Global IoT Gateway Market was valued US$ 11.5 Bn in 2019 and is expected to reach US$ 95 Bn by 2027, at a CAGR of 30.21 % during the forecast period.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global IoT gateway market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global IoT gateway market.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

Increasing demand for big data analytics is compelling the IoT gateway market into development in recent days. The demand of analytics is boosting the demand for IoT gateway in the market, such as Big Data supports analyzing sensor data and starts data gathering for many of the industrial machines, like oil refineries, turbines, and others. Also, it is helping organizations in improving their business decisions and innovating new business models, products, and service offerings.

IoT gateway is a node in a computer network which performs numerous critical functions such as device connectivity, protocol translation, data filtering and processing, security, updating, management and more. Gateway routes traffic from a workstation to the outside network that is attending up the web pages. For simple Internet connections at home, the gateway is the internet service provider that offers you access to the entire Internet. An IoT gateway can also be referred to as an intelligent gateway or a control tier.

Key driving factors behind the IoT gateway market are enhanced internet connectivity in technologically advancing countries and increased IP address space and security solutions provided in IPv6. The main feature of the IoT gateway market is that it invalidates the security problem of cloud by some value by providing its own level of security. Rising demand for IoT enabled devices and personalized technologies are the major factors impelling the growth of the global IoT gateways market. High installation cost owing to the need for multiple gateways and the designing of the IoT gateway is complex and requires skilled professionals for designing are the major factors limiting the growth of the IoT gateway market.

Development of connected applications by a business association is increasing and the entire ecosystem surrounding them is also rising remarkably. As IoT gateway structures the centerpiece in the building block for IoT, increasing development of connected appliances is helping the growth of the IoT gateway market. IoT gateways provide accommodations protocols for networking, manage repository and edge analytics on the data, and supports data flow securely between devices and the cloud. Increasing internet connectivity, continuous increase in requirement of smartphones and other associated devices, an increase in the use of wireless sensors and its networks are some of the major factors pushing the growth of global IoT gateway market.

Wearable devices rise to the classification of technology devices that can be damaged by end users and generally include irregular information associated with fitness and health. Among all the applications the wearable devices are projected to contribute the largest share in the growth of global IoT gateway market during the forecast period owing to increasing acceptance of internet of things, rising authorization of wearable devices, including smartwatches, fitness trackers and activity trackers, and growing demand for personalized technology in consumer markets. The rising adoption of wearable appliances in various application areas, like medical and healthcare, industrial, and military are the main factor driving the growth of the global IoT gateway market.

IoT supports the building administration companies by monitoring millions of square feet of office and industrial space from a remote location using a distributed IoT network of sensors and controllers connected through the cloud. Also, building the automation market is anticipated to produce vast opportunities for the global IoT gateway market, with increasing demand for energy-efficient solutions and security solutions.

Between various regions, North America is expected to dominate the IoT gateway market during the forecast period, because of the huge presence of many IoT gateway companies in the region. Also, advancement in research and development in the IoT space to develop smaller, cheaper and improved devices is one of the key factors contributing to the progress of the IoT gateway market in North America. North America region is estimated to be followed by Asia Pacific, and Europe. However, the market for IoT gateway is projected to index the fastest growth rate in Asia-Pacific, during the forecast period owing to increase in investment in IoT by companies and developers in Asia-Pacific is probably to support the development of this market.

This Report Is Submitted By : Maximize Market Research Company

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