IoT Gateway Market Regional Revenue, Trends, Opportunities and Future Prospects
The development of connected appliances by business organizations is increasing and the whole ecosystem surrounding them is also growing remarkably. As IoT gateway structures the center piece in the building block for IoT, soaring development of connected appliances is supporting the growth of IoT gateway market globally.
IoT is proving to be a rising technology and is being rapidly adopted worldwide. IoT gateways are being considered as a fundamental element for carrying traditional and next generation devices to the Internet of Things. IoT gateways execute several functions, including protocol translation, device connectivity, data filtering, and security.
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IoT gateways accommodate protocols for networking, manage repository and edge analytics on the data, and help data flow securely between devices and the cloud. Increase in internet connectivity, uninterrupted increase in requirement of smartphones and other related devices, and increase in the use of wireless sensors and its networks are some of the major factors propelling the growth of global IoT gateway market.
IoT helps the building management companies by controlling millions of square feet of office and industrial space from a remote location using a scattered IoT network of sensors and controllers connected via cloud.
North America is expected to contribute the largest revenue to the global market for IoT gateway by 2022; however, the market for IoT gateway is expected to register the fastest growth rate in Asia-Pacific, during the forecast period.
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The IoT gateways ecosystem comprises component providers, distributors, network operators, network providers, and IoT system integrators. Some of the key players in the global IoT gateways market include Intel Corporation, Mitsubishi Electric Corporation, NXP Semiconductors N.V., Super Micro Computer, Inc. and Super Micro Computer, Inc. among others.
Global IoT Gateway Market Segmentation
