[October 19, 2018] |
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Global Industrial IoT Gateway Market 2019-2023 | 14% CAGR Projection Over the Next Four Years | Technavio
Technavio
analysts forecast the global industrial IoT gateway market to grow at a
CAGR close to 14% during the forecast period, according to their
latest market research report.
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Technavio analysts forecast the global industrial IoT gateway market to grow at a CAGR close to 14% by 2023. (Graphic: Business Wire)
The increasing need for customized IoT gateways is one of the major
trends being witnessed in the global
industrial IoT gateway market 2019-2023. Vendors are
increasingly offering new features in their industrial IoT gateway
products with additional support tools to differentiate their products
in the market. The modular IoT gateways support different types of
wireless protocols such as Wi-Fi, Thread, and ZigBee (News - Alert). The availability
of multiple field device with different protocols has increased the need
for multi-protocol supporting gateways.
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According to Technavio analysts, one of the ky factors contributing to
the growth of the global industrial IoT gateway market is the increased
focus on edge computing:
Global industrial IoT gateway market: Increased
focus on edge computing
The availability of edge computing has eased the process of data
analysis by processing the data closer to the source or at the edge of
the network. This technology ensures that the local computing and
processing of data are complete, and the necessary data is sent to the
server. In industries such as oil and gas as well as metal and mining
where process operation is carried out at remote locations, the use of
edge computing provides the scope for making the essential data
available to locally installed servers, thereby eliminating latency.
According to a senior analyst at Technavio, "The increasing adoption
of IoT- connected devices has increased the need for edge computing and
Industrial IoT gateways to improve real-time data analysis. This
technology is confined not only to the IT industry but also to discrete
industries such as medical device manufacturing, automotive, and many
more."
Global industrial IoT gateway market:
Segmentation analysis
The global industrial IoT gateway market research report provides market
segmentation by end-user (process and discrete) and by region (the
Americas, EMEA, and APAC). It provides an in-depth analysis of the
prominent factors influencing the market, including drivers,
opportunities, trends, and industry-specific challenges.
Among the two major end-user segments, process and discrete, the process
segment accounted for the maximum share of more than 68% in 2018. The
process industries include oil and gas, power, food and beverage, water
and wastewater, petrochemical, mining, and marine. The dominance of the
segment is due to the high installed base of legacy automation systems
and instruments.
The Americas held the largest share of the market in 2018, accounting
for more than 40% share, followed by EMEA and APAC respectively.
Although APAC held the smallest share of the market, it is expected to
witness the maximum increase in its market share over the forecast
period.
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Some of the key topics covered in the report include:
Market Landscape
-
Market ecosystem
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Market characteristics
-
Market segmentation analysis
Market Sizing
-
Market definition
-
Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
-
Regional comparison
-
Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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Vendors covered
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Vendor classification
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Market positioning of vendors
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Competitive scenario
About Technavio
Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
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competitive positions within changing market scenarios.
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at [email protected].
View source version on businesswire.com: https://www.businesswire.com/news/home/20181019005413/en/
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