The European NB-IoT market is projected to grow at a significant CAGR of around 33.5% during the forecast period (2021-2027). One of the major factors that propel the market growth in the region includes cohesive IoT policies. For instance, IoT-EPI is a European Initiative that started in 2017. This initiative addresses the new EU-funded H2020 programs regarding the development of IoT platform. There are seven research and innovation projects at the core of IoT-EPI: BIG IoT, Inter-IoT, symbIoTe, AGILE, VICINITY, TagItSmart!, and bIoTope. These projects with a total funding of $61.32 million, and in partnership with 120 established companies and organizations, aim at the development of innovative platform technologies and foster technology adoption via community and business building.
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Another initiative proposed by the EU in January 2017 was the “European data economy” that contributed to the creation of a European single market for IoT. This initiative offers policy and legal solutions that concern the free flow of data across the national borders in the EU. In addition, it concerns the liability issues in complex environments such as the IoT one. Especially, liability is significant for enhancing the legal certainty around IoT products and services. The Digital Single Market (DSM) Strategy was adopted in May 2015. This strategy includes the elements that lead Europe a step further in accelerating the development of IoT. This strategy emphasizes the need to avoid fragmentation and to foster interoperability for NB- IoT for reaching its potential.
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European 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.)
