IoT Gateways Market

Global IoT Gateways Market Size (2024 to 2029)

The global IoT gateways market is predicted to reach USD 26.61 billion in 2024 and USD 102.64 billion by 2029, growing at a CAGR of 31% during the forecast period.

An IoT gateway marketplace is a physical device or software program offered by vendors that serves as a connection point between the cloud and components such as processors and sensors embedded in various connectivity within the device that offer different solutions to end users, such as automotive transportation and healthcare. The growth of application-specific microcontrollers and flexible SOC-type designs is driving the market. Many IoT applications tend to handle sensitive data, such as the data used for billing, which must be protected from hacking.

Market Growth and Trends:

The Internet of Things (IoT) is at the forefront of digitization with new trends defined by cognitive computing, distributed commerce, augmented reality, and the potential use of drones in the retail industry. All the information captured and collected by the sensors is transmitted to the gateways. The gateway is responsible for the global addressing of each store using IPv4 addresses. In addition, each gateway is assigned a coverage area, in which each store has been assigned an IP address, facilitating the efficient identification of the products sold in that store through the cloud.

In January 2020, Microsoft surveyed 168 decision-makers within retail companies to better understand the current state of the IoT ecosystem in retail, where 87% of respondents believe that IoT is critical to their business. Success in business. In the United States, IoT Gateway is often used for store security and analytics.

In addition to improving customer experience, IoT gateway integration is mainly used in digital signage, smart vending machines, and contactless point of sale (point of sale). To keep building new channels and revenue streams, adopting Kiosks and Responsive Retail is best. For the optimization of supply chain operations, IoT Gateway adoption is used to secure the platform that drives a range of smart solutions and the extensive use of RFID-assisted inventory movement and tracking. Gamers provide IoT gateway architecture based on demand from retailers.

Global IoT Gateways Market Drivers:

The main drivers of the IoT gateway market are the improvement of internet connectivity in countries with technological advancement and greater IP address space and security solutions delivered in IPv6. The IoT gateway can invalidate the cloud security issue by offering its own levels of security. The rising need for IoT-enabled devices and customized technologies is promoting growth in the global IoT gateways market. High installation costs due to the need for multiple gateways and the complex design of IoT gateways requiring skilled professionals are the major factors limiting the growth of the global IoT gateways market.

Impact of Covid-19 on the global IoT gateways market:

Additionally, due to the recent COVID-19 outbreak, investments and deployments in IoT are slowing down. However, with major disruptions to global health and supply chains, governments, hospitals, insurers, and logistics service providers must respond quickly for a more connected world that could help better cope with the current crisis and mitigate future crises.

There must be synergy between the different ministries, control measures, and a tool to effectively identify and monitor the objectives. According to Wipro's study, the IoT gateway will be crucial in obtaining data from the tracking device and tracking targets. The target can be tagged with a GPS device and will be geo-fenced to track and record the target's movements. Providers are seizing the opportunity in the coronavirus pandemic situation by offering emerging technology solutions to healthcare organizations. For example, in early April 2020, the Shanghai Public Health Clinical Center (SPHCC) announced that it was using gateways from Bluetooth IoT product and solution provider Cassia Network and wearable medical sensors from VivaLNK to monitor COVID-19 patients.

GLOBAL IOT GATEWAYS MARKET REPORT COVERAGE:

This research report on the global IoT gateways market has been segmented and sub-segmented based on the type, component, connectivity, application, node, and region.

Global IoT Gateways Market - By Type:

• Lightweight

• Rugged

• Compact

• Ultra-Compact

Global IoT Gateways Market - By Component:

• Field Programmable Gate Array (FPGA)

• Microcontrollers (MCUs)

• Sensors

• Memory Cards

Global IoT Gateways Market - By Connectivity:

• Wi-Fi

• Bluetooth

• ZigBee

• Ethernet

• Cellular

• Others

Global IoT Gateways Market - By Application:

• Consumer Electronics

• Building Automation

• Automotive And Transportation

• Wearable Devices

• Healthcare

• Industry

• Others

Global IoT Gateways Market - By Node:

• Smart Watch

• Smart TV

• Actuator

• Camera

• RADAR

• Thermostat

Global IoT Gateways Market - By Region:

• North America

• Europe

• Asia Pacific (APAC)

• Middle East & Africa

The report examines in detail the various players residing in these regions and their respective strategies to climb the market ranks.

Among these regions, North America is expected to dominate the IoT Gateway market during the forecast period, owing to the huge presence of many IoT Gateway companies in the area. Also, advancing research and development in the IoT space to develop smaller, cheaper, and improved devices is one of the key factors contributing to the advancement of the North American IoT Gateway market. The North American region is expected to be followed by Asia-Pacific and Europe. However, the IoT gateways market is expected to index the fastest growth rate in Asia-Pacific during the outlook period because of the increased investment in IoT by enterprises and developers in Asia-Pacific, supporting the development of this industry.

KEY MARKET PARTICIPANTS:

The major players in the global IoT gateway market include Siemens AG (Germany), Huawei Technologies Co. Ltd. (China), Fujitsu Ltd. (Japan), Sierra Wireless, Inc. (Canada), Eurotech SPA (Italy), Cisco Systems, Inc. (United States), Hewlett Packard Enterprises Company (United States), NEC Corporation (Japan), Mitsubishi Electric Corporation (Japan), Toshiba Corporation (Japan), Dell Technologies (United States), Lantronix Inc. (United States), Robert Bosch GmbH (Germany), and others.

RECENT DEVELOPMENTS:

• In April 2020, Laird Connectivity announced its plan to introduce the Sentrius MG100 Micro-Gateway, which can simplify data connectivity from Bluetooth sensors to the cloud. It is backed by the Pinnacle 100 cellular modem, where the MG100 micro-gateway integrates long-range Bluetooth 5 and LTE-M / NB-IoT in one factor micro-IoT little gateway form. This unique wireless combination enables new long-range Bluetooth sensor use cases to link sensor data to the MG100 microport and then to the cloud, all in a simple, cost-effective architecture.