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Global IoT Gateway Market to Reach US$ 3.03 Billion by 2027, Impelled by Emergence of 5G Technology

Published on Oct 18, 2022

The latest report by IMARC Group, titled "IoT Gateway Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027," finds that the global IoT gateway market size reached US$ 1.42 Billion in 2021. An Internet of Things (IoT) gateway is a centralized hub that connects IoT devices such as actuators, blackened platforms, subscriber management, and sensors to cloud-based computing and data processing. It also allows pre-installed or user-defined applications to manage data, communication, devices, security, and other aspects of the gateway. As a result, IoT gateways are widely adopted for connecting devices to one another, translating communication between the devices, filtering data into useful information, and mitigating security risks across various industrial verticals.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global IoT Gateway Market Trends:

The market is primarily driven by the advent of 5G technology. In addition, the increasing deployment of edge computing to overcome IoT connectivity challenges represents another major growth-inducing factor. Moreover, these solutions are widely adopted across the healthcare industry to monitor patient health through connected medical solutions remotely, offer real-time data collection and provide access to time monitoring and analysis. This, coupled with the sudden outbreak of coronavirus disease (COVID-19), has escalated the demand for IoT-connected platforms to detect and prevent the spread of the pandemic, thereby propelling market growth. Furthermore, the growing number of connected devices and the increasing IoT adoption across several industry verticals are also creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market to reach US$ 3.03 Billion by 2027, exhibiting a CAGR of 13.56% during the forecast period (2022-2027).

Market Summary:

  • Based on the component, the market has been classified into processor, sensor, memory and storage device, and others.
  • On the basis of the connectivity type, the market has been segmented into Bluetooth, Wi-Fi, ZigBee, Ethernet, cellular, and others.   
  • Based on the end user, the market has been segregated into automotive and transportation, healthcare, consumer electronics, BFSI, oil and gas, aerospace and defense, and others.
  • Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined in the report, with some of the key players being ADLINK Technology Inc., Advantech Co. Ltd, Cisco Systems Inc., Dell Technologies Inc., Eurotech Technologies Pvt. Ltd., Fujitsu Limited, Hewlett Packard Enterprise Development LP, Intel Corporation, Mitsubishi Electric Corporation, NXP Semiconductors N.V., Siemens AG, and Super Micro Computer Inc.
     

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