IoT Gateways Market Projected to Hit USD 3400.4 Million at a CAGR of 13.53% CAGR by 2030 – Report by Market Research Future (MRFR)
Research Reports
Aug 21, 2023
Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), IoT Gateways Market Information By Component, By Connectivity , By End-User, and Region – Forecast till 2030”, IoT Gateways Market could thrive at a rate of 13.53% between 2023 and 2030. The market size will be reaching around USD 3400.4 million by the end of the year 2030
Market Synopsis
The IoT (Internet of Things) has revolutionized the way devices communicate and interact with each other. At the heart of this connectivity lies IoT gateways, which serve as the bridge between devices and the cloud. These gateways enable seamless data transfer, protocol translation, and security, making them a vital component in the IoT ecosystem.
IoT gateways find applications across various industries, including manufacturing, healthcare, transportation, and smart homes. They facilitate efficient data collection, analysis, and management, empowering businesses to make informed decisions and optimize their operations. By acting as intermediaries, IoT gateways enable real-time monitoring, remote control, and predictive maintenance, leading to enhanced productivity and cost savings.
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Market Competitive Landscape:
The affluent companies in the IoT Gateways industry include
- Texas Instruments Incorporated
- NXP Semiconductors
- TE Connectivity Ltd,
- Hewlett Packard Enterprise Co.
- Microchip Technology Inc.
- Dell Technologies
- Aaeon Technology Inc.
- Nexcom International Co., Ltd.
- Helium Systems, Inc.
- STMicroelectronics N.V.
- Adlink Technology Inc.
- Eurotech S.P.A. ZeroStack, Inc
- Cisco Systems, Inc.
- Advantech Co., Ltd.
- Huawei Technologies Co., Ltd.
May 2023
NXP Semiconductors launched a new line of ultra-low-power IoT gateways. These gateways feature advanced energy-efficient processors and support a wide range of wireless protocols. This development emphasizes the growing demand for energy-efficient and versatile gateways to meet the evolving needs of IoT applications.
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Market USP Covered:
Market Drivers:
The IoT gateways market is primarily driven by three factors. Firstly, the increasing adoption of IoT across industries fuels the demand for gateways to connect and manage the expanding network of devices. Secondly, the rising need for real-time data analytics and decision-making drives the demand for gateways with edge computing capabilities. Lastly, the growing concerns regarding data security and privacy fuel the demand for gateways with robust security features.
Market Restraints:
The IoT gateways market faces some restraints. One of the major challenges is interoperability issues among devices and protocols, requiring gateways to support multiple standards. Additionally, the complexity of managing and maintaining large-scale IoT deployments poses a significant hurdle for organizations, increasing the need for comprehensive gateway management solutions.
COVID 19 Analysis
The COVID-19 pandemic had a profound impact on the IoT gateways market. During the pandemic, there was an increased focus on remote monitoring and control, driving the demand for IoT gateways to enable remote access and management of devices. However, supply chain disruptions and economic uncertainties hampered the market growth temporarily. Post COVID-19, as industries recover and digitization efforts intensify, the demand for IoT gateways is expected to rebound strongly.
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Market Segmentation
By IVHM Technology – The Component in the market Processor, Sensor, Memory and Storage Device and other Components
By Connectivity – By Connectivity, the segment includes Aero-Propulsion, Aircraft Structure, Avionics & Othe Bluetooth, WI-Fi, ZigBee, Ethernet, Cellular and Others
By End-User – By End-User, the segment includes Automotive and Transportation, Healthcare, Industrial, Consumer Electronics, BFSI, Oil and Gas, Retail, Aerospace and Defense and Other End-Users
Regional Insights
North America holds the largest share in the market due to several factors. Firstly, the region has a strong presence of key technology players, including Texas Instruments Incorporated and Hewlett Packard Enterprise Co., which contribute to the development and innovation of IoT gateways. Secondly, North America has been at the forefront of early IoT adoption across various industries, such as manufacturing, healthcare, and transportation. The region’s advanced infrastructure and widespread connectivity enable seamless integration of IoT devices and gateways. Additionally, the presence of a mature cloud computing ecosystem and advanced analytics capabilities further drives the demand for IoT gateways in the region.
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Europe is witnessing significant growth in the IoT gateways market. The region is characterized by government initiatives and policies that promote the adoption of IoT technologies. These initiatives focus on fostering innovation, creating smart cities, and enhancing industrial automation. Europe also benefits from the presence of advanced manufacturing facilities and smart city projects, which drive the demand for IoT gateways. The region’s emphasis on sustainability and energy efficiency further fuels the adoption of IoT gateways for optimizing resource consumption and reducing environmental impact.
Asia Pacific is anticipated to exhibit substantial growth in the IoT gateways market. The region is experiencing rapid industrialization and urbanization, leading to a significant increase in the number of connected devices and IoT deployments. Countries like China, India, and Japan are investing heavily in IoT infrastructure and smart city initiatives, which require robust connectivity and gateway solutions. The burgeoning manufacturing sector in Asia Pacific also contributes to the demand for IoT gateways for monitoring and optimizing production processes. Additionally, the increasing adoption of IoT in sectors like healthcare, agriculture, and logistics further drives the market growth in the region.
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