Global Private Narrowband IoT Market Set to Explode, Reaching US$138.22 Billion by 2029

The global Private Narrowband IoT (NB-IoT) market is poised for a meteoric rise, soaring to a value of US$138.22 billion by 2029, according to a recent report. This translates to a phenomenal compound annual growth rate (CAGR) of 92.6% from 2023, up from its current valuation of US$1.40 billion.

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Market Overview:

Private NB-IoT offers a secure and efficient way to connect low-power, wide-area devices, making it ideal for a range of applications across industries. Its growing popularity is driven by several factors, including:

• Rising demand for Internet of Things (IoT) solutions: Businesses are increasingly adopting IoT technologies to improve efficiency, optimize operations, and gain valuable insights.
• Enhanced security and reliability: Compared to public NB-IoT networks, private deployments offer greater control and customization, addressing security concerns and ensuring critical data privacy.
• Wider reach and lower power consumption: Private NB-IoT provides long-range connectivity even in remote areas, while minimizing power usage, making it ideal for battery-powered devices.

Report Scope:

This comprehensive report delves into the global Private NB-IoT market, offering insights into:

• Market size and growth potential: Detailed analysis of current market size and projected CAGR for the forecast period.
• Key drivers and challenges: Exploration of factors influencing market growth, including technological advancements, industry trends, and regulatory considerations.
• Application insights: Examination of potential use cases across diverse industries, such as smart cities, energy & utilities, manufacturing, and healthcare.
• Competitive landscape: Profiling leading players in the market and their competitive strategies.

Research Methodology:

The report employs a robust research methodology, combining:

• Secondary data: Extensive analysis of industry reports, government data, and academic publications.
• Primary data: Interviews with industry experts, key market participants, and technology providers.
• Quantitative and qualitative analysis: In-depth data analysis to provide actionable insights.

Segmentation:

The Private NB-IoT market is segmented by:

by Application

Real-Time Streaming Analytics
Asset Tracking
Smart Parking Management
Security
Logistics Tracking
Others

The market is divided into Real-Time Streaming Analytics, Asset Tracking, Smart Parking Management, Security, Logistics Tracking, and Others segments based on the application. By 2029, it is anticipated that the Real-Time Streaming Analytics sector would have the biggest market share, at %. The identification of patterns and the preparation of backup plans are facilitated by real-time streaming analytics. Businesses may behave more pragmatistically in uncertain situations thanks to real-time streaming analytics. In situations where even a minute of downtime could bring the entire business to a halt, this can be of great assistance.

by Component

Module
Network
by Deployment In-Band
Standalone
Guard Band

by Device Type

Smart Meter
Smart Lighting
Smart Parking
Alarm & Detector
Others

by End-Users

Agriculture
Logistics and Transportation
Healthcare
Industrial Manufacturing
Energy and Utilities
Others

Agriculture, Logistics and Transportation, Healthcare, Industrial Manufacturing, Energy and Utilities, and Others are the market segments based on the End-Users. During the projection period of 2023–2029, the Industrial Manufacturing segment is anticipated to grow significantly at a CAGR of %. During the forecast period of 2023-2029, the industrial manufacturing segment in the global market is expected to grow at a faster rate due to two main factors: the growing prevalence of tech-savvy work cultures and the ongoing adoption of innovative technologies for both personal and corporate applications.

Regional Insights:

For the projection period of 2023–2029, North America will continue to lead the global private narrowband IoT market. By 2029, North America is anticipated to have the biggest market share, or %. This is because a number of major players, such as Qualcomm (US), Verizon Communications, and Intel Corporation, are based in the US and are concentrating on the commercial rollout and testing of private narrowband IoT solutions for consumer applications in the US. During the forecast period of 2023–2029, these are the main aspects that are anticipated to propel the growth of the Private Narrowband IoT market in the North American region.

Key Players:

1. AT&T
2. Verizon Communications
3. China Mobile Limited
4. Huawei technologies co. Ltd.
5. Intel Corporation
6. Telefónica
7. Vodafone Group Plc.
8. Orange, China Unicom
9. Telstra
10. Nokia
11. Ericsson
12. Qualcomm Technologies Inc.
13. Telecom Italia
14. Emirates Telecommunications Corporation
15. Samsung
16. Nordic Semiconductor
17. Altair Semiconductor
18. Cheerzing

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