LONDON, Feb.17, 2022(GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the Internet of Things (IoT) node and gateway market, the emergence of 5G technology is expected to propel the growth of the IoT node and gateway market in the forecast period. 5G enables more stable and faster, secure connectivity. 5G's enhanced bandwidth enables more data to be transferred in a given amount of time, and its decreased latency lets data reach its destination faster. These networks provide increased coverage, which supports multiple network topologies, allowing IoT nodes and gateways to communicate easily.
For instance, according to a report by Ericsson, a Swedish telecoms corporation, the number of global 5G smartphone subscriptions climbed to 600 million in 2021, up three times the number in 2020, and 5G subscribers are predicted to cross one billion by 2022.
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The global internet of things (IoT) node and gateway market size is expected to grow from$7.54 billion in 2021 to $10.21 billion in 2022 at a compound annual growth rate(CAGR) of 35.4%. The growth in the market is mainly due to companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The IoT node and gateway market size is expected to reach$29.56 billion in 2026 at aCAGR of 30.4%.
Technological advancement is a key trend gaining popularity in the IoT node and gateway market. Major companies operating in the industrial IoT gateway market are focused on developing a new technological solution to meet consumer demand and strengthen their position. For instance, in May 2019, Advantech, a Taiwan-based automation technology company, launched the WISE-710 data gateway based on embedded key encryption and authentication technology. The WISE-710 data gateway provides a unique solution for bridging the gap between old equipment and emerging mesh networks. The Microchip ATECC508A security chip is included in the WISE-710 terminal, providing ultra-secure hardware-based security and protection for cloud service data operations.
Major players in the internet of Things (IoT) node and gateway global market are Dell, Advantech Co. Ltd., TE Connectivity, Cisco Systems Inc., Aaeon Technology Inc., Microchip Technology Inc., Nexcom International Co. Ltd, Helium System Inc., Samsara Networks Inc., STMicroelectronics N.V., Eurotech S.P.A, Adlink Technology Inc., Mitsubishi Electric Corporation, Lantronix Inc, Nexcom International Co. Ltd, NXP Semiconductors N.V, Hewlett Packard Enterprise, and Arm Holdings.
The global IoT node and gateway market is segmented by component into sensors, processor, connectivity IC, logic devices, memory devices; by connectivity into ethernet, Wi-Fi, Bluetooth, ZigBee, Z-wave, others; by application into healthcare, automotive and transportation, consumer electronics, industrial, BFSI, oil and gas, aerospace and defense, others; by end user into industrial, consumer.
North America was thelargest region in the IoT node and gateway market in 2021. The regions covered in the IoT node and gateway market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Internet of Things (IoT) Node and Gateway Global Market Report 2020-30: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provide internet of things (IoT) node and gateway market overviews, internet of things (IoT) node and gateway market analyze and forecast market size and growth for the whole market, segments and geographies, internet of things (IoT) node and gateway market trends, internet of things (IoT) node and gateway market drivers, internet of things (IoT) node and gateway market restraints, internet of things (IoT) node and gateway market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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