Industry Overview

US NB-IoT market was valued at $1.2 billion in 2025 and is projected to reach $11.9 billion by 2035, growing at a CAGR of 25.6% from 2026 to 2035. The US market is expanding steadily, supported by increasing adoption of connected technologies across industrial and commercial applications. Organizations are placing greater emphasis on efficient asset monitoring and data-driven operations, which is encouraging the use of low-power communication solutions. Advancements in network infrastructure and broader coverage availability are also contributing to improved accessibility for enterprise deployments. In addition, the need for reliable connectivity in sectors such as logistics, utilities, and manufacturing is supporting consistent demand. Ongoing integration of connected devices into existing operational frameworks is further strengthening market activity. These factors collectively contribute to a stable and progressive growth pattern in the market.

Market Dynamics

Expansion of Enterprise Connectivity Use Cases

The US market is witnessing a gradual expansion in enterprise-led deployments, driven by the need for improved visibility and control over distributed assets. Businesses are increasingly adopting connected solutions to streamline operations and enhance data accuracy across logistics, utilities, and industrial environments. This shift is supported by the availability of reliable network infrastructure and device compatibility across applications. Companies are focusing on integrating these technologies into existing systems without significant operational disruption. Recent developments indicate a growing emphasis on scalable solutions that can support long-term deployment strategies. This trend reflects a steady transition toward more structured and outcome-driven adoption.

Integration with Multi-Network Connectivity Models

Another emerging trend in the US market is the integration of connectivity solutions with multiple network layers to ensure consistent performance. Organizations are exploring approaches that combine different communication technologies to extend coverage and improve reliability in diverse environments. This is particularly relevant for applications operating in remote or infrastructure-limited areas. Market participants are introducing solutions that enable seamless connectivity across network types, enhancing operational continuity. There is also a growing focus on flexibility in deployment models to accommodate varying enterprise requirements. This trend is contributing to a more adaptable and resilient connectivity landscape.

Market Segmentation

• Based on the deployment type, the market is segmented into guard band, in-band, and standalone.
• Based on the end-users, the market is segmented into logistics & transportation, energy & utilities, agriculture, industrial manufacturing, healthcare, and others.

In-Band Deployment Segment to Lead the Market with the Largest Share

In-band deployment is increasingly being adopted due to its ability to utilize existing cellular spectrum, allowing operators to scale connectivity without significant infrastructure changes. This approach supports efficient network integration, particularly in urban and industrial environments where spectrum availability is optimized. Companies such as Qualcomm Incorporated, Nokia Corporation, and Telefonaktiebolaget LM Ericsson are contributing through chipset development and network solutions that enhance performance and compatibility. Recent trends indicate improvements in signal stability and network efficiency within existing LTE frameworks. The approach is also supporting cost-conscious deployments across enterprise applications. As a result, it continues to gain steady acceptance among network operators and solution providers.

Energy & Utilities: A Key Segment in Market Growth

The energy & utilities segment is showing sustained growth as organizations adopt connected technologies for monitoring and managing distributed infrastructure. Applications such as smart metering and grid management are benefiting from reliable, low-power communication capabilities. Key participants, including Vodafone Group Plc, Deutsche Telekom AG, and Huawei Technologies Co., Ltd., are supporting deployment through connectivity services and infrastructure solutions. Recent trends highlight increased focus on remote monitoring and predictive maintenance to improve operational efficiency. The need for accurate data collection and system reliability is encouraging wider adoption. This segment remains a significant contributor to ongoing market expansion due to its essential service requirements.

Market Players Outlook

The major companies operating in the US NB-IoT market include Qualcomm Inc., Verizon Communications Inc., T-Mobile US, Inc., Nokia Corp., and Telefonaktiebolaget LM Ericsson, among others. Market players are leveraging partnerships, collaborations, mergers, and acquisition strategies for business expansion and innovative product development to maintain their market positioning.

Recent Developments

• In March 2026, Qualcomm introduced its X105 5G Modem-RF platform, which includes integrated NB-IoT support alongside advanced cellular and satellite connectivity capabilities. This product enhances connectivity in challenging environments such as indoor or low-signal locations by enabling low-power NB-IoT communication as a fallback layer. The development reflects Qualcomm’s continued expansion of its chipset portfolio to support hybrid connectivity use cases across devices. The inclusion of NB-IoT within next-generation modem architecture highlights the ongoing integration of low-power IoT capabilities into broader semiconductor offerings.

• In July 2025, AT&T formally discontinued its NB-IoT service offerings, including stopping new data plan sales and device certifications, and initiated the shutdown of its NB-IoT network. The company transitioned its IoT product strategy toward LTE-M and newer connectivity standards, repositioning its portfolio to align with evolving enterprise requirements. This move represents a strategic shift in the US market, where operators are consolidating IoT offerings around technologies with broader commercial traction. The decision directly impacts NB-IoT product availability and reflects changing operator-level priorities in the region.

The Report Covers

• Market value data analysis for 2025 and forecast to 2035.
• Annualized market revenues ($ million) for each market segment.
• US-wise analysis of major geographical regions.
• Key companies operating in the US NB-IoT market. Based on the availability of data, information related to new products and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.