The US NB-IoT market demonstrates an upward revenue trajectory from 2020 through 2035. With ongoing digitalization and adoption of IoT solutions, annual market revenue is projected to increase from $250 Million in 2020 to $3,800 Million by 2035. The most significant growth acceleration is observed post-2025 as carriers expand networks, module prices fall, and industrial use cases scale. The long-term outlook is supported by modernization in public infrastructure, manufacturing, and smart utilities, ensuring sustainable demand for NB-IoT connectivity.
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Smart metering dominates the US NB-IoT landscape in 2025, propelled by regulatory mandates for efficient resource management and large-scale utility deployments. Asset tracking emerges as the second largest segment, benefiting from NB-IoT's low power consumption and ubiquitous connectivity in supply chain management. Smart parking captures significant share, reflecting cities’ focus on traffic optimization and urban mobility solutions. Wearables and alarm/event detectors are growing segments, with IoT healthcare and public safety deployments rounding out market opportunities.
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Who are the key players in US Narrow Band IoT industry?
Key players in the US Narrow Band IoT industry include AT&T, Verizon, T-Mobile, Qualcomm, and Ericsson. These companies drive innovation and deployment of NB-IoT technologies through robust network infrastructure, R&D investment, and strategic partnerships, enabling widespread IoT integration for industrial, smart city, and consumer applications.
What is the US Narrow Band IoT growth?
The US Narrow Band IoT market has experienced significant growth, largely due to increasing smart city deployments and industrial IoT adoption. In 2023, T-Mobile accelerated NB-IoT network expansion, enhancing coverage and boosting market growth, supported by rising IoT device adoption in utilities and healthcare.
Which segment accounted for the largest US Narrow Band IoT share?
Smart metering applications held the largest share in the US Narrow Band IoT market. Utilities leverage NB-IoT for efficient and secure remote monitoring of water, gas, and electricity consumption, driving cost savings and operational efficiency for providers like American Water and Duke Energy.
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