The Asia-Pacific NB-IoT chipset market revenue demonstrates robust long-term growth. In 2020, market revenue was $725 Million, which rose to $1,350 Million in 2023, and is projected to surpass $1,750 Million in 2025. By 2035, the market is expected to reach $8,900 Million, reflecting sustained government investments and rapid adoption in industrial, utility, and smart city verticals. This progressive growth underscores NB-IoT’s increasing role as a backbone technology for regional digitalization.
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Smart Metering remains the dominant application for NB-IoT chipsets in the Asia-Pacific region, driven by national mandates for utility digitization, especially in China and India. Asset Tracking is the second leading segment, reflecting the growing need for real-time visibility across supply chains. Smart Lighting, benefiting from governmental smart city projects, ranks third. Breakdown for 2025 stands as: Smart Metering 46%, Asset Tracking 29%, Smart Lighting 15%. Other applications, including alarms, detectors, and smart parking, collectively make up the remainder.
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Who are the key players in Asia-Pacific Narrowband IoT (NB-IoT) Chipset Market industry?
Key players include Huawei Technologies, Qualcomm Technologies, MediaTek Inc., Samsung Electronics, and Nordic Semiconductor. These companies drive innovation in NB-IoT chipsets through robust research, strong partnerships with telecom operators, and the production of highly integrated chip solutions widely adopted across various IoT applications in the Asia-Pacific region.
What is the Asia-Pacific Narrowband IoT (NB-IoT) Chipset Market growth?
The Asia-Pacific NB-IoT chipset market has experienced strong double-digit growth in recent years, driven by increasing IoT deployments and smart city projects. For instance, Huawei's collaboration with telecom operators in China and India in 2023 resulted in surging chipset adoption, supporting rapid expansion of NB-IoT networks in the region.
Which segment accounted for the largest Asia-Pacific Narrowband IoT (NB-IoT) Chipset Market share?
The smart metering application segment held the largest share of the Asia-Pacific NB-IoT chipset market. This dominance is attributed to massive deployments of smart water, gas, and electricity meters in China and Southeast Asia, leveraging NB-IoT for reliable, cost-effective, and wide-area connectivity essential for efficient utility management.
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