A gateway is a network node that connects two similar or dissimilar networks using different protocols. Various critical functions such as protocol translation, device connectivity, security, data filtering and processing etc. are performed by IoT nodes and gateways.
Improved internet connectivity, growing IP address space, and improved security offered by IPv6 are major factors driving growth of the global IoT node and gateway market. Increasing application and growing adoption of Internet of things (IoT) in retail, BFSI, and aerospace sector is further propelling demand for IoT node and gateway in the global market. Increasing internet penetration and government initiative towards improvement of IT and telecommunication infrastructure especially in emerging economies in APAC region are further expected to drive growth of the global IoT node and gateway market over the forecast period.
On the other hand, lack of standard communication protocols across several platforms is a major challenge for the global IoT node and gateway market. In addition, high power consumption by connected devices is restricting adoption of IoT services which is eventually hampering growth of the global IoT node and gateway market. Rising demand for application specific microcontroller units, increasing use of wireless sensors, and rising adoption of wearable devices are current trends seen in market, which is expected to fuel demand during the forecast period.
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The global IoT node and gateway market is segmented on the basis of hardware, application, and region.
North America dominates the IoT node and gateway market in terms of revenue generation. North America is expected to be the fastest growing market during the forecast period owing to established IT ecosystem and increasing adoption of IoT enabled products. Among other regions, the market in Asia Pacific is projected to grow exponentially owing to improving IT structure and internet penetration in commercial as well as residential sector.
Key players in the global IoT node and gateway market are Intel corporation, Huawei Investment & Holding Co., Ltd., Texas Instruments Inc., NXP Semiconductor N.V, Hewlett Packard Enterprise Co., Cisco Systems Inc., Hewlett Packard Enterprise Co., TE Connectivity Ltd., STMicroelectronics N.V., and Advantech Co. Ltd.
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