IoT Gateways Market is Estimated to Grow by 13.53% of CAGR from 2023 to 2030

 

 

The IoT gateways market is anticipated to witness healthy growth from 2023 to 2030, a research report suggests. Growing at a CAGR of 13.53%, the market is projected to reach higher value by 2030. The rise in the number of connected devices is expected to support the market growth along with miniaturization of processors. As predicted by analysts, concerns regarding high investment needs will negatively affect the market’s performance from 2023 to 2030. During the forecast period, the market will be supported by advances in networking topologies and the increasing use of wireless sensors.Complex deployment of IoT solutions on the other hand will challenge connected devices sector based organizations functioning in the global IoT gateways market.

Analysts have split the market into type, node, connectivity, and component segments based on products and services. Connected devices based companies have been profiled. The lack of awareness is set to affect the global market during the forecast period 2018 to 2023. The report also provides the market’s performance forecasts till 2023. Analysts have studied the strategy of connected devices segment based organizations to help new entrants and established businesses. The connected devices sector itself is supported by the increasing awareness among consumers as well as the presence of untapped market opportunities. During the forecast period 2023 to 2030, the IoT gateways market is set to witness a health growth across type, node, connectivity, and component segments as well as regional markets.

 

 

The connected devices sector has seen growth across type, node, connectivity, and component segments owing to technological developments and a rise in disposable income. To study the market, analysts have further segmented type, node, connectivity, and component into ultra-compact, compact, lightly rugged, and rugged on the basis of type. The market is further segmented into the connectivity sub segment which is split into Bluetooth, cellular, Ethernet, Wi-Fi, ZigBee, and others. Additionally, the IoT gateways market on the basis of nodes is segmented into actuator, camera, RADAR, smart TV, smart watch, thermostat, and others. The market is further segmented into component sub segment which is split into field programmable gate array (FPGA), memory card, microcontroller units (MCU), sensor, and others.

The segmental analysis presented in the report provides connected devices field based organizations insights into key growth factors such as the changing social behaviour as well as challenges such as concerns regarding high costs the market will face from 2018 to 2023. the increasing demand from various industry verticals and the increasing spending power of consumers are some of the key factors having an influence on connected devices industry based companies, suggest analysts as per the IoT gateways market report. But the report also identifies the lack of skilled human resources and the lack of R&D investments as major threats companies in connected devices will face till 2023.

 

 

connected devices market based companies in the IoT gateways market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. The increasing preference of consumers will be a key growth driver for regional markets. However, the unavailability of professional services will turn out to be a threat. For the forecast period 2018 to 2023 each of these regional markets are studied in the report. Starting from North America, the regional market and connected devices vertical based companies are spread across the United States, Canada, and Mexico.

The lack of developed infrastructure will turn out to be a major challenge from 2018 to 2023. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the rise in distribution channels as well as the growth of communication channels, suggests the report. Similarly, the connected devices sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the IoT gateways market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2030.

Competitive Landscape

The global IoT gateways market research report brings a comprehensive study of type, node, connectivity, and component market segments, regional analysis, and connected devices vertical based company details of key players. As the forecast period 2018 to 2023 will bring new opportunities for the market owing to the surging usage across different industries and the increasing disposable income, the market is set to grow at a compound annual growth rate of 16.9% and is predicted to reach a higher value by 2023. With SWOT analysis of connected devices sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as the lack of investments in research and development and dynamic policies and regulations, companies in the connected devices sector can change the way business is done.

 

 

Microsoft has denied recent rumours that it intends to purchase industrial IoT technology startup CyberX in order to extend the reach of its Azure IoT security products and include more devices. The CyberX acquisition was announced Monday by the Redmond, Wash.-based firm, more than a month after several Israeli media outlets reported that the companies were close to finalising a contract. Although Microsoft did not reveal the purchase price, early May rumours and a recent article from TechCrunch suggested the sale was worth about $165 million.