PUBLISHER: Orion Market Research | PRODUCT CODE: 1159421
PUBLISHER: Orion Market Research | PRODUCT CODE: 1159421
Global IoT Gateway Market Size, Share & Trends Analysis Report by Component (Processor, Sensor, Memory and Storage Device) by Connectivity (Bluetooth, Wi-Fi, ZigBee, Ethernet, Cellular) by End User (Component (Processor, Sensor, Memory and Storage Device) by Connectivity (Automotive and Transportation, Healthcare, Industrial, Consumer Electronics, BFSI, Oil and Gas, Retail, Aerospace and Defense) Forecast 2022-2028
The global IoT gateway market is anticipated to grow at a significant CAGR of 17.33% during the forecast period. The IoT gateway provides the communication between the devices to one, filters data into useful information, and mitigates security risks. At present, there is a significant rise in the application of IoT gateway in the healthcare industry. They offered real-time data collection and monitored patient health through connected medical solutions remotely. This along with the increasing need for advanced medical facilities and improving the healthcare sector by providing various IoT-related technical services. Moreover, the surge in the internet connectivity, uninterrupted increase in the requirement of smartphones, and other electronic devices, and rise in the use of wireless sensors, are some of the major factors bolstering the growth of the global IoT gateway market.
The global IoT gateway market is segmented on the basis of component, connectivity, and end-user. Based on component the market is bifurcated into processor, sensor, and memory and storage device. Based on connectivity, the market is sub-segmented into blue tooth, Wi-Fi, ZigBee, ethernet, cellular. Based on end-user, the market is sub-divided into automotive and transportation, healthcare, industrial, consumer electronics, BFSI, oil and gas, retail, aerospace and defense. Based on the component, the processor segment is anticipated to grow at the fastest rate. IoT processors provide controlling, sensing, processing, storing, and interpreting of information when inserted into wearable devices, and consume little power. Hence, owing to its widespread application, the segment shows at a significant growth.
Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The Asia-Pacific region is likely to support the growth of the market. The governments of different countries are taking initiatives to make cities smart cities with the help of the right analytical IoT tools. The integration of IoT in the aerospace and defense sector in the Asia Pacific region, acts as a major factors behind the market growth.
The major companies serving the global IoT gateway market are ADLINK Technology Inc., Cisco, Intel Corp., Mitsubishi Electric Automation Inc., Texas Instrument, Huawei Technologies Co. Ltd., Lantronix, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaboration, funding, and new product launches, to stay competitive in the market. For instance, in August 2021, Iota Communications Inc. announced the signing of product development and license agreement with Tektelic communication inc. to develop a Multi-SubGHz Band LoRAWAN gateway for the US market. The Multi-SubGHz gateway is based on Semtech's LoRa devices-to-cloud platform. The device-to-cloud platform enables the rapid development and deployment of ultra-low power, cost efficient, and long-range IoT networks, gateways, module products, and IoT services.
Research Methodology
The market study of the global IoT gateway market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: