NB-IoT Chipset Market Worth $3.06 billion by 2027

Narrowband-IoT (NB-IoT) Chipset Market By Deployment (In-Band, Guard Band, Standalone), By Vertical (Agriculture, Logistics and Transportation, Healthcare, Smart Building), By Application (Smart Agriculture, Personal Care, Smart Building), And Geography – Global Forecast To 2027

The Narrowband-IoT (NB-IoT) chipsets market is expected to grow at a CAGR of 30.8% from 2020 to 2027 to reach $3.06 billion by 2027. Narrowband-IoT (NB-IoT) chipsets are used across multiple industry verticals. These chipsets are of high value, as they significantly improve user devices' power consumption, system capacity, and spectrum efficiency, especially in deep coverage. The growth of the Narrowband-IoT (NB-IoT) chipsets market is mainly attributed to the growing demand for wearable devices for health monitoring, rapid adoption of IoT and connected devices, and increasing machine-to-machine communication. Additionally, rising government initiatives to build smart cities and a surge in demand for long-range communication provide significant growth opportunities for players operating in the Narrowband-IoT (NB-IoT) chipsets market.