Market Overview:
The market for IOT node and gateway 2020 can touch an approximate valuation of USD 17 Billion by the end of 2023, says Market Research Future (MRFR). The market is estimated to procure a growth rate of 29% between 2017 and 2023, which is the evaluation period.
Top Boosters and Main Challenges
IoT node and gateway holds significant potential, which boosts its use in various industries like retail, defense, aerospace, BFSI and more. The expanding IP address space, enhanced security provided by IPv6, and the rising internet connectivity all over the world stimulates the growth of the market for IoT node and gateway. The surge in government-backed initiatives and the advancements in the IT infrastructure, mostly in developing countries like India, Brazil, and China, are some other growth inducers in the market. In the years to come, surging deployment of wireless sensors, rising use of microcontroller units, and improving internet connectivity can also benefit the worldwide market.
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The mounting production as well as the shipment of various logics devices backed by the rising demand for wearable devices by the expanding population of tech savvy consumers also works wonders for the market. Wearable technology has gained substantial ground in recent years, especially in Brazil, India and China, leading the IoT node and gateway market to greater heights.
Increasing use and advancements in the connectivity technology like Zigbee, Bluetooth, near field communication technology and Wi-Fi are the top trends currently prevalent in the node and gateway industry.
Key Players
The prominent players in the IOT Node And Gateway Market are- Intel Corporation (U.S.), NXP Semiconductor N.V. (Netherlands), Texas Instruments Incorporated (U.S.), Cisco Systems Inc. (U.S.), Hewlett Packard Enterprise Co. (U.S.), Stmicroelectronics N.V. (Switzerland), Advantech Co., Ltd. (Taiwan), Eurotech S.P.A (Italy), Aaeon Components Inc. (Taiwan), Adlink Components Inc. (Taiwan) and others.
IOT Node and Gateway Market – Regional Analysis
North America dominates the global IoT node and gateway market. The market growth attributes to technological advancements and opportunities in various sectors. Besides, the developed network infrastructure and increasing IP security space in the region drive the growth of the market. Rapid adoption of cloud and mobile applications in BFSI, healthcare, wearable, consumer electronics, and other sectors pushes regional market growth.
Europe stands second in the global IoT node and gateway market. The market growth is fostered by the increasing uptake of IoT node & gateway solutions in government establishments like cyber authorities and policies to protect confidential data. Moreover, the growing adoption of cloud-based services by small and large organizations fosters regional market growth.
The Asia Pacific IoT node and gateway market is growing rapidly. Factors such as the increasing improvements in IoT network structure and the rising adoption of IoT node & gateway in increasing numbers of enterprises to enhance network structure boost the regional market growth. Additionally, the rising demand for IoT node & gateway solutions from the banking & financial services, media & entertainment, and manufacturing sectors increases market size.
IOT Node and Gateway Market – Segmentation
The IoT node & gateway market forecast is segmented into components, end-user, and regions. The component segment is sub-segmented into hardware and solutions. The hardware sub-segment is further bifurcated into processor, sensor, connectivity IC, memory devices, and others.
The processor segment consists of microcontroller (MCU), microprocessor (MPU), digital signal processor (DSP), application processor (AP), and others. The sensor segment consists of blood glucose sensors, temperature sensors, and others. The connectivity IC segment consists of Modbus, profinet, Foundation Fieldbus (FF), and others. The memory device segment consists of on-chip memory and off-chip memory/external memory.
The solution sub-segment is further bifurcated into wired and wireless. The wireless segment consists of Ant+, Bluetooth, BLE, WLAN, ZigBee, Wi-Fi, NFC, WHART, GNSS, ISA100, and others. The end-user segment is sub-segmented into BFSI, healthcare, wearable, consumer electronics, agriculture, building & automation, and others.
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