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Global Industrial IoT Gateway Market - Drivers and Forecast from TechnavioTechnavio analysts forecast the global industrial IoT gateway market to grow to USD 1,390.2 million by 2021, at a CAGR of close to 15% over the forecast period, according to their latest report. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170420005801/en/ 
Technavio has published a new report on the global industrial IoT gateway market from 2017-2021. (Graphic: Business Wire) The research study by Technavio on the global industrial IoT gateway market for 2017-2021 provides a detailed industry analysis based on applications (remote monitoring, preventive maintenance, and product optimization), end-user (process industry and discrete industry), and geography (the Americas, EMEA, and APAC).
Looking for more information on this market? Request a free sample report Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. Technavio analysts highlight the following three factors that are contributing to the growth of the global industrial IoT gateway market:
Rising need to achieve competitive advantages "Many manufacturing industries are forming partnerships with major service providers with smart IoT and unified communication systems, to gain a competitive edge over their competitors," says Raghav Bharadwaj Shivaswamy, a lead analyst at Technavio for automation research. Industrial IoT gateways are mainly used for cost reduction, quality enhancement, and product differentiation in various end-user industries. Companies in the Industrial IoT ecosystem are implementing new business models through digital platforms to create values for customers and enhance their profitability. New technical advancements in industrial IoT gateways Technological advancements and innovations in gateway technology have led to its proliferation, which has augmented the availability and affordability of gateways across all industries. Gateway (News - Alert) technologies have advanced in terms of connectivity, performance, costs, and miniaturization, which has resulted in the increased demand for these products. The IoT connectivity has been shifting from wired to wireless connections such as Bluetooth, Wifi, ZigBee (News - Alert), and other technologies, boosting the demand for advanced IoT gateways. In an industrial Internet setup, gateways boost enterprise mobility, remote monitoring, secure data exchange, consolidate data, and remote system control. Increased amount of data generation due to industrial IoT "The rise in the number of connected devices globally has led to massive amounts of data generation. Businesses are using this data to optimize their processes by adopting analytics to optimize costs, enhance delivery services, and boost revenues," says Raghav. Companies are introducing advanced IoT gateways to deal with large amounts of data in automation and flexible production techniques by enhancing productivity. Also, in the infrastructure industries, such as water and power, the data exchanged through gateways can be used to prevent machine failures and related damages. Browse Related Reports:
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View source version on businesswire.com: http://www.businesswire.com/news/home/20170420005801/en/ |
