IoT Node and Gateway Market, By Component, By Application, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2023-2030
IoT Node and Gateway Market size was valued at USD 8,054.7 Million in 2022, expanding at a CAGR of 30.3% from 2023 to 2030.
Internet of Things (IoT) nodes and gateways are essential components of IoT networks. IoT nodes are frequently battery-powered and engineered for low-power operation to extend their longevity. They can be used in a variety of applications, from industrial settings to smart homes. A gateway works as a middleman to open connections between the cloud and controllers (sensors/devices) in the Internet of Things (IoT). It allows either device-to-device or device-to-cloud connectivity. IoT Gateways are essential parts of IoT infrastructure since they establish communication connections and conduct other tasks as detailed above. So an IoT Gateway is one of the most important things to consider when considering an IoT ecosystem.
IoT node and gateway Market- Market Dynamics
Increasing usage of connected devices and wireless networking technologies in various end-use industries are expected to propel market demand.
IoT device use is increasing across a wide range of industries, including healthcare, agriculture, smart cities, manufacturing, and transportation. These gadgets frequently serve as IoT nodes, gathering data from their surroundings. Manufacturing IoT gateways provide real-time data analysis, predictive maintenance, and process optimization, leading in increased efficiency and less downtime. The rise of cloud platforms and big data analytics requires efficient and seamless data gathering and transmission, highlighting the significance of IoT nodes and gateways. In 2020, the combined end-user spending on cloud services totaled USD270 billion. In 2021, this is expected to increase by 23.1 percent to a staggering USD332.3 billion. By 2022, projections indicate that this figure will rise to USD397.5 billion, according to Cloud Computing Statistics. Furthermore, Advancements in Wireless Communication Technologies are expected to provide growth opportunity for the market. Moreover, Global legislation governing data protection, privacy, and device standards might provide complications for IoT vendors.
IoT node and gateway Market- Key Insights
As per the analysis shared by our research analyst, the global IoT node and gateway market is estimated to grow annually at a CAGR of around 30.3% over the forecast period (2023-2030)
Based on Component segmentation, Hardware was predicted to show maximum market share in the year 2022
Based on Application segmentation, Consumer was the leading type in 2022
On the basis of region, North America was the leading revenue generator in 2022
IoT node and gateway Market- Segmentation Analysis:
The Global IoT node and gateway Market is segmented on the basis of Component, Application, and Region.
The market is divided into three categories based on Components: Hardware, Software and Service. The hardware segment dominates the market. The IoT node and gateway market is growing rapidly, particularly in terms of hardware. Companies in this field must remain nimble and innovative in the face of constant technological breakthroughs and shifting requirements based on application domains.
The market is divided into two categories based on application: Industrial and Consumer. The consumer segment dominates the market. The Internet of Things (IoT) has revolutionized the consumer landscape by interconnecting ordinary items and providing a more integrated and engaging user experience.
IoT node and gateway Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the growth of the IoT node and gateway Market, due to the Emergence of 5G technology, the growing use of wireless smart sensors and networks, growing market for connected devices.
Wireless sensors are becoming more popular due to their capacity to monitor numerous parameters in real-time without the need for cumbersome wiring. These sensors are critical in industries such as smart cities, healthcare, agriculture, and others. North America witnessed early adoption of 5G technology, with telecom behemoths deploying 5G networks in key cities. According to 5G Americas, the voice for 5G and LTE in the Americas, connections to 5G networks have on average doubled every year since its commercial inception in late 2018, reaching 922 million connections by the end of the third quarter of 2022, according to data from Omdia. Europe is the second largest market, due to the proliferation of IoT applications in healthcare, manufacturing, agriculture, and smart cities.
