The IoT Node and Gateway market is growing rapidly, mainly due to the rising demand for better internet networks. Besides, increasing implementations of advanced technology to improve communication networks positively impact the market growth. Moreover, the miniaturization of sensors and increased use of sensors in biometric applications substantiate the market size.
The proliferation of connectivity technologies, such as Bluetooth, ZigBee, Wi-Fi, and near field communication technology, is a significant factor boosting the IoT node and gateway market. According to Market Research Future (MRFR), the global IoT node and gateway market is poised to grow at a staggering 29% CAGR during the review period (2017-2027).
Spurring rise in demand for the latest security and authentication technologies in various information-sensitive industries is a major driving force for market growth. BFSI accounts for the largest market share due to the high adoption of online banking, contactless payments, and mobile banking application. Additionally, the rising uptake of IoT nodes and gateways in automation and IT & telecom sectors create substantial market demand.
IoT Node and Gateway Market – Segments
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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Major Players:
Players leading the global IoT node & gateway market include NXP Semiconductor NV (Netherlands), Intel Corporation (US), Texas Instruments Incorporated (US), Hewlett Packard Enterprise Co. (US), Cisco Systems Inc. (US), STMicroelectronics NV (Switzerland), Eurotech SPA (Italy), Advantech Co., Ltd. (Taiwan), Aaeon Components Inc. (Taiwan), and Adlink Components Inc. (Taiwan), among others.
Global IoT Node & 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 – Competitive Analysis
Highly competitive, the IoT node & gateway market appears fragmented, with many well-established players forming a competitive landscape. Players initiate strategies such as mergers & acquisitions, collaboration, expansion, and innovations to gain a larger competitive share.
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Industry/ Innovation/ Related News:
October 21, 2020 --- Senet, a provider of cloud-based software and services platforms and on-demand network build-outs for IoT, announced a full suite of RAN planning & management tools, business development programs, and co-marketing initiatives supporting the deployment of commercial LoRaWAN solutions.
The move would broaden the opportunity for traditional infrastructure providers and other physical asset owners to participate in the IoT services economy. The program also includes network design and RF planning, such as gateway placement, end node coverage simulation, and redundancy strategies and planning. Besides, it would benefit RAN deployment services for gateway hardware acquisition, gateway provisioning & staging, installation, and onboarding to the Senet Network Server.
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