The North American NB-IoT market is projected to grow at a significant CAGR of around f35.3% during the forecast period (2021-2027). The market is mainly driven by the growing integration of smart connected devices in the region. The presence of telecommunication giants such as Verizon, AT&T, and T-Mobile, particularly in the US, has contributed significantly to the increased adoption of NB-IoT in the US. For instance, in July 2019, AT&T and Badger Technologies established a partnership for accelerating automation within retail environments by using autonomous robots with 5G wireless networking capabilities. The 5G wireless networking technology further expanded the adoption of NB-IoT in the communication sector that further contribute to the growth of the market.
Browse the full report description of "North American Narrow Band (NB)-IoT Market Size, Share & Trends Analysis Report by Deployment Type (Guard Band, In-Band, and Standalone), By Industry (Logistics & Transportation, Energy & Utilities, Agriculture, Industrial Manufacturing, Healthcare, and Others) and Forecast 2021-2027" at https://www.omrglobal.com/industry-reports/north-american-narrow-band-iot-market
Though several factors such as cloud adoption, high network technologies and so forth have been driving the IoT market, some restraints such as lack of government funding are still hindering the market growth. For instance, Federal agencies lack the necessary funding to adopt and deploy IoT solutions. The federal budget for IT investments was approximately $87 billion in 2015. This amount was proposed $89.9 billion for 2017. The growth rate of federal IT budgets has seen dramatically decrease over the last few years. The annual rate of growth in IT spending was 7.1% from 2001 to 2009; however, it shrunk to remain at 1.8% annually since 2009.
Market Coverage
|
Report Elements |
Details |
|
Study Period |
2020-2027 |
|
Base year |
2020 |
|
Forecast period |
2021-2027 |
|
Segments Covered |
By Deployment Type and by Industry |
|
Regions Covered |
US and Canada |
|
Key Companies Profiled |
AT&T, Inc., Huawei Technologies Co., Ltd.,
Qualcomm Technologies, Inc., MediaTek Inc., Verizon Communications Inc.Telefonaktiebolaget LM
Ericsson, Vodafone Group Plc |
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID forecast
o Most affected segment
o Recommendations
North American NB-IoT Market – Segmentation
By Deployment Type
By Industry
North American NB-IoT Market – Segmentation by Region
To learn more about this report request a free sample copy @ https://www.omrglobal.com/request-sample/north-american-narrow-band-iot-market