New York, NY, Sept. 17, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Industrial IoT Gateway Market By End-User (Discrete Industry and Process Industry): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global industrial IoT gateway market was USD 940 million in 2018 and is expected to reach around USD 2,100 million by 2025, at a CAGR of 12.5% between 2019 and 2025.
The internet of objects (IoT) portal is a software or physical device that connects the cloud and devices, sensors, and smart devices. The gateway, which is either a particular software or hardware program, is accessible to all the data moving to the cloud. An intelligent gateway or a control tier may be referred to as an IoT gateway. Some sensors produce tens of thousands of points of data per second. A portal offers a pre-processing place for data to be sent locally on the edge of a cloud. When data is distributed, summarized, and analyzed in a strategic manner, it minimizes the amount of information to be sent to the cloud. This can have a significant impact on the response time and transmission of the infrastructural costs.
Browse through 16 Tables & 16 Figures spread over 120 Pages and in-depth TOC on “Global Industrial IoT Gateway Market Growth 2018 Report: Industry Type, Size, Share, Trends, Analysis, and Forecast to 2025”.
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The industrial IoT gateway market is anticipated to witness notable growth over the upcoming years, owing to the increasing demand for IoT gateways devices due to the increased data collection and analysis requirements to solve complex maintenance tasks. Several end-are users focusing on preventive maintenance, assisting to lower the idle time of production and increase efficiency, which, in turn, is favoring the industrial IoT gateway market globally. In addition, the growing need for IoT gateways to increase effective interaction between machines with larger data sets is likely to be observed in the years ahead. However, the data security concerns of sensitive data projects may limit the industrial IoT gateway market in the future.
The industrial IoT gateway market is classified based on end-user and region. By end-user, the industrial IoT gateway market is segmented into the discrete industry and process industry. Moreover, the process industry segment held the largest market share globally in 2018. Additionally, the discrete industry segment of the industrial IoT gateway market is anticipated to record a faster rate of growth in the upcoming years, owing to the increasing use of IoT-based sensors and robots by the automotive industry.
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North America held the largest share of the industrial IoT gateway market globally in 2018, due to the increasing use of IoT devices in various end-user industries and rising demand for data analytics in the region. Big data is playing an important role in industry 4.0. Furthermore, the increasing technological advancements across the region have resulted in the use of Artificial Intelligence in various industrial IoT applications, which will generate more opportunities for the industrial IoT gateway market.
Europe accounted for a considerable share in the global industrial IoT gateway market in 2018, due to the rising use of smart sensors and robots along with IoT sensors. Industrial IoT gateway is used for predictive maintenance in the manufacturing sector. Europe is a major automotive sector globally and has been increasingly using IoT in machine automation of inspection systems and production line in the manufacturing sector, which is majorly driving the region’s industrial IoT gateway market.
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The Asia Pacific will record the highest CAGR in the industrial IoT gateway market globally, owing to rapid industrialization in China, India, and South Korea. This region will witness further growth in the market for industrial IoT gateway in the future, as the regional production units are gradually adopting advanced technologies like cloud robotics.
Latin America held a considerable industrial IoT gateway market share in 2018 and is expected to show moderate growth over the forecast time period. The increasing investments made for developing industrial infrastructures in the emerging economies of Brazil, Chile, and Argentina will drive the industrial IoT gateway market in Latin America.
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The Middle East and Africa is projected to record slower growth in the industrial IoT gateway market as compared to other regions in the years ahead. Slow industrial development in South Africa is likely to hamper the region’s industrial IoT gateway market. Moreover, the Middle-Eastern economies are not dependent on manufacturing industry, which is likely to be another market restraint in the Middle East.
Some key players of the industrial IoT gateway market are Advantech, ASUSTeK, Dell Technologies, Cisco Systems, Hewlett Packard, NXP Semiconductors, Intel, and Mitsubishi Electric.
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This report segments the global industrial IoT gateway market into:
Global Industrial IoT Gateway Market: End-User Analysis
- Discrete Industry
- Process Industry
Global Industrial IoT Gateway Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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