| Product Code: ETC13341569 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Vasudha | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Narrowband IoT NB-IoT Chipset Market was valued at USD 1.4 Billion in 2024 and is expected to reach USD 3.7 Billion by 2031, growing at a compound annual growth rate of 11.27% during the forecast period (2025-2031).
The Global Narrowband IoT (NB-IoT) chipset market is experiencing significant growth due to the increasing adoption of IoT devices across various industries such as healthcare, agriculture, smart cities, and manufacturing. NB-IoT chipsets offer low-power consumption, extended coverage, and improved indoor penetration, making them ideal for connecting a wide range of devices in remote or challenging environments. Key market players are focusing on developing advanced NB-IoT chipsets with enhanced capabilities such as increased data rates, improved security features, and better reliability. The market is also driven by the rising demand for smart infrastructure and connected devices, driving the need for efficient and cost-effective NB-IoT solutions. Asia-Pacific region is expected to dominate the market due to the rapid deployment of NB-IoT networks in countries like China and India.
The Global Narrowband IoT (NB-IoT) Chipset Market is experiencing significant growth due to the increasing adoption of IoT devices across various industries. Key trends driving this market include the growing demand for low-power, cost-effective connectivity solutions, as well as the rising deployment of smart city and smart agriculture applications. Opportunities in the NB-IoT chipset market are abundant, with the expansion of 5G networks providing a strong foundation for the widespread deployment of IoT devices. Additionally, the increasing focus on enhancing connectivity and efficiency in sectors such as healthcare, logistics, and manufacturing is creating new avenues for NB-IoT chipset manufacturers to capitalize on. Overall, the market is poised for continued growth as the IoT ecosystem expands and the need for reliable, low-power connectivity solutions increases.
One of the key challenges faced in the Global Narrowband IoT (NB-IoT) chipset market is the competition from other low-power wide-area network (LPWAN) technologies such as LoRa and Sigfox. These alternative technologies offer similar capabilities in terms of long-range connectivity and low power consumption, posing a threat to the adoption of NB-IoT chipsets. Additionally, the lack of standardized NB-IoT network deployments globally and interoperability issues between different NB-IoT chipsets from various vendors hinder market growth. Furthermore, the complexity of integrating NB-IoT technology into existing infrastructure and the relatively higher cost of NB-IoT chipsets compared to other IoT connectivity solutions present further challenges for market players looking to drive widespread adoption of NB-IoT technology.
The Global Narrowband IoT (NB-IoT) chipset market is primarily driven by the increasing adoption of IoT devices across various industries due to the benefits of cost-effectiveness, low power consumption, and long-range connectivity offered by NB-IoT technology. Additionally, the rising demand for efficient and reliable connectivity solutions for smart city applications, smart meters, and asset tracking is fueling the growth of the NB-IoT chipset market. Furthermore, the growing focus on deploying IoT solutions to improve operational efficiency, enhance decision-making processes, and enable predictive maintenance in sectors such as healthcare, agriculture, and manufacturing is driving the demand for NB-IoT chipsets. The continuous advancements in NB-IoT technology, such as improved network coverage and enhanced security features, are also contributing to the market growth.
Government policies related to the Global Narrowband IoT (NB-IoT) chipset market typically focus on promoting the adoption and development of IoT technologies through regulatory frameworks and incentives. These policies often include spectrum allocation for NB-IoT networks, standards compliance requirements, and initiatives to support research and innovation in the sector. Governments may also implement measures to ensure data security and privacy within NB-IoT applications, as well as to encourage collaboration between industry stakeholders to drive growth and competitiveness in the market. Overall, government policies play a crucial role in shaping the regulatory environment for NB-IoT chipset manufacturers and service providers, aiming to foster a conducive ecosystem for the widespread deployment and utilization of IoT solutions across various industries.
