United States Narrowband IoT Platform Services Market was valued at USD 0.6 Billion in 2022 and is projected to reach USD 1.8 Billion by 2030, growing at a CAGR of 15.2% from 2024 to 2030.
The US Narrowband IoT Platform Services Market has seen significant growth, driven by the increasing demand for IoT solutions across industries. Narrowband IoT (NB-IoT) is a Low Power Wide Area (LPWA) technology specifically designed to provide wide-area coverage for connected devices. In recent years, businesses from various sectors have begun realizing the potential of NB-IoT in offering affordable, reliable, and efficient connectivity. The importance of this technology is evident as industries such as agriculture, healthcare, logistics, and utilities increasingly turn to NB-IoT platform services to streamline operations, reduce costs, and enhance productivity.
Key industries driving the demand for US Narrowband IoT platform services include manufacturing, energy, and transportation. The manufacturing sector, for example, leverages NB-IoT for smart factory solutions, enabling real-time monitoring of equipment and machinery. The energy sector uses it for monitoring energy consumption and managing distributed assets efficiently. Similarly, the transportation industry takes advantage of NB-IoT for vehicle tracking and fleet management, enhancing route optimization and reducing operational costs.
The rapid adoption of NB-IoT technology across these industries is primarily due to the technology’s ability to connect a large number of devices with minimal power consumption. This is particularly critical for industries like agriculture, where remote monitoring of assets, such as soil moisture sensors or irrigation systems, helps improve crop yield and resource management. In healthcare, NB-IoT plays a crucial role in enabling connected medical devices, such as wearable health monitors, providing real-time data to healthcare providers for better patient management.
The US Narrowband IoT Platform Services Market is also seeing increasing demand as organizations seek scalable solutions that can support vast networks of IoT devices with minimal infrastructure. This demand is fueled by the need for increased automation, smarter cities, and an interconnected global ecosystem. Moreover, with the rise of 5G technology, the efficiency and capabilities of NB-IoT are set to improve even further, creating more opportunities for innovation across multiple sectors.
As industries continue to explore the potential of NB-IoT, it is clear that these platforms are more than just a passing trend. They are integral to shaping the future of connected industries, unlocking new business models, and providing solutions to long-standing operational challenges.
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Narrowband IoT Platform Services Market
Device Management Services
Connectivity Management Services
Application Enablement Services
Security Services
Data Analytics Services
Cloud-based
On-premises
Hybrid
Healthcare
Agriculture
Smart Cities
Automotive
Manufacturing
Logistics and Transport
Hardware
Software
Services
LPWAN (Low Power Wide Area Network)
CMP (Carrier-Grade Management Platforms)
Network Protocols
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Narrowband IoT Platform Services Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Narrowband IoT Platform Services Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Narrowband IoT Platform Services Market, By Type
6. US Narrowband IoT Platform Services Market, By Application
7. US Narrowband IoT Platform Services Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Narrowband IoT Platform Services Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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