At a compound annual growth rate (CAGR) of 6.5% from 2022 to 2030, the size of the worldwide IoT node and gateway market is projected to increase from USD 412.3 million in 2021 to USD 726.7 million. Controllers, sensors, and intelligent devices are connected to the cloud via Internet of Things (IoT) gateways. The node is the most important kind of IoT device. The physical object that is connected to the Internet of Things and collaborates with other nodes is called a node.
The cloud manages the sensors on the devices that supply the data. Either lightweight sensor devices that mainly gather status data at pre-programmed intervals or middleweight equipment with programmable functions—such as temperature, door lock, and security sensors, among others—are the most common types of nodes.
Over the past few years, the internet has been more and more widely used. The market for Internet of Things is likely to benefit from the impending introduction of 5G, the fifth generation of cellular mobile communications. The main reason for this is because 5G networks will enhance the dependability and performance of these connected devices. The requirement for a quicker, more capable network to meet connection demands will be handled by 5G. The market will expand as a result of this element in the following year according to the Market Statsville Group (MSG).
COVID-19 Impact on the Global IoT Node and Gateway Market
The IoT node and gateway markets were negatively impacted by COVID-19 as companies reduced their investments in cutting-edge products and services to stay competitive. Because of the disruption to the manufacturing and supply chain, the pandemic only momentarily affects it. Production, supply chains, and demand for IoT nodes and gateways will all rise in the projected period as the post-pandemic scenario improves.
Scope of the Global IoT Node and Gateway Market
The study categorizes the IoT node and gateway market based on hardware and end-user at the regional and global levels.
By Hardware Outlook (Sales, USD Million, 2017-2030)
- Processor
- Connectivity IC
- Sensor
- Memory Device
- Logic Device
By End-User Outlook (Sales, USD Million, 2017-2030)
- Consumer Electronics
- Oil & Gas
- Agriculture
- Automotive
- BFSI
- Transportation
- Healthcare
- Aerospace & Defense
- Retail
- Others
Connectivity IC segment is projected to account for the largest market share, by hardware
The worldwide IoT node and gateway market is segmented into processor, connection, sensor, and memory device segments based on hardware. In the worldwide IoT node and gateway market in 2021, the connectivity integrated circuit (IC) category held the biggest market share. Wireless technologies such as Bluetooth, WiFi, cellular, low-power wireless, wireless local area network (WLAN), and Bluetooth depend on connectivity integrated circuits (ICs). Moreover, throughout the projection period, the market would be driven by an increase in demand for devices with improved connectivity.
Asia Pacific accounts for the highest CAGR during the forecast period
The markets for IoT nodes and gateways have been divided into five regions: North America, Europe, South America, Asia-Pacific, and the Middle East and Africa. Throughout the course of the forecast period, Asia Pacific is anticipated to have the highest CAGR in the world’s IoT node and gateway market. Countries including China, India, Japan, South Korea, Australia, Southeast Asia, and the rest of Asia-Pacific are included in the region.
Strong economic growth has been the main driver of the region’s expansion, with factors including rising internet penetration, a sizable customer base, the growing use of cloud-based services by small and medium-sized businesses, rising disposable income, and government initiatives to support digitalization and smart city developments all contributing to this growth.
In addition, the rise in digital awareness toward IoT nodes will lead to a huge demand for IoT nodes and gateway technologies in Asia-Pacific.
Key Market Players in the Global IoT Node and Gateway Market
The global IoT node and gateway market are highly competitive, with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.
Major players in the global IoT node and gateway market are:
- Hewlett Packard Enterprise Company
- Cisco Systems, Inc.
- Dell Technologies
- Huawei Technologies Co. Ltd.
- Advantech B+B Smartworx
- ADB SAFEGATE
- Samsara Networks Inc.
- Eurotech
- Texas Instruments Incorporated
- TE Connectivity Ltd
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