The global IoT gateway market reached a value of US$ 1.42 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.03 Billion by 2027, exhibiting at a CAGR of 13.56% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
An Internet of Things (IoT) gateway refers to an intelligent central hub for IoT devices. It comprises communication technologies that help connect end-devices, such as sensors, actuators, blackened platforms, and subscriber management, to the gateway. It also includes a computing platform that allows pre-installed or user-defined applications to manage data, devices, communication, security, and other aspects of the gateway. Nowadays, there is a rise in the demand for IoT gateway as it assists in connecting devices to one another, translating communication between the devices, filtering data into useful information, and mitigating security risks.
IoT Gateway Market Trends:
- At present, there is a rise in the deployment of edge computing to overcome IoT connectivity challenges. This, in confluence with the advent of 5G technology that acts as the new IoT gateway, wherein systems are designed for supporting connected devices, represents one of the key factors bolstering the growth of the market. Besides this, there is a significant rise in the application of IoT gateways in the healthcare industry. They aid in monitoring patient health through connected medical solutions remotely, offering real-time data collection and extending access to time monitoring and analysis. This, along with the rising need for upgrading medical facilities and improving the healthcare infrastructure, is contributing to market growth. Furthermore, the coronavirus disease (COVID-19) outbreak has positively influenced the utilization of IoT-connected platforms to detect and prevent the spread of the pandemic. This, in turn, is increasing the employment of IoT gateways around the world. Other factors, such as the growing number of connected devices and the increasing IoT adoption across several industry verticals, are anticipated to drive the market worldwide.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global IoT gateway market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, connectivity type and end user.
Breakup by Component:
- Memory and Storage Device
Breakup by Connectivity Type:
Breakup by End User:
- Automotive and Transportation
- Consumer Electronics
- Oil and Gas
- Aerospace and Defense
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being ADLINK Technology Inc., Advantech Co. Ltd, Cisco Systems Inc., Dell Technologies Inc., Eurotech, Fujitsu Limited, Hewlett Packard Enterprise Development LP, Intel Corporation, Mitsubishi Electric Corporation, NXP Semiconductors N.V., Siemens AG and Super Micro Computer Inc. Key Questions Answered in This Report:
- How has the global IoT gateway market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global IoT gateway market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the connectivity type?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global IoT gateway market and who are the key players?
- What is the degree of competition in the industry?