Press release
Future of the IoT Gateway Devices Market: Trends, Innovations, and Key Forecasts Through 2034
IoT Gateway Devices Market Size
IoT Gateway Devices Market Size Growth Forecast: What to Expect by 2025?
The market size for IoT gateway devices has seen swift expansion in the past few years. It is projected to escalate from $12.86 billion in 2024 to $14.86 billion in 2025, boasting a compound annual growth rate (CAGR) of 15.6%. The surge during the traditional period can be traced back to the expansion in the healthcare industry applications, the proliferation of connected devices, the development of broadband infrastructure, the uptake of cloud computing technology, and the transformation of the digital economy.
How Will the IoT Gateway Devices Market Size Evolve and Grow by 2029?
The market size of IoT gateway devices is projected to experience a swift expansion in the coming years, with an expected value of $26.22 billion in 2029 and a compound annual growth rate (CAGR) of 15.2%. This anticipated growth during the forecast period could be due to the wide-range adoption of smart wearables, increased use of IoT in the healthcare industry, proliferation of industrial automation, rising investments in IoT deployment, and the growing appeal for 5G technology. As for the significant trends in the forecast period, they comprise improvements in connection technologies, increased utilization of AI, advancements in communication across diverse platforms and devices, decision-making and processing of edge data, and the integration of edge computing.
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What Drivers Are Propelling the Growth of IoT Gateway Devices Market Forward?
The surge in acceptance of 5G technology is set to stimulate the expansion of the IoT gateway devices market. 5G technology is the fifth generation of mobile networks, outperforming its predecessors in various ways such as speed, latency, and network capacity. The enhancement provided by 5G finds its impetus in the necessity for higher speeds, reduced latency, and a larger network capacity to cater to the mounting requirements of IoT, streaming services, and emerging technologies like autonomous vehicles and smart cities. IoT gateway devices are instrumental in implementing 5G technology, delivering lightning-fast, low-latency links for multiple IoT devices while enabling seamless communication, data sharing, and the spread of smart applications across many sectors. An example is seen in April 2023, as per 5G Americas, a trade organization based in the US. It states that the number of worldwide 5G wireless connections saw a tremendous 76% surge from the end of 2021 to the end of 2022, totaling 1.05 billion connections. This number is estimated to surpass 5.9 billion by the end of 2027. Thus, the burgeoning adoption of 5G technology is a key driver for the expansion of the IoT gateway devices market in the future.
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Which Emerging Trends Are Transforming the IoT Gateway Devices Market in 2025?
Leading companies in the IoT gateway devices market are coming up with novel products like aircraft IoT gateways; these provide real-time tracking and monitoring of cargo. These are special devices or systems fitted on aircraft that facilitate data gathering, connectivity, and communication between various onboard systems and external networks. For example, in March 2024, OnAsset Intelligence Inc., a company based in the US that specializes in supply chain asset management, unveiled the Sentry 600 FlightSafe device. This device is the first-ever dedicated aircraft IoT gateway. This gateway transforms how aircraft function by changing them into virtually connected warehouses. This facilitates instant tracking and monitoring of conditions in the cargo hold and cabin. The capabilities of the device include real-time detection of sensor-equipped shipments, galley carts, and other assets found on aircraft. The data from the gateway automatically moves to the OnAsset Insight Cloud. This allows staff to use dashboards, set up rules and alerts, and incorporate data using API functions for ongoing analysis. Consequently, operational efficiency improves, downtime reduces, and safety and security measures for parked aircraft are strengthened.
What Are the Key Segments in the IoT Gateway Devices Market?
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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Who Are the Key Players Shaping the IoT Gateway Devices Market's Competitive Landscape?
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.
What Geographic Markets Are Powering Growth in the IoT Gateway Devices Market?
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.
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