The global IoT node and gateway market size was estimated at USD 419.62 billion in 2022 and is projected to reach USD 1.13 trillion by 2030, growing at a CAGR of 13.1% from 2023 to 2030. The market’s growth is primarily driven by the rapid proliferation of Internet of Things (IoT) applications across various sectors, including healthcare, manufacturing, agriculture, and smart cities.

A key factor fueling adoption is the need for efficient data collection, real-time monitoring, and seamless connectivity, which these technologies enable. Additionally, advancements in wireless communication technologies, such as 5G and artificial intelligence (AI), are enhancing the capabilities of IoT nodes and gateways, allowing for faster, more reliable, and secure data transfer. For instance, in June 2023, IBM Corporation announced the acquisition of Agyla SAS, a strategic move aimed at expanding IBM’s hybrid multi-cloud services portfolio and advancing the company’s hybrid cloud and AI strategy in the region.

The market landscape is also evolving with the emergence of Low-Power Wide-Area Network (LPWAN) technologies, including LoRa and Sigfox, which provide extended connectivity ranges and lower power consumption. Across sectors such as agriculture, logistics, and manufacturing, IoT nodes and gateways are transforming operational efficiency. Nodes equipped with sensors collect real-time data from the environment or industrial processes, while gateways ensure this data is securely transmitted to its destination, enabling timely and accurate decision-making.

Furthermore, recent developments include the integration of AI and machine learning into IoT nodes, which allows for intelligent data processing at the edge. This approach reduces latency, enhances decision-making capabilities, and supports autonomous operations, thereby meeting the growing industry demand for automation, efficiency, and real-time responsiveness.

Key Market Trends & Insights:

• In 2022, North America dominated the global Internet of Things (IoT) node and gateway market, driven by the region’s advanced technological infrastructure, high adoption of connected devices, and the presence of leading IoT solution providers.

• The Middle East and Africa (MEA) region is projected to grow at the fastest CAGR of 17.3% over the forecast period, reflecting the increasing adoption of IoT technologies across industries, growing investment in smart city initiatives, and the expanding demand for connected solutions in emerging markets.

• When analyzed by component, the hardware segment captured the highest revenue share of around 58% in 2022, highlighting the importance of physical devices, including sensors, gateways, and nodes, which are essential for data collection, transmission, and processing in IoT ecosystems.

• Based on end-use sectors, the consumer electronics segment accounted for the largest revenue share of around 19% in 2022, driven by the widespread adoption of smart home devices, wearables, and connected entertainment systems, which require robust IoT nodes and gateways for seamless connectivity and real-time monitoring.

• In terms of connectivity technology, the Wi-Fi segment captured the largest market share of over 36% in 2022, reflecting its ubiquity, ease of deployment, and capability to support a wide range of IoT devices across residential, commercial, and industrial applications.

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Market Size & Forecast:

• 2022 Market Size: USD 419.62 Billion

• 2030 Projected Market Size: USD 1.13 Trillion

• CAGR (2023-2030): 13.1%

• North America: Largest market in 2022

Key Companies & Market Share Insights:

The key players in the IoT node and gateway market often include technology innovators, solution providers, and research institutions, all of whom play a vital role in shaping the industry’s growth and technological advancements. While both hardware and software form the essential foundation of IoT ecosystems, the true value is increasingly determined by software capabilities, particularly in connectivity, interoperability, and security. These elements ensure that IoT networks function reliably, safeguard sensitive data, and enable seamless communication across devices.

At the center of this ecosystem, IoT platforms serve as the backbone, offering core functionalities such as device connectivity, remote device management, data analytics, and integration capabilities. These platforms not only streamline the management of vast networks of devices but also empower businesses to derive actionable insights from real-time data, enabling more informed decision-making and improved operational efficiency.

For example, in May 2023, Cisco Systems Inc. announced a strategic partnership with the United States Golf Association (USGA). Through this collaboration, both organizations aim to leverage Cisco’s advanced solutions, technological expertise, and innovative platforms to enhance the USGA’s technological infrastructure during championships. Additionally, the partnership seeks to foster greater innovation and inclusivity within the sport of golf, demonstrating how IoT and digital technologies can extend their influence beyond traditional industries into areas like sports and entertainment.

Key Players

• Cisco Systems Inc.

• Sierra Wireless

• Intel Corporation

• IBM Corporation

• Huawei Technologies Co. Ltd.

• Dell Technologies Inc.

• Advantech Co. Ltd.

• NXP Semiconductors N.V.

• Eurotech

• Particle Industries Inc.

• Helium

• Laird Connectivity

• Robert Bosch GmbH

• STMicroelectronics N.V.

• Texas Instruments Incorporation

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Conclusion:

The IoT node and gateway market is poised for strong expansion, fueled by widespread adoption of IoT across sectors (like healthcare, manufacturing, agriculture, and smart cities). Key growth drivers include demand for real-time data collection, improved connectivity frameworks (e.g. 5G and AI integration), emergence of low-power wide-area networks (LPWAN), and the push for edge intelligence in nodes. As the technology landscape evolves, the market will likely witness continued innovation in hardware, connectivity, and integrated software solutions to support scalable, secure, and efficient IoT deployments.