New York, US, Nov. 17, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “IoT Gateways Market Information: by Type, Component, Connectivity, Application, Node, and Region – Global Forecast Till 2030”, states that the global IoT gateways market is poised to garner 2480.6 MN by 2030, expanding at a 16.57% CAGR throughout the review period (2020-2030).
Global IoT Gateways Market Overview
The IoT gateways market is growing rapidly due to the rising demand for better internet networks. Besides, increasing implementations of advanced technology to improve communication networks positively impact market growth. An IoT gateway solution connects sensors, IoT modules, and smart devices to the cloud, enabling communication between different protocols and devices. IoT gateways can be physical or virtual platforms that serve as a wireless access portal to give IoT devices access to the Internet. Growing needs for Smart factories and remote equipment management & maintenance influence the market dynamics.
In addition to independently regulating field devices based on the sensor's data input, IoT gateway devices can facilitate sophisticated technology like edge computing. Most IoT gateway devices are used in a network to gather collective data. IoT gateway then pre-processes, cleans, and filters raw data before sending it to the cloud. The growing demand for cyber immune products among organizations embracing digital transformation substantiates the market growth.
Players leading the global IoT gateways market includes,
- Hewlett Packard Enterprise Company (US)
- Cisco Systems Inc. (US)
- Advantech B+B Smartworx (US)
- Huawei Technologies Co. Ltd. (China)
- Bitrective AS (Norway)
- Eurotech (Italy)
- Sierra Wireless (Canada)
- Volansys Technologies Pvt. Ltd. (US)
- and Advantech Corporation (Taiwan)
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IoT gateway solutions help organizations accelerate business value from new streams of industrial data by securely connecting IoT devices and controllers with business applications & cloud platforms. It also translates protocols for better communication and encryption and sends data to an internet or intranet target. Although IoT gateways reduce the overall risk of hacking, reducing the total number of internet connections, it is still vulnerable to being hacked.
As gateways sit between connected devices and the cloud, they become the first line of defense and a prime target for hackers. IoT gateways must trust digital identities, strong PKI-based authentication, and encryption technology to protect the entire IoT ecosystem. Strong gateway cybersecurity is critical to secure every communication device in the IoT ecosystem end-to-end. A public key infrastructure (PKI) secures gateway devices and the IoT ecosystem with confidentiality and authentication.
An IoT Gateway has also become indispensable in providing computational power in edge computing scenarios. Many businesses have been at risk due to the expansion of the Internet of Things (IoT), integrating multiple devices and protocols. IoT gateways are used in various projects, including home security, smart farming, industrial security & safety, motion detection, ingestible sensors, AR glasses, and others.
IoT Gateways Market Report Scope:
| Report Metrics | Details |
| IoT Gateways Market Size by 2030 | USD 2480.6 Million |
| IoT Gateways Market CAGR during 2020-2030 | 16.57% |
| Base Year | 2019 |
| Forecast | 2020-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | Continuous development in the industry offers attractive functionalities to the end-users |
| Key Market Drivers | The rising number of connected devices throughout the industrial sectors has been the huge driving factor for the IoT gateways market demand. |
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IoT Gateways Market Segments
The IoT gateway market forecast is segmented into types, components, nodes, connectivity, applications, end-use sectors, and regions. The type segment is sub-segmented into lightly rugged, rugged, compact, and ultra-compact. The component segment is sub-segmented into field-programmable gate array (FPGA), microcontroller units (MCU), sensors, memory cards, and others.
The connectivity segment is sub-segmented into Bluetooth, WI-Fi, ZigBee, Ethernet, Cellular, and others. The applications segment is sub-segmented into consumer electronics, building automation, automotive & transportation, wearable devices, and others. The end-use sector segment is sub-segmented into healthcare, industrial, oil & gas, aerospace, defense, education, agriculture, BFSI, government, and others.
The node segment is sub-segmented into smart watches, smart TVs, actuators, cameras, radars, thermostats, and others. The region segment is sub-segmented into the MEA, Americas, Europe, Asia-Pacific, and the rest of the world.
IoT Gateways Market Regional Analysis
North America dominates the global IoT gateways market. The market growth attributes to technological advancements and opportunities in various sectors. Besides, the developed network infrastructure and increasing IP security space in the region drive the growth of the market. The rapid adoption of cloud and mobile applications in BFSI, healthcare, wearable, consumer electronics, and other sectors pushes regional market growth.
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Europe stands second in the global IoT gateways market. The market growth is fostered by the increasing uptake of IoT node & gateway solutions in government establishments like cyber authorities and policies to protect confidential data. Moreover, the growing adoption of cloud-based services by small and large organizations fosters regional market growth.
The Asia Pacific IoT gateways market is growing rapidly. Factors such as the increasing improvements in IoT network structure and the rising adoption of IoT gateways in increasing numbers of enterprises to enhance network structure boost regional market growth. Additionally, the rising demand for IoT gateway solutions from the banking & financial services, media & entertainment, and manufacturing sectors increases the market size.
Competitive Analysis
Highly competitive, the IoT gateways market appears fragmented due to the presence of several well-established players. Leading providers look for partners with complementary strengths and can allow integrated products for their embedded sensor technologies that can be used in multiple market verticals.
Leading IoT gateway solution providers strive to secure turnkey solutions for IIoT and Intelligent IT, demonstrating centralized device management capabilities. To gain a larger competitive advantage, industry players initiate strategic approaches, such as mergers & acquisitions, collaborations, expansion, and product/ technology launches.
For instance, on Nov.11, 2022, OneWeb, a leading satellite connectivity provider and a joint venture of the British government and India's Bharti Global announced signing a multi-year agreement with Paratus Systems (India), a leading IT services provider, to build a satellite gateway services in Luanda, Angola.
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The gateway will provide low-Earth orbit (LEO) satellite services to several African countries, facilitating high-speed, low-latency connectivity supply to various organizations. The Luanda project is the first of several planned OneWeb gateways projects. Paratus recently launched a fiber connection in the Democratic Republic of Congo and inaugurated data centers in Zambia and Namibia.
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