Market Overview:
The Global IoT Node and Gateway Market size is expected to grow from USD 409.62 billion in 2022 to USD 585.65 billion by 2030, at a CAGR of 4.57% during the forecast period (2023-2030).
The Internet of Things is a new emerging trend in smart devices which are largely associated with the daily tasks of a huge population around the world. Such devices are generally cloud-based controllers and intelligent sensors. Cloud connectivity allows IoT devices to run seamlessly with quick and secure data transfer and storage. An IoT Gateway is a connection point between cloud and intelligent gadgets, sensors, and controllers which can be in a physical unit or software program. An IoT gateway consists dedicated hardware appliance or software program that allows all data to move between IoT devices and the cloud runs through an IoT gateway which can be stated as an intelligent controlling gateway.
Top Key Players for IoT Node and Gateway Market:
Intel Corporation, Huawei Technologies Co Ltd., NXP Semiconductor N.V., Texas Instruments Incorporated, Cisco Systems Inc., Hewlett Packard Enterprise, TE Connectivity Ltd., Advantech Co. Ltd., Dell Technologies, Microchip Technology Inc., Notion, Helium System Inc., Samsara Networks Inc., Beep Inc., Estimote Inc., Aaeon Technology Inc., Nexcom International Co. Ltd., STMicroelectronics N.V., Eurotech S.P.A, Adlink Technology Inc., Volansys Technologies, Embitel Technologies, Mitsubishi Electric Corporation, Lantronix Inc., Cradlepoint Incand other major players.
Market Dynamics and Factors for IoT Node and Gateway Market:
Drivers:
Increased Internet penetration
Internet penetration has increased dramatically over the last 10 to 15 years in developed regions such as North America and Europe. The imminent adoption of 5th generation mobile communications or 5G should have a positive impact on the IoT market. This is primarily because 5G networks contribute significantly to improving the performance and reliability of these connected devices. 5G meets the needs of faster, higher-capacity networks that meet the needs of connectivity. The 5G spectrum extends the frequency at which digital cellular technology transmits data. This wider spectrum available increases the overall bandwidth of the cellular network and allows additional devices to be connected.
Opportunities:
Governments Support
Governments around the world are supporting and funding IoT research and development to improve productivity. Governments in some countries are calling for improvements and innovations in key areas such as intelligent traffic management systems, and energy savings the Government of India decided to provide approximately $ 2 billion in funding and seize $ 660 billion in unique technologies for 5G and IoT. Therefore, government support can play an important role in the development and growth of the IoT ecosystem.
Segmentation Analysis of the IoT Node and Gateway Market:
- By Hardware, Connectivity IC dominates the hardware segment in IoT Nodes and Gateway market. Connectivity ICs are vital for wi-fi technology inclusive of wireless local area network (WLAN), Wi-Fi, Bluetooth, cellular, and low-strength wi-fi. In an ever-linked world, in which every linked tool is a capability access factor for a classy cyberattack, protection cannot be an afterthought with inside the layout of connectivity ICs and wi-fi devices.
- By End User Application, Consumer electronics is the dominating segment in the IoT nodes and gateways market. With the evolution of some home equipment that can connect with the Internet and smartphones, the boom of the IoT era with inside the patron electronics phase is predicted to acquire a boost. Consumer electronics have a large consumer base with a large product variety in the market to use in day-to-day life, work equipment and systems, smart home appliances, and telemedicine and digital therapeutic devices and platforms which have seamless connectivity.
Regional Analysis of the IoT Node and Gateway Market:
APAC is anticipated to dominate the IoT node and gateway market during the forecasted period. The developing penetration of the net throughout the industrial in addition to residential spaces, huge purchaser base, growing disposable income, and enhancing IT infrastructure are a number of the important thing determinants supplementing the boom of the IoT node and gateway marketplace in APAC. Moreover, the adoption of cloud-primarily based total offerings and the growing fashion of business automation are the important thing boom drivers for the IoT node and gateway marketplace for industrial programs in international locations along with China, South Korea, and Japan.
Key Industry Development:
- In April 2021, Intel Corporation introduced new 3rd Generation Intel Xeon Scalable processors which combined with Intel’s range of Intel Optane persistent memory and storage, Ethernet adapters, FPGAs, and enhanced software solutions.
- In February 2021, Huawei Technologies and China Mobile arrayed the world's first 4.9 GHz commercial LampSite network in Shanghai, China. With aggregate bandwidth of 200 MHz on the 2.6 and 4.9 GHz bands and distributed Huge MIMO were concurrently implemented in digital indoor networks.
