Narrowband IoT (Internet of Things) is a radio technology standard which is a low power wide area network technology enabling both devices and services which varies across a wide range to be connected by the usage of cellular telecommunication bands. This new technology will help in better indoor coverage, low delay sensitivity and low power consumption of devices with optimized network architecture. Narrowband IoT chipsets also supports large number of low throughput devices helping in utilization of resource blocks with LTE carriers. Narrowband IoT technology further helps in connection of devices more efficiently on established mobile networks and also has the power of handling small amount of infrequent data from both sides. Globally narrowband IoT chipset market can be segmented on the basis of stationing, technology, devices and application areas. On the basis of technology, the global narrowband IoT market is segmented into software and hardware. Other than this, based on stationing global narrowband IoT market is divided into guard band, in band and standalone. Classification for global narrowband IoT chipset is also done on the basis of devices which includes trackers, wearable devices, smart appliances, alarms and detectors among others. Automation, manufacturing, automotive and transportation, healthcare, agriculture, infrastructure, safety and security and waste management are the major application areas based on which narrowband IoT chipset marker is segmented globally.