Summary

Narrowband IoT Enterprise Application Market
The narrowband IoT enterprise application market was valued at $4.3 billion in 2023 and is projected to reach $19.0 billion by 2032, growing at a CAGR of 17.5% from 2024 to 2032.
Narrowband IoT is a wireless cellular technology that utilizes a low-power wide area network for functioning. This technology operates on existing cellular networks to offer energy-efficient connectivity for different Internet of Things (IoT) applications. Narrowband IoT finds application in industries that require large-scale deployment of connected devices such as manufacturing, logistics, and healthcare.
As several industries are inclining toward low-cost, energy-efficient solutions in their workflow, the narrowband IoT enterprise application market is being driven significantly owing to the extremely low power consumption of the application. In addition, exponential increase in the adoption of IoT devices is propelling the market growth due to surge in demand for scalable connectivity technology and asset management. With rising smart city projects, the trend of utilizing narrowband IoT enterprise applications in the urban infrastructure is acquiring notable traction currently. To optimize resource management, several cities are focusing on the deployment of narrowband IoT enterprise applications in services such as smart lighting, street parking management, and environmental monitoring.

However, the high latency and low data transmission capability of the application restricts its usage in high-bandwidth functions such as video streaming and real-time communication, which restrains the development of the market. On the contrary, expansion of the autonomous vehicles industry is projected to present lucrative opportunities for the narrowband IoT enterprise application market due to the critical role of the application in vehicle-to-everything communications. A global management consulting firm, McKinsey predicts 12% of new passenger cars to have L3+ autonomous technologies by 2030 and 37% of the vehicles to be incorporated with advanced AD technologies by 2035. Narrowband IoT enterprise application is projected to be necessary to support the infrastructure that facilitates autonomous driving such as traffic management systems and road condition monitoring.
Segment Review
The narrowband IoT enterprise application market is segmented into enterprise size, application, industry vertical, and region. On the basis of enterprise size, the market is bifurcated into large enterprise and small- & medium-sized enterprise. Depending on application, it is classified into smart metering, smart asset tracking, security solutions, smart parking management, and others. As per industry vertical, it is categorized into BFSI, manufacturing, IT & telecom, healthcare, retail, energy & utilities, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of enterprise size, the large enterprise segment was the highest shareholder in 2023.
Depending on application, the smart metering segment acquired a notable stake in the market in 2023.
As per industry vertical, the energy & utilities segment dominated the market in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition Analysis
The leading players operating in the global narrowband IoT enterprise application market include Huawei Technologies Co., Ltd., Ericsson AB, Qualcomm Incorporated, Nokia Corporation, Intel Corporation, Vodafone Group Plc, China Mobile Limited, Deutsche Telekom AG, AT&T Inc., Cisco Systems, Inc., ZTE Corporation, Sony Corporation, and Sierra Wireless, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.

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Key Market Segments
By Enterprise Size
● Large Enterprise
● Small and medium-sized Enterprise
By Application
● Smart Metering
● Smart Asset Tracking
● Security Solutions
● Smart Parking Management
● Others
By Industry Vertical
● BFSI
● Manufacturing
● IT and Telecom
● Healthcare
● Retail
● Energy and Utilities
● Others
By Region
● North America
○ U.S.
○ Canada
● Europe
○ France
○ Germany
○ Italy
○ Spain
○ UK
○ Rest of Europe
● Asia-Pacific
○ China
○ Japan
○ India
○ South Korea
○ Australia
○ Rest of Asia-Pacific
● LAMEA
○ Latin America
○ Middle East
○ Africa
● Key Market Players
○ Huawei Technologies Co., Ltd.
○ Ericsson AB
○ Qualcomm Incorporated
○ Nokia Corporation
○ Intel Corporation
○ Vodafone Group Plc
○ China Mobile Limited
○ Deutsche Telekom AG
○ AT&T Inc.
○ Cisco Systems, Inc.
○ ZTE Corporation
○ Sony Corporation
○ Sierra Wireless, Inc.

