 - 2031 |
13 Global Narrowband IoT Market Key Performance Indicators |
14 Global Narrowband IoT Market - Export/Import By Countries Assessment |
15 Global Narrowband IoT Market - Opportunity Assessment |
15.1 Global Narrowband IoT Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Narrowband IoT Market Opportunity Assessment, By Application, 2021 & 2031F |
15.3 Global Narrowband IoT Market Opportunity Assessment, By Component, 2021 & 2031F |
15.4 Global Narrowband IoT Market Opportunity Assessment, By Deployment, 2021 & 2031F |
15.5 Global Narrowband IoT Market Opportunity Assessment, By End User, 2021 & 2031F |
15.6 Global Narrowband IoT Market Opportunity Assessment, By Connectivity, 2021 & 2031F |
16 Global Narrowband IoT Market - Competitive Landscape |
16.1 Global Narrowband IoT Market Revenue Share, By Companies, 2024 |
16.2 Global Narrowband IoT Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |