NB-IoT (Narrowband IoT) Chips Market size was valued at USD 1.2 Billion in 2024 and is projected to reach USD 6.5 Billion by 2033, exhibiting a CAGR of 20.5% from 2026 to 2033.
The global NB IoT (Narrowband IoT) chips market reached a valuation of USD 610 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 32.8% from 2022 to 2030. This surge in demand is driven by the rapid deployment of LPWAN (Low Power Wide Area Network) technologies in smart city infrastructure, utility metering, and industrial IoT applications. With growing investments in smart meters, environmental monitoring, and connected asset tracking, the NB IoT chip ecosystem is witnessing expansion across sectors that require low power consumption and extended coverage. The chips enable seamless communication in challenging radio environments, making them ideal for devices operating in deep indoor or underground conditions. The rising need for cost effective and energy efficient modules is fueling their integration in applications that demand high connection density and long battery life.
Regionally, Asia Pacific dominated the market in 2022, accounting for over 45% of the global revenue, fueled by massive IoT infrastructure developments in China, South Korea, and India. Europe followed with a significant share due to government led initiatives in smart utilities and connected agriculture. North America also saw growing adoption, particularly in utility and industrial monitoring, driven by regulatory pushes for smart grid deployment. The Middle East and Africa are emerging as promising markets with rising demand for IoT based water management and agricultural solutions. Key opportunities for growth lie in rural connectivity, remote asset monitoring, and the increasing number of smart city pilot projects in developing nations. The transition from legacy systems to NB IoT enabled solutions is expected to open up new application areas such as smart parking, street lighting, and precision farming, especially in underserved regions.
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Snapdragon
Hisilicon
RDA
Sanechips
Intel
Altair
Sequans
Nordic
GCT
MTK
SIMPLIGHT
MARVELL
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. 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 Global NB-IoT (Narrowband IoT) Chips Market
Smart Metering
Asset Tracking
Smart Agriculture
Healthcare
Smart Cities
Manufacturing
Energy and Utilities
Retail
Transportation and Logistics
Healthcare
NB-IoT Modem Chip
NB-IoT Communication Chip
LTE Cat-M
GSM
Wi-Fi
Bluetooth Low Energy (BLE)
Hardware
Software
Services
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 Global NB-IoT (Narrowband IoT) Chips 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. Global NB-IoT (Narrowband IoT) Chips Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global NB-IoT (Narrowband IoT) Chips Market, By Type
6. Global NB-IoT (Narrowband IoT) Chips Market, By Application
7. Global NB-IoT (Narrowband IoT) Chips Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global NB-IoT (Narrowband IoT) Chips Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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