IoT Node and Gateway Market Overview:
The IoT node and gateway market is witnessing rapid growth, driven by the proliferation of connected devices across industries. IoT nodes and gateways play a critical role in enabling seamless communication between devices and the cloud, ensuring efficient data collection, processing, and management for IoT applications.
Global IoT node and gateway market size and share is currently valued at USD 456.36 billion in 2023 and is anticipated to generate an estimated revenue of USD 995.25 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 9.1% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2023 – 2032
Key Market Drivers:
- Rising Adoption of IoT Devices: Increasing deployment of IoT-enabled systems in industries such as healthcare, manufacturing, and retail is boosting the demand for nodes and gateways.
- Advancements in Connectivity Technologies: The integration of 5G, LPWAN, and Wi-Fi 6 is enhancing IoT communication, driving market growth.
- Demand for Edge Computing: IoT gateways with edge computing capabilities are gaining traction for real-time data processing and reduced latency.
- Smart Cities and Industrial IoT (IIoT): Growing investments in smart city projects and industrial automation are fueling the adoption of IoT nodes and gateways.
IoT Node and Gateway Market Future Outlook:
The IoT node and gateway market is expected to grow significantly as IoT adoption expands across sectors. Emerging trends such as AI-driven IoT, enhanced security protocols, and energy-efficient devices will redefine the market landscape. With increasing focus on sustainability and advanced connectivity solutions, the market will play a pivotal role in driving the IoT ecosystem forward.
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Key Companies in IoT Node and Gateway Market:
- Advantech Co., Ltd.
- Cisco Systems, Inc.
- Dell Technologies Inc.
- Hewlett Packard Enterprise Development LP
- Huawei Technologies Co., Ltd.
- Intel Corporation
- Microchip Technology Inc.
- NXP Semiconductors N.V.
- Quectel Wireless Solutions Co., Ltd.
- Sierra Wireless, Inc.
- STMicroelectronics N.V.
- Telit Communications PLC
- Texas Instruments Incorporated
- Toshiba Corporation
- Ubiquiti Inc.
IoT Node and Gateway Industry Developments:
Recent industry developments include the introduction of AI-enabled gateways for smarter IoT networks and advancements in low-power, high-performance nodes for extended device lifespan. Companies are partnering with cloud service providers to offer integrated IoT solutions. Additionally, innovations in multi-protocol gateways are addressing compatibility challenges, fostering seamless interoperability in IoT systems.
IoT Node and Gateway Market Segmentation:
Polaris Market Research has segmented the IoT node and gateway market based on component (hardware, software), connectivity type (Wi-Fi, Bluetooth, ZigBee, LPWAN, 5G), and end-user (industrial, healthcare, automotive, smart home). This segmentation reflects the broad applicability of IoT nodes and gateways across various industries.
IoT Node and Gateway, Component Outlook (Revenue – USD Billion, 2019 – 2032)
- Hardware
- Software
- Services
IoT Node and Gateway, Connectivity Type Outlook (Revenue – USD Billion, 2019 – 2032)
- Bluetooth
- Wifi
- Zigbee
- Others
IoT Node and Gateway, End-User Outlook (Revenue – USD Billion, 2019 – 2032)
- Consumer Electronics
- Oil & Gas
- Building Automation
- Automotive & Transportation
- BFSI
- Healthcare
- Retail & E-Commerce
- Others
The IoT node and gateway market is a cornerstone of the IoT ecosystem, enabling efficient communication and data management. With ongoing technological advancements, the market is set to drive the next wave of innovation and connectivity in the digital era.