The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Overview

The IoT gateways market has experienced significant growth recently. In 2023, the market size was $1.70 billion, and it is projected to reach $1.99 billion in 2024, reflecting a compound annual growth rate (CAGR) of 17.0%.

Key Growth Factors (2023-2024)

• Proliferation of IoT Devices: Increased adoption across various sectors.
• Edge Computing Needs: Demand for processing data closer to the source.
• Cloud Integration: Seamless connectivity with cloud platforms.
• Cost Reduction: Lower costs of IoT components and solutions.
• Real-Time Insights: Growing need for immediate data processing and analytics.

Future Market Projections

The IoT gateways market is expected to continue its rapid growth, reaching $3.77 billion by 2028, with a CAGR of 17.4%.

Growth Drivers (2024-2028)

• Edge AI and ML Acceleration: Integration of advanced artificial intelligence and machine learning at the edge.
• Blockchain Integration: Enhanced security and transparency in IoT transactions.
• Edge-to-Cloud Continuum: Seamless data flow from edge devices to the cloud.
• Environmental Monitoring and Sustainability: IoT applications for environmental conservation.
• Customization and Modularity: Tailored IoT solutions for specific needs.
• Lifecycle Management and Maintenance: Improved management of IoT devices over their lifecycle.

Major Trends

• AI and ML Integration: Enhanced decision-making capabilities.
• Interoperability Standards: Ensuring seamless communication between diverse IoT devices.
• Hybrid Cloud and Edge Deployments: Optimized data processing and storage solutions.
• Low-Power Solutions: Energy-efficient IoT devices.
• Vertical-Specific Solutions: Customized applications for various industries.

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Impact of Enhanced Internet Connectivity

Enhanced internet connectivity is a crucial driver for the IoT gateways market.

Connectivity Insights

• Internet Connectivity: Facilitates communication and data exchange between devices.
• Economic Incentives and Policy Initiatives: Driving widespread internet adoption.
• Demand for Digital Services: Increased consumer and business reliance on digital solutions.
• Global Internet Usage: In 2022, around 5.3 billion people were internet users, up 6.1% from 2021.

Major Players in the IoT Gateways Market

Leading companies in the IoT gateways market include:

• Dell Inc.
• Huawei Technologies Co. Ltd.
• Hewlett Packard Enterprise Co.
• Cisco Systems Inc.
• Texas Instruments Incorporated
• STMicroelectronics N.V.
• TE Connectivity Ltd.
• Eurotech Inc.
• NXP Semiconductors
• Harman International Industries Inc.

Innovations in IoT Gateways

Microchip Technology’s Advanced Ethernet PHYs

• Automotive-Qualified Ethernet PHYs: Essential for high-speed communication and data transfer.
• Product Launch: In July 2023, Microchip Technology introduced LAN8670/1/2 10BASE-T1S devices with enhanced EMC/EMI performance and time-sensitive networking support.

Wireless Logic’s Acquisition of Blue Wireless

• Strategic Acquisition: In March 2023, Wireless Logic acquired Blue Wireless to expand its presence in Asia-Pacific and the United States.
• Market Expansion: Enhancing capabilities and offerings in the IoT market.

Market Segmentation

By Component

• Processor
• Sensor
• Memory and Storage Device
• Other Components

By Connectivity

• Bluetooth
• Wi-Fi
• ZigBee
• Ethernet
• Cellular
• Other Connectivities

By End-User

• Automotive and Transportation
• Healthcare
• Industrial
• Consumer Electronics
• Banking, Financial Services, and Insurance (BFSI)
• Oil and Gas
• Retail
• Aerospace and Defense
• Other End-Users

Regional Insights

North America

• Largest Region in 2023: Leading the IoT gateways market.

Asia-Pacific

• Fastest-Growing Region: Expected to see the highest growth rate in the forecast period.

The IoT gateways market is poised for substantial growth, driven by technological advancements, increasing connectivity, and strategic industry moves. As IoT continues to expand, the importance of robust and efficient gateways will only increase, shaping the future of connected technologies.

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The IoT Gateways Global Market Report 2024  provides an overview of the IoT gateways market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The IoT gateways market forecast analyzes IoT gateways market size, IoT gateways market share, leading competitor and their market positions.

The Table Of Content For The IoT Gateways Market Include:
1. IoT Gateways Market Executive Summary
2. IoT Gateways Market Segments
3. IoT Gateways Market Size And IoT Gateways Market Growth Rate
4. Key IoT Gateways Market Trends
5. Major IoT Gateways Market Drivers
……
25. Key Mergers And Acquisitions In The IoT Gateways Market
26. Top IoT Gateways Companies
27. IoT Gateways Market Opportunities And Strategies
28. IoT Gateways Market, Conclusions And Recommendations
29. Appendix

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