NB-IoT Device Shipments to Rise to 613 Million Units in 2023

According to a report published by ResearchAndMarkets the Global shipments of NB-IoT devices will increase from 106.9 million units in 2018 to 613 million units in 2023, growing at a compound annual growth rate (CAGR) of 41.8 percent.

The Internet of Things is weaving a new worldwide web of interconnected objects. As of Q1-2018, about a billion devices were connected to wide area networks based on cellular or LPWA technologies. The market is highly diverse and divided into multiple ecosystems. The researcher forecasts that annual shipments of cellular and non-cellular LPWA IoT devices will grow at a compound annual growth rate (CAGR) of 24.5 percent from 352.6 million units in 2017 to 1312.9 million units in 2023.

Cellular and LPWA IoT Device Ecosystems give a comprehensive overview of the main wide area networking technologies for the Internet of Things - 2G/3G/4G/5G cellular, LoRa, Sigfox and 802.15.4 WAN.

Highlights from the report include:

  • 360-degree overview of the main IoT wide area networking ecosystems.
  • Comparison of technologies and standards.
  • Updated profiles of the main suppliers of IoT chipsets and modules.
  • Cellular IoT module market data for 2017.
  • Early adoption trends for emerging LPWA technologies.
  • Cellular and non-cellular LPWA IoT device market forecast until 2023.

Click here to read the report.