IoT Node and Gateway Market Size Worth $995.25 Billion By 2032 | CAGR: 9.1%
The global IoT node and gateway market size is expected to reach USD 995.25 billion by 2032, according to a new study by Polaris Market Research. The report “IoT Node and Gateway Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software, Services); By Connectivity Type; By End-User; By Region; Segment Forecast, 2023- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Various sectors are leveraging node and gateway technology to elevate their operations. Agriculture gains valuable insights from soil moisture data while manufacturing streamlines production lines. Smart cities enhance their infrastructure management capabilities. With the increasing prevalence of 5G connectivity, node and gateway technologies play an even more crucial role in facilitating rapid, high-speed, low-latency data transfers. The market is witnessing swift growth propelled by the widespread acceptance of IoT solutions, which encompass sensors and actuators to gather real-world data. Gateways play a pivotal role in ensuring efficient data transmission to the central system.
The healthcare sector stands to gain immensely from IoT nodes and gateways. Remote patient monitoring, predictive maintenance of medical equipment, and optimized supply chain management are just a few examples of how IoT technology can revolutionize healthcare delivery. Similarly, the concept of smart cities relies heavily on interconnected devices and systems. IoT nodes and gateways are pivotal in enabling intelligent traffic management, efficient energy consumption, and enhanced public safety.
Moreover, agriculture is undergoing a digital transformation, with IoT technology playing a central role. Smart sensors and gateways facilitate precise monitoring of environmental conditions, enabling farmers to make data-driven decisions regarding irrigation, fertilization, and pest control.
The emergence of 5G technology primarily propels the market's expansion, the escalating use of wireless smart sensors and networks, a thriving market for connected devices, and the surging demand for data centers due to the widespread adoption of cloud platforms.
IoT Node and Gateway Market Report Highlights
- The services segment is expected to grow at the highest CAGR during the projected period on account of increasing security and scalability
- WiFi segment accounted for the largest market share in 2022, which is mainly driven by cost-effectiveness, higher performance, and flexibility
- The consumer electronics segment held a significant market revenue share in 2022, mainly due to technological innovation
- North America region dominated the market with a majority share in 2022, owing to exponential growth in technology and rising R&D investments across economies
- The global key market players include Dell Technologies Inc., Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd., Intel Corporation, and Microchip Technology Inc.
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Polaris Market Research has segmented the IoT node and gateway market report based on component, connectivity type, end-user, and region:
IoT Node and Gateway, Component Outlook (Revenue - USD Billion, 2019 - 2032)
- Hardware
- Software
- Services
IoT Node and Gateway, Connectivity Type Outlook (Revenue - USD Billion, 2019 - 2032)
- Bluetooth
- Wifi
- Zigbee
- Others
IoT Node and Gateway, End-User Outlook (Revenue - USD Billion, 2019 - 2032)
- Consumer Electronics
- Oil & Gas
- Building Automation
- Automotive & Transportation
- BFSI
- Healthcare
- Retail & E-Commerce
- Others
IoT Node and Gateway, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
IoT Node and Gateway Market Report Scope
| Report Attributes | Details |
| Market size value in 2024 | USD 496.56 billion |
| Revenue forecast in 2032 | USD 995.25 billion |
| CAGR | 9.1% from 2024 – 2032 |
| Base year | 2023 |
| Historical data | 2019 – 2022 |
| Forecast period | 2024 – 2032 |
| Quantitative units | Revenue in USD billion and CAGR from 2024 to 2032 |
| Segments covered | By Component, By Connectivity Type, By End-User, By Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
| Customization | Report customization as per your requirements with respect to countries, region and segmentation. |
| For Specific Research Requirements |
