The IoT Node and Gateway market was valued at USD 424.6 billion in 2024 and is estimated to reach USD 604.7 billion by 2029, registering a CAGR of 7.3% during the forecast period. The growth of market is driven by the emergence of 5G technology, the Rising use of wireless smart sensors and networks, the Provision of increased IP address space through IPv6, and the Increasing need for data centers.
Drivers: Rising use of
wireless smart sensors and networks
Growing popularity of
smart wearable devices and various smart consumer electronics such as smart
meters, smart locks, and smart lighting in recent years, sensors such as
proximity sensors, accelerometers, and camera modules entered the consumer
electronics market. The array of sensors is now rapidly expanding beyond motion
and image sensing to include those that measure humidity, altitude, food
calorie composition, and human health. According to the World Health
Organization, the global elderly population aged 60 or older is expected to
reach 2 billion by 2050. This demographic shift increases the prevalence of
chronic conditions, falls, and disabilities, necessitating preventive
interventions. Smart wearables offer solutions across healthcare domains, from
monitoring physical activity and mental status to managing chronic diseases
like diabetes and heart disorders. These devices enhance patient management,
improve disease management, and facilitate remote monitoring, thereby driving
demand for IoT nodes and gateways to support data transmission, analysis, and
integration in healthcare systems.
Restraint: High power
consumption by wireless sensor terminals and connected devices
High power consumption
directly translates to increased operational costs for businesses deploying IoT
solutions. Devices like High-Powered Sensor Nodes, LoRaWAN gateways, Edge
Computing Device, and Industrial IoT (IIoT) Gateways require frequent battery
replacements or consume substantial amounts of electricity; this can lead to
higher maintenance expenses, reducing the overall cost-effectiveness of IoT
deployments. As a result, organizations may hesitate to invest in IoT node and
gateway solutions, hindering market expansion. High-power IoT devices also
contribute to environmental degradation by consuming excessive energy, leading
to increased carbon emissions and energy consumption. As businesses and
governments face mounting pressure to moderate their environmental footprint
and mitigate climate change, the adoption of energy-efficient technologies
becomes imperative. Companies seeking to align with sustainability goals may
prioritize low-power alternatives to IoT nodes and gateways to minimize their environmental
impact.
Opportunities:
Accelerated IoT adoption in healthcare sector.
The integration of
Internet-connected robots, known as medical robotics, in surgery signifies a
significant IoT advancement in healthcare. Equipped with sensors and cameras,
these robots enable precise procedures and real-time data transmission to
surgeons for remote monitoring and adjustments. As medical robotics continue to
revolutionize healthcare, the role of IoT nodes and gateways becomes paramount
in enabling seamless connectivity and real-time data transmission, steering
precision and efficiency in surgical procedures. Transenterix develops robotic
surgery systems for minimally invasive procedures, Myomo creates neuro-robotic
devices aiding those with upper-limb paralysis, Rewalk Robotics offers
exoskeletons for mobility assistance, and Diligent Robotics produces autonomous
robots for healthcare tasks.
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Challenge: Requirement
for wireless spectrum and licensed spectrum
The requirement for
wireless spectrum and licensed spectrum depicts a significant challenge for the
growth of the IoT node and gateway market. The limited availability of wireless
spectrum can constrain the deployment of IoT devices, particularly in densely
populated urban areas where spectrum congestion is more prevalent. According to
Global Mobile Suppliers Association (GSA), in January 2023, the rise of
wireless spectrum saw significant growth, with the total number of spectrum
bands globally reaching 568, an increase of 6.5% compared to January 2022.
Specifically, the number of licensed spectrum bands increased by 11.2% to reach
434 bands, while the number of unlicensed spectrum bands grew by 0.9% to reach
134 bands. The demand for spectrum is expected to exceed supply in many
regions, leading to spectrum scarcity and increased competition for available
frequencies. This scarcity of spectrum can impede the expansion of IoT
networks, limiting their scalability and coverage.
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