Narrowband internet of things (NB IoT) is an emerging IoT technology
which is being developed to meet challenges of future cellular IoT.
This technology will meet the requirement of connecting low-power
devices which relies on batteries and send small-scale information.
Furthermore, this new technology would enhance indoor coverage,
lowering delay sensitivity among interconnected devices, decrease
device cost, enable multiple devices connectivity, optimize network
architecture and consumes low power. This technology is expected to
use resource blocks of the normal LTE carrier or unused resource
blocks of guard bands of the LTE carrier. The developing ecosystem of
IoT is the key trends influencing the growth of NB-IoT
market. Along with this, expanding network of connected devices
throughout is globe is paving the growth of NB-IoT market. Presently,
NB-IoT deployment is characterized on three scenarios viz.
standalone, guard band and In Band, of which standalone and guard
band deployment of NB-IoT offers optimum performance and superior
indoor coverage.
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The elevating growth of NB-IoT technology possess strong revenue
potential in near future. The revenue generation is expected to be
largely from those end-use verticals which have started adoption of
IoT technology. On the basis of end-use industry, NB-IoT market is
segmented as agriculture, healthcare, automotive & logistics,
manufacturing, energy and utilities and retail. With shifting
consumer interests in IoT ecosystem, NB-IoT is likely to be adopted
in various applications. In terms of applications, NB-IoT market is
further classified as smart metering especially in gas, electricity
and water meters, facility management services, safety and security
systems, connected personal appliances especially the one used in
healthcare industry, connected industrial appliances and people and
animal tracking. Companies which are in the development of NB-IoT
services, have shown some crucial developments occurred in recent
past. For instance, Huawei Technologies Co. Ltd. released world’s
first NB-IoT commercial chip in Global MBB forum health at Hong Kong.
Similarly in February 2016, Nokia along with Intel Corporation and
Vodafone group demonstrated NB-IoT at Mobile World Congress held at
Barcelona, Spain.
Significant penetration of Internet among developed economies and
rising penetration of the same amongst nascent economies is the
primary growth driver of NB-IoT market. Alongside, escalating demand
for low power indoor connectivity among connected devices is further
uplifting the NB-IoT market. However, lack of awareness amongst large
pool of consumers is expected to restrain the growth of NB-IoT
market. This factor is expected to have a moderate impact on the
market growth throughout the forecast period. With IoT is still
increasing its footprint globally, NB-IoT holds strong market
oppournity to develop its footprint across the world.
Moreover, government agencies promoting IoT with proposing new
development policies and developing digital infrastructure. NB-IoT is
expected to get appreciated among all the leading economies around
the globe. Also, rising worldwide events to promote IoT is expected
to result in widespread adoption of NB-IoT technology. For instance,
in November 2016, Istanbul is expected to organize smart city expo
world congress. Similarly, with the initiative of Euroforum,
Amsterdam will hold smart city event in June 2016. Alongside this, in
January 2016 government of India proposed development/urban makeover
of its 100 cities under the smart city project. This evolving
ecosystem of IoT is expected to boost the market of NB-IoT is coming
years.
Some of the leading companies in development of NB-IoT are Huawei
Technologies Co., Ltd., Ericsson AB, Qualcomm Technologies, Inc.,
Deutsche Telekom AG, Vodafone Group plc, Intel Corporation, and Nokia
Solutions and Network.
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