IoT Node and Gateway Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 – 2030
IoT Node and Gateway Market: Overview
The IoT node and gateway market have been estimated to experience significant growth opportunities in the upcoming years. This increasing market growth is attributed to the rising market for connected devices, increasing use of wireless smart networks and sensors, and the emergence of 5G technology. Further, the growing need for data centers because of the increasing adoption of various cloud platforms is predicted to contribute to market growth in the forthcoming years.
IoT comes up with tremendous potential due to its increasing adoption rate in different end-use applications such as retail, healthcare, and wearable. However, the security and privacy of the data serve as the major constraints in the market growth. A significant increase in the number of connected devices has led to the growing adoption of the IoT in different end-use applications. This has further resulted in the generation of a huge amount of data. Cybercriminals can hack into the systems and use data of someone’s car insurance, track the behavior of any company’s strategies, and evaluate the health status of a person. Owing to these factors, the IoT node, and gateway market has been anticipated to experience various constraints in the growth.
IoT Node and Gateway Market: Key Trends
In the developed regions, for example, Europe and North America, there has been a significant increase in the penetration rate of internet connectivity during the past 10-15 years. The upcoming launch of 5G or the fifth generation of cellular mobile communications has been anticipated to put a positive impact on the IoT node and gateway market. This market growth is primarily driven by the improved performance and reliability of the connected devices. 5G is likely to address the requirement for a faster network that comes with a higher capacity to serve connectivity needs. 5G spectrum has been predicted to expand the frequencies to transfer data on digital cellular technologies.
The commercial success of the IoT is closely linked to its performance quality that is dependent on its capacity to establish communication with various other IoT tablets, smartphones, software, and devices. The data transfer speeds are estimated to increase with the 5G networks as it is ten times faster than the current LTE networks.
Manufacturing, agriculture, transportation, and other physical industries are expected to experience a significant increase in job growth with the assistance of the 5G networks.
IoT Node and Gateway Market: Competitive Dynamics and Key Developments
The key players operating in the IoT node and gateway market have been incorporating various strategies to bolster growth prospects in the forthcoming years. Collaborations, product approvals, mergers, acquisitions, partnerships, and novel product launches are some of the major strategies that are incorporated by the key companies to create expansion avenues in the market.
For instance, Intel Corporation has launched the novel 3rd Generation Intel Xeon scalable processors that are combined with the portfolio of Intel.
Some prominent players in the global IoT node and gateway market include:
IoT Node and Gateway Market: Regional Assessment
The IoT node and gateway market are spread across different geographical locations around the world including North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. Among these, the Asia Pacific region is anticipated to register significant growth in the market. This market growth is on the back of increasing penetration of internet connectivity across residential as well as commercial spaces. Further, improving IT infrastructure, increasing disposable income, and a broad consumer base are some of the significant drivers to fuel growth avenues in the IoT node and gateway market. Further, the growing trend of industrial automation and the adoption of different cloud-based services are also fueling the growth prospects in the market.
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