According to the latest report by IMARC Group, titled “IoT Gateway Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.' the global IoT gateway market reached a value of US$ 1.42 Billion in 2021.Looking forward, IMARC Group expects the market to reach US$ 3.03 Billion by 2027, exhibiting at a CAGR of 13.56% during 2022-2027.
The Internet of Things (IoT) gateway is a centralized hub that connects sensors and IoT devices to cloud-based computing and data processing. They enable bidirectional data flow between the cloud and IoT devices. IoT gateway includes a computing platform that enables pre-installed or user-defined applications to manage devices, communication, data, security, and other aspects of the gateway. It also assists in filtering data into useful information, translating communication between the devices, mitigating security risks, and connecting devices to one another.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
IoT Gateway Market Trends:
The rapid adoption of IoT gateway across the healthcare industry for its various advantages, such as remotely monitoring patient health through connected medical solutions, represents one of the primary factors driving the market growth. Moreover, the deployment of edge computing to overcome IoT connectivity challenges and the rapid adoption of the solution across several industrial verticals are boosting the market growth. In line with this, the recent COVID-19 outbreak has surged the utilization of IoT-connected platforms due to the quarantine mandated by governments to prevent the spread of the virus, which is acting as another factor accelerating the market growth. Apart from this, the surging number of connected devices, increasing research and development (R&D) activities, and the advent of fifth-generation (5G) technology are creating a positive outlook for the market.
IoT Gateway Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the IoT gateway market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Key Market Segmentation:
Breakup by Component:
Breakup by Connectivity Type:
Breakup by End User:
Breakup by Region:
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Key Highlights of the Report:
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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