The Global Narrowband IoT (NB-IoT) chipset market is projected to witness substantial growth in the coming years due to the increasing adoption of IoT devices across various industries. The demand for efficient and cost-effective connectivity solutions for IoT applications, such as smart meters, asset tracking, and smart city infrastructure, is driving the market growth. Additionally, the deployment of 5G networks and the development of new NB-IoT chipsets with enhanced features like extended coverage, low power consumption, and improved security are expected to further boost market expansion. With advancements in technology and the growing emphasis on IoT solutions for improved operational efficiency and connectivity, the Global NB-IoT chipset market is poised for significant growth and innovation in the foreseeable future.
In the Global Narrowband IoT (NB-IoT) Chipset Market, Asia-Pacific region is expected to dominate due to the widespread adoption of IoT technology in countries like China and India. North America is also a significant market, driven by the presence of key players and the rapid deployment of smart city initiatives. Europe is another prominent region, with increasing investment in IoT infrastructure and regulatory support for NB-IoT technology. The Middle East and Africa are witnessing growth opportunities in sectors like agriculture and utilities, where NB-IoT can enhance efficiency. Latin America is experiencing steady growth, particularly in smart metering applications. Overall, the regional insights indicate a promising outlook for the NB-IoT chipset market across various geographies.
Global Narrowband IoT NB-IoT Chipset 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 NB-IoT Chipset Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Narrowband IoT NB-IoT Chipset Market Revenues & Volume, 2021 & 2031F |
3.3 Global Narrowband IoT NB-IoT Chipset Market - Industry Life Cycle |
3.4 Global Narrowband IoT NB-IoT Chipset Market - Porter's Five Forces |
3.5 Global Narrowband IoT NB-IoT Chipset Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Narrowband IoT NB-IoT Chipset Market Revenues & Volume Share, By Chipset Type, 2021 & 2031F |
3.7 Global Narrowband IoT NB-IoT Chipset Market Revenues & Volume Share, By Connectivity, 2021 & 2031F |
3.8 Global Narrowband IoT NB-IoT Chipset Market Revenues & Volume Share, By Frequency Band, 2021 & 2031F |
3.9 Global Narrowband IoT NB-IoT Chipset Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.10 Global Narrowband IoT NB-IoT Chipset Market Revenues & Volume Share, By End User, 2021 & 2031F |
4 Global Narrowband IoT NB-IoT Chipset Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Narrowband IoT NB-IoT Chipset Market Trends |
6 Global Narrowband IoT NB-IoT Chipset Market, 2021 - 2031 |
6.1 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Chipset Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Cellular IoT Chipset, 2021 - 2031 |
6.1.3 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By NB-IoT Chipset, 2021 - 2031 |
6.1.4 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By LTE-M Chipset, 2021 - 2031 |
6.1.5 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Multi-Mode Chipset, 2021 - 2031 |
6.1.6 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Custom Chipset, 2021 - 2031 |
6.2 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Connectivity, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By 2G, 2021 - 2031 |
6.2.3 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By 3G, 2021 - 2031 |
6.2.4 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By 4G, 2021 - 2031 |
6.2.5 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By 5G, 2021 - 2031 |
6.2.6 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Dual Connectivity, 2021 - 2031 |
6.3 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Frequency Band, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Sub-GHz, 2021 - 2031 |
6.3.3 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By 700 MHz, 2021 - 2031 |
6.3.4 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By 800 MHz, 2021 - 2031 |
6.3.5 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By 900 MHz, 2021 - 2031 |
6.3.6 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By 1800 MHz, 2021 - 2031 |
6.4 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Application, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Smart Meters, 2021 - 2031 |
6.4.3 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Asset Tracking, 2021 - 2031 |
6.4.4 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Wearables, 2021 - 2031 |
6.4.5 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Smart Cities, 2021 - 2031 |
6.4.6 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Agriculture Sensors, 2021 - 2031 |
6.5 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By End User, 2021 - 2031 |
6.5.1 Overview & Analysis |
6.5.2 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Utilities, 2021 - 2031 |
6.5.3 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Logistics, 2021 - 2031 |
