Europe Narrowband Internet-of-Things (IoT) Chipset Market, Emerging Trends, Technological Advancements, and Business Strategies 2024-2030

Europe Narrowband IoT Chipset Market size was valued at US$ 312.5 million in 2024 and is projected to reach US$ 678.9 million by 2030, at a CAGR of 13.8% during the forecast period 2024-2030.Narrowband IoT chipsets are specialized semiconductors designed for low-power, wide-area network (LPWAN) IoT applications.The market is experiencing rapid growth due to increasing deployment of IoT devices in various sectors. NB-IoT technology offers advantages in terms of power efficiency and coverage for certain IoT applications. Ongoing standardization efforts and network rollouts are supporting market expansion.Report IncludesThis report is an essential reference for who looks for detailed information on Europe Narrowband Internet-of-Things (IoT) Chipset. The report covers data on Europe markets including historical and future trends for supply, market size, prices, trading, competition and value chain as well as Europe major vendors¡¯ information. In addition to the data part, the report also provides overview of Narrowband Internet-of-Things (IoT) Chipset, including classification, application, manufacturing technology, industry chain analysis and latest market dynamics. Finally, a customization report in order to meet user's requirements is also available.This report aims to provide a comprehensive presentation of the Europe Narrowband Internet-of-Things (IoT) Chipset, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Narrowband Internet-of-Things (IoT) Chipset. This report contains market size and forecasts of Narrowband Internet-of-Things (IoT) Chipset in Europe, including the following market information: We surveyed the Narrowband Internet-of-Things (IoT) Chipset manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.Total Market by Segment:

by Country

•    Germany •    United Kingdom •    France •    Italy •    Spain •    Netherlands •    Belgium

by Products type:

•    Stand-Alone •    Guard Band •    In-Band

by Application:

•    Trackers •    Wearable Devices •    Smart Appliances •    Smart Metering •    Alarms •    Detectors •    Other

key players include: (At least 8-10 companies included)

•    u-blox •    Sequans Communications •    Nordic Semiconductor •    Telit Communications •    Sierra Wireless •    Gemalto NV •    Huawei Technologies Co., Ltd. •    Qualcomm Incorporated •    STMicroelectronics •    Thales GroupIncluding or excluding key companies relevant to your analysis.

Competitor Analysis

The report also provides analysis of leading market participants including: •    Key companies Narrowband Internet-of-Things (IoT) Chipset revenues in Europe market, 2019-2024 (Estimated), ($ millions) •    Key companies Narrowband Internet-of-Things (IoT) Chipset revenues share in Europe market, 2023 (%) •    Key companies Narrowband Internet-of-Things (IoT) Chipset sales in Europe market, 2019-2024 (Estimated), •    Key companies Narrowband Internet-of-Things (IoT) Chipset sales share in Europe market, 2023 (%)

Drivers

1. Rising Adoption of IoT Across Various Sectors The rapid growth of the Internet of Things (IoT) in Europe is a key driver of the Narrowband IoT (NB-IoT) chipset market. With applications ranging from smart cities, healthcare, and agriculture to smart homes and industrial automation, there is an increasing demand for low-power, wide-area network (LPWAN) technologies like NB-IoT. The ability of NB-IoT to provide reliable and long-range connectivity for billions of IoT devices is boosting chipset adoption in various industries.
2. Government Support for IoT Deployment and Smart Infrastructure European governments are actively supporting the deployment of IoT infrastructure to enhance connectivity and improve efficiency in various sectors. Initiatives such as the European Union’s “Digital Agenda for Europe” and other smart city programs are promoting the use of NB-IoT to drive the adoption of smart metering, environmental monitoring, and intelligent transportation systems. This support, combined with funding for smart infrastructure projects, is propelling the demand for NB-IoT chipsets.
3. Energy Efficiency and Low Power Consumption of NB-IoT NB-IoT technology is optimized for low power consumption, allowing IoT devices to operate for years on a single battery charge. This characteristic makes NB-IoT ideal for applications such as smart meters, remote monitoring, and asset tracking, where devices need to function over long periods without frequent maintenance. The energy efficiency of NB-IoT chipsets is particularly attractive for European companies focused on sustainability and cost reduction, driving adoption across industries.
4. Expanding Use of NB-IoT in Utilities and Smart Metering Europe is experiencing a surge in demand for smart metering solutions, particularly in the energy, water, and gas sectors. NB-IoT chipsets are ideal for these applications due to their ability to provide secure, low-bandwidth connectivity with minimal power requirements. As utility companies across Europe move towards smart grids and intelligent energy management systems, the need for NB-IoT chipsets to power these systems is increasing.

Restraints

1. Limited Data Transmission Speeds One of the primary limitations of NB-IoT technology is its relatively low data transmission speed compared to other wireless communication standards like LTE and 5G. This limitation restricts its use in high-bandwidth applications such as real-time video streaming or large data transfers. While NB-IoT is ideal for low-power, low-data-rate applications, this limitation may hinder its adoption in sectors requiring more data-intensive IoT solutions.
2. Competition from Other LPWAN Technologies While NB-IoT is a leading LPWAN technology, it faces stiff competition from alternatives such as LoRa (Long Range) and Sigfox, which are also popular in Europe for IoT applications. Both LoRa and Sigfox offer similar advantages in terms of low power consumption and wide-area connectivity but have different deployment models and cost structures. This competition presents a challenge to the NB-IoT chipset market, as businesses may choose other technologies based on their specific needs and deployment preferences.
3. Fragmentation in IoT Standards and Protocols The IoT landscape in Europe is characterized by fragmented standards and protocols, with different industries and regions adopting varying technologies. This lack of standardization complicates the integration of IoT solutions, including NB-IoT, into existing infrastructures. The absence of a unified standard may slow down NB-IoT adoption as companies seek to avoid potential compatibility issues with other technologies and future-proof their investments.
4. High Initial Deployment Costs Although NB-IoT is more cost-effective in terms of long-term energy consumption, the initial deployment of NB-IoT networks can be expensive. Companies need to invest in NB-IoT-enabled devices, network upgrades, and compatible infrastructure, which may deter small and medium-sized enterprises (SMEs) from adopting the technology. These high upfront costs could act as a restraint, particularly in price-sensitive sectors like agriculture or municipal services.

