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on October 4, 2023
IoT Gateways Market: Market Overview and Key Segments
The Internet of Things (IoT) gateways market has seen rapid growth in recent years, driven by the rise of connected devices and the need to connect legacy systems to the cloud. IoT gateways act as a bridge between devices and the cloud, providing connectivity, protocol translation, security, and data filtering. According to MRFR The IoT Gateways market size is projected to grow from USD 1398.4 Million in 2022 to USD 3400.4 Million by 2030, exhibiting a compound annual growth rate (CAGR) of 13.53% during the forecast period (2022 - 2030).
Some of the key segments in the IoT gateways market include:
- By Connectivity: Cellular, Wi-Fi, Bluetooth, Zigbee, Ethernet, and more. Cellular connectivity accounts for the largest market share, driven by the need for ubiquitous and reliable connections.
- By Application: Wearable devices, consumer electronics, healthcare, automotive & transportation, building automation, and industrial. Consumer electronics represent the biggest application area currently.
- By Component: MCU, FPGA, Sensor, Memory, and others. MCUs hold the largest market share due to their widespread use.
- By Geography: North America, Europe, APAC, Latin America, and MEA. North America holds the largest market share presently, led by the U.S.
Key Players in the IoT Gateways Industry
Some of the major players operating in the IoT gateways market include:
- Intel Corporation
- Microsoft Corporation
- Dell Technologies Inc.
- Cisco Systems Inc.
- Hewlett Packard Enterprise
- Huawei Technologies Co. Ltd.
- Google LLC
- Oracle Corporation
- Amazon Web Services
These companies are continuously innovating with newer connectivity technologies, advanced security features, partner ecosystem expansion, and acquisitions to increase their market shares and differentiate their offerings.
Market Drivers and Regional Insights
The IoT gateways market is driven by several factors such as:
- Growth in connected devices and M2M connections across industries
- Need for protocol translation between legacy systems and cloud
- Increased data generation at the edge requiring analysis
- Demand for secure device and data management
- Rising adoption of cloud computing
Geographically, North America was the largest region in 2020. Increased IoT adoption across sectors such as transportation, healthcare, manufacturing, and retail is driving North America’s market share. In Europe, the presence of automotive, pharmaceuticals, and semiconductor firms is propelling market growth. Asia Pacific is anticipated to grow at the fastest rate due to rising industrial IoT and consumer electronics industries.
Browse In-depth Market Research Report (135 Pages, Charts, Tables, Figures) on IoT Gateways Market -
https://www.marketresearchfuture.com/reports/iot-gateways-market-2956
Recent Developments
Recent developments in the IoT gateways market include:
- In May 2022, Microsoft launched Azure IoT Gateway SDK to simplify IoT device connectivity to Azure.
- In June 2022, Cisco introduced new IoT gateways with 5G and WiFi connectivity.
- In September 2022, Google Cloud acquired Intrinsic, an industrial IoT software platform.
- In November 2022, Amazon Web Services announced AWS IoT Gateway, allowing bidirectional communication with edge devices.
The IoT gateways market outlook remains positive, buoyed by increasing IoT adoption across industries. Key players are ramping up investments to enable organizations to securely scale IoT device deployments and harness data insights. Going forward, cellular and 5G connectivity will be key focus areas.
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