Private Narrowband IoT Market

ID: MRFR/ICT/7127-CR

144 Pages

Shubham Munde

November 2019

Private Narrowband IoT Market Research Report By Application (Smart Agriculture, Smart Cities, Fleet Management, Asset Tracking), By Technology (Narrowband Radio Frequency, Low Power Wide Area Network, Cat-NB1), By End Use (Retail, Healthcare, Manufacturing, Transportation), By Deployment Model (On-Premise, Cloud-Based) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Private Narrowband IoT Market Infographic

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Summary Table of Contents Segmentation Infographic

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Private Narrowband IoT Market Summary

The Global Private Narrowband IoT Market is projected to maintain a valuation of 5.24 USD Billion from 2024 to 2035.

Key Market Trends & Highlights

Private Narrowband IoT Key Trends and Highlights

The market is expected to remain stable at a valuation of 5.24 USD Billion throughout the forecast period.
The compound annual growth rate (CAGR) for the market is projected to be 0.0% from 2025 to 2035.
Despite the lack of growth, the market continues to attract interest due to its established infrastructure.
Growing adoption of Private Narrowband IoT due to increasing demand for secure and reliable connectivity is a major market driver.

Private Narrowband IoT Market

CAGR

0.0%

Market Size & Forecast

2024 Market Size	5.24 (USD Billion)
2035 Market Size	5.24 (USD Billion)
CAGR (2025-2035)	0.0%

Major Players

TMobile, Deutsche Telekom, AT&T, Verizon, Qualcomm, IBM, Ericsson, Sigfox, Amazon Web Services, Cisco, Huawei, Semtech, Vodafone, Orange

Private Narrowband IoT Market Trends

The Private Narrowband IoT Market is witnessing significant growth driven by the increasing demand for efficient connectivity solutions across various industries. Key market drivers include the rapid adoption of IoT devices, the need for enhanced network security, and the growing focus on energy-efficient communication technologies. Businesses are seeking solutions that offer reliable data transmission while reducing operational costs. With the rise of smart cities and industrial automation, companies are increasingly leveraging narrowband IoT networks for applications in smart metering, asset tracking, and remote monitoring.

Opportunities exist for market participants to explore innovative applications in agriculture, healthcare, and logistics, where narrowband IoT can provide real-time data and support decision-making processes. The expansion in these areas provides opportunities for expansion and partnership, thereby increasing efficiency and productivity. Alliances between solution providers and customers can create innovative and tailored solutions that meet the market demand. Recent trends show an increasing preference for private IoT networks capable of meeting the requirements for a variety of applications. There’s no question now that private networks are becoming important as organizations want to keep their data safe and regulatory compliance.

Moreover, improvements in network technologies are enhancing performance and coverage, making narrowband IoT even more attractive.

As industries continue to embrace digital transformation, the private narrowband IoT market is poised for sustained growth, opening up new avenues for investment and innovation in the future.

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

The increasing demand for secure and efficient communication networks is driving the adoption of Private Narrowband IoT solutions across various sectors, reflecting a broader trend towards enhanced connectivity and data privacy.

U.S. Department of Commerce

Private Narrowband IoT Market Drivers

Growing Demand for IoT Solutions

The Global Private Narrowband IoT Market Industry experiences a surge in demand for IoT solutions across various sectors, including agriculture, healthcare, and manufacturing. This demand is driven by the need for enhanced connectivity and real-time data analytics. For instance, in agriculture, IoT devices facilitate precision farming, leading to increased crop yields and resource efficiency. The market is projected to reach 5.24 USD Billion by 2024, indicating a robust growth trajectory. This trend suggests that industries are increasingly recognizing the value of IoT in optimizing operations and improving decision-making processes.

Market Segment Insights

Private Narrowband IoT Market Application Insights

The Private Narrowband IoT Market is experiencing significant growth, particularly within the Application segment, which encompasses various sectors driving the technology's adoption. As of 2023, the market is valued at approximately 6.17 USD Billion, with projections indicating substantial growth by 2032, reaching around 27.0 USD Billion. This impressive expansion is fueled by numerous factors, including the increasing efficiency and connectivity that Narrowband IoT solutions provide across diverse applications.

Among these, the Smart Agriculture sector holds a valuation of 1.24 USD Billion in 2023, expected to grow to 5.4 USD Billion by 2032, making it a priority for stakeholders looking to innovate in agricultural practices through enhanced data collection and resource management, reflecting a growing global emphasis on food security and sustainable farming practices. Meanwhile, the Smart Cities domain is valued at 1.85 USD Billion in 2023, with a projected increase to 8.5 USD Billion by 2032, highlighting the significant investment in urban development and infrastructure efficiency.

