On the basis of geography, global narrowband internet of things chipset market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America narrowband internet of things chipset market held the dominant position in 2016 and is projected to retain dominance over the forecast period. The U.S and Canada are some of the major countries which drive the market in North America region. According to the SmartAmerica Challenge, increasing support of the U.S government and investment for the adoption of IOT technology in various industries such as utilities, manufacturing, and healthcare are providing a key growth opportunities for narrowband internet of things market in the U.S. The Asia Pacific narrowband IOT chipset market is projected to increase with largest CAGR in the forecast period. India, china, and Japan are some of the major countries driving the market in Asia Pacific region. The investment for smart city projects by the Asia Pacific countries has become one of the major driving factors for growth of the market in the region.
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Infrastructure segment held the dominating position in 2016 and is projected to maintain its dominance throughout the forecast period. Increasing safety concern has become one of the major factors for the growth of the market in infrastructure segment. Adoption of alarm and detector by various industries fuels the market of narrowband IOT chipset globally. Moreover, the automotive and transportation segment is expected to grow with largest CAGR over the forecast period. Increasing installation of vehicle infotainment and telematics application has increased the narrowband IOT chipset market in automotive and transportation segment.
Key Players in the Global Narrowband Internet of Things Chipset Market
Key players operating global narrowband internet of things chipset market include Vodafone Group PLC, Verizon Communications, U-Blox Holding AG, Samsung Electronics, Qualcomm Incorporated, Nokia Corporation, Mistase Communication System, Intel Corporation, Huawei Technologies Co. Ltd., and Ericsson.
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Alarm and detectors device segment held the dominating position in 2016 and is projected to maintain its dominance over the forecast period. Moreover, the tracker device segment is expected to grow with largest CAGR in the forecast period. Due to increasing fraudulent activities, the companies have adopted tracking devices, which provides real-time location of the vehicle and shipments.
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