Industrial Iot Gateway Market Size, Share, Growth, and Industry Analysis, By Type Processor, Sensor, Connectivity IC, Memory Device, and Logic Device), By Application (Building Automation, Oil & Gas, Agriculture, Manufacturing, and Logistics) and Regional Insights and Forecast To 2031

Updated On: 29 April 2024

INDUSTRIAL IOT GATEWAY MARKET REPORT OVERVIEW

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The global industrial iot gateway market size was USD 1327.8 million in 2022 and will touch USD 2719.1 million by 2028, exhibiting a CAGR of 12.7% during the forecast period.

A specialized device known as an Industrial Internet of Things (IIoT) gateway acts as a link between industrial settings' IoT devices and the larger network infrastructure. These gateways gather information from different machines, sensors, and other networked devices, process it locally, and then safely send it to on-site data centers or the cloud for additional investigation and processing. They frequently offer edge computing, data filtering, security, and protocol translation, enabling dependable and effective communication amongst the wide variety of devices present in industrial settings. IIoT gateways are essential for providing real-time industrial process monitoring, control, and optimization, which improves productivity, safety, and operational efficiency.

The marketplace for IIoT entrances has actually been experiencing considerable development driven by the boosting fostering of IoT modern technologies throughout different sectors such as production, power, transport, and also health care. Elements such as the expansion of linked tools, the need for anticipating upkeep services, coupled with the demand for smooth combination of tradition systems with modern-day IoT systems are driving the marketplace growth. Furthermore developments in interaction methods, side computer abilities coupled with cybersecurity steps are even more sustaining the need for IIoT entrances. With the recurring electronic change initiatives in markets worldwide the IIoT entrance market is anticipated to proceed its development trajectory using significant chances for suppliers and also stakeholders in the coming years.

COVID-19 Impact: The Pandemic declined the Market Growth Due to the Supply Chain Disruption

The global COVID-19pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market growth and demand returning to pre-pandemic levels.

The pandemic has had a variety of impacts on the industrial iot gateway market growth. Menwhile the adoption of iiot solutions has accelerated as industries look to digitize operations, improve remote monitoring capabilities, and ensure business continuity despite lockdowns and social distancing measures.This surge in demand was especially evident in sectors such as manufacturing, logistics, and healthcare, where IIoT gateways play a critical role in real-time data collection and analysis.However, supply chain disruptions, economic uncertainties, and budget constraints are also hampering market growth to some extent, leading to delays in project implementation and investment decisions.

LATEST TRENDS

"Using Advanced Materials Leads to Market Growth"

The IIoT Gateway market has been encountering an eminent trend towards improved network, interoperability and edge computing capabilities. The IIoT gateways are advancing to oblige the developing complexity of mechanical situations,empowering consistent integrationof different gadgets and frameworks whereas guaranteeing productive information preparation and analytics at the arrange edge. Additionally, there is a developing accentuation on security highlights to protect delicate mechanical information and moderate cyber dangers. Moreover, the selection of progressed innovations as AI and machine learning inside IoT doors is picking up footing, enabling organizations to open unused bits of knowledge and optimize their operations. 

INDUSTRIAL IOT GATEWAY MARKET SEGMENTATION

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By Type

Based on type the global market can be categorized into Processor, Sensor, Connectivity IC, Memory Device, and Logic Device

• Processor: Within Industrial IoT systems, these devices manage processes and carry out algorithmic tasks related to data processing.

• Sensor: In industrial settings, sensors gather a variety of data from the physical world, including temperature, pressure, and vibration, to allow for real-time monitoring and analysis.

• Connectivity ICs: These integrated circuits provide data sharing and remote network control by enabling smooth connectivity between cloud platforms, gateways, and Internet of Things devices.

• Memory Device: For Industrial IoT applications, memory devices provide information accessibility and dependability by storing crucial settings and data.

• Logic Device: In Internet of Things networks, logic devices coordinate communication protocols, process data streams, route traffic, and guarantee that all connected devices function as intended.

By Application

Based on application the market is classified into Building Automation, Oil & Gas, Agriculture, Manufacturing, and Logistics.

• Building Automation: To connect different building systems, such as lighting, HVAC, and security, IIoT gateways are used. This allows for centralized monitoring and management for better occupant comfort and energy efficiency.

