Pune, Nov. 19, 2020 (GLOBE NEWSWIRE) — The global narrowband IoT tracker market will derive growth from the efforts put in for technological integration by large scale companies across the world. The rising product demand will create several growth opportunities for companies operating in the market. According to a report by Fortune Business Insights, titled “Narrow Band IoT Tracker Market Size, Share & Industry Analysis, By Component (Hardware, Software & Services), By Deployment (Guard-band, In-band, Stand Alone), By Type (Asset tracking, Animal tracking, Logistic tracking, People tracking), By Industry (Agriculture, Automotive and Transportation, Manufacturing, Others) and Regional Forecast, 2019-2026,” the market will rise at a considerable pace driven by the increasing smartphone penetration across the world.
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The recent coronavirus outbreak has brought major businesses to a standstill. Due to travel bans, companies in this sector are likely to take a huge hit in the coming years. Ultimately, the rapid spread of the disease has urged governments to take strict measures. The report includes the impact of the Covid-19 pandemic on the global market and discusses how major companies are coping with this.
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Narrow-band IoT tracker is a concept that falls under the low power wide area (LPWA) network standard. It is used to connect small objects that are used in day-to-day life. The narrow band IoT connects a wide range of smart devices and sensors across the world. The benefits offered by NB IoT including safety, cost-effectivity, and low power consumption will lead to a wider product adoption across the world. Moreover, the ability of the product to eliminate the cost for constant maintenance over conventional tracking systems will fuel the demand across the world. The presence of …
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