6.5.4 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Healthcare, 2021 - 2031 |
6.5.5 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Government, 2021 - 2031 |
6.5.6 Global Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Agriculture, 2021 - 2031 |
7 North America Narrowband IoT NB-IoT Chipset Market, Overview & Analysis |
7.1 North America Narrowband IoT NB-IoT Chipset Market Revenues & Volume, 2021 - 2031 |
7.2 North America Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Chipset Type, 2021 - 2031 |
7.4 North America Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Connectivity, 2021 - 2031 |
7.5 North America Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Frequency Band, 2021 - 2031 |
7.6 North America Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Application, 2021 - 2031 |
7.7 North America Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By End User, 2021 - 2031 |
8 Latin America (LATAM) Narrowband IoT NB-IoT Chipset Market, Overview & Analysis |
8.1 Latin America (LATAM) Narrowband IoT NB-IoT Chipset Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Chipset Type, 2021 - 2031 |
8.4 Latin America (LATAM) Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Connectivity, 2021 - 2031 |
8.5 Latin America (LATAM) Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Frequency Band, 2021 - 2031 |
8.6 Latin America (LATAM) Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Application, 2021 - 2031 |
8.7 Latin America (LATAM) Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By End User, 2021 - 2031 |
9 Asia Narrowband IoT NB-IoT Chipset Market, Overview & Analysis |
9.1 Asia Narrowband IoT NB-IoT Chipset Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Chipset Type, 2021 - 2031 |
9.4 Asia Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Connectivity, 2021 - 2031 |
9.5 Asia Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Frequency Band, 2021 - 2031 |
9.6 Asia Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Application, 2021 - 2031 |
9.7 Asia Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By End User, 2021 - 2031 |
10 Africa Narrowband IoT NB-IoT Chipset Market, Overview & Analysis |
10.1 Africa Narrowband IoT NB-IoT Chipset Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Chipset Type, 2021 - 2031 |
10.4 Africa Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Connectivity, 2021 - 2031 |
10.5 Africa Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Frequency Band, 2021 - 2031 |
10.6 Africa Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Application, 2021 - 2031 |
10.7 Africa Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By End User, 2021 - 2031 |
11 Europe Narrowband IoT NB-IoT Chipset Market, Overview & Analysis |
11.1 Europe Narrowband IoT NB-IoT Chipset Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Chipset Type, 2021 - 2031 |
11.4 Europe Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Connectivity, 2021 - 2031 |
11.5 Europe Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Frequency Band, 2021 - 2031 |
11.6 Europe Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Application, 2021 - 2031 |
11.7 Europe Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By End User, 2021 - 2031 |
12 Middle East Narrowband IoT NB-IoT Chipset Market, Overview & Analysis |
12.1 Middle East Narrowband IoT NB-IoT Chipset Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Chipset Type, 2021 - 2031 |
12.4 Middle East Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Connectivity, 2021 - 2031 |
12.5 Middle East Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Frequency Band, 2021 - 2031 |
12.6 Middle East Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By Application, 2021 - 2031 |
12.7 Middle East Narrowband IoT NB-IoT Chipset Market, Revenues & Volume, By End User, 2021 - 2031 |
13 Global Narrowband IoT NB-IoT Chipset Market Key Performance Indicators |
14 Global Narrowband IoT NB-IoT Chipset Market - Export/Import By Countries Assessment |
15 Global Narrowband IoT NB-IoT Chipset Market - Opportunity Assessment |
15.1 Global Narrowband IoT NB-IoT Chipset Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Narrowband IoT NB-IoT Chipset Market Opportunity Assessment, By Chipset Type, 2021 & 2031F |
15.3 Global Narrowband IoT NB-IoT Chipset Market Opportunity Assessment, By Connectivity, 2021 & 2031F |
15.4 Global Narrowband IoT NB-IoT Chipset Market Opportunity Assessment, By Frequency Band, 2021 & 2031F |
15.5 Global Narrowband IoT NB-IoT Chipset Market Opportunity Assessment, By Application, 2021 & 2031F |
15.6 Global Narrowband IoT NB-IoT Chipset Market Opportunity Assessment, By End User, 2021 & 2031F |
16 Global Narrowband IoT NB-IoT Chipset Market - Competitive Landscape |
16.1 Global Narrowband IoT NB-IoT Chipset Market Revenue Share, By Companies, 2024 |
16.2 Global Narrowband IoT NB-IoT Chipset Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |
Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.
By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.
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