According to a research report "IoT Node and Gateway Market
with Covid-19 Impact Analysis, by Hardware (Processor, Connectivity IC, Sensor,
Memory Device, and Logic Device), End-use Application (Industrial and
Consumer), Geography - Global Forecast to 2027" published by
MarketsandMarkets, the IoT node and gateway market was valued at USD 387.1
billion in 2020 and is projected to reach USD 566.4 billion by 2027; it is
expected to grow at a CAGR of 6.7% from 2021 to 2027. The key factors driving
the growth of the IoT node and gateway market include emergence of 5G
technology, growing use of wireless smart sensors and networks, growing market
for connected devices, increasing necessity of data centers due to rising
adoption of cloud platforms, and others.
Connectivity
IC segment to account for the largest share of IoT node and gateway market
during the forecast period
On the basis of
Hardware, the IoT node and gateway market has been segmented into processor,
sensor, connectivity IC, memory device, and logic device. the connectivity IC
segment held the largest share of the overall IoT node and gateway market, in
terms of volume. The increasing demand for better edge devices connectivity and
significant developments in low-power connectivity technologies, such as Wi-Fi,
Bluetooth, and Bluetooth Low Energy (BLE), are the key factors supporting the
growth of the connectivity IC segment.
Consumer
application to account for the largest share of IoT node and gateway market
during the forecast period
Based on end-use
application, the IoT node and gateway market has been segmented into industrial
and consumer. Consumer application held the largest share of the overall IoT
node and gateway market to during the forecast period. With the evolution of a
number of consumer appliances that can connect to the Internet and smartphones,
the growth of IoT technology in the consumer electronics segment is expected to
receive a boost.
APAC is
expected to register the highest growth of IoT node and gateway market during
the forecast period
APAC is expected to
register the highest growth in the IoT node and gateway market during the
forecast period from 2021 to 2027. The growing penetration of the internet
across commercial as well as residential spaces, broad consumer base,
increasing disposable income, and improving IT infrastructure are some of the
key determinants supplementing the growth of the IoT node and gateway market in
APAC. Moreover, the adoption of cloud-based services and rising trend of
industrial automation are the key growth drivers for the IoT node and gateway
market for commercial applications in countries such as China, South Korea, and
Japan.
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Major players
operating in the IoT node and gateway market are Intel Corporation, Huawei
Technologies Co., Ltd., NXP Semiconductor N.V., Texas Instruments Incorporated,
Cisco Systems, Inc., Hewlett Packard Enterprise, TE Connectivity Ltd.,
Advantech Co. Ltd., Dell Technologies, Microchip Technology Inc., Notion,
Helium System Inc., Samsara Networks Inc., Beep Inc., Estimote Inc., Aaeon
Technology Inc., Nexcom International Co. Ltd., STMicroelectronics N.V.,
Eurotech S.P.A, Adlink Technology Inc., Volansys Technologies, Embitel
Technologies, Mitsubishi Electric Corporation, Lantronix, Inc., and
Cradlepoint, Inc., and so on.
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