Market Overview
According to MRFR analysis, Global Private Narrowband-Internet of Things (NB-IoT) Market Size USD 28.74 Billion (2030) is expected to grow at a CAGR of 43.53% from the year 2020–2030.
Private narrowband IoT and its advantages, such as reduced cost and reduced power consumption for an increased coverage area, are primarily noted to be boosting the adoption of this technology across the world. Being a newly released private narrowband offering from the 3rd Generation Partnership Project, it makes municipal applications such as utility metering, street lighting, smart parking, and toll road charges more efficient and effective. Therefore, the rising demand for a low-power wide-area network (LPWAN) globally has impacted the market dynamics, which has resulted in gaining maximum traction over the year. Such a situation has created a greater possibility for the market to gain more valuation in the forecast period.
The global market for private narrowband IoT also has chances of proliferation as the number of competitors has increased to encourage competition. Giant market players are actively deploying this technology to provide faster services to the customers to gain a competitive edge. In this case, some of the noticeable players in the global narrowband IoT (NB-IoT) market are named to be Vodafone Group plc, Quectel Wireless Solutions Co. Ltd., Etisalat Corporation, u-blox, Nokia Corporation, Huawei Technologies Co. Ltd., and China Unicom. In fact, these players have engaged in strategic decisions, which include partnership, expansion, collaboration, and mergers. In a case of point, China Unicom came into news when partnered with Huawei to launch NB-IoT based smart parking solution. This partnership improved operation management capabilities and efficiency in Shanghai. Following the steps, many other companies are lined up for using this technology in areas and applications, thus making the market share double in the future timeframe.
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Regional Analysis
From the viewpoint of the regional aspect, the global private narrowband IoT market has been studied among the critical regions of Asia-Pacific, Europe, North America, and the Middle East & Africa, and South America.
The market in North America leads owing to the presence of various leading device manufacturers and network service providers. They have been actively focusing on testing and commercial deployment of private narrowband IoT solutions for various consumer applications. These market players also work towards the development of new modules and implementation of private NB-IoT networks when required to enhance the coverage and increase the scope of commercial applications where the technology can be applied. Besides all, the rising tech-savvy population and continued adoption of emerging technologies for personal and business applications are other significant factors driving the growth of the private narrowband IoT market in North America.
IoT device shipments in the APAC region are probable to reach 12.7 billion units by the year 2030. The market for NB-IoT might inflate significantly in the forecast period in this region. At present, NB-IoT is deployed in countries such as Taiwan, China, Singapore, Hong Kong, Bangladesh, Thailand, Japan, Sri Lanka, New Zealand, Indonesia, South Korea, and Australia. The region is also notable for a massive potential as NB-IoT uses the mobile wireless network, which offers better scalability, quality of service, and security as compared to unlicensed LPWA networks such as LoRa/Sigfox. With this, it also provides extended battery life owing to low power consumption.
Key Players
The key market players of the global private narrowband IoT Market are listed as Verizon Communications, AT&T, Huawei technologies co. Ltd., China Mobile Limited, Telefónica, Intel Corporation, Orange, China Unicom, Vodafone Group Plc., Nokia, Telstra, Qualcomm Technologies Inc, Ericsson, Emirates Telecommunications Corporation and Telecom Italia.
Introduction:
In this digital age, where connected devices are increasingly becoming the norm, the need for secure and reliable connectivity is more crucial than ever. This is where Private Narrowband IoT (NB-IoT) comes into play, revolutionizing the way we connect and communicate. In this article, we will delve into the world of Private NB-IoT, exploring its features, benefits, and the impact it is poised to have on various industries.
- Understanding Private Narrowband IoT
Private Narrowband IoT is a low-power, wide-area network (LPWAN) technology designed to enable secure and reliable communication between a multitude of IoT devices. It operates on licensed spectrum bands, ensuring dedicated and interference-free connectivity. Private NB-IoT utilizes existing cellular infrastructure, making it cost-effective and easily deployable.
- The Advantages of Private NB-IoT
2.1 Enhanced Security
One of the key advantages of Private NB-IoT is its enhanced security features. With dedicated spectrum bands and encryption protocols, private networks offer robust protection against cyber threats and unauthorized access. This level of security is essential, particularly in sectors such as healthcare, finance, and industrial automation, where data privacy and integrity are paramount.
2.2 Improved Coverage and Range
Private NB-IoT networks offer extensive coverage and long-range connectivity, allowing IoT devices to communicate seamlessly over vast areas. This is particularly beneficial for applications in agriculture, utilities, and logistics, where devices may be spread across large geographical regions and require consistent connectivity.
