Global IoT Node and Gateway Market Size, Share & Industry Trends Analysis Report By Hardware (Connectivity IC, Processor, Sensor, Memory Device and Logic Device), By End User, By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the IoT Node and Gateway Market
Market Report Description
The Global IoT Node and Gateway Market size is expected to reach $596.1 Million by 2028, rising at a market growth of 6.9% CAGR during the forecast period.
The security and filtering of data, protocol conversion, processing, connecting devices, and other critical duties are all carried out by an IoT node and gateway hardware and software. It serves as a junction for them because many peripheral systems comprise devices, controllers, sensors, and the cloud. By using IoT nodes and gateways, extra storage, security, and processing services are thereby offered to the end nodes at a level that is both cost- and power-effective.
Additionally, several communication methods are employed to enable nodes to communicate with one another within the network. As a result, they find use in a variety of end uses, including consumer electronics, retail, oil & gas, automotive, agriculture, BFSI, transportation, healthcare, and other industries. To enable connection with networks of several IoT sensors, IoT nodes and gateways are utilized.
It takes advantage of the installed sensor nodes based on the WiFi, Bluetooth, Zigbee, LoRA, and 6LoWPAN protocols. Using data encryption techniques and security certifications (SSL/TSL), IoT nodes and gateways enable secure IoT. Hardware security for IoT gateway devices is provided by the Trusted Platform Module (TPM) as well as Trusted Execution Environment (TEE).
IoT node and gateway technology provides ramp-IP/ramp-down of IoT sensor networks and is scalable, affordable, and simple to deploy, and configure. All IoT device settings and configurations are kept in the memory of the gateway device. Device security, strong data protection, and network security are all provided by the IoT gateway.
Crypto authentication chips are used in the gateway hardware to implement device identification and device security so that the IoT gateway does not boot from unapproved firmware, hence enhancing security. In order to reduce the cost of data transfer and the processing power required by applications, the IoT gateway has the intelligence to review and determine which data needs to be cached and which data needs to be delivered over the network for processing.
COVID-19 Impact Analysis
The IoT node and gateway market were negatively impacted by COVID-19 as a result of businesses cutting back on their investments in cutting-edge products and services to remain competitive. However, The COVID-19 outbreak has had a substantial impact on the global IoT node and gateway market. Owing to workers staying at home and the inability of existing devices in various warehouses to be transported due to present rules and regulations, the manufacturers have struggled to produce and assemble novel IoT nodes and gateways, which has disrupted the supply chains across the world.
Market Growth Factors
Increasing Penetration Of 5g Technology All Over The World
In industrialized nations, the proportion of people who use the Internet has significantly increased over the past 10 to 15 years. The IoT sector is anticipated to benefit from the future rollout of 5G, the fifth generation of mobile communications. This is basically because 5G networks would significantly boost the functionality and dependability of these connected devices. A faster, more capable network that can meet connectivity needs would be provided by 5G.
Increasing Government Support And Initiatives In Research And Development Of The Iot Technology
A key factor in the development of any new technology or product, research and development activities play a key role in accelerating its introduction of it. There is an increase in the number of research and development activities all over the world in the sector of IoT technology. Moreover, governments are also contributing their part in order to accelerate the process. To increase their productivity, governments all over the world are supporting and sponsoring IoT research and development.
Marketing Restraining Factor:
Concerns Regarding Data Security And Privacy
IoT has enormous potential since it is being adopted at a rapid rate across all end-use industries, including wearables, healthcare, and retail. Data security and privacy concerns, however, are significant business barriers. A significant amount of data is being produced as the number of connected devices grows along with the adoption of IoT in end-use applications. Cybercriminals are able to break into networks and utilize this information to track the behavior of a company's strategy, evaluate a person's health status, and more.
Based on hardware, the IoT Node and Gateway Market is segregated into Processor, Sensor, Connectivity IC, Memory Device, and Logic Device. In 2021, the processor segment garnered a significant revenue share of the IoT node and gateway market. The rise in the growth of the segment is primarily ascribed to the high significance of processors in the operation of the system. The logic circuitry that reacts to and processes the fundamental commands that power a machine is its processor.
