According to Cognitive Market Research, the global Narrowband Iot (Nb Iot) market size is USD 2269.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 40.30% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 907.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 38.5% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 680.85 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 521.99 million in 2024 and will grow at a compound annual growth rate (CAGR) of 42.3% from 2024 to 2031.
Latin America had a market share for more than 5% of the global revenue with a market size of USD 113.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 39.7% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 45.39 million in 2024 and will grow at a compound annual growth rate (CAGR) of 40.0% from 2024 to 2031.
The Stand-Alone held the highest Narrowband Iot (Nb Iot) market revenue share in 2024.
