Licensed Spectrum Driving North America NB-IoT Market at 25.6% CAGR

North America narrow band IoT market was valued at $2,557.0 million in 2025 and is projected to reach $25,137.9 million by 2035, growing at a CAGR of 25.6% during the forecast period (2026–2035). The North American Narrowband IoT (NB-IoT) market is driven by increasing enterprise adoption for applications requiring reliable connectivity, secure data transmission, and operational efficiency. Key growth factors include secure LTE-grade connectivity, reliable urban and industrial performance, deep indoor coverage, and lower operational costs through carrier-managed networks. Whereas licensed networks are the primary driver by providing exclusive spectrum, predictable QoS, and enterprise-grade security while enabling scalable and risk-managed IoT deployments.

Browse the full report description of “North America Narrow Band (NB)-IoT Market Size, Share & Trends Analysis Report by Deployment Type (Guard Band, In-Band, and Standalone), By Industry (Logistics & Transportation, Energy & Utilities, Agriculture, Industrial Manufacturing, Healthcare, and Others), Forecast Period (2026-2035)” at https://www.omrglobal.com/industry-reports/north-american-narrow-band-iot-market

Licensed Spectrum Fuels NB-IoT Growth

A major growth driver for the North American Narrowband IoT (NB-IoT) market is the shift from unlicensed spectrum (such as the 900?MHz LoRaWAN band) to licensed cellular spectrum. Enterprises are increasingly preferring NB-IoT for its predictable performance, robust security, and operational reliability, all of which are critical to corporate risk management in North America.

Unlike unlicensed bands, which are congested with a variety of devices—from industrial LoRaWAN networks to consumer electronics—NB-IoT operates on dedicated, carrier-owned licensed spectrum. This exclusivity ensures uninterrupted data transmission, eliminates duty cycle restrictions, and provides consistent Quality of Service (QoS) for applications requiring frequent or high-volume data bursts, such as smart grid monitoring.

NB-IoT leverages SIM-based authentication and 3GPP-standardized LTE-grade encryption, providing tamper-proof identity verification and end-to-end data protection. These features address the “Shadow IoT” risk posed by unlicensed networks.

Licensed NB-IoT also delivers reliable connectivity in dense urban and industrial areas, overcoming the interference and congestion issues of unlicensed networks. Its narrowband FDMA technology and carrier-supported signal boosts enable deep indoor and underground coverage, making it essential for utilities, gas metering, and smart building applications.

So by combining secure, reliable, and high-performance connectivity, licensed NB-IoT is driving strong enterprise adoption and fueling market demand across North America.

Key Business Development in the Narrow Band IoT market

• In March 2025, Verizon expanded its Global IoT Orchestration service with Singtel and Skylo by enabling IoT connectivity in up to 200 territories globally through its ThingSpace platform, supporting broader enterprise IoT deployments.

• In March 2025, Qualcomm announced the launch of three new modems purpose-built for IoT connectivity, including enhanced support for NB?IoT and Cat 1bis networks, with integrated iSIM and cloud services to enable ubiquitous coverage and streamlined device deployment for enterprise applications. These modems enable secure, low-power NB-IoT connectivity for large-scale IoT deployments in utilities, logistics, and industrial applications.

Market Coverage

• The market number available for – 2025-2035
• Base year- 2025
• Forecast period- 2026-2035
• Segment Covered-
• Deployment Type
• Industry

• Competitive Landscape – Qualcomm Technologies, Inc., Quectel Wireless Solutions Co., Ltd., Sierra Wireless, Inc., Telit Communications PLC, ublox Holding AG

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

North America Narrow Band (NB)-IoT Market Report Segment

By Deployment Type

• Guard Band
• In-Band
• Standalone

By Industry

• Logistics and Transportation
• Energy & Utilities
• Agriculture
• Industrial Manufacturing
• Healthcare
• Other (Retail)

North America Narrow Band (NB)-IoT Market Report Segment by Region

• United States
• Canada

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