Internet of things (IoT) Market Propelled by Growing Adoption of Narrowband IoT (NB-IoT)

Published on : Dec 13, 2018

Albany, New York, December 13, 2018: The past couple of years of Internet of Things (IoT) predictions and market projections are a reflection of companies’ high hopes for return on investment (RoI). The global IoT enterprise market is estimated to attain whooping USD 318 billion, a staggering 245% surge over 2018. The soaring use of internet underlies the growth of IoT—experts project over 75 billion devices will be connected to the internet of things by 2025. Besides, spike in the demand for automation technologies and shrinking smart sensors cost are set to act as a force in the augmentation of IoT. These insights are according to the report titled, “IoT Market Forecast and Growth Opportunities,” which has been lately incorporated in the archive of Market Research Hub (MRH). Further, investment in IoT solutions is further set to propel the internet of things market.

Given the devices connected to the internet have soared, the proficiency of narrowband IoT (NB-IoT) has been bolstered. Operators are estimated to be showered with over USD 6 billion revenue through NB-IoT connectivity by the end of 2018. NB-IoT applications include but are not limited to, tracking of humans, animals or objects; smart metering; fire alarms for commercial and home properties; air compressors or welding machines and facility management services. No wonder telecommunication stalwarts such as Ericsson, Huwaei, Vodafone and Qualcomm have vouched for NB-IoT.

Enhancing speed and supply chains has been the focal point for organizations. Undoubtedly, IoT possesses the potentiality to redefine and delineate compliance, quality management, manufacturing intelligence and traceability. IoT market has been powered by its overwhelming adoption in government, manufacturing and utilities industries which cover over half of the market expenditure. With the view to augment an IoT based portfolio, telcos are vying for mergers, acquisitions, partnerships and joint ventures.

IoT Market: Report Content

The report provides a coherent analysis on the basis of IoT market. Further, the report delves into drivers for the IoT market, restraints, opportunities and trends of the market. Precisely, the report covers a thorough analysis of all factors of the value chain in IoT.

The thematic report furnishes a thorough analysis of the global IoT market size in with the view to assist in framing product development plans and optimize return on investment (RoI) and resource allocation. Furthermore, the report analyzes possible opportunities in the market and recommendations for vendors and telcos. Nevertheless, the report, purely designed for executed level audience, will provide a holistic view on the approaches and strategies telecos can embrace to expand footprints in IoT value chain.

Section one of the report is dedicated to the market taxonomy, thereby giving introduction to internet of things (IoT) and forecast coverage while section two peruses on the IoT revenue and forecast. The last section discusses findings and recommendations for telecos vying for IoT opportunity.

IoT Market: Research Methodology

An exhaustive research methodology has been embraced with regards to providing a research approach incorporating of secondary and primary research. The insights in the report is the result of an in-depth secondary research, primary interviews and in-house reviews by panel of experts. One of the unique features of this report is that analysis has been done on the basis of absolute dollar opportunity which is often shunned while projecting the market.

The secondary research embodies company websites, SEC filings and presentations by investors, industry white paper and statistical database. The primary research embodies face to face interviews, phonic interviews and e-mail interaction. To furnish the readers with an unbiased report, a panel of expert analyzes the data collected from various sources.

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