IoT Gateways Market Dynamics, Growth Factors, Major Companies Analysis and Forecast- 2023
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Internet of Things (IoT) Gateways Market, Gateway Type (Lightly Rugged, Rugged, Compact, Ultra Compact), Connectivity Type (ZigBee, Wi-Fi, Ethernet, Bluetooth), Industry (Retail, Agriculture, Oil & Gas, Transportation) - Forecast 2023 --
In this rapidly changing world of technology, the major driving forces for the growth of Iot Gateways Market are rising need to achieve competitive advantages, new technical advancements in industrial IoT gateways and increased amount of data generation due to IoT.
In the IoT ecosystem, automotive and transportation would have good prospects in the future. The data is collated from various sensors such as fiber optic cables and CCTV cameras, and the analytics of the real-time data is performed by back-end systems; taking into consideration the past data trends, future plans can be developed for the improvement of the traffic system. The power industry uses IoT for collecting data through advanced metering infrastructure and supervisory control and data acquisition (SCADA) systems to achieve optimized operations
The IoT gateways market is growing rapidly over 14% of CAGR and is expected to reach at approx. USD 9 billion by the end of forecast period.
o Eurotech (Italy), Samsara (U.S.)
o Hewlett Packard Enterprise Company (U.S.)
o Cisco Systems, Inc. (U.S.)
o Huawei Technologies Co. Ltd. (China)
o Sierra Wireless (Canada)
o Bitrective AS (Norway)
o Advantech Corporation (Taiwan)
o Advantech B+B Smartworx (U.S.)
o Volansys Technologies Pvt. Ltd. (U.S.)
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IoT Gateways Market Segmentation
The IoT gateways market has been segmented on the basis of gateway type, connectivity type, industry and regional. In the IoT gateways market segmentation, gateway type comprises of lightly rugged, rugged, compact and ultra-compact. In transportation, internet of things applications helps improve transport utilization and road safety with the convergence of real-time road traffic data. The data is collected from various sensors such as fiber optic cables and CCTV camseras, and the analytics of the real-time data is performed by back-end systems.
Market Research Analysis:
The regional analysis of IoT gateways market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. North American region is expected to hold the highest share of IoT gateways market owing to factors like increased research and development in the IoT areas and also the North America being the home for technology giants in the IoT market like General Motors, Cisco Systems among others.
Increasing use of wireless sensors and networks, and cloud computing becoming mainstream. The study reveals that Asia-Pacific region is expected to have a significant growth in IoT gateways market in the forecast period. Factors such as continuous growth in the urban population in many countries, and government incentives in countries such as China, Singapore, and Japan are driving the IoT gateways market in the Asia-Pacific region.
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Japan is a highly-developed economy with one of the fastest-growing telecom industries. Japan is known for its continual R&D in technologies; therefore, it is expected that some of the game-changing devices or technologies would emerge from the Japanese market.
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Release ID: 204281
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