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 - Global Forecast to 202

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 - Global Forecast to 2029

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.

Extensive primary interviews were conducted with key industry experts in the IoT Node and Gateway market space to determine and verify the market size for various segments and subsegments gathered through secondary research. The break-up of primary participants for the report has been shown below:

The break-up of the profile of primary participants in the IoT Node and Gateway market:

By Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%

By Designation: C Level – 45%, Director Level – 35%, Others-20%

By Region: North America – 40%, Europe – 18%, Asia Pacific – 35%, ROW- 7%

Major vendors in the IoT Node and Gateway market include Intel Corporation (US), Qualcomm Technologies, Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Huawei Technologies Co., Ltd. (China), NXP Semiconductors N.V. (Netherlands), Cisco Systems, Inc. (US), Hewlett Packard Enterprise Development LP (US), TE Connectivity Ltd (Switzerland), Advantech Co., Ltd. (Taiwan), Dell Technologies (US), among others.

Apart from this, Siemens (Germany), Helium Systems Inc. (US), Samsara Networks Inc. (US), Beep Inc. (US), Estimote Inc. (US), AAEON Technology Inc. (Taiwan), Nexcom International Co., Ltd. (Taiwan), Eurotech (Italy), ADLINK Technology Inc. (Taiwan), VOLANSYS (US), Embitel Technologies (India), Mitsubishi Electric Corporation (Japan), Lantronix, Inc. (US), Cradlepoint, Inc (US), are among a few emerging companies in the IoT Node and Gateway market.

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.

Key Benefits of Buying the Report The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall IoT Node and Gateway Market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

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.