Pune, May 09, 2023 (GLOBE NEWSWIRE) -- “The IoT Node And Gateway Market had a worth of USD 8.20 billion in 2022, and it is projected to attain USD 14.96 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.8% during the forecast period spanning from 2023 to 2030, as reported by SNS Insider”.
Market Report Scope
The IoT (Internet of Things) Node and Gateway are essential components of the rapidly expanding IoT ecosystem. IoT nodes are devices or sensors that collect data, monitor physical or environmental conditions, and transmit the data to a central hub or gateway. IoT gateways, on the other hand, act as intermediaries between IoT devices and the cloud or other network resources. IoT nodes and gateways enable the transfer of data from the physical world to the digital realm, facilitating communication and control in various industries such as healthcare, manufacturing, transportation, and smart homes.
Market Analysis
The IoT node and gateway market is experiencing significant growth, primarily driven by the increasing usage of connected devices and wireless networking technologies in various end-use industries. These technologies enable the seamless integration and communication of devices and systems, resulting in improved efficiency, productivity, and automation. IoT nodes are essentially small, low-power devices that can communicate with other devices over a wireless network, while gateways are devices that provide a bridge between IoT devices and cloud-based applications. As more and more industries adopt IoT technologies, the demand for these nodes and gateways is set to increase rapidly.
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Impact of Recession
The impact of a recession on the IoT node and gateway market can be significant, but it can also depend on various factors such as the specific industry and application. Companies in the IoT market need to be prepared to adapt and adjust their strategies during periods of economic decline to remain competitive and sustainable.
Key Regional Development
The Internet of Things (IoT) has witnessed significant growth in North America, with the region commanding the largest share for IoT node and gateway market. The widespread usage of IoT technology in this region has fueled this growth, particularly in sectors such as healthcare and automotive automation. The North American market has benefited from government initiatives and substantial investments in IoT technology, which have created a conducive environment for the growth of this market. Moreover, the increased investment in research and development in the field of IoT has led to the emergence of new and improved technologies, which has further boosted the growth of the market.
Key Takeaway from IoT Node and Gateway Market Study
- The sensor segment to dominate the market in the coming years. As the demand for real-time data analysis and accurate sensing capabilities continues to grow, the sensor market will play a critical role in enabling the growth of the IoT industry.
- The growing dominance of the consumer segment in the market is a positive development for the industry, as it will help to drive innovation and create new opportunities for growth and expansion.
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Recent Developments Related to IoT Node and Gateway Market
- Gateway.fm, a startup that aims to provide access to Web3 node infrastructure tools, has secured $4.6 million in funding. The company's platform offers a range of tools and services that allow developers and businesses to easily access and use the decentralized Web3 infrastructure.
- Cisco, the global technology giant, has recently announced the launch of a new range of cutting-edge 5G routers and gateways that are specifically designed for the industrial Internet of Things (IoT) landscape. This new offering from Cisco will enable businesses to leverage the power of 5G technology to revolutionize their operations and unlock new opportunities for growth.
IoT Node and Gateway Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 8.20 Billion |
| Market Size by 2030 | US$ 14.96 Billion |
| CAGR | CAGR 7.8% From 2023 to 2030 |
| Key Segments | • By Hardware (Sensor, Memory Device, Processor, Connectivity IC, Logic Device) • By End Use Application (Consumer, Industrial) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, +D11UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Some of the major companies listed are Huawei Technologies, Texas Instruments Incorporated, Hewlett Packard Enterprise, Aaeon Components, Dell Technologies, Intel Corporation, NXP Semiconductor, Cisco Systems, TE Connectivity and Advantech. |
| Market Drivers | •Increasing market for connected devices. •Data centers are becoming more and more essential as cloud computing platforms gain popularity. |
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