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APAC IoT Gateway Market size to cross $4bn by 2026
Published Date: 2021-02-08
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APAC IoT Gateway Market size is poised be reach USD 4 billion by 2026, according to a latest forecast report by Graphical Research. The industry shipments are projected to exceed 12 million units by 2026.
The market revenue growth is owing to the rapid adoption of technology across the regional manufacturing industry. Initiatives in countries including India, Singapore, South Korea, and others will augment IoT implementation in Asia Pacific. In February 2019, the Government of Singapore released a guide stating that IoT cyber securities will enhance the security of IoT connected devices.
The Multipoint Control Unit (MCU) component segment accounted for over 35% Asia Pacific IoT gateway market share in 2019 and is anticipated to grow at a CAGR of 15% through 2026 due to the rising adoption of smart homes and connected devices across the region. MCUs are embedded in IoT gateway devices, which offer high flexibility in single integrated chips used in IoT architecture. These units are responsible for data management functions such as data acquisition, storage, and diagnostics. They offer highly secure connectivity to the cloud platform with multi-layer authentication and authorization. Enhanced capabilities on account of compact design and smart functioning increase the growth opportunities for control units in IoT connected wearables including fitness watches, glasses, and others. Microcontrollers in gateway devices are integrated with small Application-Specific Integrated Circuits (ASICs), which can be assigned to provide application-specific features such as to monitor & control data.
Browse detailed statistical insights from the report, “Asia Pacific IoT Gateway Market Size By Component (Multipoint Control Unit, FPGA, Sensor, Memory), By Connectivity Technology (Bluetooth, Wi-Fi, ZigBee, Ethernet, Z-Wave), By Application (Wearable Device, Healthcare, Automotive & Transportation, Building Automation, Industrial, Consumer Electronics), Research Report, Regional Landscape, Growth Prospects, Price Trends, Competitive Industry Share & Forecasts, 2020 – 2026” along with the table of contents (ToC) @
The building automation application segment held a market share of over 10% in 2019 and is estimated to expand at around 15% CAGR from 2020 to 2026. IoT technologies integrated with building automation systems offer facilities such as centralized collection and control of data generated by electronic devices. IoT sensors attached to buildings provide improved energy efficiency, service innovation, and facility management, among others. The integration of IoT technology enhances the operating life of building management systems while reducing the cost and risk of manual labors. Several industry players are involved in providing various products for building automation systems, thus extending their sales overseas.
China IoT gateway market dominated around 50% revenue share in 2019 and will register growth of 15% during the forecast period driven by rising government initiatives & investments focused on the development of local products, providing an advantage to regional players of the country. For example, the Made in China 2025 initiative encourages the domestic production of IoT-enabled electronic devices. It also offers a reduction in the cost of raw materials & electronic components, such as processors, sensors, MCUs, and others, and the high availability of low-cost labor. Industry players are establishing partnerships with Chinese regional players for extending their businesses.
Major players in the IoT gateway devices market are extensively focusing on strategic investments to innovate products, stay competitive, and expand footprints across the globe. For instance, in April 2020, Aaeon Technology Inc. launched new rugged embedded platforms, which will be powered by the NVIDIA Jetson platform. These platforms will offer interfaces for the latest edge computing technologies such as AI & IoT. In April 2019, Advantech launched the modular data collection gateway - WISE-710 specifically for edge IoT applications, which was powered by NXP Semiconductor.
The APAC IoT gateway market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million & volume in Units from 2016 to 2026 for the following segments:
Asia Pacific Market, By Connectivity Technology
Asia Pacific Market, By Component
- Multipoint Control Unit (MCU)
- Field Programmable Gate Array (FPGA)
Asia Pacific Market, By Application
- Wearable device
- Automotive & transportation
- Building automation
- Consumer electronics
The above information has been provided for the following countries:
- Asia Pacific
- South Korea