Internet Penetration facilititated by increase in smartphone usage and growing demand in agriculture, Cars and healthcare is driving the market for IOT Gateway device and is expected to grow exponentially.
Covid-19 Impact & Market Status
This report offers exhaustive outlokk of the global IoT gateway devices market with detailed overview on the challenges, opportunities, risks, key segments, competitive environment and more such crucial aspects about the global IoT gateway devices market. The COVID-19 epidemic has a significant impact on the growth potential of IoT gateway device market companies in the first half of 2020. By mid-2020, various regulatory organisations and governments throughout the world had enforced tight lockdown requirements and international trade restrictions, resulting in the shutdown of several automobile, consumer electronics, and industrial manufacturing plants. The temporary suspension of production facilities during the pandemic has resulted in lower expenditures in smart infrastructure by enterprises, which has hampered market acceptance of emerging technologies to some extent.
However, expanding work-from-home scenarios and a growing emphasis on digitalization are likely to boost demand for various wireless computing devices such as tablets, desktop/PCs, laptops, and smartphones, hence boosting industry growth throughout the pandemic. IoT-connected systems are increasingly being used to identify and prevent COVID-19, which has expanded the use of IoT gateways that preprocess data and can respond swiftly using other platform resources.
Ever since the outbreak of the global crisis, impact on upstream, downstream, and midstream industries have been appalling. The report delivers a quick ready-to-deploy approach to counter such crisis and steer the global IOT Gateway devices market towards steady growth and systematic progression.
In this report, inquisitive business players would be provided with sufficient guidelines regarding business transformation, integral to sustain stiffening competition in the pandemic and beyond pandemic era global Food traceability market.
Bluetooth Segment to Boost the Market for IOT Gateway Devices
Internet penetration has expanded dramatically in industrialised nations such as North America and Europe during the last 10–15 years. 5G will answer the need for a quicker network with greater capacity to meet connection requirements. The 5G spectrum broadens the frequency range across which digital cellular devices will transport data. Data transfer speeds will considerably rise with 5G. 5G networks will be ten times quicker than today's LTE networks. This improvement in speed will enable IoT devices to converse and share data more quickly than ever before. 5G provides the foundation for fulfilling IoT's full potential. The industry is aiming to create new global standards and pre-5G products that will benefit industries worldwide.
Bluetooth had 40.5 percent of the revenue share in 2020 and is expected to rise at an 18 percent annual pace through 2027, owing to various high-end characteristics given by the technology such as low power consumption, quicker data exchange rates, and high-end encryption for device pairing. The short-range connectivity and high data-security features promote their use in the building automation industry. Bluetooth communication technology improvement, including the introduction of enhanced features and protocols, is expected to sustain market demand.
Health-Care Segment is expected to witness a Significant Growth during the forecast period
IoT gateway in healthcare is revolutionising the healthcare business by allowing providers to remotely monitor patient health through connected medical devices, as well as collect real-time data and have extended access to monitoring and analysis.
Another factor influencing the industry is a worldwide scarcity of healthcare workers. For example, the United States alone is expected to have a shortfall of 124,000 physicians by 2025, which is significantly fewer than the forecasted shortages in Asia and Africa. These factors point to the need for enhanced medical facilities and advances in the healthcare sector, which are predicted to boost the market as innovative and linked medical equipment becomes more popular.
APAC to Sweep the Largest Revenue Streams Followed by North America
APAC is predicted to have the largest growth in the IoT node and gateway market during the forecast period. Growing internet penetration in commercial and residential areas, a diverse consumer base, rising disposable income, and improved IT infrastructure are some of the main variables fuelling the growth of the APAC IoT node and gateway market. Countries such as China, South Korea, and Japan, the adoption of cloud-based services and the expanding trend of industrial automation are major growth factors for the IoT node and gateway market for commercial applications. APAC is expected to account for a sizable portion of the IoT gateway market. The advancement of research & development in the IoT arena to create smaller, cheaper, and better devices is a prominent driver driving the growth of the Asia Pacific IoT gateway market. China's mobile providers, Telecom and Unicom, are forming domestic and international alliances with vendors and manufacturers in order to deliver connection benefits to a diverse variety of machines, vehicles, and devices. Although IoT relies on a variety of connectivity technologies, including Bluetooth, Wi-Fi, ZigBee, and other short-range wireless technologies, mobile networks are critical in delivering IoT services in China, notably in the automotive and fleet management sectors.
The North America’s market share is also expeted to rise in the forecast years owing to increasing adoption of smart home devices such as service robots, robotic vacuums, smart TVs, smart home appliances, and smart security systems.
The rapidly expanding deployment of IoT devices and networks across hospitals and healthcare institutions is expected to drive the growth of the healthcare application market in the coming years.
Owing to benefits such as advanced interconnection of networks in buildings, healthcare equipment, cars with software, sensors, etc encourage further adoption of IoT gateway devices.
Additionally, the key factors such as growing demand and adoption of IoT devices in agriculture sector, automotive industry, and healthcare are making remarkable progress in global IoT gateway devices market and is ansticpated to experience substantial growth in the forecast period.
The market value of IoT gateway devices market in 2020 was USD 7.51 billion and is anticipated to reach close to USD 64.20 billion until 2028 with an annualized growth rate of 30.87% through the forecast span. Growing internet penetration, increasing smartphone usage, adoption of online payments systems, digitalization are some key factors propelling the global IoT gateway devices market.
