Narrowband-IoT (NB-IoT) chipsets are used across multiple industry verticals. These chipsets are of high value, as they significantly improve user devices' power consumption, system capacity, and spectrum efficiency, especially in deep coverage. The growth of the Narrowband-IoT (NB-IoT) chipsets market is mainly attributed to the growing demand for wearable devices for health monitoring, rapid adoption of IoT and connected devices, and increasing machine-to-machine communication.

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Additionally, rising government initiatives to build smart cities and a surge in demand for long-range communication provide significant growth opportunities for players operating in the Narrowband-IoT (NB-IoT) chipsets market.

The increasing demand for wearable devices for health monitoring to propel market growth

The growing penetration of internet services across the world has driven the demand for wearable devices. Companies like Apple, Google, and Samsung are focusing on manufacturing wearable devices that are user-friendly. Various companies are developing Narrowband-IoT (NB-IoT) chipset-based smart wearable devices for delivering value in the space of health management.

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For instance, Sony and Ericsson partnered together to develop a wearable device for monitoring glucose levels in diabetes patients. Moreover, in June 2020, Philips received the FDA approval for utilizing its patient monitoring solutions to treat COVID-19 patients.

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Key Players:
The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past three years. The key players operating in the Narrowband-IoT (NB-IoT) chipsets market are Qualcomm Inc. (U.S.), MediaTek Inc. (Taiwan), Intel Corporation (U.S.), Samsung Electronics Co. Ltd. (South Korea), ZTE Corporation (China), Huawei Technologies Co. Ltd. (China), Nordic Semiconductor (Norway), U-Blox Holding AG (Switzerland), Sequans communications (France), GCT Semiconductor (U.S.), Altair Semiconductor (Israel), Sierra Wireless (Canada), Xiamen Cheerzing IoT Technology CO. Ltd. (China), and Simcom Wireless Solution Co. Ltd. (China).