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools and Models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET LANDSCAPE
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
3.3.1. Bargaining Power of Suppliers
3.3.2. Threat of New Entrants
3.3.3. Threat of Substitutes
3.3.4. Competitive Rivalry
3.3.5. Bargaining Power among Buyers
3.4. Market Dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
CHAPTER 4: NARROWBAND IOT ENTERPRISE APPLICATION MARKET, BY ENTERPRISE SIZE
4.1. Market Overview
4.1.1 Market Size and Forecast, By Enterprise Size
4.2. Large Enterprise
4.2.1. Key Market Trends, Growth Factors and Opportunities
4.2.2. Market Size and Forecast, By Region
4.2.3. Market Share Analysis, By Country
4.3. Small And Medium-sized Enterprise
4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast, By Region
4.3.3. Market Share Analysis, By Country
CHAPTER 5: NARROWBAND IOT ENTERPRISE APPLICATION MARKET, BY APPLICATION
5.1. Market Overview
5.1.1 Market Size and Forecast, By Application
5.2. Smart Metering
5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Size and Forecast, By Region
5.2.3. Market Share Analysis, By Country
5.3. Smart Asset Tracking
5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast, By Region
5.3.3. Market Share Analysis, By Country
5.4. Security Solutions
5.4.1. Key Market Trends, Growth Factors and Opportunities
5.4.2. Market Size and Forecast, By Region
5.4.3. Market Share Analysis, By Country
5.5. Smart Parking Management
5.5.1. Key Market Trends, Growth Factors and Opportunities
5.5.2. Market Size and Forecast, By Region
5.5.3. Market Share Analysis, By Country
5.6. Others
5.6.1. Key Market Trends, Growth Factors and Opportunities
5.6.2. Market Size and Forecast, By Region
5.6.3. Market Share Analysis, By Country
CHAPTER 6: NARROWBAND IOT ENTERPRISE APPLICATION MARKET, BY INDUSTRY VERTICAL
6.1. Market Overview
6.1.1 Market Size and Forecast, By Industry Vertical
6.2. BFSI
6.2.1. Key Market Trends, Growth Factors and Opportunities
6.2.2. Market Size and Forecast, By Region
6.2.3. Market Share Analysis, By Country
6.3. Manufacturing
6.3.1. Key Market Trends, Growth Factors and Opportunities
6.3.2. Market Size and Forecast, By Region
6.3.3. Market Share Analysis, By Country
6.4. IT And Telecom
6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Market Size and Forecast, By Region
