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At the forefront of Low-Power Wide-Area Network (LPWAN) technology stands private narrowband IoT, heralding a transformative era for long-range communication at a low bit rate. Acknowledged as a cornerstone in the global construction of IoT networks, LPWAN seamlessly integrates into diverse domains, from vehicles and streetlights to home appliances, manufacturing equipment, and wearable devices. With an impressive trifecta of attributes - long-range coverage, low power consumption, and secure data transmission - LPWAN has ascended to the status of preferred network technology. Esteemed technology providers, including NWave Technologies, Qualcomm Inc., Cisco Systems, AT&T Inc., and Huawei Technologies Co. Ltd, have spearheaded a diverse array of LPWAN technologies, catering to a discerning global clientele. The escalating demand for private narrowband IoT technology is a direct response to the explosive growth in IoT devices, propelling the need for low-power, cost-efficient, and optimized data transmission to the forefront of technological priorities.
Evolution of LPWAN: The roots of LPWAN can be traced back to 2011 when it emerged as a compelling alternative to existing network technologies providing IoT connectivity. Over the years, LPWAN has undergone substantial developments, morphing into a versatile technology with a broad application scope. Initially conceived for specific use cases such as environmental monitoring, logistic tracking, and animal and crop monitoring, LPWAN has transcended its initial limitations. Its ability to facilitate independent devices, such as sensors transmitting occasional status updates, has proven invaluable in various scenarios. Presently, LPWAN assumes a pivotal role in remotely activating devices like air conditioners, sprinklers, and lights, underscoring its adaptability to diverse needs and solidifying its position as a multifaceted technology.
Key Attributes Driving Adoption: LPWAN's popularity is not merely a consequence of its expansive application scope; rather, it is deeply rooted in its remarkable attributes. The trifecta of long-range coverage ensures that communication can span vast distances, making it ideal for widespread IoT implementations. Simultaneously, low power consumption addresses the critical need for energy efficiency, prolonging the life of devices and reducing the environmental footprint. The emphasis on secure data transmission adds a layer of protection crucial for applications dealing with sensitive information, further positioning LPWAN as the go-to technology for IoT networks.
Global Technology Providers and Innovations: The landscape of LPWAN is shaped by industry giants who have pioneered advancements in the field. NWave Technologies, Qualcomm Inc., Cisco Systems, AT&T Inc., and Huawei Technologies Co. Ltd are among the trailblazers who have contributed significantly to the evolution of LPWAN technologies. Their innovative solutions not only meet the rising demand but also set benchmarks for reliability, efficiency, and security. With a global clientele, these technology providers play a pivotal role in disseminating LPWAN technologies across borders, contributing to the widespread adoption and integration of LPWAN in diverse applications.
Meeting the Demand for IoT Devices: The surge in the demand for private narrowband IoT technology is intrinsically linked to the explosive growth in the number of IoT devices. As our world becomes more interconnected, the need for low-power, cost-efficient, and optimized data transmission has become paramount. LPWAN, with its ability to provide seamless communication, has become the linchpin for supporting the myriad devices that constitute the IoT ecosystem. From smart cities to industrial automation and healthcare applications, LPWAN technology is the bridge that enables efficient communication between devices, fostering a connected and intelligent world.
Conclusion: Private narrowband IoT, within the overarching realm of LPWAN technology, stands as a testament to the innovation and adaptability required in the fast-evolving landscape of the Internet of Things. From its inception in 2011 to its current status as a transformative force, LPWAN has proven itself indispensable in addressing the dynamic needs of our interconnected world. As technology providers continue to push the boundaries of what LPWAN can achieve, it is poised to remain at the forefront of IoT connectivity, seamlessly integrating into various aspects of our daily lives and shaping the future of connected devices.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | The growing tech-savvy population and continued adoption of emerging technologies for personal and business applications are some of the other major factors driving the growth of the private narrowband IoT market in North America. Key Market Drivers The market is driven by increasing demand for low-power wide-area network (LPWAN), globally. Also, since private NB-IoT offers several benefits including low deployment cost and long battery life, it is deployed for a number of applications including industrial manufacturing, logistics and transportation, energy & utilities, agriculture, and healthcare among others, thereby driving the overall market. |
Private Narrowband IoT Market Highlights:
Private Narrowband IoT Market Overview
Private Narrowband-Internet of Things (NB-IoT) Market is expected to reach USD 43.871 with a CAGR of 36.0% from the year 2024–2032. The market is driven by increasing demand for low-power wide-area network (LPWAN), globally. Also, since private NB-IoT offers several benefits including low deployment cost and long battery life, it is deployed for a number of applications including industrial manufacturing, logistics and transportation, energy & utilities, agriculture, and healthcare among others, thereby driving the overall market. Private NB-IoTs offer extended coverage and higher security over its substitutes. The private NB-IoT technology is being deployed recently for commercial purposes, with pilot testing projects being run at various locations in the past two years. The private NB-IoT solutions have evolved significantly over the last two years and the applications of this technology are expected to increase significantly in the future.
