IoT Gateway Market scrutinized in the new analysis – WhaTech Technology and Markets News

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North America is expected to dominate the IoT gateway market during the forecast period, because of the huge presence of many IoT gateway companies in the region.

In the rapidly evolving landscape of technology, the Internet of Things (IoT) has emerged as a transformative force, permeating various industries globally. At the heart of this revolution lie IoT gateways, integral components facilitating seamless connectivity for both existing and next-gen devices. This article delves into the dynamic realm of the IoT Gateway Market, projecting its trajectory from a valuation of US$ 1.49 Bn. in 2022 to an anticipated US$ 3.65 Bn. by 2029, with a remarkable CAGR of 13.6%.

Unveiling the IoT Gateway Market Universe:

IoT gateways play a pivotal role in the connectivity chain, offering functionalities such as protocol translation, data filtering, device connectivity, and security. Acting as the bridge between sensors, controllers, and intelligent devices, these gateways, whether in hardware or software form, are instrumental in channeling data to and from the cloud. This specialized hardware or software plays a crucial role in steering the course of the IoT Gateway Market, enabling a myriad of applications.

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Market Dynamics:

The surging demand for big data analytics stands out as a prime driver propelling the growth of the IoT gateway market. As industries increasingly adopt analytics, IoT gateways facilitate data collection and analysis, particularly in sectors like oil refineries and turbines. This data-driven approach not only enhances business decisions but also fuels innovation in business models, products, and services.

Security emerges as a key aspect, with IoT gateways addressing cloud security concerns by providing an additional layer of protection. However, challenges such as high installation costs and the complexity of gateway design, requiring skilled professionals, present hurdles for market expansion.

Revolutionizing Healthcare:

In the healthcare sector, IoT gateways are reshaping the landscape by enabling remote patient monitoring and real-time data collection through connected medical solutions. Custom-designed IoT devices, like air quality sensors, enhance patient safety, especially for those undergoing surgical procedures. These devices form mesh networks that transmit data to internal gateways, contributing to improved operational metrics and compliance.

Segment Analysis:

by Node

Smart Watch
Camera
RADAR
Thermostat
Actuator
Smart TV
Others

by Connectivity Technology

Bluetooth
Wi-Fi
ZigBee
Ethernet
Z-Wave
Others

by Component

MCU
FPGA
Sensor
Memory
Others

by Application

Wearable Devices
Healthcare
Automotive & Transportation
Building Automation
Industrial
Consumer Electronics

Connectivity Technology:

Bluetooth Dominance: The Bluetooth segment commands a significant share, contributing 40.5% of revenue in 2022. Its projected CAGR of 18% during the forecast period is attributed to characteristics such as low battery consumption, fast data transfer rates, and robust encryption, making it ideal for short-range communications.

Component:

MCU Prowess: The MCU (Microcontroller Unit) segment takes the lead with a 37.3% share in 2022. The growing use of MCUs in modular IoT gateway devices, facilitating multi-protocol capabilities, fuels its dominance. Market participants are focused on product development to meet rising industry demands.

Application:

Industrial Augmentation: The industrial segment is poised to claim 34% of revenue by 2029, with a CAGR of 15%. In manufacturing facilities, IoT gateways connect various industrial components, enhancing plant efficiency and production capacity.

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Regional Insights:

North America’s Dominance: North America is expected to lead the IoT Gateway Market, driven by the substantial presence of IoT gateway companies and ongoing research and development initiatives. The region’s focus on developing smaller, cost-effective, and enhanced IoT devices propels market growth.

Asia-Pacific’s Rapid Growth: Asia-Pacific is anticipated to exhibit the fastest growth rate during the forecast period. Increased investments in IoT by companies and developers contribute to the region’s burgeoning IoT gateway market.

Keypalyers:

1.Intel Corporation 2.Mitsubishi Electric Co 3.NXP Semiconductors N.V. 4.Super Micro Computer 5.ARM Holdings 6.Huawei Investment 7.Texas Instruments 8.Cisco 9.Hewlett Packard 10.TE Connectivity Ltd. 11.STMicroelectronics 12.Advantech Co 13.Dell Inc. 14.Eurotech S.P.A 15.AAEON Technology 16.Adlink 17.NEXCOM International Co 18.Microchip Technology 19.Notion 20.Helium System 21.Samsara Networks 22.Estimote Inc 23.Beep Inc.

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Key questions answered in IoT Gateway Market are:

  • What is IoT Gateway?
  • What are the recent industry trends that can be implemented to generate additional revenue streams for IoT Gateway Market? 
  • Which factors are the lucrative opportunities for the IoT Gateway market growth?
  • Which factors are limiting the scope of IoT Gateway market?
  • How is the intervention from regulatory authority is shaping the IoT Gateway Market?
  • What growth strategies are the key players considering to increase their presence in IoT Gateway Market?

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