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.
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.
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.
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.
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.
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.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 383.4 Million |
| Market size forecast in 2028 | USD 596.1 Million |
| Base Year | 2021 |
| 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 |
| Growth Drivers |
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| Restraints |
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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.
By Hardware
By End User
By Geography
The IoT Node and Gateway Market size is projected to reach USD 596.1 Million by 2028.
Increasing Penetration Of 5g Technology All Over The World are driving the market in coming years, however, Concerns Regarding Data Security And Privacy restraints the growth of the market.
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.
The expected CAGR of the IoT Node and Gateway Market is 6.9% from 2022 to 2028.
The Connectivity IC segment acquired maximum revenue share in the Global IoT Node and Gateway Market by Hardware in 2021 thereby, achieving a market value of $216 Million by 2028.
The North America market dominated the Global IoT Node and Gateway Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $227.8 million by 2028.
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