This segment is essential as cities worldwide are increasingly leveraging IoT solutions to improve public services, reduce energy consumption, and enhance the overall quality of urban living. Fleet Management is another critical area within this market, valued at 1.25 USD Billion in 2023 and projected to reach 5.8 USD Billion in 2032. This technology is vital for logistics and transportation industries, where efficient tracking and management of vehicles can lead to cost savings and improved operational efficiency.

Asset Tracking, valued at 2.83 USD Billion in 2023 and anticipated to grow to 7.3 USD Billion by 2032, represents a significant portion of the Private Narrowband IoT Market as industries seek to minimize loss, enhance inventory management, and improve overall productivity. The demand for more efficient tracking solutions has grown due to the rising complexities in global supply chains. Collectively, these areas reflect the diverse applicability of the Private Narrowband IoT Market industry, with each segment playing a crucial role in driving advancements that lead to enhanced operational efficiencies and innovative solutions across various sectors.

As the market continues to evolve, the integration of Narrowband IoT technology appears poised to deliver substantial benefits, addressing various challenges while capturing significant market share in the forthcoming years, supported by ongoing technological advancements and increased adoption rates across sectors.

Private Narrowband IoT Market Technology Insights

The Private Narrowband IoT Market is evolving rapidly within the Technology segment, projected to reach a valuation of 6.17 USD billion in 2023 and expanding significantly to 27.0 USD billion by 2032. This market is characterized by a strong growth trajectory, primarily driven by increasing demand for connected devices and the need for efficient communication networks. Among the various technologies, Narrowband Radio Frequency plays a crucial role, enabling long-range communication with low power consumption, making it a preferred choice for applications like utility management and smart agriculture.

Low Power Wide Area Network significantly contributes to the landscape by providing extensive coverage for IoT devices without the need for frequent battery replacements, ideal for urban and rural deployments. Meanwhile, Cat-NB1 is gaining traction due to its cost-effectiveness and capabilities in supporting massive numbers of low-power devices, which is pivotal for industries such as logistics and smart cities. As this market continues to evolve, it presents numerous opportunities driven by advancements in technology and growing IoT adoption across diverse sectors, further enhancing the Private Narrowband IoT Market revenue potential.

The market growth is supported by a rising interest in connectivity solutions that offer scalable and robust options for data transmission with minimal infrastructure requirements.

Private Narrowband IoT Market End Use Insights

The Private Narrowband IoT Market is poised to exemplify robust expansion across various end-use sectors, contributing significantly to overall market growth. In 2023, the market value reached 6.17 USD billion, and it is projected to rise significantly by 2032. Retail is expected to adopt narrowband IoT solutions primarily for enhancing inventory management and customer engagement, thereby driving efficiency. Healthcare leverages this technology for remote patient monitoring and asset tracking, enhancing operational efficiency and patient outcomes. Manufacturing is transforming with IoT integration, optimizing processes and reducing downtime through predictive maintenance.

Transportation benefits from real-time vehicle tracking, leading to improved logistics and operational efficiency. Each sector highlights the critical role of the Private Narrowband IoT Market in advancing digital connectivity and operational productivity. As a result, the demand for tailored IoT solutions continues to grow, shaping market dynamics and presenting various opportunities for innovation and investment. The future-focused approach towards smart technology and automation showcased by these sectors underscores their significance in the broader Private Narrowband IoT Market landscape.

Private Narrowband IoT Market Deployment Model Insights

In 2023, the Private Narrowband IoT Market is valued at 6.17 billion USD, showcasing robust growth potential in various deployment models. The market is primarily segmented into two models: On-Premise and Cloud-Based. On-Premise deployment is often preferred for its enhanced security and control over data, making it significant for industries that require strict compliance and data governance. Cloud-Based deployment, on the other hand, offers scalability and flexibility, allowing businesses to efficiently manage their IoT devices without extensive infrastructure costs. This model is increasingly dominating, particularly among small to medium-sized enterprises seeking cost-effective solutions.

The combination of these deployment models caters to diverse business needs, driving market growth. Emerging trends such as increased connectivity, demand for real-time data analytics, and advancements in IoT technologies further amplify the relevance of these deployment methods in the Private Narrowband IoT Market. As organizations continue to adopt IoT solutions, the demand for deployment models that can support their unique requirements will likely contribute to the overall market expansion, with steady progress anticipated through 2032.

