IoT Node And Gateway Market Size To Reach $1.13 Trillion By 2030

IoT Node And Gateway Market Growth & Trends

The global IoT node and gateway market size is expected to reach USD 1.13 trillion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 13.1% from 2023 to 2030. The market's growth is primarily fueled by the advent of 5G technology, the increasing utilization of wireless smart sensors and networks, a burgeoning market for connected devices, and the rising demand for data centers driven by the growing adoption of cloud platforms. For instance, in August 2023, Intel Corporation launched its new leading-edge chip factories at its Ocotillo campus in Chandler, Arizona. The new factories will support the growing demand for Intel’s products and provide committed capacity for Intel Foundry Services customers, thereby driving market growth over the forecast period.

The growing need for data-driven insights and automation drives the increased demand for connected devices. In sectors like healthcare, the Internet of Things (IoT)-enabled medical devices can monitor patients' vital signs in real time, providing doctors with accurate and timely information for diagnosis and treatment. In agriculture, field sensors can collect data on soil moisture, temperature, and nutrient levels, enabling farmers to make informed decisions about irrigation and fertilization.

IoT devices and gateways often operate in remote or challenging environments where wired connections are impractical. 5G’s broader coverage and improved penetration capabilities ensure that even devices in difficult-to-reach areas can stay connected, enabling applications like smart agriculture, environmental monitoring, and wildlife tracking. 5G mMTC (Massive Machine-Type Communications) capability allows for the seamless connection of many IoT devices within a small geographical area.

Manufacturing industries are embracing IoT nodes and gateways to create smarter factories with real-time monitoring of equipment and production lines, optimizing efficiency and reducing downtime. The need for real-time data processing has led to the adoption of edge computing. IoT gateways play a pivotal role by performing data preprocessing at the edge, reducing latency, and enhancing overall system responsiveness.

North America has been at the forefront of technological innovation, with a robust ecosystem of tech companies, startups, and research institutions. This environment has fostered the development of innovative IoT solutions, making it an ideal market for adoption. The region has quickly embraced emerging technologies such as 5G, edge computing, and AI, which are essential for IoT deployments. In January 2023, Cisco Systems Inc. extended its collaboration with the Grand Duchy of Luxembourg. The aim of this collaboration is to continue to support Digital Luxembourg, the Grand Duchy’s long-term digitalization movement.

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IoT Node And Gateway Market Report Highlights 

• North America has solidified its position as a key hub for IoT innovation and adoption, due to the advancing technological infrastructure, strong investment in IoT solutions across various industries, and a thriving ecosystem of IoT-related companies

• Advancements in microelectronics have led to smaller, more power-efficient IoT nodes. This enables seamless integration into various devices and environments while extended battery life reduces maintenance needs

• The growth of smart homes worldwide has been a remarkable phenomenon in recent years. Smart homes are equipped with advanced technology that enables homeowners to control their home systems remotely

• The key industry players are Intel Corporation, Cisco Systems, Inc., Huawei Technologies Co. Inc., and NXP Semiconductors, among others. To maintain market share, major firms frequently engage in mergers and acquisitions as well as new product launches

IoT Node And Gateway Market Segmentation

Grand View Research has segmented the IoT node and gateway market based on component, connectivity, end-use, and region:

IoT Node & Gateway Component Outlook (Revenue, USD Billion, 2018 - 2030)

• Hardware

  • Connectivity Integrated Circuits (ICs)

  • Logic Devices

  • Memory Devices

  • Processors

  • Sensors

    • Temperature Sensors

    • Motion Sensors

    • Light Sensors

    • Others

• Software

• Services

IoT Node & Gateway Connectivity Outlook (Revenue, USD Billion, 2018 - 2030)

• ZigBee

• Wi-Fi

• Bluetooth

• Z-Wave

• Others

IoT Node & Gateway End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Consumer Electronics

• Wearable Devices

• Automotive & Transportation

• BFSI

• Healthcare

• Retail

• Building Automation

• Oil & Gas

• Agriculture

• Aerospace & Defense

• Others

IoT Node & Gateway Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • U.K.

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

• Latin America

  • Brazil

  • Mexico

• Middle East and Africa

  • South Africa

  • UAE

List of Key Players in Internet of Things (IoT) Node And Gateway Market

• Cisco Systems Inc.

• Sierra Wireless

• Intel Corporation

• IBM Corporation

• Huawei Technologies Co. Ltd.

• Dell Technologies Inc.

• Advantech Co. Ltd.

• NXP Semiconductors N.V.

• Eurotech

• Particle Industries Inc.

• Helium

• Laird Connectivity

• Robert Bosch GmbH

• STMicroelectronics N.V.

• Texas Instruments Incorporation