The Asia-Pacific NB-IoT market is projected to grow at a significant CAGR of around 37.4% during the forecast period (2021-2027). The market is driven due to the expansion of the networking infrastructure in the region coupled significant adoption of IoT solutions in China, Japan and India. As per the Indian Brand Equity Foundation (IBEF), India is 2nd largest telecommunications market with a subscriber base of 1.20 billion and has registered strong growth in the past decade. According to a survey by GSM Association (GSMA) in collaboration with the Boston Consulting Group (BCG), the Indian mobile market is growing rapidly and will contribute substantially to the adoption of IoT connected devices. Thus, contributing to the adoption of the NB-IoT solution and further propels the market growth.
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Further, as per NITI (National Institution for Transforming India) Aayog, there were more than 220 million smartphone users in India in 2016, which is further expected to increase to 350 million in 2020. Moreover, the Japan has been performing significantly owing to the contribution of major Japanese firms, such as NTT Global. Toshiba Corp., a Tokyo-based telecommunication products and service provider, offers networking solutions or the development of cordless digital equipment. Along with this, in October 2018, Samsung announced the collaboration with Qualcomm, with the aim to build 5G small cells consisting of the capability of broadcasting high frequencies in sub-6 and millimeter wave bands to support both outdoor and indoor deployment.
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Asia-Pacific NB-IoT Market – Segmentation
By Deployment Type
· Guard Band
· In-Band
· Standalone
By Industry
· Logistics and Transportation
· Energy & Utilities
· Agriculture
· Industrial Manufacturing
· Healthcare
· Other (Retail)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