• Oil & Gas: IIoT gateways let the oil and gas industry integrate disparate equipment and sensors, allowing for predictive maintenance, real-time production process monitoring, and operational safety.

• Agriculture: To optimize irrigation, fertilization, and pest control for higher agricultural production and resource efficiency, farmers use these gateways to gather data from sensors monitoring soil moisture, temperature, and crop health.

• Manufacturing: IIoT gateways at manufacturing facilities collect data from production lines, equipment, and other sources. This data enables quality control, process optimization, and predictive maintenance, which increase efficiency and decrease downtime.

• Logistics: By tracking cargo in route, keeping an eye on vehicle performance, and optimizing route planning, IIoT gateways significantly contribute to logistics by improving supply chain visibility, efficiency, and customer happiness.

DRIVING FACTORS

"Integration of Technologies Leads to an Increase in Market Demand"

Industrial IoT gateway market act as a scaffold between traditional industrial frameworks and current IoT stages. As ventures progressively take on IoT answers for further develop proficiency, efficiency, and wellbeing, the requirement for consistent coordination with existing foundation becomes vital. Modern IoT Passages work with this joining by giving similarity and interoperability different conventions, correspondence principles, and inheritance hardware. The capacity of passages to empower correspondence between heterogeneous gadgets and frameworks speeds up IoT reception in modern settings.

"Edge Computing Features Accelerate Market Growth"

They have significant actional capacities that make use of normal industrial IoT gateways for the purpose of facilitating the processing and analysis of data closer to the edge or to the source. For instance: The rising use of IoT devices that generate immense amounts of data has made the edge computing provided by Industrial IoT Gateways more pertinent: better performance with regards to the network, aiding in security, and ensuring fast insights and actions on an industrial scale.

RESTRAINING FACTORS

"Strict Rules and Regulations Slow Down the Market Growth"

The industrial IoT gateway market is being held back in part by the disarray and intricacy of standards and protocols. Industrial settings frequently include a variety of systems and equipment from several manufacturers, all of which have exclusive communication standards and protocols. It becomes difficult and costly to integrate these disparate systems through gateways into a coherent IoT network. The requirement for significant customization, compatibility problems, and interoperability challenges add layers of complexity that prevent mainstream use. This fragmentation limits the Industrial IoT gateway market by raising deployment costs and making maintenance and scaling more difficult.

INDUSTRIAL IOT GATEWAY MARKET REGIONAL INSIGHTS

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"North America to Dominate the Market due to its Strong Manufacturing Sector"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America is the dominant geographic region with a larger Industrial IoT gateway market share. North America, and especially the United States, accounted for a sizeable portion of the Industrial Iot gateway market thanks to its well-developed industrial sector, sophisticated technical infrastructure, and strong emphasis on digital transformation. Early IIoT technology adoption across a variety of sectors, including industry, energy, healthcare, and transportation, benefitted the area. North America holds a dominant position in the worldwide IIoT Gateway market, owing in part to its substantial R&D efforts, strategic alliances among major market players, and favorable regulatory framework.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

Important participants in the Industrial IoT gateway market include well-known hardware producers with an emphasis on industrial-grade parts, creative software developers building reliable IoT platforms and analytics tools, and integrators providing end-to-end implementation and support services. In the industrial IoT ecosystem, there are also niche firms that concentrate on particular verticals or functionality. Examples of these players are edge computing experts and security suppliers. In order to promote industry standardization and interoperability and enable smooth connectivity and data sharing in industrial settings, cooperation across various stakeholders is essential.

List of Market Players Profiled

• AAEON (Taiwan)
• ADLINK (Taiwan)
• Advantech (Taiwan)
• Dell (U.S.)
• Hewlett Packard Enterprise (U.S.)
• Cisco (U.S.)
• Huawei (China)
• Siemens (Germany)
• Eurotech (Italy)
• Lantronix (U.S.)

INDUSTRIAL DEVELOPMENT

July 2023: - To enable cross-border online business services, Advantech launched IoTMart International, a new digital commerce platform. The distribution model that Advantech currently uses is enhanced by this platform. It is specially made to meet the various demands of various clientele groups, with a special emphasis on small- and medium-sized clients.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence the market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.