IoT Gateway Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

IoT Gateway Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global IoT gateway market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.4 Billion by 2028, exhibiting a growth rate (CAGR) of 13.39% during 2022-2028.

An Internet of Things (IoT) gateway refers to an intelligent central hub for IoT devices. It comprises communication technologies that help connect end-devices, such as sensors, actuators, blackened platforms, and subscriber management, to the gateway. It also includes a computing platform that allows pre-installed or user-defined applications to manage data, devices, communication, security, and other aspects of the gateway. Nowadays, there is a rise in the demand for IoT gateway as it assists in connecting devices to one another, translating communication between the devices, filtering data into useful information, and mitigating security risks.

IoT Gateway Market Trends:
At present, there is a rise in the deployment of edge computing to overcome IoT connectivity challenges. This, in confluence with the advent of 5G technology that acts as the new IoT gateway, wherein systems are designed for supporting connected devices, represents one of the key factors bolstering the growth of the market. Besides this, there is a significant rise in the application of IoT gateways in the healthcare industry. They aid in monitoring patient health through connected medical solutions remotely, offering real-time data collection and extending access to time monitoring and analysis. This, along with the rising need for upgrading medical facilities and improving the healthcare infrastructure, is contributing to market growth. Furthermore, the coronavirus disease (COVID-19) outbreak has positively influenced the utilization of IoT-connected platforms to detect and prevent the spread of the pandemic. This, in turn, is increasing the employment of IoT gateways around the world. Other factors, such as the growing number of connected devices and the increasing IoT adoption across several industry verticals, are anticipated to drive the market worldwide.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global IoT gateway market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, connectivity type and end user.

Breakup by Component:

Processor
Sensor
Memory and Storage Device
Others

Breakup by Connectivity Type:

Bluetooth
Wi-Fi
ZigBee
Ethernet
Cellular
Others

Breakup by End User:

Automotive and Transportation
Healthcare
Consumer Electronics
BFSI
Oil and Gas
Aerospace and Defense
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ADLINK Technology Inc., Advantech Co. Ltd, Cisco Systems Inc., Dell Technologies Inc., Eurotech, Fujitsu Limited, Hewlett Packard Enterprise Development LP, Intel Corporation, Mitsubishi Electric Corporation, NXP Semiconductors N.V., Siemens AG and Super Micro Computer Inc.

Key Questions Answered in This Report:
How has the global IoT gateway market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global IoT gateway market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the connectivity type?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global IoT gateway market and who are the key players?
What is the degree of competition in the industry?