6.4.3. Market Share Analysis, By Country
6.5. Healthcare
6.5.1. Key Market Trends, Growth Factors and Opportunities
6.5.2. Market Size and Forecast, By Region
6.5.3. Market Share Analysis, By Country
6.6. Retail
6.6.1. Key Market Trends, Growth Factors and Opportunities
6.6.2. Market Size and Forecast, By Region
6.6.3. Market Share Analysis, By Country
6.7. Energy And Utilities
6.7.1. Key Market Trends, Growth Factors and Opportunities
6.7.2. Market Size and Forecast, By Region
6.7.3. Market Share Analysis, By Country
6.8. Others
6.8.1. Key Market Trends, Growth Factors and Opportunities
6.8.2. Market Size and Forecast, By Region
6.8.3. Market Share Analysis, By Country
CHAPTER 7: NARROWBAND IOT ENTERPRISE APPLICATION MARKET, BY REGION
7.1. Market Overview
7.1.1 Market Size and Forecast, By Region
7.2. North America
7.2.1. Key Market Trends and Opportunities
7.2.2. Market Size and Forecast, By Enterprise Size
7.2.3. Market Size and Forecast, By Application
7.2.4. Market Size and Forecast, By Industry Vertical
7.2.5. Market Size and Forecast, By Country
7.2.6. U.S. Narrowband IoT enterprise application Market
7.2.6.1. Market Size and Forecast, By Enterprise Size
7.2.6.2. Market Size and Forecast, By Application
7.2.6.3. Market Size and Forecast, By Industry Vertical
7.2.7. Canada Narrowband IoT enterprise application Market
7.2.7.1. Market Size and Forecast, By Enterprise Size
7.2.7.2. Market Size and Forecast, By Application
7.2.7.3. Market Size and Forecast, By Industry Vertical
7.3. Europe
7.3.1. Key Market Trends and Opportunities
7.3.2. Market Size and Forecast, By Enterprise Size
7.3.3. Market Size and Forecast, By Application
7.3.4. Market Size and Forecast, By Industry Vertical
7.3.5. Market Size and Forecast, By Country
7.3.6. France Narrowband IoT enterprise application Market
7.3.6.1. Market Size and Forecast, By Enterprise Size
7.3.6.2. Market Size and Forecast, By Application
7.3.6.3. Market Size and Forecast, By Industry Vertical
7.3.7. Germany Narrowband IoT enterprise application Market
7.3.7.1. Market Size and Forecast, By Enterprise Size
7.3.7.2. Market Size and Forecast, By Application
7.3.7.3. Market Size and Forecast, By Industry Vertical
7.3.8. Italy Narrowband IoT enterprise application Market
7.3.8.1. Market Size and Forecast, By Enterprise Size
7.3.8.2. Market Size and Forecast, By Application
7.3.8.3. Market Size and Forecast, By Industry Vertical
7.3.9. Spain Narrowband IoT enterprise application Market
7.3.9.1. Market Size and Forecast, By Enterprise Size
7.3.9.2. Market Size and Forecast, By Application
7.3.9.3. Market Size and Forecast, By Industry Vertical
7.3.10. UK Narrowband IoT enterprise application Market
7.3.10.1. Market Size and Forecast, By Enterprise Size
7.3.10.2. Market Size and Forecast, By Application
7.3.10.3. Market Size and Forecast, By Industry Vertical
7.3.11. Rest Of Europe Narrowband IoT enterprise application Market
7.3.11.1. Market Size and Forecast, By Enterprise Size
7.3.11.2. Market Size and Forecast, By Application
7.3.11.3. Market Size and Forecast, By Industry Vertical
7.4. Asia-Pacific
7.4.1. Key Market Trends and Opportunities
7.4.2. Market Size and Forecast, By Enterprise Size
7.4.3. Market Size and Forecast, By Application
7.4.4. Market Size and Forecast, By Industry Vertical
7.4.5. Market Size and Forecast, By Country
7.4.6. China Narrowband IoT enterprise application Market
7.4.6.1. Market Size and Forecast, By Enterprise Size
7.4.6.2. Market Size and Forecast, By Application
7.4.6.3. Market Size and Forecast, By Industry Vertical
7.4.7. Japan Narrowband IoT enterprise application Market
7.4.7.1. Market Size and Forecast, By Enterprise Size
7.4.7.2. Market Size and Forecast, By Application
7.4.7.3. Market Size and Forecast, By Industry Vertical
7.4.8. India Narrowband IoT enterprise application Market
7.4.8.1. Market Size and Forecast, By Enterprise Size
7.4.8.2. Market Size and Forecast, By Application
7.4.8.3. Market Size and Forecast, By Industry Vertical
7.4.9. South Korea Narrowband IoT enterprise application Market
7.4.9.1. Market Size and Forecast, By Enterprise Size
7.4.9.2. Market Size and Forecast, By Application
7.4.9.3. Market Size and Forecast, By Industry Vertical
7.4.10. Australia Narrowband IoT enterprise application Market
7.4.10.1. Market Size and Forecast, By Enterprise Size
7.4.10.2. Market Size and Forecast, By Application
