CHICAGO, May 24, 2024
/PRNewswire/ -- The IoT Node and Gateway market is projected to
grow from USD 424.6 billion in 2024
and is estimated to reach USD 604.7
billion by 2029; it is expected to grow at a Compound Annual
Growth Rate (CAGR) of 7.3% from 2024 to 2029 according to a new
report by MarketsandMarkets™. The growth of the IoT Node
and Gateway market is driven by the Provision of increased IP
address space through IPv6, Emergence of 5G technology, and
Increasing need for data centers.
Download PDF
Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=248007097
Browse in-depth TOC on "IoT Node and Gateway
Market"
410 – Tables
70 – Figures
390 – Pages
IoT Node and Gateway Market Report Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$ 424.6 billion
|
Estimated Value by
2029
|
$ 604.7 billion
|
Growth Rate
|
Poised to grow at a
CAGR of 7.3%
|
Market Size Available
for
|
2020–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Hardware, End-use
Application and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Key Market
Challenge
|
Requirement for
wireless spectrum and licensed spectrum
|
Key Market
Opportunities
|
Accelerated IoT
adoption in healthcare sector
|
Key Market
Drivers
|
Rising use of wireless
smart sensors and networks
|
By Hardware, the Logic Devices are projected to grow at a
high CAGR of IoT Node and Gateway market during the forecast
period.
Logic devices can adapt to changing requirements even after
deployment. As new features or functionalities are needed, the
logic within the device can be reprogrammed to accommodate these
changes, extending the useful life of the product and reducing the
need for hardware revisions. The integration of FPGA technology
into IoT devices further enhances these advantages. The integration
of FPGAs into IoT nodes and gateways empowers manufacturers to
develop highly optimized, customizable, and scalable solutions that
meet the diverse needs of IoT applications. Tesla's Full
Self-Driving (FSD) computer utilizes FPGAs to handle complex neural
network computations for autonomous driving algorithms. This allows
them to potentially improve their FSD capabilities through software
updates that reconfigure the logic within the FPGAs.
BFSI segment in IoT Node and Gateway Market is projected to
grow at a highest CAGR during the forecast period.
BFSI sector can use IoT technology to provide more convenient
solutions for customers. IoT can be used to perform data collection
in real time and for instant communication between devices. For
instance, it can facilitate cashless payments using an RFID scanner
to identify products in the shopping cart and mobile wallet. The
adoption of mobile point of sale (mPOS) systems and kiosks is
fundamentally reshaping the landscape of the BFSI market. mPOS
facilitates transactions anytime, anywhere, benefiting unbanked
populations and enabling temporary service points for events.
Kiosks offer convenient banking functionalities, reducing wait
times and freeing up staff for complex inquiries. These
technologies drive cost savings by requiring less investment and
automating routine tasks, allowing resources to be reallocated
strategically. They provide rich data for personalized services,
fraud detection, and operational optimization. mPOS
systems and kiosks promote financial inclusion by extending
services to remote areas, fostering economic activity and
well-being.
Inquiry Before Buying:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=248007097
North America accounts for
the largest share in IoT Node and Gateway Industry.
The North American IoT market is poised to grow, driven by
government efforts to transition cities into smart urban centers.
The growing need for sophisticated IoT solutions, fueled by the
widespread availability of high-speed data, will further propel
market expansion in this region. Furthermore, North America's dynamic IoT node and gateway
ecosystem features established players like Intel Corporation (US),
Texas Instruments Incorporated (US), Dell (US), and Cisco Systems
(US), driving competition, innovation, and affordability.
Increasing research and development at industry levels is
broadening the application areas of IoT in various industries, such
as retail, consumer electronics, automotive and transportation, and
healthcare, especially in the US. The increased demand for
effective solutions and focus on early, accurate, and fast
diagnosis of diseases has led to huge investments in technological
developments in the healthcare sector.
Key Players
Key companies operating in the IoT Node and Gateway companies
are 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.
Get 10% Free Customization on this Report:
https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=248007097
Browse Adjacent Market: Semiconductor and Electronics
Market Research Reports &Consulting
Related Reports:
IoT Technology Market by Node Component (Sensor, Memory
Device, Connectivity IC, Processor, Logic Devices), Software
Solution (Remote Monitoring, Data Management), Platform, Service,
End-use Application, Geography - Global Forecast to 2029
Industrial IoT Market Size, Share & Industry Growth
Analysis Report by Device & Technology, Connectivity Type,
Software, Vertical (Manufacturing, Energy, Oil & Gas,
Healthcare, Retail, Transportation, Metals & Mining,
Agriculture), and Geography - Global Growth Driver and Industry
Forecast to 2026
Internet of Robotic Things Market (IoRT) by Component
(Sensor, Power, Control), Service (Professional, Managed), Platform
(Device, Application, Network), Software (Analytics, Data,
Security, Monitoring, Bandwidth), Application - Global Forecast to
2022
MulteFire Market by Device (Small Cells, Switches,
Controllers), Application (Industrial Manufacturing, Commercial,
Transportation, Public Venues, Healthcare, Oil & Gas and
Mining, Power Generation, Hospitality), and Geography - Global
forecast 2025
Smart Robots Market Size, Share by Component (Sensors,
Actuators, Control Systems), Type, Operating Environment, Mobility,
Application (Domestic, Field/Agricultural, Public Relations,
Industrial), and Region - Global Forecast to 2025
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's
best management consulting firms by Forbes, as per their recent
report.
MarketsandMarkets™ is a blue ocean alternative in growth
consulting and program management, leveraging a man-machine
offering to drive supernormal growth for progressive organizations
in the B2B space. We have the widest lens on emerging technologies,
making us proficient in co-creating supernormal growth for
clients.
Earlier this year, we made a formal transformation into one of
America's best management consulting firms as per a survey
conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are
substituting existing revenue streams in this decade alone. We work
with clients on growth programs, helping them monetize this
$25 trillion opportunity through our
service lines - TAM Expansion, Go-to-Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement, and Thought
Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several
Forbes Global 2000 B2B companies - helping them stay relevant in a
disruptive ecosystem. Our insights and strategies are molded by our
industry experts, cutting-edge AI-powered Market Intelligence
Cloud, and years of research. The KnowledgeStore™ (our Market
Intelligence Cloud) integrates our research, facilitates an
analysis of interconnections through a set of applications, helping
clients look at the entire ecosystem and understand the revenue
shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us
on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight:
https://www.marketsandmarkets.com/ResearchInsight/iot-gateway-market.asp
Content Source:
https://www.marketsandmarkets.com/PressReleases/iot-gateway.asp
Logo:
https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original
content:https://www.prnewswire.com/news-releases/iot-node-and-gateway-market-worth-604-7-billion-by-2029---exclusive-report-by-marketsandmarkets-302155033.html
SOURCE MarketsandMarkets