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IoT Node and Gateway Market Trends

Report ID: GMI8587
Published Date: Mar 2024
Report Format: PDF

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IoT Node and Gateway Market Trends

There is a growing emphasis on edge computing, which involves processing & analyzing data closer to the source, reducing latency and bandwidth usage. Integrating AI and machine learning capabilities into nodes and gateways enables advanced data analytics and edge decision-making. There is a growing emphasis on interoperability and standardization to ensure the seamless integration of various IoT devices and systems. Security remains a top priority with advancements in encryption, authentication, and intrusion detection reducing cyber threats. The integration of IoT with other emerging technologies, such as AI and blockchain technology, is opening new opportunities for automation, predictive analytics, and decentralized data management.

For instance, in July 2023, Microchip Technology Inc. introduced its inaugural lineup of automotive-qualified Ethernet PHYs to offer automotive Original Equipment Manufacturers (OEMs) reliable Ethernet solutions. This family of devices, namely LAN8670, LAN8671, and LAN8672, provides 10BASE-T1S capabilities and holds AEC-Q100 Grade 1 qualification. The LAN8670/1/2 Ethernet PHYs, designed to meet the requirements of ISO 26262 functional safety standards, offer functional safety readiness. With these devices, it is now feasible to integrate low-speed devices, which previously relied on separate communication systems, into a standardized Ethernet network within automotive applications.

Furthermore, the rise of LPWAN technologies enables long-range & low-power connectivity for IoT devices, enabling deployment in remote and resource-constrained environments. Overall, these trends indicate that the IoT node & gateway market is maturing, resulting in increased innovation, efficiency, and scalability in a wide range of industries.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The market size of IoT node and gateway reached USD 280 billion in 2023 and is set to witness 13.5% CAGR between 2024 and 2032, led by the increasing demand for IoT solutions across industries.

Wi-Fi connectivity segment is estimated to register a significant growth rate of over 14.5% during 2024 to 2032, as it enables seamless connectivity and communication among IoT devices.

North America IoT Node and Gateway Market held a significant share of over 30% in 2023 and is set to register a notable growth through 2032, fueled by increased investments in digital transformation initiatives, advancements in sensor technology, and the proliferation of connected devices.

Cisco Systems, Inc., Dell Technologies Inc., Helium, Hewlett Packard Enterprise, Huawei Technologies Co., Ltd., IBM Corporation, Intel Corporation, Laird Connectivity, NXP Semiconductors N.V., Particle Industries Inc. are some of the major industry contenders.