According to Market Research Future (MRFR)’s analysis presented, the global IoT gateways market has been projected to expand at a CAGR of 16.9% during the forecast period 2018 to 2023. The assessment indicates that the market is expected to reach a valuation of USD 15.59 Bn by the end of the review period.
The reliability on connected devices for the growth of an organization is anticipated to drive the growth of the IoT gateways market over the next couple of years. Furthermore, the increasing demand for automation in construction and other end-user industries is forecasted to boost the growth trajectory of the market in the foreseeable future.
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By type, the global IoT gateways market has been segmented into lightly rugged, rugged, compact, and ultra-compact.
By component, the IoT gateways market has been segmented into field programmable gate array (FPGA), microcontroller units (MCU), sensor, memory card, and others.
By connectivity, the global IoT gateways market has been segmented into Bluetooth, Wi-Fi, ZigBee, Ethernet, cellular, and others.
By applications, the IoT gateways market has been segmented into consumer electronics, building automation, automotive and transportation, wearable devices, healthcare, industrial, and others. The others segment encompasses sub-segments such as oil & gas, aerospace & defense, education, agriculture, BFSI, government, and utilities.
By node, the global IoT gateways market has been segmented into smart watch, smart TV, actuator, camera, RADAR, thermostat, and others.
IoT Gateways Market Share, by region, has been segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). North America is anticipated to secure the pole position through the assessment period and scale a decent valuation of USD 5,522.5 Mn towards the end of 2025. The region is equipped with advanced IT infrastructure which has led to an establishment of a competitive edge. This, in turn, is likely to expedite the expansion of the IoT gateways market in the foreseeable future.
Europe is expected to exhibit a similar trend as that of North America’s and grow substantially over the next couple of years. The IoT gateways market in the region is poised to strike a CAGR of 16.8% across the assessment period. Asia Pacific is prognosticated to expand at a relatively higher CAGR of 19% during the forecast period. The growth of the industrial sector in the region is presumed to catapult the IoT gateways market on an upward trajectory.
Some of the major players participating in the global IoT gateways market are Huawei Technologies Co. Ltd. (China), Siemens AG (Germany), Fujitsu Ltd. (Japan), Eurotech SPA (Italy), Cisco Systems, Inc., (U.S.), Sierra Wireless, Inc. (Canada), Hewlett Packard Enterprises Company (U.S.), Mitsubishi Electric Corporation (Japan), NEC Corporation (Japan), Toshiba Corporation (Japan), Lantronix Inc. (U.S.), Dell Technologies (U.S.), and Robert Bosch GmbH (Germany).
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