According
to the latest market research report "IoT Node and Gateway Market
by Hardware (Processor, Connectivity IC, Sensor, Memory Device, Logic Device),
by End-Use (Wearable Devices, Healthcare, Consumer Electronics, Building
Automation, Industrial, Retail), and Geography - Global Forecast to 2023",
The global IoT Node and gateway market is expected to reach 17.18 billion units
by 2023 from 2.83 billion units in 2016 at a CAGR of 30.9% during the forecast
period. The market has a huge potential of growth in various end-use
applications such as retail, BFSI, and aerospace and defense. The major factor
driving the growth of the IoT node and gateway market are improved internet
connectivity in technologically advanced countries and increased IP address
space and better security provided by IPv6. Moreover, in emerging economies such
as India, China, and Brazil, the improving IT infrastructure, along with
business-friendly initiatives by government organizations is driving the growth
of the IoT node and gateway market. The scope of the report includes the
hardware vendors of IoT gateway and major end use applications such as wearable
devices, healthcare, automotive and transportation and BFSI, oil and gas and
many more.
Connectivity IC held the largest market
share in 2016
The
IoT node and gateway market for connectivity IC, by hardware, held the largest
share in 2016. 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 contributing factors leading
to the largest market share of connectivity ICs in 2016.
BFSI end-use application to witness the
highest growth rate between 2017 and 2023
BFSI
end-use application is expected to grow at the highest rate during the forecast
period. The mass adoption of online banking, contactless payment, and mobile
banking apps has increased significantly. Banks are trying to create
intelligent and personalized customer cross-selling opportunities. The shipment
of the BFSI end-use application in the IoT node and gateway market would
largely be driven by the increasing adoption of mPOS.
North America leads the IoT node and
gateway market, in terms of volume
In
2016, North America held the largest share of the IoT node and gateway market,
in terms of volume. North America is one of the fastest-growing markets in
terms of technological advancement, manufacturing operations, and
infrastructure. The wide-scale adoption of IoT technologies in several
industries such as retail, automotive and transportation, and healthcare is the
key factor supporting the growth of the IoT node and gateway market in this
region.
Key Players
The
key players in the market are Intel Corporation (US), Huawei Investment &
Holding Co., Ltd. (China), NXP Semiconductor N.V. (Netherlands), Texas
Instruments Inc. (US), Cisco Systems Inc. (US), Hewlett Packard Enterprise Co.
(US), TE Connectivity Ltd. (Switzerland), STMicroelectronics N.V.
(Switzerland), Advantech Co., Ltd. (Taiwan), Dell Inc. (US), Eurotech S.P.A
(Italy), AAEON Technology Inc. (Taiwan), Adlink Technology Inc. (Taiwan),
NEXCOM International Co. Ltd. (Taiwan), and Microchip Technology Inc. (US).
Moreover, the chapter profiles some of the new players in the IoT node and
gateway market such as Notion (US), Helium System Inc. (US), Samsara Networks
Inc. (US), Estimote Inc. (US), and Beep Inc. (US).
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