The market for IOT node and gateway 2020 can touch an approximate valuation of USD 17
Billion by the end of 2023, says Market Research Future (MRFR). The market is estimated to
procure a growth rate of 29% between 2017 and 2023, which is the evaluation period.
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Top Boosters and Main Challenges
IoT node and gateway holds significant potential, which boosts its use in various industries
like retail, defense, aerospace, BFSI and more. The expanding IP address space, enhanced
security provided by IPv6, and the rising internet connectivity all over the world stimulates
the growth of the market for IoT node and gateway. The surge in government-backed
initiatives and the advancements in the IT infrastructure, mostly in developing countries like
India, Brazil, and China, are some other growth inducers in the market. In the years to come,
surging deployment of wireless sensors, rising use of microcontroller units, and improving
internet connectivity can also benefit the worldwide market.
The mounting production as well as the shipment of various logics devices backed by the
rising demand for wearable devices by the expanding population of tech savvy consumers
also works wonders for the market. Wearable technology has gained substantial ground in
recent years, especially in Brazil, India and China, leading the IoT node and gateway market
to greater heights.
Increasing use and advancements in the connectivity technology like Zigbee, Bluetooth, near
field communication technology and Wi-Fi are the top trends currently prevalent in the
node and gateway industry.
IOT Node and Gateway market segmentation comprises components and end-user
IOT node & gateway market, in terms of components, are sensor, hardware, wireless,
memory devices and connectivity. The hardware segment covers processor, sensor, wired,
wireless, memory device and connectivity IC. Between these, the segment of connect