Dublin, June 05, 2024 (GLOBE NEWSWIRE) -- The "Global IoT Node and Gateway Market by Hardware (Processor, Connectivity IC, Sensor, Memory, Logic Devices), End-use Application (Consumer Electronics, Building Automation, Automotive & Transportation, Wearable Devices, Retail) and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The IoT Node and Gateway market is projected to grow from USD 424.6 billion in 2024 and is projected to reach USD 604.7 billion by 2029; it is expected to grow at a CAGR of 7.3% from 2024 to 2029. Growing use of wireless smart sensors and networks, Increasing need for data centers, and Focus on industrial automation and Industry 4.0 to fuel the growth of IoT Node and Gateway market. 
Market for Connectivity IC to hold the largest share during the forecast period.
Wi-Fi, Bluetooth, Cellular Networks (4G LTE, 5G), Low-Power Wide Area Networks (LPWAN), and other wireless technologies play crucial roles in connecting devices and driving innovation in IoT hardware. Wi-Fi 6 and upcoming Wi-Fi 7 boast significant speed increases, greater capacity for handling numerous connected devices, and lower latency for real-time applications. Bluetooth 5.3 offers improved range and data transfer rates.
Advancements in these technologies, such as higher data transfer rates, increased network capacity, improved security, extended range, and enhanced power efficiency, fuel the development of next-generation IoT hardware. These innovations enable real-time processing, broader connectivity, enhanced security, longer deployment times, and more efficient power usage, leading to impactful applications across industries like smart homes, industrial automation, healthcare, agriculture, and smart cities. As these technologies continue to advance, the future promises even more sophisticated IoT hardware, shaping a more connected and intelligent world.
Market for Consumer electronics segment is projected to hold for largest share during the forecast timeline.
The consumer electronics segment accounts for major share in IoT Node and Gateway market. The consumer electronics application includes various devices such as smart TV, smart Light, s mart washing machine, smart refrigerator, smart oven, smart dishwasher, and other smart home appliances. Smart TVs connected to the Internet can perform various activities, such as provide overlay related information on the main viewing screen, collect data from the user's viewing history, and making assumptions about the user's future viewing. Smart TVs are connected with SmartThings, an open platform that allows users to connect, manage, and control smart devices and IoT services.
In January 2024, Panasonic announced a collaboration with Amazon to integrate Fire TV into its new smart TVs, starting this year. These TVs will offer high-quality streaming experiences and full Alexa integration, allowing users to control their TVs and smart home devices with voice commands. This move reflects the rising demand for smart TVs with advanced features. As smart TVs become more prevalent, the need for IoT nodes and gateways increases to facilitate seamless communication between devices and the cloud.
North America is expected to have the largest market share during the forecast period.
With the growing popularity of smart home devices, IoT nodes and gateways are becoming essential components for seamless data collection, secure communication, and ultimately, a more convenient and automated smart home experience. Overall, 85% of Americans own two or more smart devices, and this number is expected to rise, with a shift towards standalone smart home devices alongside the ubiquitous presence of smartphones and smart speakers. This presents a significant opportunity for manufacturers to capitalize on the expanding market and contribute to the advancement of smart technology in North America.
Research Coverage
This research report categorizes the IoT Node and Gateway market based on Hardware, End-use Application and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the IoT Node and Gateway market and forecasts the same till 2029. Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the IoT Node and Gateway ecosystem.
The report provides insights on the following:
- Analysis of key drivers (Emergence of 5G technology, Growing use of wireless smart sensors and networks, Provision of increased IP address space through IPv6, Increasing need for data centers, Growing market for connected devices, Focus on industrial automation and Industry 4.0) influencing the growth of the IoT Node and Gateway market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the IoT Node and Gateway market.
- Market Development: Comprehensive information about lucrative markets - the report analyzes the IoT Node and Gateway Market across varied regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the IoT Node and Gateway Market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Intel Corporation (US), Qualcomm Technologies, Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), Microchip Technology Inc. (US) among others in the IoT Node and Gateway Market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 470 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $424.6 Billion |
| Forecasted Market Value (USD) by 2029 | $604.7 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Connectivity ICS Segment to Account for Largest Market Share During Forecast Period
- Consumer Segment to Dominate IoT Node and Gateway Market from 2024 to 2029
- Asia-Pacific to Record Highest CAGR During Forecast Period
Premium Insights
- Attractive Growth Opportunities for Players in IoT Node and Gateway Market - Increasing Use of 5G to Power IoT Technologies to Boost Market
- IoT Node and Gateway Market, by Hardware - Logic Devices Segment to Register Highest CAGR During Forecast Period
- IoT Node and Gateway Market, by End-use Application - Consumer Electronics Segment Accounted for Largest Market Share in 2023
- IoT Node and Gateway Market, by Country- IoT Node and Gateway Market in China to Record Highest CAGR from 2024 to 2029
Market Dynamics
Drivers
- Emergence of 5G Technology
- Growing Use of Wireless Smart Sensors and Networks
- Provision of Increased IP Address Space Through Ipv6
- Increasing Need for Data Centers
- Growing Market for Connected Devices
- Focus on Industrial Automation and Industry 4.0
Restraints
- Concerns Regarding Security and Data Privacy
- High Power Consumption by Wireless Sensor Terminals and Connected Devices
Opportunities
- Cross-Domain Collaborations
- Government Support for Research and Development of IoT Technologies
- Accelerated IoT Adoption in Healthcare Sector
Challenges
- Lack of Common Protocols and Communication Standards
- Requirement for Wireless Spectrum and Licensed Spectrum
- Project Delays due to Shortage of Skilled Personnel and Connectivity Issues
Case Study Analysis
- Optimizing IoT Gateway Deployment for Smart Campuses
- Improving IoT Gateway Performance for Remote Monitoring Systems
- Developing IoT Gateway Solution for Smart City Infrastructure
- Implementing Edge Computing Solutions for Industrial IoT
- Enhancing IoT Gateway Performance for Industrial Applications
Companies Profiled
- Intel
- Qualcomm Technologies
- Texas Instruments
- Stmicroelectronics
- Microchip Technology
- Huawei Technologies
- NXP Semiconductors
- Cisco Systems
- Hewlett Packard Enterprise Development
- TE Connectivity
- Advantech
- Dell Technologies
- Siemens
- Helium Systems
- Samsara Networks
- Beep
- Estimote
- Aaeon Technology
- Nexcom International
- Eurotech
- Adlink Technology
- Volansys
- Embitel Technologies
- Mitsubishi Electric
- Lantronix
- Cradlepoint
For more information about this report visit https://www.researchandmarkets.com/r/w8pgwi
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