IoT node and gateway Market- Competitive Landscape:
The market for IoT (Internet of Things) nodes and gateways is rapidly developing, bringing with it a complex interplay of competition and demand dynamics. These are influenced by a variety of reasons, including technical advancements, changing end-user needs, regulatory changes, and geopolitical issues. As industries and consumers become increasingly aware of the benefits of IoT, which range from operational efficiency to new revenue sources, demand is increasing. A variety of factors influence both competition and demand, and organizations aspiring to be market leaders must stay adaptable, innovative, and customer-centric. Companies such as NXP Semiconductors, Texas Instruments, and STMicroelectronics play critical roles in delivering the hardware components required for both IoT nodes and gateways.
Recent Developments:
In Sep.2020, Helium's plan to create a decentralized wireless network may be about to gain altitude. The company, which aims to create a token-powered wireless network for Internet of Things (IoT) devices, announced Tuesday it's no longer the sole manufacturer of Helium hotspots, which create the Helium network by mining the project's HNT cryptocurrency.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL IOT NODE AND GATEWAY MARKET KEY PLAYERS
Cisco Systems Inc.
Sierra Wireless
Intel Corporation
IBM Corporation
Huawei Technologies Co. Ltd.
Dell Technologies Inc.
Advantech Co. Ltd.
NXP Semiconductors N.V.
Eurotech
Particle Industries Inc.
Helium
Laird Connectivity
Robert Bosch GmbH
STMicroelectronics N.V.
Texas Instruments Incorporation
GLOBAL IOT NODE AND GATEWAY MARKET, BY COMPONENT
Hardware
Processor
Sensor
Connectivity ic
Memory Device
Logic Device
Software
Service
GLOBAL IOT NODE AND GATEWAY MARKET, BY APPLICATION
Industrial
Healthcare
Automotive and transportation
Building Automation
Retail
BFSI
Oil and gas
Aerospace and Defense
Agriculture
Others
Consumer
Wearable devices
Consumer electronics
GLOBAL IOT NODE AND GATEWAY MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1. IoT Node and Gateway Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. IoT Node and Gateway Market Snippet by Component
2.1.2. IoT Node and Gateway Market Snippet by Application
2.1.3. IoT Node and Gateway Market Snippet by Country
2.1.4. IoT Node and Gateway Market Snippet by Region
2.2. Competitive Insights
3. IoT Node and Gateway Key Market Trends
3.1. IoT Node and Gateway Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. IoT Node and Gateway Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. IoT Node and Gateway Market Opportunities
3.4. IoT Node and Gateway Market Future Trends
4. IoT Node and Gateway Industry Study
4.1. PEST Analysis
4.2. Porter's Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. IoT Node and Gateway Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. IoT Node and Gateway Market Landscape
6.1. IoT Node and Gateway Market Share Analysis, 2022
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players' Analysis
6.2.2. Emerging Players' Analysis
7. IoT Node and Gateway Market - By Component
7.1. Overview
7.1.1. Segment Share Analysis, By Component, 2022 & 2030 (%)
7.1.2. Hardware
7.1.2.1. Processor
7.1.2.2. Sensor
7.1.2.3. Connectivity Ic
7.1.2.4. Memory Device
7.1.2.5. Logic Device
7.1.3. Software
7.1.4. Service
8. IoT Node and Gateway Market - By Application
8.1. Overview
8.1.1. Segment Share Analysis, By Application, 2022 & 2030 (%)
8.1.1.1. Industrial
8.1.1.1.1. Healthcare
8.1.1.1.2. Automotive and transportation
8.1.1.1.3. Building Automation
8.1.1.1.4. Retail
8.1.1.1.5. BFSI
8.1.1.1.6. Oil and gas
8.1.1.1.7. Aerospace and Defence
8.1.1.1.8. Agriculture
8.1.1.1.9. Others
8.1.1.2. Consumer
8.1.1.2.1. Wearable devices
8.1.1.2.2. Consumer electronics
9. IoT Node and Gateway Market- By Geography
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2022 & 2030 (%)
9.2. North America
9.2.1. Overview
9.2.2. IoT Node and Gateway Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.2.4. North America Market Size and Forecast, By Component, 2018 - 2030 (US$ Million)
9.2.5. North America Market Size and Forecast, By Application, 2018 - 2030 (US$ Million)