The market for IoT nodes and gateways was worth USD 387.1 billion in 2020 and is predicted to increase to USD 566.4 billion by 2027, with a CAGR of 6.7 percent from 2021 to 2027.
The development of 5G technology, growing use of wireless smart sensors and networks, growing market for connected devices, increasing demand of data centres due to rising acceptance of cloud platforms, and others are some of the main reasons driving the growth of the IoT node and gateway market.
Market Trends for IoT Nodes and Gateways
The advent of 5G technology is a driving force.
In industrialised nations such as North America and Europe, Internet penetration has expanded dramatically during the last 10–15 years. The anticipated deployment of 5G, or fifth-generation cellular mobile communications, is expected to boost the IoT sector. This is owing to the fact that 5G networks will improve the performance and reliability of these linked devices significantly. 5G will solve the need for a quicker, higher-capacity network that can meet connection requirements. The 5G spectrum increases the number of frequencies that digital cellular technology can use to transmit data. The increased bandwidth of cellular networks is enabled by the broader spectrum available for use, allowing more devices to connect. Any IoT’s economic success is ultimately based on its performance, which is determined by how rapidly it can connect with other IoT devices, smartphones and tablets, and software in the form of an app or a website, among other things. Data transfer speeds will be substantially faster with 5G. 5G networks will be ten times quicker than today’s LTE networks. With this boost in speed, IoT devices will be able to converse and share data more quickly than ever before. The cornerstone for unlocking the full promise of the Internet of Things is 5G. To help all industries, the industry is aiming to build new global standards and pre-5G goods. According to Ericsson AB’s newest Mobility Report, there will be 550 million 5G subscriptions in 2022, with Asia Pacific being the second-fastest-growing area, accounting for 10% of all subscriptions in 2022. Not only is 5G-enabled IoT predicted to allow technical advancement, but it is also estimated to sustain 22 million employment globally. The digitization of transportation, agriculture, manufacturing, and other physical industries is likely to drive this job development. Remote control of more devices will be possible with 5G in applications where real-time network speed is crucial, such as remote control of heavy machinery in hazardous situations, which will improve worker safety, and even remote surgery.
Segmentation of the Market
Geographically, the industrial IoT gateway market is divided into North America, APAC, Europe, South America, and MEA. APAC will account for 36 percent of market growth throughout the projection period, with China being the most important country.
The industrial IoT gateway market has been divided into process and discrete segments based on end-user. During the projected period, the process sector will see significant market share growth.
This detailed vendor analysis is designed to help clients improve their market position, and it includes Advantech Co. Ltd., ASUSTeK Computer Inc., Cisco Systems Inc., Dell Technologies Inc., Hewlett Packard Enterprise Co., Huawei Investment and Holding Co. Ltd., Intel Corp., NXP Semiconductors NV, Siemens AG, and Super Micro Computer Inc., among others. The industrial IoT gateway market analysis report also provides data on emerging trends and obstacles that will have an impact on market growth. This is to assist businesses in strategizing and capitalising on all upcoming growth prospects.
The research was carried out utilising an objective mix of primary and secondary data, as well as input from major industry players. In addition to an examination of the top suppliers, the research includes a complete market and vendor landscape.
The analyst creates a complete image of the market through the examination of key parameters such as profit, price, competition, and promotions, as well as the research, synthesis, and summarization of data from different sources. It identifies the top industry influencers and shows numerous market characteristics. The information offered is thorough, dependable, and the result of rigorous primary and secondary study. Technavio’s market research reports offer a comprehensive competitive landscape as well as an in-depth vendor selection methodology and analysis based on qualitative and quantitative research to anticipate market growth accurately.