The global IoT gateway devices market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). The IoT gateway devices are advanced technology in the telecommunication sector that acts as a communication bridge between IoT sensors and devices. This gateway interconnects multiple devices and systems in a specified manner to transfer data and coordinate operations between the connected devices.
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The emergence of next-generation, 5G networking technology, the rising necessity of data centers owing to the increasing adoption of cloud-based platforms is some factors that are anticipated to drive the growth of the global IoT gateway devices market. The increasing penetration of smart devices with wireless and sensor-based technology and networks and substantially growing demand for connected devices are the major factors that witness lucrative opportunities for the market. Additionally, the growing implementation of IoT and machine to machine (M2M) technologies, rising automation trends, and increasing demand for the higher-bandwidth solution in wireless networking technology among the telecommunication sector are anticipated to drive the growth of the global IoT gateway devices market during the forecast period.
Some market players include Dell Technologies Inc., Advantech Co. Ltd., Cisco Systems Inc., and others have been adopted various strategies to boost the global IoT gateway devices market. Technological advancement, research & development, new product launches, mergers & acquisitions, and product expansion among others are key strategies adopted by key vendors to remain sustained in the market. For instance, in October 2020, NXP Semiconductors N.V. announced a partnership with Au-Zone Technologies, a Canada based IoT Gateway Company, to expand the NXP’s IQ Machine Learning (ML) software development surrounding with easy-to-use ML tools along with the expansion of its offering of silicon-optimized inference engines for Edge ML.
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Market Coverage
- Segment Covered
- Regions Covered- Globally
Competitive Landscape- Dell Technologies Inc., Advantech Co. Ltd., Cisco Systems Inc., Intel Corp., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global IoT Gateway Devices Market Report Segmentation
By Connectivity Technology
- Bluetooth
- Wi-Fi
- Zigbee
- Ethernet
- Z-wave
- Others
By Component
- Microcontroller Unit (MCU)
- Field Programmable Gate Arrays (FPGAs)
- Sensor
- Memory
- Others
By Application
- Wearable Devices
- Healthcare Automotive & Transportation
- Building Automation
- Industrial
- Consumer Electronics
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