Enhanced with market attractiveness analysis, total addressable market evaluation, company benchmarking matrices, interactive Excel dashboards, expanded supply chain intelligence, emerging startup coverage, and detailed product insights, The Business Research Company’s 2026 market reports deliver more actionable and strategically valuable research.
Narrowband Internet Of Things (IoT) Chipset Market Growth Potential: How Will Market Size Change Through 2030?
The market for narrowband Internet of Things (IoT) chipsets has expanded significantly in recent years. Projections indicate a rise in its value from $11.3 billion in 2025 to $14.09 billion in 2026, maintaining a compound annual growth rate (CAGR) of 24.7%. Historically, this growth was driven by factors such as the early rollout of LTE networks, an increase in smart meter deployments, the need for low-power wide-area networks, decreasing costs of IoT modules, and the standardization of NB-IoT protocols.
The narrowband Internet of Things (IoT) chipset market is poised for significant expansion in the coming years. It is projected to achieve a value of $34.13 billion by 2030, exhibiting a robust compound annual growth rate (CAGR) of 24.7%. This anticipated growth during the forecast period is driven by factors such as the extensive proliferation of IoT devices, considerable investments in smart city infrastructure, a rising demand for devices with prolonged battery life, the increasing adoption of asset tracking solutions, and the expansion of cellular IoT coverage. Prominent trends within this period include advancements in ultra-low power chipsets, improved coverage for remote and underground connectivity, the deployment of cost-optimized mass IoT solutions, the integration of chipsets with cellular modules, and the optimization of battery life for devices requiring infrequent data transmission.
Download A Free Sample Report For Comprehensive Market Insights:
#Narrowband Internet Of Things (IoT) Chipset Market Demand Drivers Creating New Revenue Opportunities
Future expansion of the narrowband internet of things (IoT) chipset market is anticipated to be driven by the growing integration of internet of things (IoT) devices. These devices are physical entities equipped with sensors and software, connecting to the Internet to facilitate real-time observation, automation, and informed decision-making based on data. Their increasing uptake stems from their capacity for real-time data gathering and analysis, empowering businesses and individuals to make quicker, more intelligent choices, thereby enhancing efficiency, productivity, and user convenience. The expanding deployment of IoT devices fuels the demand for NB-IoT chipsets, which deliver the essential low-power, wide-area connectivity crucial for the effective and dependable functioning of numerous IoT applications. For example, a report from Ericsson, a networking and telecommunications firm based in Sweden, projected nearly 4 billion cellular IoT connections by the close of 2024, an increase from 3.4 billion recorded at the end of 2023. By the end of 2029, Broadband IoT is forecasted to comprise over 60% of these cellular IoT connections, predominantly via 4G technology. Consequently, the heightened embrace of internet of things (IoT) devices is stimulating the growth of the narrowband internet of things (IoT) chipset market.
Narrowband Internet Of Things (IoT) Chipset Market Segment Landscape: Which Areas Lead Market Development?
The narrowband internet of things (iot) chipset market covered in this report is segmented –
1) By Component: Solution, Hardware
2) By Deployment: Guard-Band, In-Band, Standalone
3) By Application: Smart Meters, Asset Tracking, Healthcare Monitoring
4) By Vertical: Consumer Electronics, Agriculture, Building Automation, Automotive, Infrastructure, Healthcare, Safety And Security
Subsegments:
1) By Solution: Network Management, Device Management, Application Enablement
2) By Hardware: Modules, Sensors, Processors, Power Management Units
Narrowband Internet Of Things (IoT) Chipset Market Transformation Trends: Which Innovations Are Driving Change?
Leading companies in the narrowband internet of things (IoT) chipset market are prioritizing advancements in chipset technology to improve connectivity, efficiency, and the range of applications. Chipset technology refers to a set of integrated circuits that manage the flow of data among a device’s CPU, memory, and peripherals, ensuring effective communication and performance. For example, in April 2023, Renesas Electronics Corporation, a Japan-based company known for its advanced semiconductor solutions, launched the RH1NS200, an NB-IoT (narrowband internet of things) modem chipset developed specifically for the Indian market. This chipset is considered an optimal choice for the Indian smart metering market and operates smoothly on the networks of all major telecom providers in the country. It offers remarkably low power consumption, drawing only 1 uA in deep sleep mode, which substantially extends battery life. This launch aligns with Renesas’ strategic goal to expand its global reach and support India’s digital transformation efforts through advanced and reliable IoT technologies.
Narrowband Internet Of Things (IoT) Chipset Market Industry Leaders And Market Competition
Major companies operating in the narrowband internet of things (iot) chipset market are Samsung Electronics Co. Ltd., Verizon Communications Inc., Huawei Technologies Co. Ltd., Qualcomm Technologies Inc., Telefonaktiebolaget LM Ericsson, Nokia Corporation, MediaTek Inc., STMicroelectronics NV, Renesas Electronics Corporation, Sercomm Corporation, u-blox AG, Nordic Semiconductor ASA, Semtech Corporation, Telit Cinterion, Ceva INC., SIMCom Wireless Solutions Limited, Sony Semiconductor Israel Ltd., Skylo Technologies Inc., GCT Semiconductor Holding Inc., 1NCE Inc.
Access The Complete Narrowband Internet Of Things (IoT) Chipset Market Report:
Narrowband Internet Of Things (IoT) Chipset Market Regional Analysis: Which Region Leads By Revenue?
North America was the largest region in the narrowband internet of things (IoT) chipset market in 2025. The regions covered in the narrowband internet of things (iot) chipset market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Get in touch with us:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas: +1 310-496-7795
Asia: +44 7882 955267 & +91 8897263534
Europe: +44 7882 955267
Email us at: marketing@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.