Narrowband Internet Of Things (IoT) Chipset Market Report 2026

Narrowband Internet Of Things (IoT) Chipset Market Overview

• Narrowband Internet Of Things (IoT) Chipset market size has reached to $11.3 billion in 2025 • Expected to grow to $34.13 billion in 2030 at a compound annual growth rate (CAGR) of 24.7% • Growth Driver: Increasing Adoption Of Internet Of Things (IoT) Devices Fueling The Growth Of The Market Due To Rising Demand For Real-Time Data Monitoring Across Industries • Market Trend: Advancements In Chipset Technology Driving Growth In The Market Through Enhanced Connectivity And Efficiency • North America was the largest region in 2025.

What Is Covered Under Narrowband Internet Of Things (IoT) Chipset Market?

Narrowband internet of things (NB-IoT) chipsets are specialized hardware parts made to allow internet of things (IoT) devices to connect to cellular networks with minimal power consumption and extensive coverage. They are optimized for applications requiring infrequent communication, extended battery life, and reliable coverage in challenging environments such as underground or remote areas. This technology supports the expansion of IoT by offering a cost-effective, energy-efficient solution for connecting massive numbers of devices. The main components of a narrowband internet of things (IoT) chipset are the solution and hardware. The solution refers to the software and service packages that manage and optimize NB-IoT network operations. They are deployed through guard-band, in-band, and standalone models. These are used in various applications, including smart meters, asset tracking, and healthcare monitoring, and are adopted across different verticals such as consumer electronics, agriculture, building automation, automotive, infrastructure, healthcare, and safety and security.

What Is The Narrowband Internet Of Things (IoT) Chipset Market Growth Forecast?

The narrowband internet of things (iot) chipset market size is expected to see exponential growth in the next few years. It will grow to $34.13 billion in 2030 at a compound annual growth rate (CAGR) of 24.7%. The growth in the forecast period can be attributed to massive IoT device proliferation, smart city infrastructure investments, demand for long-life battery devices, growth in asset tracking solutions, expansion of cellular IoT coverage. Major trends in the forecast period include ultra-low power chipset innovation, extended coverage for remote and underground connectivity, cost-optimized mass IoT deployments, chipset integration with cellular modules, long battery life optimization for infrequent data transmission.

Global Narrowband Internet Of Things (IoT) Chipset Market Segmentation

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

What Is The Driver Of The Narrowband Internet Of Things (IoT) Chipset Market?

The increasing adoption of internet of things (IoT) devices is expected to propel the growth of the narrowband internet of things (IoT) chipset market going forward. IoT devices are physical objects with sensors and software that connect to the Internet, enabling real-time monitoring, automation, and data-driven decisions. The adoption of internet of things (IoT) devices is rising as they enable real-time data collection and analysis, allowing businesses and individuals to make faster, smarter decisions that improve efficiency, productivity, and convenience. The growing use of IoT devices is driving demand for NB-IoT chipsets, as they provide the low-power, wide-area connectivity needed for efficient and reliable operation of many IoT applications. For instance, in 2024, according to a report published by Ericsson, a Sweden-based networking and telecommunications company, there were expected to be close to 4 billion cellular IoT connections by the end of 2024, up from 3.4 billion at the end of 2023. Broadband IoT is expected to account for over 60% of cellular IoT connections by the end of 2029, with 4G connecting the majority of these connections. Therefore, the growing adoption of internet of things (IoT) devices is driving the expansion of the narrowband internet of things (IoT) chipset industry.

Key Players In The Global Narrowband Internet Of Things (IoT) Chipset Market

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.

Global Narrowband Internet Of Things (IoT) Chipset Market Trends and Insights

Major companies operating in the narrowband internet of things (IoT) chipset market are focusing on advancements in chipset technology to enhance connectivity, efficiency, and application range. Chipset technology is a collection of integrated circuits that control data flow between a device's peripherals, memory, and CPU, facilitating effective performance and communication. For instance, in April 2023, Renesas Electronics Corporation, a Japan-based company that offers advanced semiconductor solutions, launched the RH1NS200, an NB-IoT (narrowband internet of things) modem chipset designed especially for the Indian market. It is positioned as an ideal option for the Indian smart metering market and runs smoothly on the networks of all the main telecom providers in the country. It offers extremely low power consumption of only 1 uA in deep sleep mode, significantly extending battery life. This launch aligns with Renesas' strategy to expand its global footprint and support India's digital transformation initiatives through advanced and reliable IoT technologies.

What Are Latest Mergers And Acquisitions In The Narrowband Internet Of Things (IoT) Chipset Market?

In August 2024, Qualcomm Technologies Inc., a US-based wireless technology company, acquired Sequans Communications for $0.2 million. With this acquisition, the company aims to enhance its low-power connectivity portfolio and reinforce its leadership in industrial and embedded IoT solutions. Sequans Communications is a France-based manufacturer of narrowband internet of things (IoT) chipsets.

Regional Outlook

North America was the largest region in the narrowband internet of things (IoT) chipset market in 2025. The regions covered in this market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in this market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

What Defines the Narrowband Internet Of Things (IoT) Chipset Market?

The narrowband internet of things (NB-IoT) chipset market consists of sales of modules, integrated circuits, and system-on-chip (SoCs). Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What Key Data and Analysis Are Included in the Narrowband Internet Of Things (IoT) Chipset Market Report 2026?

The narrowband internet of things (iot) chipset market research report is one of a series of new reports from The Business Research Company that provides market statistics, including industry global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the narrowband internet of things (iot) chipset industry. The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.