The global IoT gateway devices market accounted for USD 5500 Million in 2020 and is expected to reach USD 15,500 Million by 2028

SUITE N202, NEW YORK, UNITED STATES, October 4, 2022 /EINPresswire.com/ -- According to analysts at Zion Market Research, the global IoT gateway device accounted for more than USD 5.5 Billion in 2020 and is expected to reach more than USD 15.5 Billion by 2028, growing at a CAGR of 13.8% from 2021 to 2028.

Major companies in IoT gateway devices market are AAEON Technology, Inc., Advantech Co., Ltd., Avnet, Inc., Cisco Systems, Inc., Dell Technologies, Inc. amongst others. These players are set to bolster the development of global IoT gateway devices market.

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This review is based on a report by Zion Market Research, titled “IoT Gateway Devices by Connectivity (Bluetooth, Wi-Fi, ZigBee, Ethernet and Others), by End User (Industrial and Consumer), by Application (Wearable Device, Automotive, Building Automation and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.

” Adoption of 4.0 Technologies and Cyber Protection to Spur Growth

“The growing adoption of industry 4.0 technologies, the need for advanced network infrastructure security and cyber protection across various enterprises will garner the growth for IoT Gateway devices market in the years ahead,” says the author of this study. Apart from this, usage of IoT components sensors across various applications and increased adoption of Bluetooth technology are factors driving growth in this market throughout the forecast period.

The rising adoption of smart wearable devices that are enabled using IoT technology like smart glasses, fit bits, smart watches, etc., coupled with the increased usage of IoT components and sensors in applications like infotainment systems inbuilt in vehicles and self-driving cars are expected to create market opportunities for IoT gateways in the upcoming years.

Increased Government Spending In The Region Support Asia Pacific Growth

Regionally, Asia Pacific has been one of leading the worldwide IoT gateway devices market and is anticipated to continue to grow in the years to come, states the IoT gateway devices market study. The increase can be attributed to increased investments in initiatives of integrating IoT in public infrastructures and smart city development. The Asia Pacific market will gain an edge in IoT gateway devices due to the deployment of various government policies which are aimed at boosting cyber security.

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Browse the full “IoT Gateway Devices by Connectivity (Bluetooth, Wi-Fi, ZigBee, Ethernet and Others), by End User (Industrial and Consumer), by Application (Wearable Device, Automotive, Building Automation and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”

COVID-19 Impact Analysis
The COVID-19 pandemic has had a significant impact on the IoT gateway device market, as the majority of IoT application fields, such as transportation and industrial, have undergone strict lockdown scenarios in various countries across the globe. A drop in GDP is expected in many countries, limiting the introduction of emerging technology and investments in smart infrastructure.

On the other hand, the COVID-19 pandemic has accelerated the introduction of IoT technology in the healthcare market, boosting growth during the pandemic. The use of IoT gateway devices is being driven by many industry leaders' research and development initiatives and the adoption of new product strategies for the development of remote healthcare monitoring systems.

IoT Gateway Devices Market: Growth Factors
The adoption of IoT gateway devices is being aided by the rising demand for cyber protection and the enhanced need for advanced network infrastructure security across various businesses. These devices provide authentication of multiple levels as well as end-to-end encryption of data. The growing adoption of industry 4.0 technologies along with the increased adoption of Bluetooth technology by IoT devices in industries is amplifying the adoption of IoT gateway devices.

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By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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