The global IoT node and gateway
market size is
estimated to grow from USD 387.1 billion in 2020 to USD 563.7 billion by 2026;
at a CAGR of 6.5%. The major factors driving the IoT node and gateway market’s
growth are the development of internet connectivity, growing use of wireless
sensors and its networks, increased IP address space and better security
solutions made available through IPv6, growth of application-specific MCUs and
flexible SoC-type designs, and growing market of connectivity devices. Concerns
regarding the security and privacy of user data act as restraints for the IoT
node and gateway market.
Memory devices is projected to be
fastest-growing hardware segment in IoT node and gateway market during forecast
period
Memory devices have
been segmented into on-chip memory and off-chip memory. There are different
types of on-chip memories, such as SRAM, Cache, and eMMC. On-chip memories are
in-built in the SoC. SRAM is mostly used in industrial, automotive, and defense
applications, which require high performance. SRAM offers high-speed
performance with reduced power consumption. Off-chip memory is an external
memory as it is not part of the SoC. DRAM, EEPROM, and memory cards are the
types of external memory. DRAM is a type of random access memory, which needs
to be refreshed periodically and is mostly used in servers, PCs, and mobile
devices. It is less expensive than SRAM and is used by system designers to
build computers.
Wearable devices of consumer applications for
IoT node and gateway market to grow at a fastest rate during the forecast
period
Wearable devices
include products such as smart watches, smart glasses, body-worn cameras, and
activity monitors. Wearable computing or wearable technology refers to
electronic devices or equipment, which can be worn by the users on their body.
These devices offer a wide range of functionalities, ranging from monitoring
heart rate and calories burnt to advanced smart features similar to
smartphones. The most advanced wearable devices enable wearers to click
pictures and view them, record videos, read text messages and e-mails, respond
to voice commands, and browse the web.
Aerospace & defense is projected to be the
fastest-growing segment in industrial application of IoT node and gateway
market
IoT provides
connectivity and integration, and equips the manufacturer with wide-ranging
views of their operations in the aerospace and defense segment in industrial
application. The aerospace and defense end-user application uses sensors to
capture comprehensive machine data. These sensors can be used on key equipment,
machines, and vehicles. IoT offers numerous opportunities to airlines for the
improvement of baggage handling and equipment monitoring.
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Various airlines,
such as Delta Air Lines (US) and British Airways (UK), have started adopting
smart baggage tags to speed up the baggage and passenger check-ins, and solve
the problem of lost baggage. The switch of airlines from traditional barcodes
to smart tags is changing the way people travel.
North America to hold largest share of IoT
node and gateway market from 2020 to 2026
This region is a key
market as it is home to some of the largest multinational corporations, such as
Intel Corporation (US), Texas Instruments Incorporated (US), Dell (US), and
Cisco Systems (US), in the IoT ecosystem. Increased R&D in the field of
IoT, in terms of new and improved technologies, and the increasing demand for
improved lifestyle are the two crucial factors driving the growth of the IoT
node and gateway market. Increasing R&D, at both the academic and industry
levels, is broadening the application areas of IoT in different industries,
such as consumer electronics, retail, automotive and transportation, and
healthcare, especially in the US. This is the main factor driving the growth of
IoT applications in North America.
Key Market Players
Major players in the
IoT node and gateway market are Intel Corporation (US), Huawei Technologies
Co., Ltd. (China), NXP Semiconductors N.V. (US), Texas Instruments Incorporated
(US), Cisco Systems Inc. (US), Hewlett Packard Enterprise Co. (US), TE
Connectivity Ltd (Switzerland), Advantech Co., Ltd (Taiwan), Dell Technologies
(US), and Microchip Technology Inc. (US).
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