Press release
Global IoT Gateway Devices Market Projected to Surpass $26.22 Billion by 2029 with 15.2% Annual Growth
IoT Gateway Devices Market Size
The surge in the adoption of 5G technology is anticipated to boost the expansion of the IoT gateway devices market in the future. 5G technology, the fifth generation of mobile network connectivity, is a substantial improvement over earlier network generations (2G, 3G, and 4G, or LTE). The transition to 5G technology is propelled by the requirements for higher data speed, reduced latency, and the need for expanded network capacity to cater to the ballooning needs of IoT, streaming services, and burgeoning technologies like autonomous vehicles and intelligent urban environments. IoT gateway devices are utilized by 5G technology to provide extreme high-speed, low-latency connections for an array of IoT devices, ensuring smooth interaction, information transfer, and the dissemination of intelligent applications across different industries. For instance, in April 2023, 5G Americas, a US-based industrial trade association, reported a notable 76% surge in global 5G wireless connections from the end of 2021 to the end of 2022, hitting a total of 1.05 billion connections. It is expected to cross the threshold of 5.9 billion by the end of 2027. Thus, the rising uptake of 5G technology is fuelling the advancement of the IoT gateway devices market in the coming years.
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What is the future CAGR of the iot gateway devices market, and how will it impact industry expansion?
There has been a swift expansion in the market size of IoT gateway devices over the recent years. The prediction is that this growth will elevate the market size from $12.86 billion in 2024 to $14.86 billion in 2025, representing a compound annual growth rate (CAGR) of 15.6%. The surge observed in the historic period is largely due to factors such as amplified application in the healthcare sector, a rise in the number of connected devices, broadening of the broadband infrastructure, the adoption of cloud computing, and the transformation of the digital economy.
The market size for IoT gateway devices is poised to experience significant expansion in the forthcoming years, with a projection to reach $26.22 billion in 2029 at a compound annual growth rate (CAGR) of 15.2%. This expansion in the forecast period can be traced back to the substantial proliferation of smart wearables, an increased adoption of IoT within the healthcare sector, the escalating trend of industrial automation, rising investment towards IoT application, and the advertising push for 5G technology. Key trends expected throughout the forecast period encompass advancements in connection technologies, escalating application of AI, upgrades in communication across assorted platforms and devices, edge data processing and decision-making, coupled with the integration of edge computing.
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What are the most significant trends transforming the iot gateway devices market today?
Leading firms in the IoT gateway devices market are pioneering new products, such as aircraft IoT gateways, which offer real-time tracking and supervision of cargo. These specific devices or systems, installed on planes, enable data gathering, connectivity, and communication among various internal systems and external networks. For example, OnAsset Intelligence Inc., an American firm specializing in supply chain asset management, introduced the Sentry 600 FlightSafe device in March 2024, marking the debut of a dedicated aircraft IoT gateway. This revolutionary gateway transforms planes into virtually connected storehouses, assisting immediate scrutiny and monitoring of cargo hold and passenger cabin conditions. It incorporates features that detect real-time location of sensor-equipped cargo, galley carts, and other aircraft assets. The data collected by the gateway is then seamlessly directed to the OnAsset Insight Cloud, empowering staff members to use dashboards, set up rules and alerts, and combine data through API functions for constant analysis. Consequently, this enhances operational efficiency, reduces downtime, and bolsters safety and security protocols for parked aircraft.
Which key market segments comprise the iot gateway devices market and drive its revenue growth?
The IoT gateway devices market covered in this report is segmented -
1) By Type: Consumer Internet Of Things (IoT) Gateway, Industrial Or Commercial Internet Of Things (IoT) Gateway
2) By Component: Microcontroller Unit (MCU), Field Programmable Gate Arrays (FPGAs), Sensor, Memory, Other Components
3) By Connectivity Technology: Bluetooth, Wi-Fi, Zigbee, Ethernet, Z-Wave, Other Connectivity Technologies
4) 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
Subsegments:
1) By Consumer Internet Of Things (Iot) Gateway: Smart Home Gateways, Wearable Device Gateways, Health And Fitness Device Gateways, Smart Appliance Gateways, Personal Assistant Gateways
2) By Industrial Or Commercial Internet Of Things (Iot) Gateway: Industrial Automation Gateways, Smart City Gateways, Connected Vehicles Gateways, Smart Metering Gateways, Commercial Building Automation Gateways
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What regions are at the forefront of iot gateway devices market expansion?
North America was the largest region in the IoT gateway devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the IoT gateway devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the iot gateway devices market?
Major companies operating in the IoT gateway devices market report are Dell Inc.; Huawei Technologies Co. Ltd.; Intel Corporation Ltd.; Cisco Systems Inc.; Hewlett Packard Enterprise Company; Texas Instruments Incorporated; TE Connectivity Ltd.; STMicroelectronics N.V.; NXP Semiconductors N.V.; Microchip Technology Inc.; Advantech Co. Ltd.; Kontron S&T AG; Pepperl+Fuchs SE; Samsara Networks Inc.; ADLINK Technology Inc.; Aaeon Technology Inc.; NEXCOM International Co. Ltd.; Axiomtek Co. Ltd.; Lantronix Inc.; Eurotech S.p.A.; Winmate Inc.; Laird Connectivity LLC; Neousys Technology Inc.
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What Is Covered In The IoT Gateway Devices Global Market Report?
•Market Size Forecast: Examine the iot gateway devices market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the iot gateway devices market for a structured understanding.
•Key Players Overview: Analyze major players in the iot gateway devices market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the iot gateway devices market.
•Segment Contributions: Evaluate how different segments drive overall growth in the iot gateway devices market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the iot gateway devices market.
•Industry Challenges: Identify potential risks and obstacles affecting the iot gateway devices market.
•Competitive Landscape: Review strategic developments in the iot gateway devices market, including expansions, agreements, and new product launches.
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