Global Internet of Things (IoT) Node and Gateway Market to Reach $734.3 Billion by 2030
The global market for Internet of Things (IoT) Node and Gateway estimated at US$510.3 Billion in the year 2023, is expected to reach US$734.3 Billion by 2030, growing at a CAGR of 5.3% over the analysis period 2023-2030. IoT Connectivity IC, one of the segments analyzed in the report, is expected to record a 6.3% CAGR and reach US$278 Billion by the end of the analysis period. Growth in the IoT Processor segment is estimated at 4.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $154.9 Billion, While China is Forecast to Grow at 4.9% CAGR
The Internet of Things (IoT) Node and Gateway market in the U.S. is estimated at US$154.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$126.7 Billion by the year 2030 trailing a CAGR of 4.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5% and 4.2% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR.
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