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The Internet of Things (IoT) Node and Gateway market exhibits a complex interplay of market dynamics that significantly influence its trajectory. One key dynamic is the continuous expansion of the IoT ecosystem across various industries. As businesses increasingly recognize the potential of IoT technologies to enhance operational efficiency and gather valuable insights, the demand for IoT nodes and gateways experiences a consistent upswing. This expansion is driven by the integration of smart devices in diverse sectors, ranging from healthcare and manufacturing to agriculture and smart cities.
Technological advancements play a pivotal role in shaping the market dynamics of IoT nodes and gateways. The evolution of edge computing, improved connectivity options, and enhanced security features continually redefine the capabilities of these devices. Companies that stay at the forefront of technological innovation are better positioned to meet the evolving needs of customers, driving market growth. The dynamics of technological advancements also foster competition, as companies strive to outpace each other in offering more sophisticated and efficient solutions.
Interoperability is a critical dynamic influencing the IoT Node and Gateway market. The seamless communication and integration of diverse IoT devices require nodes and gateways to be interoperable. As the number of connected devices from different manufacturers increases, the market dynamics push towards standardization and compatibility. Interoperability ensures that devices can work cohesively within an IoT ecosystem, promoting a more integrated and collaborative network of connected devices.
Security concerns are another significant dynamic shaping the market landscape. With the escalating volume of data generated by IoT devices, the need for robust security measures intensifies. The market dynamics reflect a growing emphasis on implementing secure IoT solutions, with nodes and gateways at the forefront of ensuring data integrity and confidentiality. Companies that prioritize and address security concerns effectively are likely to gain a competitive advantage in the market.
Market regulations and standards act as a guiding force in the IoT Node and Gateway market dynamics. Governments and industry bodies play a crucial role in establishing guidelines to ensure the reliability, interoperability, and security of IoT devices. Compliance with these regulations becomes a key consideration for businesses, shaping their product development and market strategies. The dynamics of regulatory compliance influence the market by creating a level playing field and fostering consumer trust in IoT solutions.
The role of data analytics is a dynamic force that significantly impacts the IoT Node and Gateway market. As the volume of data generated by IoT devices increases, the ability to analyze and derive actionable insights becomes paramount. Companies that offer nodes and gateways with advanced analytics capabilities gain a competitive edge. The dynamics of data analytics influence the market by driving the demand for devices that not only facilitate data exchange but also contribute to informed decision-making through comprehensive data analysis.
Moreover, the cost dynamics of IoT nodes and gateways are instrumental in market growth. The economies of scale, technological advancements, and competitive pressures contribute to the gradual reduction in the cost of these devices. This cost dynamics opens up opportunities for a wider range of businesses to adopt IoT solutions, fostering market expansion. Affordable pricing structures become a catalyst for increased adoption and market penetration, especially in sectors where cost considerations play a significant role.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Hardware, End-User, and Region |
IOT Node Gateway Market Highlights:
Global IoT Node and Gateway Market Overview:
IoT Node and Gateway Market Size was valued at USD 3.7 Billion in 2023. The IoT Node and Gateway market industry is projected to grow from USD 4.7 Billion in 2024 to USD 28.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 25.08% during the forecast period (2024 - 2032). Increased demand for better internet networks and IoT enabled devices, and personalized technologies are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
IoT Node and Gateway Market Trends
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Growing demand for better internet networks is driving the market growth
Market CAGR for IoT node and gateway is driven by increased demand for better internet networks. The rapid adoption of 5G worldwide is a market trend that is now emerging. The development is primarily because 5G networks will significantly improve the functionality and dependability of these linked devices. A faster, more capable network that can meet connectivity needs will be provided by 5G. 5G will address the requirement for a faster network with higher capacity to serve connectivity needs. The 5G spectrum increases the frequencies digital cellular technologies will carry data. This amount of spectrum that can be used expands the cellular network's overall bandwidth, enabling more devices to connect.
Additionally, the development of connected appliances by commercial organizations and the ecosystem supporting them are speeding up. The fast development of linked appliances leads to the growth of the IoT gateway market since the IoT gateway serves as the foundational element of the IoT building block.
Edge computing was created primarily to address the problems associated with IoT connectivity. Suppose an edge ecosystem is close enough to meet the user’s needs. In that case, users can directly connect basic devices and sensors to it.
For instance, Ericsson’s AS’s latest Mobility Report estimates that 550 million people will have 5G subscriptions worldwide in 2022, with Asia-Pacific experiencing the second-fastest growth rate, with 10% of all subscriptions being 5G. In addition to enabling technological advancement, 22 million jobs are anticipated to be supported globally by 5G-enabled IoT. The digitization of transportation, manufacturing, and other physical industries is anticipated to be the source of this job increase. More devices can be controlled remotely thanks to 5G when real-time network speed is crucial, including operating dangerous machinery remotely or performing remote surgery. As a result, it is anticipated that demand for IoT node and gateway will increase throughout the estimated period due to the growing demand for IoT-enabled devices with better-quality networks. Thus, driving the IoT Node and Gateway market revenue.
IoT Node and Gateway Market Segment Insights:
IoT Node and Gateway Hardware Insights
The IoT Node and Gateway Market segmentation, based on hardware, includes processor, sensor, wired, wireless, connectivity IC, and memory device. The connectivity IC segment generated the most revenue due to the increasing need for upgraded connectivity in technological devices and advancements in low-power connectivity technologies such as Bluetooth, Bluetooth Low Energy (BLE), and Wi-Fi. Developing wireless technologies like WiFi, Bluetooth, Cellular, Wireless Local Area Networks (WLAN), and low-power wireless depends on connectivity ICs.
