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Market Highlights:The global IoT gateways market can anticipate an exponential growth with 16.9% CAGR and reach a market valuation of USD 15.59 billion during the forecast period (2018-2023). Fast transforming industrial scenario requires faster connectivity. This gives rise to a demand for an interface that would connect all devices in a network and enable better communication. Hence, the need for Internet of things (IoT) which helps users with access to control of multiple functions such as scalability, fault tolerance, and power consumption of nodes & transceivers for smooth data flow. With IoT’s turning intelligent by getting embedded controls, it has started reducing the complexity and cost of endpoints, which has cemented its place in healthcare and other industry verticals.
Efficient working of IoT gateways requires integration of heterogeneous networks such as Zigbee Ad-hoc network, wireless LAN, cable network, and others. Its applications in environmental monitoring, intelligent transportation, medical care, smart home, industry control, safety, defense for high data-rate, end-to-end connectivity, and higher bandwidth of multi-hop networks need high implementational cost which can cripple the expected growth rate for the considerable period.
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Major Key Players:
• Samsara (U.S.),
• Hewlett Packard Enterprise Company (U.S.),
• Cisco Systems, Inc. (U.S.),
• Huawei Technologies Co. Ltd. (China),
• Advantech B+B Smartworx (U.S.),
• Bitrective AS (Norway),
• Advantech Corporation (Taiwan),
• Eurotech (Italy),
• Sierra Wireless (Canada),
• Volansys Technologies Pvt. Ltd. (U.S.)
According to MRFR, The global IoT gateways market is expected to grow at approx. USD 9 Billion by 2023, at 14% of CAGR between 2017 and 2023.
Segmentation Analysis:
The IoT gateways market can be segmented by gateway type, component, connectivity, application, and node.
Types of IoT gateways include lightly rugged, rugged, compact, and ultra-compact. The compact segment is estimated to touch a market size of USD 6.04 billion by 2023. The advent of IoT based devices coupled with the demand for high-speed Internet is forecasted to drive the segment growth at a 18.1% CAGR over the forecast period. The rugged segment is expected to display a 17.1% CAGR during the same period.
Components in the IoT gateways market include field programmable gate array (FPGA), microcontroller unit (MCU), sensor, memory card, and others. The sensor segment valuation is expected to balloon to USD 5.23 billion at a 18.2% CAGR over the forecast period. This can be credited to the integration of sensors in IoT devices in industrial network architecture and other smart devices. Increasing demand of wearables can have a sizeable impact on the segment growth in the coming years.
By connectivity, the market is segmented into Bluetooth, Wi-Fi, ZigBee, Ethernet, cellular, and others. The Wi-Fi segment is expected to reach USD 3.42 billion by 2023, exhibiting a 15.24% CAGR over the forecast period. Its use in monitoring systems in industries and ensuring the seamless transmission of data is expected to bode well for the segment demand in the coming years.
Regional Analysis:
Geographically, the IoT gateways market spans across regions namely North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America currently leads the market with an estimated value of USD 2,397.8 million and the scenario is expected to remain so with the regions anticipated climb to a valuation of USD 5,522.5 million. Its state-of-the-art infrastructure can take the credit of its superior positioning. Various industries are implementing the technology and investing substantially in hope to gain much. At the same time, people in the region, are prone to adapt a superior lifestyle which gives the region further boost and the CAGR during the review period could go up to 15.4%.
Europe’s status in the market based on features is almost similar to that of North America and with a CAGR of 16.8%, the regional market could escalate to USD 3,882.1 million valuation. However, the APAC is anticipated to register the maximum CAGR of 19%, considerably higher than its peers. This can be attributed to a burgeoning industrial sector that is witnessing exclusive growth and could help compete with North America neck-to-neck. By 2023, the APAC could climb up to USD 5,471.7 million valuation.
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Intended Audience
• Technology investors
• Startup companies
• Consumer wearable manufacturers
• Research/Consultancy firms
• Private Equity groups
List of Tables
TABLE 1 LIST OF ASSUMPTIONS
TABLE 2 GLOBAL IOT GATEWAY MARKET, BY GATEWAY TYPE, 2016-2023 (USD MILLION)
TABLE 3 GLOBAL IOT GATEWAY MARKET, BY GATEWAY TYPE, 2016-2023 (K UNITS)
TABLE 4 GLOBAL IOT GATEWAY MARKET, BY COMPONENT, 2016-2023 (USD MILLION)
TABLE 5 GLOBAL IOT GATEWAY MARKET, BY CONNECTIVITY, 2016-2023 (USD MILLION)
TABLE 6 GLOBAL IOT GATEWAY MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
TABLE 7 GLOBAL IOT GATEWAY MARKET, BY REGION, 2016-2023 (USD MILLION)
TABLE 8 NORTH AMERICA: IOT GATEWAY MARKET, BY COUNTRY, 2016- 2023 (USD MILLION)
TABLE 9 NORTH AMERICA: IOT GATEWAY MARKET, BY GATEWAY TYPE, 2016-2023
Continued……
List of Figures
FIGURE 1 GLOBAL IOT GATEWAY MARKET: MARKET STRUCTURE
FIGURE 2 RESEARCH PROCESS OF MRFR
FIGURE 3 TOP DOWN & BOTTOM UP APPROACH
FIGURE 4 DROC ANALYSIS OF GLOBAL IOT GATEWAY MARKET
Continued……
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Organization: Market Research Future
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Website: https://www.marketresearchfuture.com/reports/iot-gateways-market-2956
Release ID: 472935
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