The global narrowband IoT market is anticipated to grow at a significant CAGR during the forecast period. The major factor for the growth of the market is the increasing need for IoT and an increase in the connected devices ecosystem along with emerging smart cities initiatives will fuel the growth of the market during the forecast period.
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The narrowband IoT has various applications in many industrial verticals such as application software, smart appliances, and many others. Various government initiatives such as the ongoing Smart Initiative launched by the Government of India in 2015 will further fuel the growth of the global narrowband IoT market during the forecast period. Narrowband IoT offers various advantages such as it can provide small devices with a small amount of data that is needed for them along with long battery life. Companies like Skylo are providing NB-IoT with the help of satellites which will provide 100% connectivity from anywhere. These factors will fuel the growth of the market during the forecast period. Some of the key players in the global narrowband IoT market include Vodafone Group Plc, China Unicom, China Telecom, AT&T, Etisalat, Telstra, and many others.
Global Narrowband IoT market by Segments
- By Technology
o Managed
o Professional
- By Vertical
o Agriculture
o Logistics and Transportation
o Healthcare
o Manufacturing
o Energy industry
- By Smart Applications
o Smart Governance
o Smart Metering
o Smart Buildings
o Smart Cities
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Narrowband IoT Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Vodafone Group Plc
- China Unicom
- China Telecom
- AT&T
- Etisalat
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