IoT Node and Gateway End-User Insights
The IoT Node and Gateway Market segmentation, based on end-user, include BFSI, healthcare, wearable, consumer electronics, agriculture, building & automation. The consumer electronics category generated the most income. IoT nodes and gateways can manage a smart home's lighting, temperature, security, and energy use. Moreover, the development of numerous consumer gadgets that can link to smartphones and the internet is expected to boost the market for IoT technology in the consumer electronics sector.
Figure 1: IoT Node and Gateway Market, by End-User, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
IoT Node and Gateway Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American IoT Node and Gateway market will dominate this market, owing to the rise in government initiatives towards transforming cities into smart cities. In addition, the increasing demand for advanced IoT solutions due to the rising availability of high-speed data will boost market growth in this region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: IoT Node and Gateway Market SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe IoT Node and Gateway market accounts for the second-largest market share due to the key players' supportive policies and investment. Further, the German IoT Node and Gateway market held the largest market share, and the UK IoT Node and Gateway market was the fastest-growing market in the European region.
The Asia-Pacific IoT Node and Gateway Market are expected to grow at the fastest CAGR from 2023 to 2032 due to the rapid improvement in infrastructure and rising per capita disposable income. Moreover, China’s IoT Node and Gateway market held the largest market share, and the Indian IoT Node and Gateway market was the fastest-growing market in the Asia-Pacific region.
IoT Node and Gateway Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the IoT Node and Gateway market, grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, IoT Node and Gateway industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturer’s use in the global IoT Node and Gateway industry to benefit clients and increase the market sector. In recent years, the IoT Node and Gateway industry has offered some of the most significant advantages to technology. Major players in the IoT Node and Gateway market, including Intel Corporation (US), NXP Semiconductor N.V. (Netherlands), Texas Instruments Incorporated (US), Cisco Systems Inc. (US), Hewlett Packard Enterprise Co.(US), STMicroelectronics N.V. (Switzerland), Advantech Co/. Ltd. (Taiwan), Eurotech S.P.A. (Italy), Aaeon Components Inc. (Taiwan), Adlink Components Inc. (Taiwan), and others, are attempting to increase market demand by investing in research and development operations.
Texas Instruments Incorporated (TI) is an American technological business with its main office in Dallas, Texas. It creates and produces integrated circuits and semiconductors, which it then sells to producers and designers of electronics worldwide. According to sales volume, it ranks among the top 10 semiconductor businesses globally. The company concentrates on making inserted analog circuits and CPUs, which provide more than 80% of its sales. Additionally, TI produces educational technology and TI digital light processing technology. Products like multi-core CPUs, microcontrollers, and calculators. For Instance: In April 2023, Texas Instruments, to help designers implement highly dependable, secure, and efficient Wi-Fi connections for applications to operate with high-density or high-temperature settings up to 105 0C at a reasonable cost, created the SimpleLink series of Wi-Fi 6 companion integrated circuits (ICs).
METCAL is an innovative Benchtop Solutions Expert that has provided extensive value to customers as a leader in innovative benchtop solutions. The company provides electronics makers with the tools and the confidence- to produce quicker, safer, more sophisticated devices by providing unmatched performance, risk reduction, and ROI. For Instance: METCAL, a manufacturer of benchtop soldering systems, has made its new CV-IoT gateway module and desktop applications available. These tools let operations management get sophisticated soldering data from any benchtop station connected to their network. By linking the CV-IoT gateway to Metcal Connection Validation (CV) soldering equipment, a computer, or a network, operations can improve process control and efficiency in the soldering process.
Key Companies in the IoT Node and Gateway market include
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Intel Corporation (US)
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NXP Semiconductor N.V. (Netherlands)
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Texas Instruments Incorporated (US)
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Cisco Systems Inc. (US)
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Hewlett Packard Enterprise Co. (US)
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STMicroelectronics N.V. (Switzerland)
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Advantech Co. Ltd. (Taiwan)
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Eurotech S.P.A (Italy)
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Aaeon Components Inc. (Taiwan)
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Adlink Components Inc. (Taiwan)
IoT Node and Gateway Industry Developments
June 2023: The first Wi-Fi Certified HaLow IoT gateway was made available globally by AsiaRF, a provider of wireless connection solutions; the Morse Micro MM6108 Wi-Fi HaLow SoC powers it. The new gateway establishes a new benchmark for the industry by offering dependable, low-power, and long-range connectivity for the IoT networks because it supports the IEEE 802.11 Wi-Fi HaLow standards. This discovery will significantly contribute to developing global IoT ecosystems by enabling better, more extensive, and energy-efficient communication for IoT devices globally.
May 2022: ADB SAFEGATE will launch LINC Node, an IoT Node, an IoT gateway for the infrastructure of airfield ground lighting. It is Wi-Fi and transmits telemetry and status updates to the cloud wirelessly. CCRs and ILCMS units, among other airfield ground illumination equipment, are connected to the mobile device or HMI via the LINC Node.
IoT Node and Gateway Market Segmentation:
IoT Node and Gateway Hardware Outlook
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Processor
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Sensor
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Wired
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Wireless
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Connectivity IC
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Memory Device
IoT Node and Gateway End-User Outlook
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BFSI
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Healthcare
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Wearable
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Consumer Electronics
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Agriculture
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Building & Automation
IoT Node and Gateway Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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