The
IoT node and gateway market stood at 2.83 Billion units in 2016 and is
expected to reach 17.18 Billion units by 2023, growing at a CAGR of 30.9%
during the forecast period. The major drivers for the growth of the market is
the increasing demand for application-specific microcontroller units (MCUs) and
flexible System on Chip (SoC)-type designs, improved internet connectivity in
technologically advancing countries, and increased IP address space and
security solutions provided in IPv6.
Of
all the major end-use applications, retail held the largest share of the IoT
node and gateway market in 2016, in terms of volume. The growth of retail
end-use application was primarily due to the increasing adoption of IoT-enabled
products such as contactless checkout/PoS, digital signage, and smart tags.
The
BFSI end-use application is expected to grow at the highest CAGR in the IoT
node and gateway market from 2017 to 2023, followed by aerospace and defense.
Banks are trying to create intelligent and personalized customer cross-selling
opportunities. The mass adoption of online banking, contactless payment, and
mobile banking apps has increased significantly, thereby driving the growth of
the market for BFSI end-use application. On the basis of hardware, the IoT node
and gateway market has been segmented into processor, connectivity IC, sensor,
memory device, and logic device. The connectivity IC held the major market
share in 2016 and is expected to retain its position till 2023. The significant
recent development of IoT- enabled products is one of the key factors leading
to the dominance of this segment.
Of
all the regions, North America held the largest share of the IoT node and
gateway market in 2016, in terms of volume. An established IT ecosystem and
early adoption of various IoT-enabled products across multiple end-use
applications are the most prominent factors behind the growth of this region.
The market in Asia Pacific (APAC) is expected to grow at the highest CAGR from
2017 to 2023 because of the high consumer base, increasing disposable income,
and improving IT infrastructure, as well as the growing penetration of the
internet in commercial and residential spaces.
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The
companies that are profiled in the report are Intel Corporation (US), Huawei
Investment & Holding Co., Ltd. (China), NXP Semiconductor N.V.
(Netherlands), Texas Instruments Inc. (US), Cisco Systems Inc. (US), Hewlett
Packard Enterprise Co. (US), TE Connectivity Ltd. (Switzerland),
STMicroelectronics N.V. (Switzerland), Advantech Co., Ltd. (Taiwan), Dell Inc.
(US), Eurotech S.P.A (Italy), AAEON Technology Inc. (Taiwan), Adlink Technology
Inc. (Taiwan), NEXCOM International Co. Ltd. (Taiwan), Microchip Technology
Inc. (US), Notion (US), Helium System Inc. (US), Samsara Networks Inc. (US),
Estimote Inc. (US), and Beep Inc. (US).
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