Figure 1: Private Narrowband-Internet of Things Market Size, 2023-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The value chain of private narrowband IoT consists of four key stakeholders namely, component manufacturers, telecom operators (MNOs and MVNOs), system integrators, and verticals. The manufacturers usually partner with other stakeholders in order to efficiently sell their solutions in the market. They tend to build strong relationships with regional resellers/suppliers so that they can expand their presence in the stipulated area. In terms of Porter's five forces analysis, the market is expected to witness moderate to high rivalry. Currently, telecom operators are investing in private NB-IoT projects and are running pilot projects in various regions/countries. As the demand for NB-IoT connectivity increases among industry verticals, these telecom operators will try to cater to the market demand by providing efficient private NB-IoT services, thereby increasing the competition/rivalry in the market in the years to come.
Synopsis
The 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. The smart parking management segment accounts for the largest market share in 2019, and it is expected to register a CAGR of 89.7% during the forecast period. The asset tracking segment holds the second-largest share in 2019; it is projected to exhibit substantial CAGR during the forecast period. However, the logistics tracking segment is expected to register the highest CAGR of 97.7%.
Based on the deployment model, the market has been segmented into in-band, standalone, guard band. The guard band segment accounts for the largest market share in 2019, with a market value of USD 199.6 million; it is expected to register substantial growth during the forecast period. The standalone segment is the second-largest market in 2019.
Based on industry vertical, the Private Narrowband IoT has been categorized as agriculture, logistics and transportation, healthcare, industrial manufacturing, energy and utilities, and others. The industrial manufacturing segment accounts for the largest market share in 2019, and it is expected to register a CAGR of 92.7% during the forecast period. However, the energy & utility segment is expected to register the highest CAGR of 95.9%.
Regional Analysis
Geographically, the global private narrowband IoT market has been segmented into Asia-Pacific, North America, Europe, and the Middle East & Africa, and South America.
North America dominates the global private narrowband IoT market owing to the presence of various leading device manufacturers and network service providers focusing on testing and commercial deployment of private narrowband IoT solutions for consumer applications. These market players are working towards the development of new modules and deployment of private NB-IoT networks to enhance the coverage and increase the scope of commercial applications where the technology can be applied. Moreover, the growing tech-savvy population and continued adoption of emerging technologies for personal and business applications are some of the other major factors driving the growth of the private narrowband IoT market in North America.
IoT device shipments in Asia is expected to reach 12.7 billion units by 2030. The market for NB-IoT is expected to grow significantly in the forecast period in the region. At present, NB-IoT is deployed in countries such as China, Taiwan, Hong Kong, Singapore, Thailand, Bangladesh, Sri Lanka, Japan, South Korea, New Zealand, Indonesia, and Australia. The region has a huge potential as NB-IoT as it uses the mobile wireless network which offers better scalability, quality of service, and security as compared to unlicensed LPWA networks such as LoRa/Sigfox. Along with this, it offers long battery life due to low power consumption. The price of NB-IoT modules/chipset is expected to decline in the coming year.
Companies Covered
The Key Players of the Global Private Narrowband IoT Market are,
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AT&T
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China Mobile Limited
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Huawei technologies co. Ltd.
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Intel Corporation
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Telefónica
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Vodafone Group Plc.
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Orange
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Verizon Communications
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China Unicom
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Telstra
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Nokia
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Ericsson
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Qualcomm Technologies Inc
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Telecom Italia
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Emirates Telecommunications Corporation
Key Developments
Monogoto, a cloud-based cellular network provider based in the United States, in March 2023 announced an agreement with Skylo Technologies, the NTN service operator. This is an important collaboration that reduces the barriers to entry for developers who want to integrate satellite connectivity into their existing networks on Monogoto Cloud. Consequently, they have the most economical and accessible solution of NB-IoT Satellite connectivity for asset monitoring solutions. Furthermore, SODAQ will be announcing a new asset-tracking trial kit that uses Monogoto’s connection and network.
Airgain Inc. provides wireless connectivity solutions such as embedded components and integrated systems as well as external antennas all over the world. It has in January 2023 partnered with Deutsche Telekom IoT so that its tracking devices can be connected to Europe's most extensive coverage ICT platform, resulting in a best-in-class offering. These come with the industry-best battery life of up to 14 years by enabling advanced radio technologies like NarrowBand IoT (NB-IoT) and LTE-M, plus simple integration with any enterprise software stack.
Sateliot has confirmed they are working on narrowband IoT (NB-IoT) communications via LEO satellites directly to a satellite receiver in order to avoid gateways this type of communication requires during the testing phase. The company made one announcement in September 2022 about its partnership with Amazon Web Services (AWS). The goal here is to create its NB-IoT offering through a fully virtualized cloud-native 5G core, which will launch for commercial use beginning in 2H23; it will also be able to provide seamless coverage from satellite across roaming agreements for cell operators.
Digital Matter, a leading global GPS & IoT hardware and software manufacturer, entered into an alliance in September 2022 with Vodafone NZ, which is New Zealand’s premier IoT connectivity provider. It includes end-to-end asset management solutions built on top of best-in-class LTE-M (Cat-M1), full-stack development capabilities via internally supported technical teams and dedicated support, and NB-IoT connectivity.
NIST, in September 2022, released security guidelines for IoT devices in the US. Due to IoT’s vulnerability to hacking and data breaches, the NIST Core Baseline recommends specific cybersecurity attributes that should be built into IoT devices by manufacturers, as well as what features consumers can check on a product packaging for when making purchase decisions.
Key questions addressed by the report
- What was the historic market size (2019)?
- Which segmentation (Application, Deployment, Vertical) are driving the market?
- What will be the growth rate by 2025?
- Who are the key players in this market?
- What are the strategies adopted by key players?
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