"Unlocking the Future: Explore the Latest Insights on IoT Node and Gateway Market Size, Share, and Industry Growth! 🌐📈
By 2027, the market for IoT nodes and gateways is anticipated to have grown to USD 566.4 billion, with a cumulative annual growth rate (CAGR) of 6.7%.
#IoTnode and #gateway market expansion is primarily being driven by the introduction of #5Gtechnology, expanding use of wireless smart networks and sensors, expanding market for connected devices, growing need for #datacenters as a result of growing cloud platform adoption, and other factors.
During the forecast period, the #connectivity IC segment is expected to hold the greatest share of the IoT node and gateway market.
The IoT node and gateway market has been divided into #processor, #sensor, connectivity IC, #memorydevice, and logic device segments based on hardware. In terms of volume, the connectivity integrated circuit (IC) category accounted for the greatest portion of the IoT node and gateway market.
The main drivers driving the expansion of the connection integrated circuit (IC) market are the growing need for improved connectivity for edge devices and the notable advancements in low-power connectivity technologies like #WiFi, #Bluetooth, and Bluetooth Low Energy (BLE).
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During the projected period, consumer applications are expected to hold the greatest share of the IoT node and gateway market.
The IoT node and gateway market has been divided into industrial and consumer segments based on end-use application. Throughout the projection period, consumer applications accounted for the greatest portion of the IoT node and gateway market. The development of numerous Internet-connected consumer appliances and smartphones is anticipated to propel the Internet of Things (IoT) market expansion in the consumer electronics industry.
The IoT node and gateway market is anticipated to develop at the fastest rate in APAC over the projected timeframe.
In the IoT node and gateway market, APAC is anticipated to develop at the fastest rate between 2021 and 2027. Some of the major factors supporting the expansion of the IoT node and gateway market in APAC include the expanding internet's penetration into both residential and commercial areas, a wide range of consumers, rising disposable income, and improving IT infrastructure. In addition, the market for IoT nodes and gateways for commercial applications is expected to rise at a significant rate due to the growing trend of industrial automation and the use of cloud-based services in nations like China, South Korea, and Japan.
Driver: The introduction of 5G technologies
Over the past ten to fifteen years, developed regions like North America and Europe have seen a significant growth in the rate of Internet penetration. Positive effects on the Internet of Things industry are probably in store for the upcoming rollout of 5G, or the fifth generation of cellular mobile communications. The primary reason for this is that 5G networks will significantly enhance the dependability and performance of these interconnected devices. The requirement for a more rapid and capacious network to meet connectivity demands will be met by 5G. The frequencies available for data transport by digital cellular technologies are expanded by the 5G spectrum.
In conclusion, the emergence of 5G technology is set to redefine the IoT landscape, bringing unparalleled connectivity, job opportunities, and economic growth. However, challenges surrounding security, privacy, and power consumption must be addressed to fully harness the potential of this revolutionary technology. With governments backing IoT innovation, the future is bright, promising a world where IoT devices seamlessly improve our lives.