End User Outlook
By End-Use Application, the IoT Node and Gateway Market is segmented into Consumer Electronics, Automotive & Transportation, Healthcare, Retail, Building Automation, Manufacturing, BFSI, Oil & Gas, and Others. In 2021, the retail segment emerged as the fastest growing segment of the IoT node and gateway market. The usage of IoT in the retail sector is closely linked to RFID and GPS technology, which assist firms in tracking products along with the supply chain. It provides retailers with the transparency they need to keep an eye on goods movement, conditions, and location while also predicting an exact delivery time.
|Market size value in 2021||USD 383.4 Million|
|Market size forecast in 2028||USD 596.1 Million|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 6.9% from 2022 to 2028|
|Number of Pages||235|
|Number of Tables||340|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Hardware, End-Use, Application, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region-Wise, the IoT Node and Gateway Market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2021, Asia-pacific accounted for the biggest revenue share of the IoT node and gateway market. Some of the important factors supporting the growth of the regional market include the increasing internet penetration in business and residential spaces, the wide consumer base, rising disposable income, as well as improving IT infrastructure.
Free Valuable Insights: Global IoT Node and Gateway Market size to reach USD 596.1 Million by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., Hewlett-Packard Enterprise Company, Dell Technologies, Inc., Intel Corporation, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Texas Instruments, Inc., NXP Semiconductors N.V., Microchip Technology, Inc., Advantech Co., Ltd., and TE Connectivity Ltd.
Strategies deployed in IoT Node and Gateway Market
- Jul-2022: Advantech released a new joint solution with Actility, a leader in IoT network management. With this launch, the companies aimed to enable the deployment and management of private LoRaWAN networks within customer premises by integrating the ruggedized and advanced IPC of Advantech into Actility's embedded software. In addition, this integration would fulfill the demands of customers within the fast-growing industrial automation market.
- Oct-2021: Dell unveiled MC Edge Gateway and Satellite nodes, two new edge innovations in its PC and infrastructure offerings. With this launch, the company aimed to help businesses in streamlining deployments while also acquiring more value via data generated and processed outside the conventional public cloud and data center.
- Jun-2021: Cisco rolled out a range of Catalyst industrial routers, featuring 5G capabilities. Through this product launch, the company aimed to extend the capabilities of the enterprise network to the edge through security, flexibility, and scalability. Moreover, the new product range would allow businesses to conduct connected operations at scale along with the choice of management tools.
- Jun-2021: Advantech Europe rolled out the WISE-1510-DOM DeviceOn Module, a novel certified wireless module. The new product aimed to aid in expediting the adoption of custom as well as semi-custom sensor nodes.
- Feb-2021: Microchip introduced the LAN9360, the first hardware-based audio endpoint solution of the company. The new product aimed to interoperate infotainment devices of vehicles with the Ethernet AVB.
- Oct-2020: Microchip unveiled its first-ever Wi-Fi microcontroller module. The new product comprises Microchip’s Trust&GO-enabled verifiable and unique identity and aimed to offer a hardcoded, trustable, and verifiable identity to safely connect to the cloud.
- Oct-2020: Microchip launched AVR DB MCU and PIC18-Q41. The new product lines aimed to offer increased efficiency and convenience in operating within a single design environment through the combination of multi-voltage operation and advanced analog peripherals.
- Oct-2020: Microchip completed its acquisition of LegUp Computing, a startup based in Toronto. Under this acquisition, the company aimed to expand its FPGA-based edge compute solution stack through the addition of a high-level synthesis tool of LegUp. Furthermore, this acquisition would also offer the ability to Microchip's traditional Microchip MCU and MPU customers to leverage FPGAs as accelerators via a simple compiler.
- Mar-2020: Microchip rolled out its full-stack embedded development solutions. With this launch, the company aimed to enable developers to simply connect to any significant core and major cloud through Bluetooth, Wi-Fi, or narrow band 5G technologies.
- Feb-2020: Intel joined hands with Sinclair, a publicly traded American telecommunications conglomerate. Following this collaboration, Intel aimed to help Sinclair to offer the next-generation connected guest experience to hotel guests and staff via location-based analytics.
- Aug-2018: Dell's Edge and IoT Solutions unit launched new solutions and bundles. Through this launch, the company aimed to streamline the adoption and implementation of scalable and secure solutions for IoT applications and edge computing.
Scope of the Study
Market Segments Covered in the Report:
- Connectivity IC
- Memory Device
- Logic Device
By End User
- Consumer Electronics
- Automotive & Transportation
- Building Automation
- Oil & Gas
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Cisco Systems, Inc.
- Hewlett-Packard Enterprise Company
- Dell Technologies, Inc.
- Intel Corporation
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- Texas Instruments, Inc.
- NXP Semiconductors N.V.
- Microchip Technology, Inc.
- Advantech Co., Ltd.
- TE Connectivity Ltd.
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