The IoT node and gateway market, in terms of volume, is projected to reach 17.18 billion units by 2023, growing at a CAGR of 30.9% from 2017 to 2023.
How emerging smart cities will create opportunities for players in the IoT node and gateway market?
The IoT infrastructure in smart cities is required to handle devices and objects connected through any connectivity method. The IoT node and gateway acts as a layer between the edge-device and internet and provides protocol translation. Many cities are now looking to expand the use of IoT to improve services such as waste management, water management and quality, and energy consumption in public buildings.
Moreover, the use of contextual analysis to provide real-time information to citizens and authorities are growing in popularity. According to the internal repository of MarketsandMarkets, the smart city market is estimated to grow from USD 312.03 billion in 2015 to USD 757.74 billion by 2020. This tremendous growth offers a lucrative market for IoT hardware components such as sensors, connectivity ICs, memory devices, which would be used in the edge devices and gateways.
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How is high power consumption by wireless sensor terminals and connected devices posing challenges to IoT node and gateway market players?
In IoT, sensors and other peripherals are significant power users. Although technologies such as ultra-low-power processors, tiny mobile sensors, and wireless networking solutions are available, there is a need for IoT devices for efficient power management and optical power consumption. Connectivity load would be another critical challenge since numerous devices need to be connected at the same time. For instance, the average smart home may contain 50–100 connected appliances, lights, thermostats, and other devices, each with its own power requirements. Equipment such as smart meters would be used to make the line power efficient. As a frequent manual replacement of the batteries of thousands of sensors, actuators, and other connected devices within IoT systems is not feasible, the main hurdle is the power management of devices using wireless technologies such as Wi-Fi.
Although semiconductor manufacturers are already working toward producing ultra-low-power chips and modules, there is still a challenge for innovation in battery technology and power management of portable and wearable electronics.
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