The global IoT gateway market is anticipated to grow at a significant CAGR of 17.33% during the forecast period (2022-2028). The advantages provided by IoT in different goods and service sectors show a significant growth of the global IoT gateway market in the coming year.
Manufacturing – IoT gateway provides various opportunities for manufacturing companies. IoT gateway enhances the products to self-process, store data, communicate and interact within the industrial ecosystem. The IoT sensors help in generating data which helps in maintenance and reduce downtime. Moreover, machine learning strengthens productivity and provides additive manufacturing for spare parts to reduce inventory costs. Hence, the broad application of IoT in manufacturing units, bost the growth of the market.
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Agriculture- The IoT positively impacts the agriculture sector in many ways. For instance, wireless IoT sensors provide forecast weather conditions and measure hyper-local conditions of the agriculture fields. As a result, the farmers can easily plan their course of activities. Moreover, IoT provides GPS, real-time yield analysis, and IoT devices that help to monitor crop health.
Oil and Gas- The advanced IoT helps in assisting production process prediction solution, as IoT is based on the data generated from oil and well conditions that enables significant improvement of production, and optimized costs of the production process.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2021-2028
- Segment Covered- by component,by connectivity, by end user
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- ADLINK Technology Inc., Cisco, Intel Corp., Mitsubishi Electric Automation Inc., Texas Instrument, Huawei Technologies Co. Ltd., Lantronix, Inc., and others
Key questions addressed by the report
- What is the market growth rate?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Recovery Timeline
o Deviation from the pre-COVID forecast
o Most affected region/segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global IoT Gateway Market– Segmentation
By Component
- Processor
- Sensor
- Memory and Storage Device
By Connectivity
- Bluetooth
- Wi-Fi
- ZigBee
- Ethernet
- Cellular
By End User
- Automotive and Transportation
- Healthcare
- Industrial
- Consumer Electronics
- BFSI
- Oil and Gas
- Retail
- Aerospace and Defense