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Regional Insights

The Private Narrowband IoT Market showcases a diverse regional segmentation, where North America holds a significant market presence, valued at 2.25 USD Billion in 2023 and projected to expand to 10.8 USD Billion by 2032. This region dominates due to its advanced technology adoption and strong industrial presence. Europe follows with a market value of 1.5 USD Billion in 2023, increasing to 6.85 USD Billion by 2032, reflecting growing investments in IoT applications across various sectors.

The APAC region, valued at 1.75 USD Billion in 2023 and expected to reach 6.5 USD Billion by 2032, benefits from rapid economic growth and urbanization, making it a crucial player in the private narrowband IoT space. South America and MEA represent smaller market shares, valued at 0.35 USD Billion and 0.32 USD Billion in 2023, but show potential for growth, expected to reach 1.2 USD Billion and 2.65 USD Billion by 2032, respectively.

The opportunities in these regions arise from the increasing drive towards digital transformation and enhancing connectivity, supporting overall market growth within the Private Narrowband IoT Market industry.

Private Narrowband IoT Market Regional Insights

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

Key Players and Competitive Insights

The Private Narrowband IoT Market is characterized by rapid growth and a strong competitive landscape, driven by the increasing demand for secure and efficient communication solutions across various industries. As businesses look to capitalize on the advantages offered by IoT technologies, there is a notable emphasis on private networks that cater to specific organizational needs. With rising investments in smart infrastructure and advancements in IoT connectivity, companies operating in this market are continuously innovating to provide comprehensive services that focus on improved reliability, lower latency, and enhanced security.

The competitive dynamics are further shaped by evolving regulatory standards and an expanding ecosystem that includes hardware manufacturers, software providers, and telecommunications companies. This interplay results in a robust marketplace where providers must distinguish themselves through unique value propositions, strategic partnerships, and the ability to meet diverse customer requirements. TMobile has established a significant presence in the Private Narrowband IoT Market by leveraging its advanced network infrastructure and strong brand equity. The company's competitive advantages include its extensive coverage capabilities, which allow for seamless connectivity for IoT applications across various geographic regions.

TMobile's commitment to enhancing customer experiences through tailored solutions is another key strength. By fostering a user-centric approach, the company is well-positioned to address the specific needs of industries such as manufacturing, logistics, and smart cities. Moreover, TMobile's strategic focus on collaboration with partners to create integrated IoT solutions helps it strengthen its market position further, making it a formidable player in the private narrowband IoT space. Deutsche Telekom is another influential entity in the Private Narrowband IoT Market, recognized for its comprehensive service offerings and technological expertise.

The company has positioned itself as a leader through its investment in cutting-edge technologies and its commitment to research and development. Deutsche Telekom's strength lies in its ability to provide scalable solutions that cater to a diverse clientele while maintaining high standards for security and performance. Its global reach enhances its ability to serve multinational enterprises, while an emphasis on local partnerships facilitates tailored solutions that align with regional requirements. This adaptability and focus on innovation enable Deutsche Telekom to capitalize on emerging trends in the IoT landscape, ensuring its sustained relevance and competitiveness in the market.

Key Companies in the Private Narrowband IoT Market market include

Industry Developments

Recent developments in the Private Narrowband IoT Market have been influenced by significant advancements and strategic movements from leading companies. T-Mobile and Deutsche Telekom are enhancing their private network solutions, focusing on providing tailored connectivity for enterprise applications. AT&T and Verizon continue expanding their 5G capabilities, allowing for greater bandwidth and lower latency in their Narrowband IoT offerings. Qualcomm's innovations in semiconductor technology are bolstering device connectivity, while IBM's cloud solutions are integrating IoT applications with artificial intelligence for smarter data management. In the competitive landscape, Ericsson and Sigfox are collaborating to enhance rural connectivity, ensuring broader service coverage.

Amazon Web Services is leveraging its cloud infrastructure to support scalable IoT solutions, while Cisco is improving its edge computing capabilities for seamless data management. There have been reports of market growth valuations for several companies, which are ultimately affecting the broader Private IoT ecosystem. Additionally, the sector saw heightened interest in mergers and acquisitions, with companies exploring strategic partnerships to amplify their market presence and innovation capabilities, further propelling the industry's growth trajectory.

Future Outlook

Private Narrowband IoT Market Future Outlook

The Private Narrowband IoT Market is projected to maintain a 0.0% CAGR from 2024 to 2035, driven by advancements in connectivity and demand for secure data transmission.