7.4.10.3. Market Size and Forecast, By Industry Vertical
7.4.11. Rest of Asia-Pacific Narrowband IoT enterprise application Market
7.4.11.1. Market Size and Forecast, By Enterprise Size
7.4.11.2. Market Size and Forecast, By Application
7.4.11.3. Market Size and Forecast, By Industry Vertical
7.5. LAMEA
7.5.1. Key Market Trends and Opportunities
7.5.2. Market Size and Forecast, By Enterprise Size
7.5.3. Market Size and Forecast, By Application
7.5.4. Market Size and Forecast, By Industry Vertical
7.5.5. Market Size and Forecast, By Country
7.5.6. Latin America Narrowband IoT enterprise application Market
7.5.6.1. Market Size and Forecast, By Enterprise Size
7.5.6.2. Market Size and Forecast, By Application
7.5.6.3. Market Size and Forecast, By Industry Vertical
7.5.7. Middle East Narrowband IoT enterprise application Market
7.5.7.1. Market Size and Forecast, By Enterprise Size
7.5.7.2. Market Size and Forecast, By Application
7.5.7.3. Market Size and Forecast, By Industry Vertical
7.5.8. Africa Narrowband IoT enterprise application Market
7.5.8.1. Market Size and Forecast, By Enterprise Size
7.5.8.2. Market Size and Forecast, By Application
7.5.8.3. Market Size and Forecast, By Industry Vertical
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top Winning Strategies
8.3. Product Mapping Of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top Player Positioning, 2023
CHAPTER 9: COMPANY PROFILES
9.1. Huawei Technologies Co., Ltd.
9.1.1. Company Overview
9.1.2. Key Executives
9.1.3. Company Snapshot
9.1.4. Operating Business Segments
9.1.5. Product Portfolio
9.1.6. Business Performance
9.1.7. Key Strategic Moves and Developments
9.2. Ericsson AB
9.2.1. Company Overview
9.2.2. Key Executives
9.2.3. Company Snapshot
9.2.4. Operating Business Segments
9.2.5. Product Portfolio
9.2.6. Business Performance
9.2.7. Key Strategic Moves and Developments
9.3. Qualcomm Incorporated
9.3.1. Company Overview
9.3.2. Key Executives
9.3.3. Company Snapshot
9.3.4. Operating Business Segments
9.3.5. Product Portfolio
9.3.6. Business Performance
9.3.7. Key Strategic Moves and Developments
9.4. Nokia Corporation
9.4.1. Company Overview
9.4.2. Key Executives
9.4.3. Company Snapshot
9.4.4. Operating Business Segments
9.4.5. Product Portfolio
9.4.6. Business Performance
9.4.7. Key Strategic Moves and Developments
9.5. Intel Corporation
9.5.1. Company Overview
9.5.2. Key Executives
9.5.3. Company Snapshot
9.5.4. Operating Business Segments
9.5.5. Product Portfolio
9.5.6. Business Performance
9.5.7. Key Strategic Moves and Developments
9.6. Vodafone Group Plc
9.6.1. Company Overview
9.6.2. Key Executives
9.6.3. Company Snapshot
9.6.4. Operating Business Segments
9.6.5. Product Portfolio
9.6.6. Business Performance
9.6.7. Key Strategic Moves and Developments
9.7. China Mobile Limited
9.7.1. Company Overview
9.7.2. Key Executives
9.7.3. Company Snapshot
9.7.4. Operating Business Segments
9.7.5. Product Portfolio
9.7.6. Business Performance
9.7.7. Key Strategic Moves and Developments
9.8. Deutsche Telekom AG
9.8.1. Company Overview
9.8.2. Key Executives
9.8.3. Company Snapshot
9.8.4. Operating Business Segments
9.8.5. Product Portfolio
9.8.6. Business Performance
9.8.7. Key Strategic Moves and Developments
9.9. ATAndT Inc.
9.9.1. Company Overview
9.9.2. Key Executives
9.9.3. Company Snapshot
9.9.4. Operating Business Segments
9.9.5. Product Portfolio
9.9.6. Business Performance
9.9.7. Key Strategic Moves and Developments
9.10. Cisco Systems, Inc.
9.10.1. Company Overview
9.10.2. Key Executives
9.10.3. Company Snapshot
9.10.4. Operating Business Segments
9.10.5. Product Portfolio
9.10.6. Business Performance
9.10.7. Key Strategic Moves and Developments
9.11. ZTE Corporation
9.11.1. Company Overview
9.11.2. Key Executives
9.11.3. Company Snapshot
9.11.4. Operating Business Segments
9.11.5. Product Portfolio
9.11.6. Business Performance
9.11.7. Key Strategic Moves and Developments
9.12. Sony Corporation
9.12.1. Company Overview
9.12.2. Key Executives
9.12.3. Company Snapshot
9.12.4. Operating Business Segments
9.12.5. Product Portfolio
9.12.6. Business Performance
9.12.7. Key Strategic Moves and Developments
9.13. Sierra Wireless, Inc.
9.13.1. Company Overview
9.13.2. Key Executives
9.13.3. Company Snapshot
9.13.4. Operating Business Segments
9.13.5. Product Portfolio
9.13.6. Business Performance
9.13.7. Key Strategic Moves and Developments