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Sep 11, 2020 (The Expresswire) —
Narrow Band IoT Tracker Market (NB-IoT) also called as LTE Cat NB1, is an LPWA (Low Power Wide Area) network technology standard. By using a wireless cellular network, NB-IoT links a wide range of smart devices and sensors. NB-IoT provides reliable and secure connectivity to end-users. The Narrow Band IoT Tracker Market Tracking offers advantages such as cost-effective, safe, low power consumption, and elimination of constant maintenance over traditional tracking systems. The most significant applications of the NB-IoT tracker includes vehicle tracking, supply chain asset tracking, heavy equipment tracking, healthcare equipment tracking, agricultural equipment tracking, etc. The growing demand for tracking and monitoring assets and production processes is primarily driving the market.
The demand for wearable trackers has increased rapidly. Wearables can be useful in workout activities as well as in health monitoring devices to monitor the status of health. Wearable trackers are also helpful in tracking children and older adults intended for safety purposes. This increasing demand for wearable trackers drives the Narrow Band IoT Tracker Market.
Key Market Driver
- Growing demand for cost-optimized energy solutions to drive NB-IoT tracker market
- Cloud-based cellular wireless tracking system directing the NB-IoT market to grow
- Increasing substantial investments in the Narrow Band IoT Tracker Market are contributing in the growth of the market
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Key Market Restraint-
- Lack of skilled experts for initial system installment, deployment and maintenance of Narrow Band IoT Tracker Market trackers
Key Players Covered:
Accent Advanced Systems, SLU provides innovative IoT solutions. The company offer products based on tracking and geolocation. The company mainly drives the wireless device market and developing solutions from product development to mass production. The company has proficiency in IoT technologies such as WiFi, LTE, 4G, Bluetooth, SigFOX, LoraWA. The company is leading the industry providing Narrow Band IoT Tracker Market and LTE-M solutions.
These companies provide IoT solutions that design industrial hardware including sensors and software applications, which can track real-time information on mobile assets. The company develops middleware, mobile applications, and cloud-based solutions. It is easy to integrate company developed systems with existing software.
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Top key players in the Narrow Band IoT Tracker Market are
- Huawei Technologies Co., Ltd
- Qualcomm Technologies Inc.
- Vodafone Group plc
- Sierra Wireless
- Nokia Corporation
- Deutsche Telekom AG
- Quectel Wireless Solutions Co. Ltd.
- China United Network Communications Group Co., Ltd.
Communication with small data, small power requirements, and the capability to track in hard-to-reach places made opportunities for the market to grow in public safety areas. Also, the secure deployment of sensors offers additional flexibility to the system, which further contributes to market growth.
Growing demand for smartphones and wearables due to urbanization in the Asia Pacific region is growing. The growth in the number of smart city initiatives and increasing internet penetration is also driving the market in the Asia Pacific region. The increasing levels of income, technological developments, and the adoption of developing technologies for business and personal applications are some of the significant factors driving the growth of the North American regional market. Also, most of the emerging IoT platform manufacturers are based in the North America region especially in the U.S. which are boosting the revenue of the market. Europe is one of the prime contributors to the Narrow Band IoT Tracker Market. Implementation of developed technologies across industries and The increasing government funding in the region is influencing the market growth.
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Global Narrow Band IoT Tracker Market Segmentation
- Software and Services
- Stand Alone
- Asset tracking
- Animal tracking
- Logistic tracking
- People tracking
- Automotive and Transportation
By Geography Narrow Band IoT Tracker Market
- North America (the U.S. and Canada)
- Europe (the U.K., Germany, France, Scandinavia, and Rest of Europe)
- Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)
- Middle East and Africa (South Africa, GCC, and Rest of the Middle East and Africa)
- Latin America (Brazil, Mexico, and Rest of Latin America)
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Key Industry Developments
- July 2019:T-Mobile USA, Inc., collaborated with Roambee Corporation to provide an Narrow Band IoT Tracker Market asset tracking solution. Tracker easily connected to pallets, shipments, or an individual assets to deliver item-level temperature monitoring and location
- April 2019:BeWhere Inc. partenered with Fleet Hoster for integrating its LTE-M connected M-IoT devices into Fleet Hoster’s platform to connect with multiple end-users.
Key Research Objectives
- Narrow Band IoT Tracker Market size and growth rate by various segments at global and regional level for the 2015-2026 period, with 2015-2017 as historical data, 2018 as base year and 2019-2026 as forecast period
- Overall market size and growth rate for key countries for the 2015-2026 period
- Market dynamics – Market drivers, restraints, trends and opportunities
- Technological and market developments shaping the market
- Competitive analysis
- Profiles of key companies operating in the Narrow Band IoT Tracker Market
- Key insights
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