Opportunities

1. Growth in Smart Cities and Infrastructure Projects Europe is leading the charge in the development of smart cities, driven by the need for sustainable urban growth, efficient resource management, and enhanced quality of life. NB-IoT chipsets are well-suited for a wide range of smart city applications, including waste management, parking systems, street lighting, and air quality monitoring. As more European cities integrate IoT technologies into their infrastructure, the demand for NB-IoT chipsets is expected to rise significantly.
2. Expansion of 5G Networks The rollout of 5G networks across Europe presents a major opportunity for NB-IoT chipset manufacturers. 5G networks are designed to support massive IoT deployments, and NB-IoT is recognized as a key part of the 5G ecosystem. As telecommunications operators continue to upgrade their infrastructure to support 5G, the integration of NB-IoT into these networks will open up new opportunities for chipset providers, particularly in industrial IoT applications like predictive maintenance and supply chain management.
3. Rising Demand for Connected Healthcare Solutions The healthcare sector in Europe is increasingly adopting IoT solutions to improve patient care, monitor chronic conditions, and manage medical assets. NB-IoT chipsets play a crucial role in enabling low-power, long-range connectivity for medical devices, wearable health monitors, and remote patient monitoring systems. As the demand for connected healthcare solutions grows, especially with the rising focus on telemedicine and home healthcare, NB-IoT chipset manufacturers are well-positioned to capitalize on this trend.
4. Agricultural IoT Applications The European agricultural sector is witnessing a transformation, with farmers adopting IoT technologies to enhance productivity, optimize resource use, and reduce environmental impact. NB-IoT chipsets are increasingly being used in applications like soil moisture sensors, livestock tracking, and automated irrigation systems. The low power consumption and long-range connectivity of NB-IoT make it ideal for rural and remote agricultural areas, creating growth opportunities for chipset manufacturers targeting the agricultural IoT market.

Challenges

1. Network Coverage and Connectivity Issues While NB-IoT networks are expanding across Europe, there are still challenges in providing consistent coverage, particularly in rural and remote areas. Certain applications, such as agricultural IoT, rely heavily on uninterrupted connectivity. Inadequate coverage in less populated regions may limit the effectiveness of NB-IoT solutions, especially in applications that require reliable and continuous data transmission. Overcoming this challenge will require investments in network infrastructure and further collaboration between network operators and chipset manufacturers.
2. Security Concerns with IoT Networks As IoT deployments increase, so do concerns around data security and privacy. NB-IoT devices, especially those used in critical applications like healthcare, smart grids, and industrial automation, are potential targets for cyberattacks. Ensuring robust security features within NB-IoT chipsets is critical to building trust and encouraging widespread adoption. Manufacturers will need to address these concerns by incorporating advanced encryption and authentication protocols into their chipsets to mitigate potential risks.
3. Longer Development Cycles for IoT Solutions The development of IoT solutions, including those using NB-IoT chipsets, often requires longer cycles due to the need for customization and testing across various applications and environments. This delay can slow down time-to-market, making it harder for companies to quickly capitalize on emerging opportunities. Additionally, IoT solutions often need to be tailored to specific industries, which adds complexity to the development process.
4. Environmental and Regulatory Pressures Europe has stringent environmental regulations, and the production, use, and disposal of electronic components, including NB-IoT chipsets, are subject to regulatory scrutiny. Compliance with regulations such as the Restriction of Hazardous Substances (RoHS) and the Waste Electrical and Electronic Equipment (WEEE) Directive can increase production costs and complicate the supply chain. Additionally, regulatory uncertainties surrounding spectrum allocation for IoT technologies could pose challenges for the growth of the NB-IoT chipset market.

Key Points of this Report: •    The depth industry chain includes analysis value chain analysis, porter five forces model analysis and cost structure analysis •    The report covers Europe and country-wise market of Narrowband Internet-of-Things (IoT) Chipset •    It describes present situation, historical background and future forecast •    Comprehensive data showing Narrowband Internet-of-Things (IoT) Chipset capacities, production, consumption, trade statistics, and prices in the recent years are provided •    The report indicates a wealth of information on Narrowband Internet-of-Things (IoT) Chipset manufacturers •    Narrowband Internet-of-Things (IoT) Chipset forecast for next five years, including market volumes and prices is also provided •    Raw Material Supply and Downstream Consumer Information is also included •    Any other user's requirements which is feasible for usReasons to Purchase this Report: •    Analyzing the outlook of the market with the recent trends and SWOT analysis •    Market dynamics scenario, along with growth opportunities of the market in the years to come •    Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects •    Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market. •    Market value (USD Million) and volume (Units Million) data for each segment and sub-segment •    Distribution Channel sales Analysis by Value •    Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years •    Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players •    1-year analyst support, along with the data support in excel format.