New York, United States, June 10, 2024 (GLOBE NEWSWIRE) -- The Global IoT Node and Gateway Market Size is Expected to Grow from USD 421.82 Billion in 2023 to USD 849.67 Billion by 2033, at a CAGR of 7.25% during the forecast period 2023-2033.
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IoT nodes and gateways are the foundation of the IoT revolution, enabling devices to interact easily with central servers. As the market for these components expands, it is vital to address security and interoperability concerns. The incorporation of digital technologies into manufacturing processes, known as Industry 4.0, has resulted in the rapid growth of IoT nodes and gateways, which are critical components for smart factories because they allow for real-time data exchange between machines, increasing productivity and reducing downtime. Wireless communication technologies, including 5G, have had a substantial impact on the IoT node and gateway business. This high-speed, low-latency connectivity allows for smooth communication between IoT nodes, gateways, and central servers, creating new opportunities for applications such as autonomous vehicles, intelligent infrastructure, and precision agriculture. However, the deployment of energy-efficient technologies is crucial. Companies who seek to align with sustainability standards priorities low-power IoT nodes and gateways to limit their environmental impact.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global IoT Node and Gateway Market Size, Share, and COVID-19 Impact Analysis, By Connectivity (ZigBee, Wi-Fi, Bluetooth, Z-Wave), By Hardware (Processor, Connectivity IC, Sensor, Memory, Logic Devices), By Application (Consumer Electronics, Building Automation, Automotive & Transportation, Wearable Devices, Retail), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023.”
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The Wi-Fi segment is expected to hold the largest share of the global IoT node and gateway market during the anticipation timeframe.
Based on the connectivity, the global IoT node and gateway market is categorized into ZigBee, Wi-Fi, Bluetooth, and Z-Wave. Among these, the Wi-Fi segment is expected to hold the largest share of the global IoT node and gateway market during the anticipation timeframe. Modern Wi-Fi standards, such as Wi-Fi 6, and new technologies, such as Wi-Fi 6E, give greater bandwidth, lower latency, and enhanced reliability, all of which are required to handle the diverse data streams generated by IoT devices.
The connectivity IC segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the hardware, the global IoT node and gateway market is categorized into processor, connectivity IC, sensor, memory, and logic devices. Among these, the connectivity IC segment is expected to grow at the fastest CAGR during the anticipation timeframe. This integrated circuit reduces the bill of materials by integrating several separate components into a single chip. The nPM1300 PMIC serves as a connection IC, increasing power management efficiency in a wide range of battery-powered applications such as wearables, IoT sensors, smart home devices, and portable gadgets. Its integration with Bluetooth Low Energy (BLE) and other wireless protocols provides interoperability and connectivity options for IoT nodes and gateways. This allows for seamless communication and data sharing in IoT ecosystems.
The consumer electronics segment is expected to hold a significant share of the global IoT node and gateway market during the anticipation timeframe.
Based on the application, the global IoT node and gateway market is categorized into consumer electronics, building automation, automotive & transportation, wearable devices, and retail. Among these, the consumer electronics segment is expected to hold a significant share of the global IoT node and gateway market during the anticipation timeframe. Smart appliances, also known as intelligent appliances, can measure and control their energy consumption and send the data to the homeowner. The proliferation of various consumer products, such as improved internet connection and smartphones, has increased demand for IoT nodes and gateways in consumer electronics.
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North America is projected to hold the largest share of the global IoT node and gateway market over the anticipation timeframe.
North America is projected to hold the largest share of the global IoT node and gateway market over the anticipation timeframe. This growth is being driven by increased investment in digital transformation programmes, advancements in sensor technology, and the proliferation of linked devices. Companies utilise IoT nodes and gateways to collect and analyse real-time data, improve operational efficiency, make better decisions, and offer new services to customers. Furthermore, alliances and collaboration between technology providers and business participants.
Asia Pacific is expected to grow at the fastest CAGR growth of the global IoT node and gateway market during the anticipation timeframe. The growing use of IIoT solutions in India is pushing up demand for IoT gateways designed specifically for industrial applications. India's IoT ecosystem is rapidly expanding, especially to government initiatives such as Digital India and the Smart Cities Mission. The country's enormous population, rising smartphone penetration, and developing network infrastructure are boosting the adoption of IoT solutions across multiple industries.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global IoT Node and Gateway Market are Cisco Systems, Inc., Dell Technologies Inc., Helium, Hewlett Packard Enterprise, Huawei Technologies Co., Ltd., IBM Corporation, Intel Corporation, Laird Connectivity, NXP Semiconductors N.V., Particle Industries Inc., Robert Bosch GmbH, Sierra Wireless, STMicroelectronics N.V., Texas Instruments Incorporation, and Other Key Vendors.
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Recent Developments
- In July 2023, Advantech has announced IoTMart International, a new digital commerce platform designed to enable cross-border online business services. This platform complements Advantech's existing distribution system. It is primarily designed to fulfil the specific needs of various consumer segments, with a concentration on small and medium-sized clients.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global IoT node and gateway market based on the below-mentioned segments:
Global IoT Node and Gateway Market, By Connectivity
- ZigBee
- Wi-Fi
- Bluetooth
- Z-Wave
Global IoT Node and Gateway Market, By Hardware
- Processor
- Connectivity IC
- Sensor
- Memory
- Logic Devices
Global Automotive Hypervisor Market, Regional Analysis
North America
-
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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