New opportunities lie in:

Develop tailored solutions for industries like agriculture and manufacturing to enhance operational efficiency.
Invest in partnerships with telecommunications firms to expand network infrastructure for private IoT applications.
Leverage AI and machine learning to optimize data analytics for real-time decision-making in IoT deployments.

By 2035, the Private Narrowband IoT Market is expected to stabilize, reflecting evolving technological landscapes and user needs.

Market Segmentation

Private Narrowband IoT Market End Use Outlook

On-Premise
Cloud-Based

Private Narrowband IoT Market Regional Outlook

North America
Europe
South America
Asia Pacific
Middle East and Africa

Private Narrowband IoT Market Technology Outlook

Retail
Healthcare
Manufacturing
Transportation

Private Narrowband IoT Market Application Outlook

Narrowband Radio Frequency
Low Power Wide Area Network
Cat-NB1

Private Narrowband IoT Market Deployment Model Outlook

North America
Europe
South America
Asia Pacific
Middle East and Africa

Report Scope

Report Attribute/Metric	Details
Market Size 2022	5.24 (USD Billion)
Market Size 2023	6.17 (USD Billion)
Market Size 2032	27.0 (USD Billion)
Compound Annual Growth Rate (CAGR)	17.83% (2024 - 2032)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Base Year	2023
Market Forecast Period	2024 - 2032
Historical Data	2019 - 2023
Market Forecast Units	USD Billion
Key Companies Profiled	TMobile, Deutsche Telekom, AT and T, Verizon, Qualcomm, IBM, Ericsson, Sigfox, Amazon Web Services, Cisco, Huawei, Semtech, Vodafone, Orange
Segments Covered	Application, Technology, End Use, Deployment Model, Regional
Key Market Opportunities	Enhanced connectivity for industrial applications, Smart city infrastructure development, Remote monitoring and asset tracking, Sustainable agriculture solutions, Increased adoption of 5G technology
Key Market Dynamics	growing demand for connectivity, cost-effective solutions, increasing industrial automation, data privacy concerns, government support and initiatives
Countries Covered	North America, Europe, APAC, South America, MEA

Market Highlights

Private Narrowband IoT Companies

Author

Shubham Munde

Research Analyst Level II

With a technical background in information technology & semiconductors, Shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. He is the POC for our clients, for their consulting projects running under the ICT/Semiconductor domain. Shubham holds a Bachelor’s in Information and Technology and a Master of Business Administration (MBA). Shubham has executed over 150 research projects for our clients under the brand name Market Research Future in the last 2 years. His core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. He is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. He has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. He has worked on the projects of top tech brands such as IBM, Google, Microsoft, AWS, Meta, Oracle, Cisco Systems, Samsung, Accenture, VMware, Schneider Electric, Dell, HP, Ericsson, and so many others. He has worked on Metaverse, Web 3.0, Zero-Trust security, cyber-security, blockchain, quantum computing, robotics, 5G technology, High-Performance computing, data centers, AI, automation, IT equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.

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FAQs

What is the expected market size of the Private Narrowband IoT Market in 2032?

The Private Narrowband IoT Market is expected to reach a valuation of 27.0 USD Billion by 2032.

What is the estimated compound annual growth rate (CAGR) for the Private Narrowband IoT Market from 2024 to 2032?

The expected CAGR for the Private Narrowband IoT Market from 2024 to 2032 is 17.83%.

Which region is projected to have the largest market size in 2032?

North America is projected to have the largest market size, valued at 10.8 USD Billion in 2032.

What is the market size for Smart Agriculture in 2032?

The market size for Smart Agriculture is projected to reach 5.4 USD Billion in 2032.

Who are the major players in the Private Narrowband IoT Market?

Some of the major players include TMobile, Deutsche Telekom, AT T, Verizon, and Qualcomm.

What is the expected market size for Asset Tracking in 2032?

The market size for Asset Tracking is expected to be 7.3 USD Billion in 2032.

How much is the Private Narrowband IoT Market valued in 2023?

The Private Narrowband IoT Market is valued at 6.17 USD Billion in 2023.

What is the expected market size for Smart Cities in 2032?

The expected market size for Smart Cities is projected to be 8.5 USD Billion in 2032.

What is the projected market size for Fleet Management in 2032?

Fleet Management is expected to reach a market size of 5.8 USD Billion in 2032.

Which region follows North America in market size projections for 2032?

Europe follows North America, with a projected market size of 6.85 USD Billion in 2032.

Private Narrowband IoT Market Research Report - Global Forecast till 2032 Infographic

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