IoT node and gateway market size was valued at USD 412.60 billion in 2022 and is poised to grow from USD 465.41 billion in 2023 to USD 1219.86 billion by 2031, growing at a CAGR of 12.8% in the forecast period (2024-2031).
IoT nodes and gateways are devices in an IoT ecosystem that connect the digital and real worlds. Growing use of IoT technologies and high demand for automation are slated to bolster the demand for IoT nodes and gateways in the future. High demand for low-power consumption and better efficiency in IoT devices will also create new opportunities for IoT node and gateway providers.
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Top Player’s Company Profiles
Rapidly increasing use of IoT devices across multiple industry verticals for automation and other applications is creating an opportune setting for IoT node and gateway companies. Developing IoT devices for specific industries will also be a key trend that is expected to boost market growth going forward. Advancements in connectivity technologies are also expected to provide new business scope for IoT node and gateway market players in the long run.
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Segments covered
Component
Hardware – Processors (Microcontroller Unit (MCU), Microprocessor Unit (MPU), Digital Signal Processor (DSP), Application Processor (AP)), Sensors (Accelerometer, Inertial Measurement Unit (IMU), Heart Rate Sensor, Pressure Sensor, Temperature Sensor, Blood Glucose Sensor, Blood Oxygen Sensor, Electrocardiogram (ECG) Sensor, Humidity Sensor, Image Sensor, Ambient Light Sensor, Flow Sensor, Level Sensor, Chemical Sensor, Carbon Monoxide Sensor, Motion And Position Sensor, Camera Module, Other), Connectivity Integrated Circuits (ICS) (Connectivity Technology {Wired [Ethernet/IP, Modbus, Process Field Network (PROFINET), Foundation Fieldbus (FF)], Wireless [ANT+, Bluetooth, Bluetooth Smart/Bluetooth Low Energy (BLE), ZigBee, Wireless Fidelity (Wi-Fi), Near-field Communication (NFC), Cellular network, WirelessHART, Global Positioning System (GPS)/Global Navigation Satellite System (GNSS) module, ISA100, Bluetooth/WLAN]}), Memory Devices (On-chip Memory, Off-chip Memory/External Memory), Logic Devices (Field-programmable Gate Array (FPGA)), Services
End User Application
Industrial (Healthcare {Device types [Fitness and heart rate monitors, Blood pressure monitors, Blood glucose meters, Continuous glucose monitors, Pulse oximeters, Automated external defibrillators, Programmable syringe pumps, Wearable injectors, Multiparameter monitors, Fall detectors, Smart pill dispensers, Gateways]}, Automotive & Transportation {Device types [Connected cars , Ultrasonic sensors, Cameras/image sensors, Radar, LiDAR, Infrared (IR) detectors], In-car infotainment, Traffic management systems [Vehicle detection sensor, Pedestrian presence sensor, Speed sensor, Thermal camera, Automated incident detection (AID) camera], Public transport/mass transit systems, E-tolls/E-highways, Gateways}, Building Automation {Device types [Occupancy sensors, Daylight sensors, Smart thermostats, IP cameras, Smart meters, Smart locks, Smoke detectors, Gateways]}, Manufacturing {Device types [Temperature sensors, Pressure sensors, Level sensors, Flow sensors, Chemical sensors, Humidity sensors, Motion & position sensors, Image sensors, Gateways]}, Retail {Device types [Intelligent vending machines, Contactless checkout/Point of sale systems, Smart mirrors, Smart shopping carts, Digital signage, Smart tags, Wireless beacons, Gateways]}, Banking, Financial Services And Insurance (BFSI) {Device types [Mobile point of sale (mPOS) solutions, Smart/Interactive kiosks, Gateways]}, Oil & Gas {Device types [Temperature sensors, Pressure sensors, Level sensors, Flow sensors, Image sensors, Other sensors], Agriculture {Device types [Climate sensors, Soil moisture sensors, Level sensors]}, Aerospace & Defense {Device types [Smart baggage tags, Smart beacons, Drones/Unmanned aerial vehicles (UAVs)]}), Consumer (wearable Devices {Device types [Activity monitors, Smartwatches, Smart glasses, Body-worn cameras]}, Consumer Electronics {Device types [Smart lighting, Smart TVs, Smart washing machines, Smart dryers, Smart refrigerators, Smart ovens, Smart cooktops, Smart cookers, Smart deep freezers, Smart dishwashers, Smart coffee makers, Smart kettles]})
New IoT Gateway Launches Bringing in Major Revenue for IoT Node and Gateway Companies
IoT node and gateway providers are focusing on partnering and collaborating with telecommunication giants to develop and launch novel IoT gateways. IoT node and gateway companies are also launching new gateways to support the rapidly expanding network of IoT devices around the world. IoT node and gateway manufacturers can also focus on developing advanced hardware components using novel technologies to create better products. The incorporation of advanced connectivity technologies such as 4G and 5G technologies will also be a key trend for IoT node and gateway companies. Space-based IoT gateways are estimated to emerge in popularity in the long run as emphasis on better IoT connectivity rises.
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Advancements in IoT technology and growing use of the same in automation are slated to create a highly opportune setting for IoT node and gateway companies in the future. New companies should target the development of novel software for IoT gateways and nodes to maximize their efficiency and connectivity capabilities. Established IoT node and gateway providers should invest in the development of new IoT infrastructure to improve their revenue generation potential through 2031 and beyond.
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