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The IoT Node and Gateway Market Size was valued at USD 8.20 billion in 2022, and is expected to reach USD 14.96 billion by 2030, growing at a CAGR of 5.3% over the forecast period 2023-2030, According to the SNS Insider report.
Market Analysis & Report Scope:
An IoT gateway serves as the crucial link between the cloud and various IoT devices like controllers, sensors, and smart gadgets, functioning as a central hub to connect them. This gateway plays a pivotal role in facilitating data exchange, processing, and management between IoT devices and the cloud. The escalating demand for IoT nodes and gateways stems from their pivotal role in enabling seamless communication and data handling within IoT ecosystems across various sectors, including consumer products. Despite the significant growth prospects in the IoT node and gateway market, addressing security concerns remains imperative. However, the vast opportunities presented by IoT technology in domains such as healthcare, smart cities, and agriculture promise a future characterized by enhanced creativity and efficiency across diverse industries through interconnected devices.
Some IoT gateways perform more than just route traffic; they can also pre-process data naturally at the edge prior to disbursing it to the cloud. In doing so, the device may deduplicate, condense, or collect data to lessen the magnitude of data that must be redirected to the cloud. Additionally, the diversity of devices and protocols within the IoT environment poses a notable challenge, requiring smooth interaction between several nodes and gateways from varied manufacturers needing consistent protocols and productive back-end solutions.
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Top Companies Featured in IoT Node and Gateway Market Report:
- Huawei Technologies
- Texas Instruments Incorporated
- Hewlett Packard Enterprise
- Aaeon Components
- Dell Technologies
- Intel Corporation
- NXP Semiconductor
- Cisco Systems
- TE Connectivity
- Advantech
Segmentation Analysis
- Based on Hardware
The IoT Node and Gateway Market is dominated by the connectivity IC component, owing to the growing demand for connectivity for better edge devices connectivity and significant developments in low-power connectivity technologies such as Wi-Fi, Bluetooth, and Bluetooth Low Energy (BLE).
- Based on End Use Application
The Consumer segment dominates the IoT Node and Gateway Market due to the advent of more consumer-oriented electronics and smartphones, fueling the growth of IoT technology in the consumer electronics segment.
IoT Node and Gateway Industry Segmentation as Follows:
BY HARDWARE
- Sensor
- Memory Device
- Processor
- Connectivity IC
- Logic Device
BY END-USE APPLICATION
- Consumer
- Industrial
Growth Factors
- Continuous advancements in IoT technologies, such as sensors, connectivity solutions, and processing capabilities, are expanding the capabilities of IoT nodes and gateways. These advancements enable more efficient data collection, processing, and transmission, driving market growth.
- Various industries, including manufacturing, healthcare, automotive, and agriculture, are increasingly adopting IoT technologies to improve operational efficiency, enhance productivity, and enable new services. This widespread adoption creates a significant demand for IoT nodes and gateways, fueling market growth.
- The proliferation of edge computing, which involves processing data closer to its source rather than in a centralized data center, is driving the demand for IoT nodes and gateways. These devices play a crucial role in facilitating edge computing by collecting and processing data at the edge of the network, reducing latency and bandwidth usage.
- The development of smart cities and infrastructure projects worldwide is driving the demand for IoT nodes and gateways. These projects rely on IoT technologies to improve urban services, enhance public safety, and optimize resource utilization. As a result, there is a growing need for IoT devices to collect and analyze data from various sensors and endpoints deployed throughout cities.
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Impact of Russia Ukraine War
The Russia-Ukraine war has significantly disrupted the supply chain, leading to shortages in electronic components crucial for IoT node and gateway manufacturing. Additionally, geopolitical tensions have caused fluctuations in currency exchange rates, affecting import and export costs, thereby impacting market growth.
Impact of Economic Slowdown
The economic slowdown has led to reduced consumer spending on IoT devices, particularly in non-essential sectors. For example, the consumer electronics segment witnessed a decline in sales as consumers prioritize essential purchases over discretionary spending on IoT devices.
Key Regional Development
APAC is expected to witness the highest growth in the IoT node and gateway market due to growing internet penetration, expanding customer base, increasing revenue, and improving IT infrastructure. The adoption of cloud-based services and growing industrial automation further bolster market growth, particularly in countries like China, South Korea, and Japan.
Key Takeaways
- Technological advancements are driving exponential growth in the IoT Node and Gateway Market.
- Connectivity ICs and consumer electronics segments dominate the market.
- APAC emerges as a key region for market expansion due to infrastructure development and increasing industrial automation.
Recent Developments:
In June 2023: AsiaRF introduced the first Wi-Fi Certified HaLow IoT gateway powered by the Morse Micro MM6108 Wi-Fi HaLow SoC, setting a new industry benchmark for reliable, low-power, long-range connectivity for IoT networks. This advancement promises to enhance global IoT ecosystems by enabling better, more extensive, and energy-efficient communication for IoT devices worldwide.
Major Key Points from Table of Content
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. IoT Node and Gateway Market Segmentation, By Hardware
9. IoT Node and Gateway Market Segmentation, By End Use Application
10. Regional Analysis
11. Company Profile
12. Competitive Landscape
13. USE Cases and Best Practices
14. Conclusion
Continued….
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