US Private Narrowband IoT Market Size & Forecast (2025-2035)
The US Private Narrowband IoT (NB-IoT) market focuses on low-power, wide-area network (LPWAN) technologies providing secure and reliable connectivity for industrial, commercial, and municipal applications. NB-IoT excels in connecting large-volume, low-data devices such as sensors and meters, transforming smart infrastructure and asset management. This sector is witnessing robust expansion, driven by heavy investments in utilities, advancements in smart city initiatives, and stricter mandates for real-time monitoring and compliance. US enterprises leverage NB-IoT for improved operational efficiency and reduced costs, with telecom giants and solution providers deploying tailored NB-IoT solutions across diverse verticals.
Latest Market Dynamics
Key Drivers
Rising adoption of smart metering and infrastructure projects, with companies like AT&T deploying NB-IoT for utility and water management.
Expanding demand for asset tracking across logistics and supply chain, as
introduces integrated NB-IoT solutions for fleet management.
Key Trends
Integration of NB-IoT with cloud platforms, exemplified by T-Mobile partnering with AWS for scalable IoT applications.
Growth of private NB-IoT networks targeting industry-specific requirements in advanced manufacturing, showcased by Nokia launching private wireless solutions for factories.
Key Opportunities
Smart city development leveraging NB-IoT for applications like street lighting, highlighted by collaborations such as Sierra Wireless supporting city-wide IoT rollouts.
Wearables and healthcare IoT expansion, driven by Qualcomm’s initiatives in medical device connectivity and monitoring.
Key Challenges
Interoperability concerns due to fragmented IoT ecosystems, as noted by industry feedback on legacy network integration.
Complex regulatory and spectrum management requirements, underscored by recent FCC updates impacting deployment timelines.
Key Restraints
Security vulnerabilities intrinsic to expanding IoT networks, with AT&T and other operators ramping up security frameworks.
High initial investment for private NB-IoT infrastructure deterring smaller organizations, despite support from system integrators.
US Private Narrowband IoT Market Share (%), By Type, 2025
Standalone NB-IoT networks hold the largest share in 2025, favored for their dedicated spectrum allocation and robust security. In-band deployments also perform strongly due to seamless integration within existing LTE carriers, enabling cost-effective expansion for enterprises. Guard band solutions comprise a stable portion, preferred by organizations needing to balance cost and performance. The overall market share reflects the growing maturity and strategic selection of NB-IoT network types, supporting the unique demands of smart metering, industrial IoT, and critical communications across the US.
US Private Narrowband IoT Market Share (%), By Applications, 2025
Smart metering applications dominate the NB-IoT landscape in 2025, accounting for the highest market share, propelled by regulatory mandates and digitization of utilities. Asset tracking is the second largest application, riding on increased demand in logistics, supply chain, and fleet industries. Alarms and event detectors remain crucial, especially for real-time monitoring in industrial and municipal settings. This segmentation reflects NB-IoT’s vital role in digital transformation across critical infrastructure and enterprise domains.
US Private Narrowband IoT Market Revenue (USD Million), 2020-2035
The US Private Narrowband IoT market showcases consistent revenue growth over the forecast period. Starting from USD 270 million in 2020, revenue reaches USD 580 million by 2025, reflecting accelerating NB-IoT adoption. By 2030, investments in smart utilities, logistics, and healthcare push revenue beyond USD 1,500 million. The market is projected to hit USD 2,200 million in 2035, underpinned by IoT expansion and increasing digital transformation across industries.
US Private Narrowband IoT Market YOY (%), 2020-2035
Year-on-Year growth in the US Private NB-IoT market remains robust, averaging 16% between 2020 and 2025 as the technology gains widespread enterprise adoption. YOY growth is projected to slightly moderate to around 12% between 2025 and 2030 as the market matures and penetration deepens, and then to 8% from 2030 to 2035 reflecting stabilization of key verticals. The overall trend demonstrates strong, sustainable expansion as NB-IoT use cases diversify and regulatory clarity accelerates deployments.
US Private Narrowband IoT Market by Regions Share (%), 2025
The Midwest and Northeast regions collectively lead NB-IoT adoption in 2025, driven by concentrated smart grid and industrial automation projects. The Southern region experiences rapid growth, attributed to expanding utility and municipal IoT infrastructure. The Western US features robust investments in smart city initiatives and advanced manufacturing, rounding out market share. Regional NB-IoT growth is propelled by distinctive regional priorities such as resilience, automation, and sustainability.
US Private Narrowband IoT Market Players Share (%), 2025
Verizon leads the US NB-IoT landscape in 2025, closely followed by AT&T and T-Mobile, each supported by expanding network coverage and tailored industry solutions. Nokia and Ericsson also play significant roles, especially in supporting private industrial deployments through robust wireless solutions. This distribution illustrates the competitive dynamics among telecom operators and technology vendors shaping the US NB-IoT ecosystem through partnerships, innovation, and aggressive network expansion.
US Private Narrowband IoT Market Buyers Share (%), 2025
Utility companies constitute the largest buying segment in 2025, reflecting their proactive implementation of NB-IoT for smart metering and grid management. Logistics and asset management organizations are the next largest buyers, leveraging NB-IoT for real-time tracking and optimization. Municipalities and healthcare entities comprise an emerging buyer segment, adopting NB-IoT for infrastructure, safety, and wellness solutions. This buyer landscape highlights NB-IoT’s evolving value proposition across diverse sectors.
June 2024: Verizon launches nationwide NB-IoT connectivity suite for asset tracking and smart metering deployments.
July 2024: Sierra Wireless partners with a leading Midwest utility to accelerate smart grid NB-IoT projects.
August 2024: T-Mobile and AWS announce new NB-IoT cloud integration platform for scalable IoT rollouts.
September 2024: Nokia unveils a private wireless NB-IoT solution for industrial supply chain automation.
September 2024: AT&T strengthens IoT security for NB-IoT networks with enhanced encryption protocols.
Frequently Asked Questions
About the Author
Ankit
Senior Research Consultant
Ankit is a Senior Research Consultant specializing in market research, industry analysis, and business consulting across Telecommunication. Ankit brings a commercially grounded perspective to sectors shaped by changing demand, innovation, and competitive dynamics, helping turn complex market trends into clear strategic insights for business decision-makers. With 10+ years of experience across research, analytics, and strategic advisory roles, Ankit has helped organizations translate data into actionable growth strategies.
