The iot gateways global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
IoT Gateways Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The IoT gateways market size has grown rapidly in recent years. It will grow from $1.70 billion in 2023 to $1.99 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to proliferation of IOT devices, edge computing needs, cloud integration, cost reduction, and demand for real-time insights.
The IoT gateways market size is expected to see rapid growth in the next few years. It will grow to $3.77 billion in 2028 at a compound annual growth rate (CAGR) of 17.4%. The growth in the forecast period can be attributed to edge artificial intelligence (AI) and machine learning (ML) acceleration, blockchain integration, edge-to-cloud continuum, environmental monitoring and sustainability, customization and modularity and lifecycle management and maintenance. Major trends in the forecast period include AI and machine learning integration, interoperability standards, hybrid cloud and edge deployments, demand for low-power solutions and vertical-specific solutions.
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Scope Of IoT Gateways Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
IoT Gateways Market Overview
Market Drivers –
The enhanced internet connectivity is expected to propel the growth of the IoT gateways market going forward. Internet connectivity refers to the ability of devices to connect and communicate with each other through the Internet, enabling the exchange of information and facilitating communication. The rising internet connectivity is due to economic incentives, policy initiatives, increasing demand for digital services, and changing consumer behaviors. IoT gateways are instrumental in ensuring that IoT devices and systems reliably and securely connect to the Internet, manage data efficiently, and maintain essential communications, which is crucial to leveraging IoT solutions’ full potential across various sectors. For instance, in November 2022, according to the International Telecommunication Union, a Switzerland-based specialized agency, around 5.3 billion individuals, representing 66% of the world’s population, were Internet users in 2022, an increase of 6.1% compared to 2021. Therefore, enhanced internet connectivity is driving the growth of the IoT gateways market.
Market Trends –
Major companies operating in the IoT gateways market are developing technologically advanced products, such as automotive-qualified Ethernet PHYs, to drive revenues in the market. The automotive-qualified ethernet PHY (physical layer) is an essential element within IoT gateways, facilitating high-speed communication and data transfer between IoT devices and the cloud. For instance, in July 2023, Microchip Technology, a US-based manufacturer of specialized semiconductor products, launched its automotive-qualified Ethernet PHYs, the LAN8670/1/2 10BASE-T1S devices. These devices have advanced features such as enhanced EMC/EMI performance, sleep/wake functionality, and time-sensitive networking support for precise time synchronization. Notably, they offer advanced PHY diagnostics and support multiple Ethernet PHYs on a shared bus line, effectively reducing cabling and switch ports while ensuring functional safety readiness for ISO 26262 applications.
The iot gateways market covered in this report is segmented –
1) By Component: Processor, Sensor, Memory And Storage Device, Other Components
2) By Connectivity: Bluetooth, Wi-Fi, ZigBee, Ethernet, Cellular, Other Connectitvities
3) By End-User: Automotive and Transportation, Healthcare, Industrial, Consumer Electronics, Banking, Financial Services And Insurance (BFSI), Oil And Gas, Retail, Aerospace and Defense, Other End-Users
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Regional Insights –
North America was the largest region in the IOT gateways market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the IoT gateways market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the IoT gateways market report are Dell Inc.; Huawei Technologies Co. Ltd.; Hewlett Packard Enterprise Co.; Cisco Systems Inc.; Texas Instruments Incorporated; STMicroelectronics N.V.; TE Connectivity Ltd.; Eurotech Inc.; NXP Semiconductors; Harman International Industries Inc.; Microchip Technology Inc.; Super Micro Computer Inc.; Advantech Co. Ltd.; Kontron S&T AG; Pepperl+Fuchs Inc.; Banner Engineering Corp.; Samsara Networks Inc.; ADLINK Technology Inc.; Aaeon Technology Inc.; Softing Industrial Automation GmbH; Multi-Tech Systems Inc.; Helium Systems Inc.; Winmate Inc.; Rigado LLC; ClearBlade Inc.
Table of Contents
1. Executive Summary
2. IoT Gateways Market Report Structure
3. IoT Gateways Market Trends And Strategies
4. IoT Gateways Market – Macro Economic Scenario
5. IoT Gateways Market Size And Growth
…..
27. IoT Gateways Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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