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IoT Gateway Devices Market Trends

Report ID: GMI4819
Published Date: Aug 2024
Report Format: PDF

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IoT Gateway Devices Market Trends

The evolution of wireless connectivity standards, such as 5G, Wi-Fi 6, and Low Power Wide Area Network (LPWAN) technologies, is enhancing the capabilities and performance of IoT gateway devices. Enhanced versions of 4G LTE, such as LTE Cat 6 and LTE Cat 12, provide higher speeds and better network performance. IoT gateways with these advancements can deliver improved connectivity for a range of applications, from remote monitoring to mobile asset tracking.

For instance, in June 2022, Monnit introduced its new ALTA Wireless IoT Gateway, designed to maintain robust connectivity for ALTA Wireless Sensor networks across various environments and remote locations. The ALTA IoT Gateway features a cellular engine supporting 4G Long-Term Evolution (LTE) Category M1 (CAT-M1) and NarrowBand Internet of Things (NB-IoT) 2 (NB2) technologies.

As IoT gateways serve as crucial intermediaries between connected devices and external networks, they are prime targets for cyber-attacks. The integration of robust security measures in these devices is essential to protect against unauthorized access, data breaches, and malicious activities. IoT gateways now incorporate advanced encryption protocols, such as AES-256, to ensure that data transmitted between devices and networks is secure.

Multi-factor authentication (MFA) and secure access controls are also employed to prevent unauthorized access to the gateway and its connected systems. IoT gateways are increasingly designed to adhere to principles of data minimization, ensuring that only necessary data is collected and transmitted. This approach reduces the risk of exposing excessive personal information and complies with privacy regulations.

Authors: Suraj Gujar, Saptadeep Das

Frequently Asked Questions (FAQ) :

The market size of IoT gateway devices reached USD 11.1 billion in 2023 and will register 10% CAGR between 2024 and 2032, due to increasing adoption of IoT technology across various industries, such as healthcare, manufacturing, and smart cities.

IoT gateway devices industry from the Wi-Fi segment will register 14.5% CAGR through 2032, driven by its widespread adoption and ease of integration with existing networks.

North America market size will reach USD 13 billion by 2032, attributed to advanced technological infrastructure and high adoption rates of IoT solutions across various sectors, including healthcare, manufacturing, and smart cities.

Companies including Toshiba Corporation, Siemens AG, Huawei Technologies Co. Ltd., Fujitsu Ltd., Sierra Wireless, Inc., Eurotech SPA, and Cisco Systems, Inc., are operating in the industry.