2.3 Lower Power Consumption
Efficiency is a key consideration when it comes to IoT devices, and Private NB-IoT excels in this area. The technology is designed to minimize power consumption, prolonging the battery life of connected devices. This makes Private NB-IoT ideal for applications that rely on long-lasting, low-power devices, such as smart metering and asset tracking.
2.4 Scalability and Network Flexibility
Private NB-IoT networks offer the scalability and flexibility required to accommodate a growing number of connected devices. The infrastructure can be easily expanded to support additional devices, allowing businesses to adapt and scale their IoT deployments as needed.
- Applications of Private NB-IoT
3.1 Healthcare
Private NB-IoT can transform the healthcare industry by enabling remote patient monitoring, asset tracking, and real-time data analysis. It allows healthcare providers to monitor vital signs, track medical equipment, and ensure timely interventions, leading to improved patient outcomes and reduced healthcare costs.
3.2 Smart Cities
Private NB-IoT plays a crucial role in the development of smart cities. It enables efficient management of resources, such as smart lighting, waste management, and parking systems. The technology enhances urban mobility, optimizes energy consumption, and improves overall quality of life for residents.
3.3 Industrial Automation
Private NB-IoT facilitates seamless connectivity and data exchange in industrial automation processes. It enables remote monitoring, predictive maintenance, and real-time analysis of production systems. This results in increased operational efficiency, reduced downtime, and enhanced productivity.
- The Future of Private NB-IoT
Private NB-IoT is poised to revolutionize numerous industries and pave the way for a more connected and secure future. Its applications will extend beyond the sectors mentioned above, encompassing agriculture, utilities, transportation, and more. As advancements in technology continue, Private NB-IoT will become increasingly prevalent, fostering innovation and transforming the way we interact with our surroundings.
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Conclusion:
Private Narrowband IoT is unlocking a new era of secure and efficient connectivity for the rapidly expanding world of IoT. Its enhanced security, extended coverage, low power consumption, and scalability make it an ideal choice for businesses and industries looking to harness the potential of IoT devices. As we move forward, the adoption of Private NB-IoT will undoubtedly drive innovation, improve efficiencies, and create new opportunities across various sectors.
OverviewGlobal Private Narrowband IoT Market is expected to reach USD 16,075.4 Million by 2025, growing at a CAGR of 92.1% during the forecast period (2019–2025).
In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the coming years.Private narrowband Internet of Things (NB-IoT) is a new cellular standard for low-power wide-area (LPWA) M2M (machine to machine) communication.
LPWAN offers a combination of long-range, low power consumption, and secure data transmission, which makes it one of the preferred network technologies.
Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/8599 Competitive AnalysisThe Prominent Players operating in the Private Narrowband IoT Market are The Key Players of the Global Private Narrowband IoT Market are AT, Verizon Communications, China Mobile Limited, Huawei Technologies Co. Ltd, Intel Corporation, Telefónica, Vodafone Group Plc., Orange, China Unicom, Telstra, Nokia, Ericsson, Qualcomm Technologies Inc, Telecom Italia, Emirates Telecommunications Corporation.Segmental AnalysisThe Global Private Narrowband IoT Market has been segmented based on Application, Deployment, Vertical, and Region.Based on the application, the private narrowband IoT has been segmented into real-time streaming analytics, asset tracking, smart parking management, security, logistics tracking, soil monitoring, and others.
Here, the cellular services are present and NB-IoT is positioned in the guard band of LTE carriers.
However, the LTE resources are not allocated which prevents the possible interference of LTE with NB-IoT.Browse Full Report Details @ https://www.marketresearchfuture.com/reports/private-narrowband-iot-market-8599Based on industry vertical, the private narrowband IoT has been categorized as agriculture, logistics and transportation, healthcare, industrial manufacturing, energy and utilities, and others.
OverviewGlobal Private Narrowband IoT Market is expected to reach USD 16,075.4 Million by 2025, growing at a CAGR of 92.1% during the forecast period (2019–2025).
In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the coming years.Private narrowband Internet of Things (NB-IoT) is a new cellular standard for low-power wide-area (LPWA) M2M (machine to machine) communication.
LPWAN offers a combination of long-range, low power consumption, and secure data transmission, which makes it one of the preferred network technologies.
The smart parking management segment accounts for the largest market share in 2019.
Due to all the above-mentioned benefits, NB-IoT is increasingly being used for network communications in smart parking solutions.
The companies are able to manage their parking places and increase the revenue collected from them with the help of NB-IoT-based smart parking systems.Based on the deployment model, the market has been segmented into in-band, standalone, guard band.
