IoT Gateways
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What Is the Expected CAGR for the IoT Gateways Market Through 2025?
Over the past few years, the market size of IoT gateways has seen swift expansion. The market’s value is set to rise from $1.99 billion in 2024 to $2.34 billion in 2025, presenting a compound annual growth rate (CAGR) of 17.6%. Factors such as the surge in IoT devices, necessity for edge computing, integration with the cloud, cost-cutting, and the requirement for immediate insights have contributed to the growth during the historic period.
What’s the Projected Size of the Global IoT Gateways Market by 2029?
The market for IoT gateways is projected to experience a significant expansion in the forthcoming years, with its value anticipated to reach $4.42 billion in 2029, marking an impressive compound annual growth rate (CAGR) of 17.3%. This upturn during the projected period can be primarily ascribed to factors such as the acceleration of edge AI and machine learning, the integration of blockchain, the edge-to-cloud continuum, monitoring and sustainability of the environment, customization and modularity, as well as lifecycle management and maintenance. Additionally, the forecast period is expected to witness major trends such as the incorporation of AI and machine learning, interoperability standards, hybrid cloud and edge deployments, a surge in demand for low-power solutions, and an increasing need for vertical-specific solutions.
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Top Growth Drivers in the IoT Gateways Industry: What’s Accelerating the Market?
The growth of the IoT gateways market is set to be spurred by improved internet connectivity. This refers to the capacity of devices to interface and interact with each other via the internet, allowing for information exchange and communication facilitation. The increase in internet connectivity can be attributed to economic motives, policy measures, growing demand for digital services, and shifts in consumer behavior. IoT gateways play a pivotal role in making sure that IoT devices and systems can securely and reliably connect to the internet, manage their data effectively, and sustain necessary communications. This is key to unlocking the full capabilities of IoT solutions in a variety of sectors. The International Telecommunication Union, a specialized agency based in Switzerland, reported in November 2022 that approximately 5.3 billion individuals, constituting 66% of the global population, were internet users in 2022, marking a 6.1% hike from 2021. Consequently, this improved internet connectivity is fueling the expansion of the IoT gateways market.
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What Trends Will Shape the IoT Gateways Market Through 2029 and Beyond?
Key players in the IoT gateways market, such as Microchip Technology, are innovating with technologically advanced products like automotive-qualified Ethernet PHYs to generate higher market revenue. This physical layer plays a critical role in IoT gateways, enabling rapid communication and data exchanges between IoT appliances and the cloud. In July 2023, Microchip Technology, a US-based developer of specialized semiconductor products, introduced its LAN8670/1/2 10BASE-T1S devices, known for their automotive-qualified Ethernet PHYs. These devices boast superior features, including improved EMC/EMI performance, time-sensitive networking support for accurate time synchronization, and a sleep/wake feature. Importantly, they provide sophisticated PHY diagnostics and endorse multiple Ethernet PHYs on a shared bus line, effectively diminishing cabling and switch ports while guaranteeing operational safety readiness for ISO 26262 applications.
What Are the Main Segments in the IoT Gateways Market?
The IoT gateways market covered in this report is segmented –
1) By Component: Processor, Sensor, Memory And Storage Device, Other Components
2) By Connectivity: Bluetooth, Wi-Fi, ZigBee, Ethernet, Cellular, Other Connectitvities
3) By End-User: Automotive and Transportation, Healthcare, Industrial, Consumer Electronics, Banking, Financial Services And Insurance (BFSI), Oil And Gas, Retail, Aerospace and Defense, Other End-Users
Subsegments:
1) By Processor: Central Processing Unit (CPU), Microcontroller Unit (MCU), System On Chip (Soc)
2) By Sensor: Temperature Sensor, Pressure Sensor, Humidity Sensor, Motion Sensor, Proximity Sensor
3) By Memory And Storage Device: Random Access Memory (RAM), Flash Memory, Solid-State Drive (SSD), External Storage Devices
4) By Other Components: Communication Modules, Power Management Ics, Voltage Regulators, Antennas, Connectors
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Which Top Companies are Driving Growth in the IoT Gateways Market?
Major companies operating in the IoT gateways market report are Dell Inc.; Huawei Technologies Co. Ltd.; Hewlett Packard Enterprise Co.; Cisco Systems Inc.; Texas Instruments Incorporated; STMicroelectronics N.V.; TE Connectivity Ltd.; Eurotech Inc.; NXP Semiconductors; Harman International Industries Inc.; Microchip Technology Inc.; Super Micro Computer Inc.; Advantech Co. Ltd.; Kontron S&T AG; Pepperl+Fuchs Inc.; Banner Engineering Corp.; Samsara Networks Inc.; ADLINK Technology Inc.; Aaeon Technology Inc.; Softing Industrial Automation GmbH; Multi-Tech Systems Inc.; Helium Systems Inc.; Winmate Inc.; Rigado LLC; ClearBlade Inc.
Which Regions Will Dominate the IoT Gateways Market Through 2029?
North America was the largest region in the IOT gateways market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the IoT gateways market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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