The global IoT gateways market is perceiving its heydays enjoying the augmented demand from various industry verticals like healthcare, retail, O&G, and manufacturing among others. Off late, costs of connected devices have significantly dropped down, thanks to the increasing adoption of BYOD and mobile devices that have raised the development of wireless networking technologies. All these factors have commutatively provided impetus for the growth of the IoT gateways market globally.
Acknowledging the exponential traction and accruals the IoT gateways market is enjoying currently market research future (MRFR) in its recently published study report asserts that the global IoT gateways market is projected to garner accruals of USD 9 Bn. approximately by 2023 at a double-digit CAGR of approx. 14% during the forecast period 2017-2023.
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Additional factors substantiating the market growth include the demand for the secure data exchange, the proliferation of the Internet and connected devices.
Simultaneously, the demand for effective solutions delivery for the distribution and monetization of new products and services impacts the market growth positively. Also, the augmenting demand for analytics is fostering the market growth, boosting the IoT gateway requirements and allowing real-time data transfer between machines and networks.
The global IoT gateways market is predominantly driven by the growing need for digitalization coupled with the rising uptake of IoT platform. Other factors that exponentially contribute to driving the global market growth include; increasing IoT gateways applications and the increasing demand for mobile communication. Additionally, availability of a well-established infrastructure that allows implementation of advanced technologies and higher penetration of devices; escort the IoT gateways market to the ascending heights.
Global IoT Gateways Market – Segments:
For the convenience of the report and enhanced understanding; the report is segmented into four key dynamics
By Gateway Types: Lightly Rugged, Rugged, Compact, and Ultra Compact
By Connectivity Types: ZigBee, Wi-Fi, Ethernet, and Bluetooth.
By Industries: Retail, Agriculture, Oil & Gas, Manufacturing, Utilities, Healthcare, Metals & Mining, and Transportation among others.
By Regions: North America, Europe, APAC and the Rest-of-the-World.
Global IoT Gateways Market – Regional Analysis:
The North American region is projected to lead the global IoT Gateways Market Size with the largest market share owing to the presence of key technology providers. Countries such as the U.S. and Canada backed by the increasing demand for digital technologies and growing technological advancements in the region account for the major contributor to the market growth in the region.
Furthermore, the two crucial factors such as the increase in research and development area and the considerable growth in the application areas of IoT gateways drive the growth of the market in the region. Simultaneously, advancements in the wireless communication technologies and convergence of IoT would further increase the growth of IoT gateways market.
Also, the presence of a well-established infrastructure supports the market growth, allowing implementations of advanced technologies. The IoT gateways market in North America is expected to grow further over its previous growth records by 2023, followed by Europe and the Asia Pacific.
Europe accounts for the second-largest market for IoT Gateways, globally. The market is expected to post a considerable CAGR (2017-2023), perceiving a huge uptake of IoT gateways across the region.
The Asia Pacific region is emerging as one of the lucrative markets for the IoT gateways, globally, which is expected to generate a strong CAGR during the forecast period (2017-2023). Rapid industrialization alongside some of the burgeoning sectors such as retail, O&G, and manufacturing mainly in China and India are majorly contributing to the market growth in the region.
Global IoT Gateways Market – Competitive Analysis:
The global IoT Gateways market appears to be competitive. Matured players incorporate collaboration, acquisition, partnership, product launch, and expansion to gain a competitive advantage in the market. To improve their market performance and to execute their expansion plans these vendors are acquiring promising companies in the fast-growing markets.
Marketers employ a continuous improvement strategy to analyze and update the software, implementing improvements and launching new technologies to meet the changing needs of consumers. Some of the major players operating in the market are significantly investing and also have joined forces for developing new technologies for IoT gateways in order to deliver comprehensive IoT solutions for their respective clients.
The global IoT gateways market is driven by some of the leading players including Samsara (U.S.), Eurotech (Italy), Hewlett Packard Enterprise Company (U.S.), Huawei Technologies Co. Ltd. (China), Cisco Systems, Inc. (U.S.), Sierra Wireless (Canada), Advantech Corporation (Taiwan), Bitrective AS (Norway), Advantech B+B Smartworx (U.S.), and Volansys Technologies Pvt. Ltd. (U.S.)
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