Internet of Things (IoT) Gateways Market Size, Key Players Analysis, Business Growth, Regional Trends, Development Status, Sales Revenue and Comprehensive Research Study Till 2023

“Internet of Things (IoT) Gateways Market”
The report on the global Internet of Things (IoT) Gateways Market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player’s market share analysis, competitive landscape and supply chain analysis.

Market Highlights:

The global IoT gateways market can anticipate an exponential growth with 16.9% CAGR and reach a market valuation of USD 15.59 billion during the forecast period (2018-2023). Fast transforming industrial scenario requires faster connectivity. This gives rise to a demand for an interface that would connect all devices in a network and enable better communication. Hence, the need for Internet of things (IoT) which helps users with access to control of multiple functions such as scalability, fault tolerance, and power consumption of nodes & transceivers for smooth data flow. With IoT’s turning intelligent by getting embedded controls, it has started reducing the complexity and cost of endpoints, which has cemented its place in healthcare and other industry verticals.

Connected devices have infiltrated sectors such as business organizations and lifestyle profoundly. Its impact is so high that the ecosystem around these sectors is now thriving at an unprecedented rate. Integration of IoT gateways in smart buildings is increasing significantly and sectors such as automotive, healthcare and utilities can expect better leverage.

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Major Key Players:

  • Samsara (U.S.),
  • Hewlett Packard Enterprise Company (U.S.),
  • Cisco Systems, Inc. (U.S.),
  • Huawei Technologies Co. Ltd. (China),
  • Advantech B+B Smartworx (U.S.),
  • Bitrective AS (Norway),
  • Advantech Corporation (Taiwan),
  • Eurotech (Italy),
  • Sierra Wireless (Canada),
  • Volansys Technologies Pvt. Ltd. (U.S.)

According to MRFR, The global IoT gateways market is expected to grow at approx. USD 9 Billion by 2023, at 14% of CAGR between 2017 and 2023.

Competitive Market Analysis:

The intensely competitive market banks on strategic implementations such as merger, collaboration, acquisition, new product launch, and others. These tactics have kept players engaged. Hewlett Packard Enterprises Company’s collaboration with ABB Ltd. and Tata Communications can give the company further  market penetration. On the other hand, Bosch Rexroth, a subsidiary of Robert Bosch acquired Hytec Holdings (Pty.)  Ltd, to extend their business to Africa.

Segmentation Analysis:

By type, the IoT gateways segment can be segmented into lightly rugged, rugged, compact, and ultra-compact. Compact segment has the largest market share with a current worth of USD 2,281.4 million, and during the forecast period, it could go up to USD 6,035.3 million with the highest CAGR of 18.1%. Rugged follows next, both in terms of market value and CAGR where it can reach USD 5,004.7 million with 17.1% growth rate.

Component-wise, the IoT gateways market can be segmented into microcontroller unit (MCU), Field Programmable Gate Array (FPGA), sensor, memory cards, and others. Sensor market would dominate forthcoming years with a CAGR of 18.2% and reach a valuation of USD 5,232.5 million from the previous estimation of USD 1,971 million. FPGA, with a projected 17% CAGR could reach a market valuation of USD 4,326.6 million and retain its second spot.

Based on connectivity, the IoT gateways market can be segmented into Bluetooth, wi-fi, ZigBee, ethernet, cellular, and others. Bluetooth will take over the current lead of wi-fi by a considerable margin. Its expected CAGR of 18.4% would take it from USD 1,458.2 million to USD 3,922.9 million. However, highest CAGR during the forecast period will be of ZigBee where it can fetch a CAGR of 18.7%.

Application-wise, the IoT gateways market can be segmented into wearable devices, healthcare, automotive & transportation, building automation, industrial, consumer electronics and others. Automotive & transportation would take over the lead from industrial with an expected market valuation of USD 3,474.1 million. However, wearable devices would lead the market with the maximum CAGR of 19.9% during the review period. Automotive & transportation can have the second best CAGR of 19.1% during the forecast period.

By node, the IoT gateways market includes smartwatch, camera, radio detection & ranging (RADAR), thermostat, actuator, smart TV, and others.

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Regional Analysis:

Geographically, the IoT gateways market spans across regions namely North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

North America currently leads the market with an estimated value of USD 2,397.8 million and the scenario is expected to remain so with the regions anticipated climb to a valuation of USD 5,522.5 million. Its state-of-the-art infrastructure can take the credit of its superior positioning. Various industries are implementing the technology and investing substantially in hope to gain much. At the same time, people in the region, are prone to adapt a superior lifestyle which gives the region further boost and the CAGR during the review period could go up to 15.4%.

Europe’s status in the market based on features is almost similar to that of North America and with a CAGR of 16.8%, the regional market could escalate to USD 3,882.1 million valuation. However, the APAC is anticipated to register the maximum CAGR of 19%, considerably higher than its peers. This can be attributed to a burgeoning industrial sector that is witnessing exclusive growth and could help compete with North America neck-to-neck. By 2023, the APAC could climb up to USD 5,471.7 million valuation.

Intended Audience

  • Technology investors
  • Startup companies
  • Consumer wearable manufacturers
  • Research/Consultancy firms
  • Private Equity groups

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