The global IIOT Gateway For Utility market has been growing significantly over the past few years. It is expected to reach USD 38.76 Billion by 2032, at a CAGR of 14.1% during the forecast period, 2022–2032.IoT Gateways are designed to securely connect to the internet/cloud using WiFi, LAN or cellular communication, this connectivity provides a solution to unlock meaningful data from these legacy devices. Industrial IoT Gateways bridge the gap between edge and cloud by collecting, processing, and standardizing data from sensors, I/O devices, and PLCs before sending it to the cloud. Industrial IoT Gateways enable a variety of functions to support greater efficiency in production environments by enabling connectivity among equipment, devices, and systems.
COVID-19 Impact vs Opportunities for Global IIOT Gateway for Utility Market:
Since the lockdown, all production industries had been closed, and the essential components of IoT systems are numerous sensors, without which the system cannot be deployed gets also hampered. Furthermore, the sensors are made in many locations throughout the world, making it impossible to export and import due to tight lockdown measures implemented by governments around the world, making raw material procurement extremely complex. Any system cannot come to life on its own without the whole set of raw materials, and system integration and system mating with the software is impossible. As a result, the expansion of the IoT market has reached a halt.
Various governments are implementing various programs to deploy smart meters across the country. The most popular utility IoT use case nowadays is advanced metering infrastructure AMI via smart meters. Smart meters give utilities a direct path to offer value-added services to their customers, including immediate user feedback, adjustable rates, and smart home apps. Creating opportunities for market growth.
Market Dynamics:
Drivers:
In the forecast period, the advent of 5G technology is expected to propel the growth of the IIoT gateway for the utility market. 5G allows for more dependable, quicker, and secure communication. Because of 5G's increased bandwidth, more data can be transferred in a given amount of time, and its lower latency allows data to reach its destination faster.
Opportunities:
Various governments have pushed the adoption of disruptive technologies, such as the Internet of Things (IoT), to boost industrial automation across various enterprises. Governments throughout the world are implementing various incentive programs, including R&D funding, tax breaks, and the establishment of promotional ventures and platforms, to promote automation and thereby accelerate the adoption rate of industrial IoT gateway for utility.
Restraint:
IoT security is the act of protecting Internet devices and the networks to which they are connected from threats and breaches by protecting, identifying, and monitoring risks, as well as assisting in the repair of vulnerabilities from a variety of devices that can pose security risks to businesses.
Value Chain Analysis
The IIoT Gateway for the utility market value chain has evolved from a conventional approach to highly efficient supply chain processes. The value chain comprises hardware, software, and connectivity in its basic requirements, system integration in the second stage, and end-use.
Segment Overview
The global IIOT Gateway for Utility market has been segmented on the basis of components, connectivity technology, application, and region.
By component segment, the market is further bifurcated into Microcontroller Units, Field Programmable Gate Arrays, sensors, Memory, and Others. Among these segments, the microcontroller unit segment garnered a high market value of USD 14.3 million in 2021.
Based on connectivity technology, the market is further bifurcated into Bluetooth, Wi-Fi, ZigBee, ethernet, z-wave, and others.
Based on the application, the market is further bifurcated into power utilities, gas utilities, water utilities, transportation, smart cities, and others.
Based on region the market has been segmented into North America, Europe, Asia-Pacific, Middle East, and Africa, and South America.
Regional Analysis
The global IIOT Gateway for the Utility market has been studied across Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
North America accounted for the largest market share of USD 18.1 million in 2021. North America accounts for one of the largest market shares in the IIOT gateway for the utility market due to the presence of notable IIOT Gateway for Utility companies. The major players in IIOT Gateway for Utility have been working on the technology for well over the last many years.
Asia-Pacific is the fastest-growing market, and the Asia Pacific is expected to drive the market in the region. An increase in the integration of IoT technology in the utility industry is expected to create opportunities for the market in the Asia Pacific. Nearly 20 to 25% of the market's growth will originate from Asia-Pacific during the forecast period.
Competitive Landscape
The global market for IIOT Gateway for Utility is projected to witness healthy growth during the forecast period, owing to the emergence of 5G connectivity technology, and the growing use of IIOT gateway for the utility industry due to its various features.
Key players operating in the global IIOT Gateway for Utility market include:
- Intel Corporation (US)
- Cisco System, Inc. (US)
- Advantech Co., Ltd. (Taiwan)
- ASUS Tek Computer Inc. (Taiwan)
- Hewlett Packard Enterprise Co. (US)
- Huawei Technologies Co., Ltd. (China)
- Siemens AG (Germany)
- Super Micro Computer, Inc. (US)
- NXP Semiconductors (Netherlands)
- Dell Technologies Inc. (US).
Recent Developments
Cisco unveils Industrial IoT routers and gateways. The Cisco Catalyst IR1800 Rugged Series, IR8100 Heavy Duty Series, and IR8300 Rugged Series are the routers that have been made available. The three series were created to make it easier for businesses to meet IoT connectivity requirements. With Cisco's IOS XE operating system, these routers can be set up to access fast internet on smartphones, tablets, laptops, and desktop computers. On June 2021
Based on the powerful NVIDIA Jetson platform, ASUS announced PE1000N, an ultra-compact computer for AI inferencing at the edge. It features a fanless design for quiet operation, rich industrial connectivity for serious flexibility, and supports a wide range of power inputs and operating temperatures for maximum versatility and durability. On July 2022
Advantech announced that the Internet of Things (IoT) Greengrass program had accepted the UNO series of IoT gateways. AWS IoT Greengrass is an open-source edge and cloud solution for the Internet of Things, making it easier to manage and develop software for devices. On September 2022
Based on the powerful NVIDIA Jetson platform, ASUS announced PE1000N, an ultra-compact computer for AI inferencing at the edge. It features a fanless design for quiet operation, rich industrial connectivity for serious flexibility, and supports a wide range of power inputs and operating temperatures for maximum versatility and durability. On July 2022
Report Overview
As per MRFR, the global IIOT Gateway for Utility market has been growing significantly over the past few years. The global IIOT Gateway for Utility market has been segmented on the basis of components, connectivity technology, application, and region. Based on region, the graphical user interface design software market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Objective of the Study
- To provide a comprehensive analysis of the IIOT Gateway for Utility market and its sub-segments, thereby providing a detailed structure of the industry
- To provide detailed insights into factors driving and restraining the growth of the global IIOT Gateway for the Utility market
- To estimate the size of the global IIOT Gateway for Utility market where 2018 to 2020 would be the historical period, 2021 shall be the base year, and 2022 to 2030 will be the forecast period for the study
- To analyze the global IIOT Gateway for Utility market in five main regions, namely, North America, Europe, Asia-Pacific, the Middle East & Africa, and South America
- To provide country-wise market value analysis for various segments of the IIOT Gateway for the Utility market
- To provide strategic profiling of key companies present across the globe and comprehensively analyze their competitiveness/competitive landscape in this market
- To provide a value chain for the IIOT Gateway for the Utility market
Scope of the Report
The scope of the global IIOT Gateway for Utility market study includes the market size analysis and a detailed analysis of the vendor’s products and strategies. The global IIOT Gateway for Utility market has been segmented on the basis of components, connectivity technology, application, and region.
Intended Audience
- IIOT Gateway for Utility Administrators
- IIOT Gateway for Utility manufacturers and providers
- Consumer electronics industry
- Software integrators
- IT enterprises
- Technology investors
- Regulatory industries
- Government bodies
