The global narrowband internet of things chipset market so far held a highly consolidated competitive landscape, according to Transparency Market Research. In its recent research report, it was shown that Qualcomm Inc., U-blox Holding AG, Sequans Communications, Commsolid GMBH, and Altair Semiconductor – the leading five companies for 2016 – held a staggering 98% of the overall market for that year. Some of the key areas of focus for these players include product innovation and introduction to commercial markets, improving presence in multiple key regions, and increased investments in research and development efforts. Other opportunities in alliances and collaborations, and mergers and acquisitions, in order to add to their product portfolios are also dominant strategies being employed by the leaders of the market.
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The TMR report explains that the global narrowband internet of things chipset market is expected to expand at a whopping CAGR of 37.9% CAGR within a forecast period from 2017 to 2025. The market is expected to reach US$793.7 mn by the end of 2025, after being calculated at US$45.0 mn in 2016.
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Asia Pacific led the global narrowband internet of things chipset market in 2016 in terms of promising growth opportunities, a factor primarily attributed to the growing chipset integration smart detectors, smart appliances, and smart meters. Nations such as China and Japan are also showing an increasing rate of adoption of IoT principles on an industrial front as well as in the residential sector. Asia Pacific is expected to continue leading the global narrowband internet of things chipset market over the report’s given forecast period. Of the key areas of applications in the market, trackers, smart appliances, and smart meters are currently key contributors of revenue on a global perspective.
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