Press release
IoT Node and Gateway Market Projected to reach $566.4 billion by 2027
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Connectivity IC segment to account for the largest share of IoT node and gateway market during the forecast period
On the basis of Hardware, the IoT node and gateway market has been segmented into processor, sensor, connectivity IC, memory device, and logic device. the connectivity IC segment held the largest share of the overall IoT node and gateway market, in terms of volume. 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 factors supporting the growth of the connectivity IC segment.
Consumer application to account for the largest share of IoT node and gateway market during the forecast period
Based on end-use application, the IoT node and gateway market has been segmented into industrial and consumer. Consumer application held the largest share of the overall IoT node and gateway market to during the forecast period. With the evolution of a number of consumer appliances that can connect to the Internet and smartphones, the growth of IoT technology in the consumer electronics segment is expected to receive a boost.
APAC is expected to register the highest growth of IoT node and gateway market during the forecast period
APAC is expected to register the highest growth in the IoT node and gateway market during the forecast period from 2021 to 2027. The growing penetration of the internet across commercial as well as residential spaces, broad consumer base, increasing disposable income, and improving IT infrastructure are some of the key determinants supplementing the growth of the IoT node and gateway market in APAC. Moreover, the adoption of cloud-based services and rising trend of industrial automation are the key growth drivers for the IoT node and gateway market for commercial applications in countries such as China, South Korea, and Japan.
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Major players operating in the IoT node and gateway market are Intel Corporation, Huawei Technologies Co., Ltd., NXP Semiconductor N.V., Texas Instruments Incorporated, Cisco Systems, Inc., Hewlett Packard Enterprise, TE Connectivity Ltd., Advantech Co. Ltd., Dell Technologies, Microchip Technology Inc., Notion, Helium System Inc., Samsara Networks Inc., Beep Inc., Estimote Inc., Aaeon Technology Inc., Nexcom International Co. Ltd., STMicroelectronics N.V., Eurotech S.P.A, Adlink Technology Inc., Volansys Technologies, Embitel Technologies, Mitsubishi Electric Corporation, Lantronix, Inc., and Cradlepoint, Inc., and so on.
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