Market Research Future (MRFR) says that the global IoT gateways market could exhibit a CAGR of 16.9% during the forecast period (2018-2023). It is poised to touch a valuation of USD 15.59 billion by 2023, adds MRFR.

Market Segmentation

Types of IoT gateways mentioned in the report are rugged, lightly rugged, compact, and ultra-compact. The compact segment could be worth USD 6.04 billion by 2023. The rising use of IoT based devices combined with the soaring demand for high-speed Internet will help the segment achieve a CAGR of 18.1% during the forecast period. The rugged segment is estimated to display a CAGR of 17.1% during the given timeframe.

Components covered by the MRFR report are microcontroller unit (MCU), field-programmable gate array (FPGA), memory card, sensor, and others. The sensor segment could reach the valuation of USD 5.23 billion at a growth rate of 18.2% during the forecast period. The segmental control over the market is the result of the rising integration of sensors in IoT devices in industrial network architecture along with other smart devices. Also, mounting demand for wearables could have a significant impact on the segment in the years ahead.

Connectivity-wise, the market covers Wi-Fi, Bluetooth, Ethernet, ZigBee, cellular, and others. The Wi-Fi segment is estimated to be worth USD 3.42 billion by 2023, growing at a rate of 15.24% during the evaluation period. Rising use of Wi-Fi in monitoring systems across various industries, as it ensures seamless transmission of data could benefit the segment in the subsequent years.

Major applications covered by MRFR are building automation, consumer electronics, wearable devices, automotive and transportation, industrial, healthcare, and others. The industrial segment size could be around USD 2.89 billion by 2023 and could achieve a CAGR of 14.62% during the conjectured timeframe. Emergence of industrial IoT (IIoT) has induced the demand for IoT gateways. In addition, rising use of this technology to automate significant processes and bring down the production costs could leave a lucrative effect on [FURL=https://www.marketresearchfuture.com/reports/iot-gateways-market-2956]IoT Gateways Market[/FURL]. The automotive and transportation segment could develop at a rate of 19.1% during the appraisal period on account of its application in emission levels and monitoring fuel.

Key Companies

Key companies contributing to the worldwide IoT gateways market are NEC Corporation (Japan), Dell Technologies (U.S.), Siemens AG (Germany), Sierra Wireless, Inc. (Canada), Cisco Systems, Inc., (U.S.), Lantronix Inc. (U.S.), Robert Bosch GmbH (Germany), Toshiba Corporation (Japan), Hewlett Packard Enterprises Company (U.S.), Mitsubishi Electric Corporation (Japan), Fujitsu Ltd. (Japan), Huawei Technologies Co. Ltd. (China), Eurotech SPA (Italy), to mention a few.

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