IoT Node and Gateway Market to Grow with a CAGR of 15.19% through 2028
Increasing adoption of IoT devices and growing demand
for real-time data are likely to drive the market in the forecast period.
According to TechSci Research report, “IoT Node asnd
Gateway Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the Global IoT Node and Gateway Market stood at
USD 672.11 Million in 2022 and is anticipated to grow with a CAGR of 15.19% in
the forecast period. One of the primary drivers of
the Global IoT Node and Gateway market is the increasing adoption of IoT
applications across various industries. Organizations in sectors such as
manufacturing, agriculture, healthcare, logistics, energy, and smart cities are
recognizing the transformative potential of IoT technologies to enhance
operational efficiency, monitor assets, reduce costs, and improve
decision-making. As industries embrace IoT applications, the demand for IoT
nodes and gateways grows significantly. Nodes serve as data collection points,
gathering information from sensors and devices, while gateways facilitate the
transmission of this data to centralized systems or the cloud. This adoption is
driven by the need for real-time data insights, predictive maintenance, and
automation in diverse sectors. The IoT Node and Gateway market benefits from
this trend as it caters to the infrastructure needs of organizations seeking to
deploy and expand their IoT ecosystems. Whether it's in manufacturing
environments with industrial IoT (IIoT) or in agriculture with precision
farming, the deployment of nodes and gateways is central to enabling IoT
applications across industries.
The continuous evolution and improvement
of wireless communication technologies represent another significant driver for
the Global IoT Node and Gateway market. IoT nodes and gateways heavily rely on
wireless connectivity to enable data transmission, and advancements in this
domain have a profound impact on IoT deployments: 5G Connectivity: The
deployment of 5G networks offers faster data speeds, lower latency, and
increased device density compared to previous generations of wireless
technology. This makes 5G networks particularly well-suited for IoT
applications that demand high bandwidth, real-time communication, and
connectivity in densely populated areas. IoT nodes and gateways designed to
work with 5G networks are in high demand as organizations seek to leverage this
technology's capabilities.
Low-Power Wide-Area Networks (LPWANs):
LPWAN technologies like LoRaWAN and Sigfox provide long-range connectivity with
minimal power consumption, making them ideal for IoT deployments where devices
need to operate on batteries for extended periods. These technologies have
spurred the development of LPWAN-compatible IoT nodes and gateways, further
expanding the market's offerings. Edge Computing Integration: The integration
of edge computing capabilities in gateways enhances the processing power at the
edge of the network. This is particularly valuable in IoT applications that
require real-time analysis and decision-making, reducing the need to transmit
all data to the cloud. IoT gateways with edge computing capabilities are in
demand, driving market growth. Compatibility with Multiple Protocols: IoT nodes
and gateways are increasingly designed to be compatible with a variety of
communication protocols, including Wi-Fi, Bluetooth, Zigbee, and cellular. This
flexibility enables organizations to choose the most suitable connectivity
option for their specific IoT use case, enhancing the market's appeal. In
conclusion, the increasing adoption of IoT applications across industries and
the continuous evolution of wireless communication technologies are two
significant drivers of the Global IoT Node and Gateway market. These factors
together contribute to the growing demand for nodes and gateways that can
support diverse IoT deployments, spanning various industries and connectivity
requirements.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global IoT Node and Gateway Market.”
The Global IoT Node and Gateway Market is segmented
into hardware, end user and region. Based on hardware, The Connectivity ICs
segment had the largest market share in 2022 & expected to maintain in the
forecast period. Connectivity ICs (Integrated Circuits) play a crucial role in
the Global IoT Node and Gateway market. These chips are essential components
that enable IoT devices, nodes, and gateways to establish reliable
communication with other devices, networks, and cloud platforms. Connectivity
ICs provide support for a wide range of communication protocols, allowing IoT
nodes and gateways to connect to various networks and devices. This versatility
is critical because IoT ecosystems often consist of devices using different
protocols, such as Wi-Fi, Bluetooth, Zigbee, LoRa, Cellular (3G, 4G, 5G), and
more. Connectivity ICs act as translators, ensuring seamless communication
within the IoT ecosystem. Many IoT deployments involve wireless communication
due to the need for flexibility and mobility. Connectivity ICs for wireless
technologies like Wi-Fi and Bluetooth Low Energy (BLE) enable IoT devices to
connect to local networks, smartphones, and other IoT devices. These ICs are
designed for low power consumption, making them suitable for battery-operated
IoT nodes. In applications where long-range connectivity and low power
consumption are essential, such as smart agriculture and asset tracking,
Connectivity ICs using technologies like LoRa (Long Range) and Sigfox play a
significant role. These ICs provide extended coverage and extended battery
life, enabling IoT nodes and gateways to transmit data over kilometers without
frequent battery replacements.
Based on end user, The Consumer electronics segment
had the largest market share in 2022 and is projected to experience rapid
growth during the forecast period. Consumer electronics play a significant role
in the Global IoT Node and Gateway market, serving as endpoints for user
interaction and data collection. These devices are essential components of the
Internet of Things (IoT) ecosystem, enabling individuals to access and control
IoT applications and services. The IoT Node and Gateway market benefits from
the widespread adoption of IoT-enabled consumer electronics. These devices
include smartphones, tablets, smart TVs, voice assistants (e.g., Amazon Alexa,
Google Assistant), wearables (e.g., smartwatches, fitness trackers), and smart
home appliances (e.g., smart thermostats, smart locks, smart refrigerators).
These devices serve as user interfaces to interact with IoT nodes and gateways,
providing users with control, monitoring, and data access. Consumer electronics
play a crucial role in making IoT applications more user-friendly. Mobile apps,
web interfaces, and voice commands on these devices simplify the management of
IoT devices and data.
Major companies operating in the Global IoT Node
and Gateway Market are:
- Cisco
Systems Inc
- Huawei
Technologies Co., Ltd
- Intel
Corporation
- IBM
Corporation
- Texas
Instruments Incorporated
- Advantech
Co., Ltd.
- Digi
International Inc.
- Schneider
Electric SE
- Mitsubishi
Electric Corporation
- Sierra
Wireless Inc.
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“The Global IoT Node and Gateway market is expected to
rise in the upcoming years and register a significant CAGR during the forecast
period. The number of IoT devices is growing rapidly, as more and more devices
are being connected to the internet. This creates a need for IoT nodes and
gateways to connect these devices to the internet and to each other. IoT nodes and
gateways can collect and transmit real-time data from IoT devices. This data
can be used to improve operational efficiency, make better decisions, and
provide better customer service. Additionally, IoT nodes and gateways need to
be secure and private to protect the data that they collect and transmit. Therefore,
the market of IoT Node and Gateway is expected to boost in the upcoming years.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“IoT Node and Gateway Market –
Global Industry
Size, Share, Trends, Opportunity, and Forecast, Segmented By Hardware (Processor, Sensor, Wired, Wireless, Connectivity
IC, Memory Device), End User (BFSI, Healthcare, Wearable, Consumer Electronics,
Agriculture, Building & Automation), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has
evaluated the future growth potential of Global IoT Node and Gateway Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global IoT Node and Gateway Market.
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