Pune, India -- (SBWIRE) -- 11/29/2017 -- Internet of Things (IoT) Gateways Market, Gateway Type (Lightly Rugged, Rugged, Compact, Ultra Compact), Connectivity Type (ZigBee, Wi-Fi, Ethernet, Bluetooth), Industry (Retail, Agriculture, Oil & Gas, Transportation) - Forecast 2023

Market Synopsis of IoT Gateways Market:

In this rapidly changing world of technology, the major driving forces for the growth of IoT Gateways Market are rising need to achieve competitive advantages, new technical advancements in industrial IoT gateways and increased amount of data generation due to IoT.

In the IoT ecosystem, automotive and transportation would have good prospects in the future. The data is collated from various sensors such as fiber optic cables and CCTV cameras, and the analytics of the real-time data is performed by back-end systems; taking into consideration the past data trends, future plans can be developed for the improvement of the traffic system. The power industry uses IoT for collecting data through advanced metering infrastructure and supervisory control and data acquisition (SCADA) systems to achieve optimized operations

Market Scenario:
An IoT gateway is a switching device used for aggregating, filtering, and processing sensor data by providing a highly-secured platform. The need for IoT gateways was realized as soon as the evolution of connected things gained momentum. IoT gateways performs several critical functions such as device connectivity, protocol translation, data filtering and processing, security, updating, management and more.

Advanced gateway platforms provide enhanced connectivity among internet devices by facilitating secure data exchange in the ecosystem. This results in effective solutions delivery for the distribution and monetization of new products and services. The demand for analytics has boosted the IoT gateway requirements, allowing real-time data transfer between machines and networks.

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The global IoT gateways market is expected to grow at approx. USD 9 Billion by 2023, at 14% of CAGR between 2017 and 2023.

Segments

IoT gateways market can be segmented on the basis of following:
By Gateway Type:
-Lightly Rugged
-Rugged
-Compact
-Ultra Compact

By Connectivity Type:
-Bluetooth
-Wi-Fi
-ZigBee
-Ethernet
-Z-Wave
-Others

By Industry:
-Manufacturing
-Utilities
-Healthcare
-Oil And Gas
-Transportation
-Retail
-Agriculture
-Metals And Mining

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Regional Analysis:
The regional analysis of IoT gateways market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America would dominate the IoT gateways market owing to increase in research and development in the field of internet of things and improved lifestyle. These are the two crucial factors that are driving the growth of the market in that region.

Due to increase in research and development area, there is a considerable growth in the application areas of internet of things gateways market. Moreover, advancements in the wireless communication technologies and convergence of IoT would further increase the growth of IoT gateways market.

Key Players:
The prominent players in IoT gateways market are – Eurotech (Italy), Samsara (U.S.), Hewlett Packard Enterprise Company (U.S.), Cisco Systems, Inc. (U.S.), Huawei Technologies Co. Ltd. (China), Sierra Wireless (Canada), Bitrective AS (Norway), Advantech Corporation (Taiwan), Advantech B+B Smartworx (U.S.), Volansys Technologies Pvt. Ltd. (U.S.) among others.