Furthermore, the covid-19 lockdowns leading to work form home models and adoption of newer business models has resulted into major adoption on IoT gateway hardware systems. However, IoT-connected platforms are being heavily used to identify and prevent COVID-19, which has expanded the use of IoT gateways that preprocess data and can respond swiftly using other platform resources. Because of the high rate of adoption in any end-use application, whether wearable, healthcare, or retail, IoT offers enormous potential.
The Internet of Things (IOT) connects devices, objects and systems easily that allows to share and data and operations in coordibnated manner across diverse systems and devices. Sensors capture data like temperature, humidity, ambient light, and inventory levels and send it to the cloud via wireless or wired connection protocols. An IoT gateway serves as a communication link between IoT sensors and devices and on the backend a cloud server. An important function of an IoT gateway device is to promote interoperability across the IoT network. The IoT gateway devices allows device configuration and authentication for secure data acess over the network. Also, IoT gateway devices supports edge-analytics. Most importantly allows IoT gateway devices helps businesses bridge gap between operations and IT infrastructure. IoT gateways help businesses bridge the gap between operations and IT infrastructure. This is accomplished by enhancing system performance using operational data collected and processed in real time.
IoT gateways provide a number of benefits to an IoT network, including higher scalability, lower hardware costs, faster production with a shorter time-to-market, lower telecommunications costs, and increased security. Because gateways handle complex processing, memory, and storage requirements, individual sensors are less burdened. IOT gateway devices reduced machine-to-machine traffic, identifies fualty devices, and enables end-to-end encryption for secure communication between sensors and cloud. An IoT Gateway connects IoT devices to cloud or data center-based IoT platforms or apps that consume data from IoT devices. Within an IoT solution, the IoT gateway performs key functions. It establishes a connection between IoT devices and the required data. It also provides processing capacity to allow the data gathered to be modified based on the input, bringing expert system intelligence closer to the sensors and devices.
However, the challenges such as security issues, failed authorization and authentication of devices, deployment challenges, users facing issues in integration of multiple devices on same network, are hampering the global IOT gateway devices market.
Furthermoore in recent days, increased demand for Big Data analytics has had an impact on the global IOT gateway devices market. The demand for IoT gateways in the market is boosted by the desire for analytics, as Big Data aids in the analysis of sensor data and initiates data gathering for various industrial units, such as oil refineries, turbines, and others. It also aids businesses in making better business decisions and developing new company models, goods, and service offerings. Improved internet connectivity in technologically advanced countries, as well as greater IP address space and security solutions provided by IPv6, are some of the global IOT gateway devices market drivers.
In addition, governments all over the world are supporting and sponsoring IoT research and development in order to increase productivity. Several governments are searching for advancements and innovation in crucial sectors such as smart traffic management systems, energy saving via smart metres, and security system enhancements via smart cameras. Several governments are sponsoring new IoT research initiatives in the future for the development of smart cities. This is boosting the global IOT gateway devices market.
Intel Corporation, Nexcom International Co. Ltd., Huawei Technologies Co., Ltd., Aaeon Technology Inc., NXP Semiconductor N.V., Volansys Technologies, Texas Instruments Incorporated, Cradlepoint, Inc ,Cisco Systems, Inc., Hewlett Packard Enterprise, Mitsubishi Electric Corporation ,TE Connectivity Ltd., Advantech Co. Ltd., Dell Technologies, Microchip Technology Inc., Notion, and others are major players in the IoT node and gateway market.
Latest Innovation in the Global Food Traceability Market: A snapshot
- In June 2021, Cisco debuted the Catalyst industrial edge routers for mobile and fixed asset connectivity, as well as an IoT gateway series for IoT use cases. The new range of three routers and a new IoT gateway series would extend the enterprise network and SD-WAN to the edge, allowing organisations to tap into that valuable data to fuel connected operations rather than isolated edge environments.
- In June 2021, Advantech and Acronis struck a global distribution agreement for Enhanced IoT Cyber Protection, which will incorporate its backup offerings into WISE-PaaS/DeviceOn, a device management and co-design solution. This includes Acronis solutions integrated into Advantech boards and systems, as well as an OPAL-enabled backup option that works exclusively with SQFlash.
- In January 2020, Arrow Electronics and Microchip Technology established a collaboration on Edge IoT Security in January 2020. The collaboration's goal is to provide edge compute solution platforms and proprietary edge devices. Arrow Electronics' engineering services will complement Microchip's safe, connected, and smart portfolio.
IOT Gateway Devices Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 64.20 billion|
|Growth Rate||CAGR of 30.87% during 2021-2028|
|Segment Covered||Hardware, User, Connectivity Technology, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Intel Corporation, Nexcom International Co. Ltd., Huawei Technologies Co., Ltd., Aaeon Technology Inc., NXP Semiconductor N.V., Volansys Technologies, Texas Instruments Incorporated, Cradlepoint, Inc ,Cisco Systems, Inc., Hewlett Packard Enterprise, Mitsubishi Electric Corporation ,TE Connectivity Ltd., Advantech Co. Ltd., Dell Technologies, Microchip Technology Inc., Notion, and others|
Key Segments of the Global IOT Gateway devices Market
Hardware Overview, 2018-2028 (USD Billion)
- Heart Rate sensor
- Pressure Sensor
- Temperature Sensor
- Blood Glucose Sensor
- Humidity Sensor
- Flow Sensor
- Memory Device
- Logic Device
User Overview, 2018-2028 (USD Billion)
- Wearable devices
- Building Automation
- Consumer Electronics
Connectivity Technology Overview, 2018-2028 (USD Billion)
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa