According to a new report by UnivDatos, the Southeast Asia Narrow Band IoT Market is expected to reach USD Million in 2033 by growing at a CAGR of 44.50% during the forecast period (2025- 2033F). The market has been fuelled by the upsurge in smart city investments, the growing digitization of utilities and infrastructure, and the high demand for low-power, long-life connectivity. The adoption is further enhanced by government-supported digital transformation efforts, the increasing coverage of cellular LPWAN, and the decreasing cost of devices and modules. Moreover, the demand for reliable, secure licensed-spectrum connectivity is driving businesses to NB-IoT rather than unlicensed alternatives.

For example, on May 23, 2025, global AI Cloud platform service provider Tuya Smart, T3 Technology, and Skyworth successfully co-hosted the Global Telecom AIoT Summit 2025 in Bangkok, Thailand. Under the theme "New Era of Intelligence for All Industries", the summit aimed to deliver cutting-edge smart solutions across industries, accelerate Southeast Asia’s digital transformation, and create new market opportunities for global developers.

Driver: Growth of IoT Deployments

The expansion of IoT deployments has become a significant driver of the NB-IoT market, with businesses and governments increasingly dependent on internet-connected devices to enhance operational effectiveness and transparency. The increased use of sensors in utilities, transportation, manufacturing, and urban environments is driving long-term demand for low-power, wide-area connectivity. Also, NB-IoT meets the requirements for high-quality communication with a large number of devices at low operating costs. Moreover, the growth of digital transformation programs is driving device adoption in Southeast Asia. With the increasing size of the IoT ecosystems, NB-IoT can be used as a base connectivity layer enabling infrastructure to be modernized over the long term.

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For example, on November 27, 2025, Myriota, a global leader in space-enabled Internet of Things (IoT) connectivity, formally signed a Memorandum of Understanding (MoU) with Telkomsat, one of Indonesia’s satellite service providers, to bring its IoT connectivity and solutions platform to the region.

Segments that transform the industry

·       Based on deployment type, the market is segmented into in-band, guard-band, and standalone. Among these, the guard-band Narrow Band IoT market held the largest share in 2024. The use of guard-band deployment speeds up the adoption of NB-IoT by enabling telecom operators to repurpose unused LTE spectrum, which costs far less to roll out and takes less time. This reduces barriers to entry for operators and enables them to commercialize NB-IoT services more quickly, directly benefiting module vendors, platform providers, and solution integrators. Through this, companies can rapidly roll out deployments in both urban and semi-urban locations without investing heavily in capital.

Region that transforms the industry

·       Vietnam is expected to grow with a high expected CAGR during the forecast period (2025-2033). The development of NB-IoT in Vietnam is fueled by its high rate of urbanization, the growth of industrial areas, and government-initiated digital transformation programs. The increase in investment in intelligent transportation, automated manufacturing, and utility modernization is driving a strong demand for cost-effective IoT connections. Telecom operators are also expanding the NB-IoT coverage to accommodate large-scale deployment of low-cost devices. This market is biased toward solution providers and hardware vendors, with a focus on volume growth. Vietnam is also becoming one of the rapidly developing NB-IoT markets in Southeast Asia. For example, on October 24, 2025, Nokia announced the extension of its long-term partnership with Vietnam Posts and Telecommunications Group (VNPT), one of Vietnam's leading telecommunications operators, through a new agreement to upgrade and expand radio infrastructure across Vietnam. The new deal focuses on the Hanoi area, border provinces, and the southern region, marking an important step in advancing the nation’s digital connectivity.

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