by Brianna Crandall — April 20, 2016—According to a new market research report from MarketsandMarkets, growth in the Internet of Things (IoT) gateways market is being driven by expanded Internet connectivity, continuous growth in the demand for smart phones and other connecting devices, expansion in the use of wireless sensors and networks, and cloud computing technology becoming mainstream. The market is estimated to reach USD 12.64 billion by 2022, at a compound annual growth rate (CAGR) of 14.2% between 2016 and 2022.
#1 segment: Wearable devices
Wearable devices are expected to hold the largest share of the IoT gateways market by 2022. The major factors driving the wearable devices market for IoT nodes and gateways include the growing popularity of the Internet of Things and the increasing adoption of smart watches and activity trackers in consumer markets.
The major opportunities contributing to the growth of the market are the increasing adoption of wearable devices in multiple application areas such as medical and healthcare, industrial, and military, among others.
#2 segment: Building automation
The market for building automation is expected to be the second highest between 2016 and 2022, mainly because of the high demand for energy efficiency and security and safety required in buildings.
Moreover, advancements in the wireless communication technologies and convergence of IoT and building automation would further increase the growth of the building automation system (BAS) market.
North America to lead regions
The IoT gateways market in North America is expected to hold the largest share by 2022 owing to major driving forces — it is home to some of the largest multinational corporations such as General Motors and Cisco Systems, among others in the IoT ecosystem.
Increased research and development in the field of the Internet of Things in terms of new and improved technologies, as well as the increasing demand for improved lifestyle, are two crucial factors driving this market.
Major players
Major players involved in the development of IoT gateways are Intel Corporation (USA); Mitsubishi Electric Corporation (Japan); NXP Semiconductors N.V. (Netherlands); Super Micro Computer, Inc. (USA); ARM Holdings, Plc. (U.K.); and others.
This research report categorizes the global IoT gateways market based on end use and regions, and describes the drivers, restraints, opportunities, and challenges for the market. A Porter’s five forces analysis has been included with a description of each of its forces and their respective impact on the IoT gateways market.
The 199-page IoT Gateway Market by Nodes (Smart Watch, Camera, RADAR, Thermostat, Actuator, Smart TV), by Connectivity Technology (Bluetooth, WiFi, ZigBee, Ethernet, Z-Wave), by Component (MCU, FPGA, Sensor, Memory), by End-Use and Geography – Global Forecast to 2022 is available for purchase from the MarketsandMarkets Web site. Early buyers will receive 10% customization on reports.
