IoT Node and Gateway Market Analysis

IoT Node and Gateway Market Analysis

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Based on the end-use industry, the market is segmented into aerospace & defense, agriculture, automotive & transportation, BFSI, consumer electronics, healthcare, oil & gas, retail, and others. The consumer electronics segment accounted for 18.5% of the market share in 2023.
 

• The integration of IoT nodes and gateways is transforming the consumer electronics industry. These devices allow connectivity and data exchange between various consumer electronics products, resulting in improved functionality, automation, and personalized experiences for users. Smart home devices, wearables, and connected appliances are becoming increasingly popular as a result of the Internet of Things technologies. Manufacturers are investing in IoT features to differentiate their products and increase IoT node and gateway market share.
   
• Furthermore, the proliferation of IoT ecosystems and standards promotes interoperability and drives innovation in the consumer electronics industry. As a result, consumers are increasingly adopting IoT-enabled devices, creating significant growth opportunities, and changing the landscape of the consumer electronics industry.
   

Based on the connectivity, the IoT node and gateway market is segmented into Bluetooth, Wi-Fi, ZigBee, Z-Wave, and others. The Wi-Fi segment is projected to expand at 14.5% CAGR from 2024 to 2032.
 

• Wi-Fi connectivity is rapidly evolving with the increasing number of IoT nodes and gateways. As IoT devices become more common in domains such as smart homes, industries, and cities, Wi-Fi networks are evolving to meet their connectivity requirements. Modern Wi-Fi standards such as Wi-Fi 6 and emerging technologies such as Wi-Fi 6E provide greater bandwidth, lower latency & increased reliability, which is critical for handling the diverse data streams generated by IoT devices.
   
• Advancements in mesh networking and edge computing enable Wi-Fi networks to efficiently manage several IoT nodes & gateways, improving scalability and resilience. Overall, Wi-Fi's evolution is critical in enabling seamless connectivity and communication among IoT devices, thereby driving innovation & efficiency throughout industries.
   

North America IoT node and gateway market held over 30% of the revenue share in 2023. In North America, IoT nodes and gateways are being deployed in a variety of industries including manufacturing, healthcare, transportation, and smart cities. This growth is being driven by increased investments in digital transformation initiatives, advancements in sensor technology, and the proliferation of connected devices.
 

Companies are using IoT nodes and gateways to collect & analyze real-time data, improve operational efficiency, improve decision-making processes, and provide innovative services to customers. Furthermore, partnerships and collaborations between technology providers, industry players, and government agencies are accelerating the adoption of IoT solutions throughout the region.