The global IoT node and gateway market is projected to exhibit a significant growth, at a CAGR of around 5.8%, during the forecast period. A significant rise in smart city projects has been noticed in the countries, such as the US, China, India, and Germany. These projects are aimed to improve standards of living, local development, and harnessing technology to create smart outcomes for citizens. For instance, IoT-EPI is a European Initiative started in 2017. This initiative addresses the new EU-funded H2020 programs regarding the development of IoT platform. There are seven research and innovation projects at the core of IoT-EPI: BIG IoT, Inter-IoT, symbIoTe, AGILE, VICINITY, TagItSmart!, and bIoTope. These projects with total funding of $61.3 million, and in partnership with 120 established companies and organizations, aim at the development of innovative platform technologies and foster technology adoption via community and business building.
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Emerging economies such as China and India are also competing in implementing smart city projects across their province. For instance, in China, the development of innovative smart city projects involves some key factors, such as digital integration, new and sustainable mobility solutions, distributed energy generation, personalized healthcare, and automated waste management. Furthermore, the Chinese smartphone producers and telecommunication vendors have been joined for the smart city program. For instance, Huawei Technologies Co., Ltd. has been joined by Chinese technology leaders, such as Alibaba Group Holding Ltd. and Ping an Insurance (Group) Company of China, Ltd. and Tencent Holdings, Ltd. for smart city projects. It has been shown that more than 500 cities in China have already been working to the new smart city initiative “PATH”. There is significant importance of location-based services coupled with the IoT solutions to locate and track the objects within the city and maintaining the safety of citizens. Therefore, the rising focus on smart city projects is anticipated to drive the demand for IoT node and gateway.
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The Asian Development Bank (ADB) is assisting smart city projects in India, totaling more than $2 billion for both national and state levels. ADB’s niche areas for its Smart City program in India include water, wastewater, solid waste, drainage, smart water technologies, and innovative management approaches. The United Smart Cities program was jointly initiated by the United Nations Economic Commission for Europe (UNECE) and other industrial partners. The major areas include ICT, waste management, urban mobility, sustainable housing, and clean energy. The government initiatives are significantly contributing to the development of smart cities across countries, which in turn, are offering significant opportunity for IoT technology, and in turn growth to the IoT node and gateway market
Global IoT Node and Gateway Market-Segmentation
By Hardware
- Processors
- Sensors
- Memory Devices
- Connected Integrated Circuits
- Others (Logic Devices)
By End-User
- Consumer Electronics
- Healthcare
- BFSI
- Automotive & Transportation
- Others (Retail and Oil & Gas)
Global IoT Node and Gateway Market– Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- AAEON Technology Inc.
- ADLINK Technology Inc.
- Advantech Co., Ltd.
- Cisco Systems Inc.
- Dell Technologies, Inc.
- EasyReach Solutions Pvt. Ltd.
- Embitel Technologies (I) Pvt. Ltd.
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