IoT Node and Gateway Market Size, Share, Growth Analysis, By Component(Hardware - Processors (Microcontroller Unit (MCU), Microprocessor Unit (MPU), Digital Signal Processor (DSP), Application Processor (AP))), By End User Application(Industrial (Healthcare {Device types [Fitness and heart rate monitors, Blood pressure monitors, Blood glucose meters, Continuous glucose monitors), By Region - Industry Forecast 2024-2031

Global IoT node and gateway market size was valued at USD 412.60 billion in 2022 and is poised to grow from USD 465.41 billion in 2023 to USD 1219.86 billion by 2031, growing at a CAGR of 12.8% in the forecast period (2024-2031). 

The competitive landscape of the IoT node and gateway market is characterized by strategic partnerships, collaborations and alliances between key players. These partnerships are crucial for technological innovation, market expansion and comprehensive IoT solutions. An exemplary example of such a partnership is the work of Cisco Systems, Inc.; and Microsoft Corporation. In recent years, Cisco, a leading provider of networking and cybersecurity solutions, has partnered with Microsoft, a global leader in software and cloud services, to provide enhanced IoT solutions for its customers. The partnership aims to provide easy communication and improved security and analytical capabilities among companies across sectors. 'Intel Corporation (United States) ', 'Qualcomm Technologies, Inc. (United States) ', 'Texas Instruments Incorporated (United States) ', 'STMicroelectronics (Switzerland) ', 'Microchip Technology Inc. (United States) ', 'Huawei Technologies Co., Ltd. (China) ', 'NXP Semiconductors N.V. (Netherlands) ', 'Cisco Systems, Inc. (United States) ', 'Hewlett Packard Enterprise Development LP (United States) ', 'TE Connectivity Ltd. (Switzerland) ', 'Advantech Co., Ltd. (Taiwan) ', 'Dell Technologies (United States) ', 'Siemens (Germany) ', 'Helium Systems Inc. (United States) ', 'Samsara Networks Inc. (United States) ', 'Beep Inc. (United States) ', 'Estimote, Inc. (United States) ', 'AAEON Technology Inc. (Taiwan) ', 'Nexcom International Co., Ltd. (Taiwan) ', 'Eurotech (Italy) ', 'Adlink Technology Inc. (Taiwan) ', 'Mitsubishi Electric Corporation (Japan) ', 'Lantronix, Inc. (United States)'

One of the major drivers for the IoT Node and Gateway market is the rapid pace of technology and increasing Internet speeds with the advent of 5G networks and higher data transfer capacity, lower latency and more device connectivity. This connectivity is essential for the seamless operation of IoT devices, enabling advanced real-time analytics and decision-making processes in industries such as healthcare, manufacturing, and smart cities.

Rise in the Edge Computer Networking: A major trend in the IoT node and gateway market is the integration of edge computing. As the amount of data generated by IoT devices grows exponentially, it becomes necessary to process this data at the edge closer to the point of production rather than to centralized cloud servers. Edge computing reduces latency, it provides data processing speed increases, improving the performance of IoT systems. These characteristics are particularly useful for applications that require real-time operations and rapid decision-making such as autonomous vehicles, industrial automation and smart-city infrastructure.

North America dominated the IoT node and gateway market by 2022 with more than 36.0% revenue share. The region is at the forefront of technological innovation, with a strong ecosystem of technology companies, start-ups and research institutes. This situation has led to the development of sophisticated IoT solutions, making it an ideal market for adoption. The region has been quick to adopt emerging technologies such as 5G, edge computing and AI, which are essential for IoT deployments.