IoT Node and Gateway Market

1. IoT Node and Gateway Market Size & Share | Industry Report, 2023-2027 The IoT node and gateway market was valued at USD 387.1 billion in 2020 and is projected to reach USD 566.4 billion by 2027; it is expected to grow at a compound annual growth rate (CAGR) of 6.7% from 2021 to 2027. The key factors driving the growth of the IoT node and gateway industry include emergence of 5G technology, growing use of wireless smart sensors and networks, growing market for connected devices, increasing necessity of data centers due to rising adoption of cloud platforms, and others. Connectivity IC segment to account for the largest share of IoT node and gateway market during the forecast period On the basis of Hardware, the IoT node and gateway market has been segmented into processor, sensor, connectivity IC, memory device, and logic device. the connectivity IC segment held the largest share of the overall IoT node and gateway market, in terms of volume. The increasing demand for better edge devices connectivity and significant developments in low-power connectivity technologies, such as Wi-Fi, Bluetooth, and Bluetooth Low Energy (BLE), are the key factors supporting the growth of the connectivity IC segment. Consumer application to account for the largest share of IoT node and gateway market during the forecast period Based on end-use application, the IoT node and gateway market has been segmented into industrial and consumer. Consumer application held the largest share of the overall IoT node and gateway market to during the forecast period. With the evolution of a number of consumer appliances that can connect to the Internet and smartphones, the growth of IoT technology in the consumer electronics segment is expected to receive a boost. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=248007097 APAC is expected to register the highest growth of IoT node and gateway market during the forecast period APAC is expected to register the highest growth in the IoT node and gateway market during the forecast period from 2021 to 2027. The growing penetration of the internet across commercial as well as residential spaces, broad consumer base, increasing disposable income, and improving IT infrastructure are some of the key determinants supplementing the growth of the IoT node and gateway market in APAC. Moreover, the adoption of cloud-based services and rising trend of industrial automation are the key growth drivers for the IoT node and gateway market for commercial applications in countries such as China, South Korea, and Japan. About MarketsandMarkets™ 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. 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.

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