Global Industrial Iot Gateway Market 2017-2021
About Industrial IoT Gateway
An IoT gateway is a switching device used for aggregating, filtering, and processing sensor data by providing a highly-secured platform. IoT gateways are used in the industry for important applications such as device connectivity and protocol translation. As the trend for IoT is growing with the rising in number of connected devices, the demand for IoT gateways is increasing as well. The need for IoT gateways was realized when the evolution of connected things took the momentum since the last few years. The report segments the market based on types of applications, end-users, and geographical regions and provides the market share carried by each segment.
Technavio’s analysts forecast the global industrial IoT gateway market to grow at a CAGR of 14.71% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial IoT gateway market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial IoT Gateway Market 2017-2021
Technavio recognizes the following companies as the key players in the global industrial IoT gateway market: AAEON, ADLINK, Advantech, Dell, and Hewlett Packard Enterprise.
Other Prominent Vendors in the market are: Cisco, Huawei, Siemens, Eurotech, and Lantronix.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is increased demand for Big Data analytics. Big Data provides actionable insight by deriving meaningful information from a larger data set. Businesses have realized that they can use Big Data to achieve competitive advantages by optimizing cost structure and enhanced productivity. The power industry uses IoT for collecting data through advanced metering infrastructure and Supervisory control and data acquisition(SCADA) systems to achieve optimized operations. Similarly, Big Data helps analyze sensor data and initiates data collection for industrial equipment, such as oil refineries and turbines. In addition, it helps organizations in optimizing their business decisions and innovate new business models, products, and service offerings. Moreover, oil and gas, water treatment, and manufacturing and automation industries greatly benefit from stored data on which analytics is applied to derive actionable insights. The demand for analytics has boosted the IoT gateway requirements, allowing real-time data transfer between machines and networks.”
According to the report, one driver in market is rising need to achieve competitive advantages. Many manufacturers have shifted their focus toward measurable outcomes. In manufacturing industries, Internet services are mainly used for cost reduction, quality enhancement, and product differentiation. New levels of collaboration, such as the partnership of major service providers with smart IoT and unified communication systems, are needed to deliver measurable business outcomes. Advanced gateway platforms provide enhanced connectivity among Internet devices by facilitating secure data exchange in the ecosystem. This results in effective solutions delivery for the distribution and monetization of new products and services. Companies in the Industrial IoT ecosystem are implementing new business models through digital platforms to create values for customers and enhance their profitability. BMW has been successful in handling 3 times more cars than its competitors in its Munich repair facilities after the implementation of the IoT. This, resulting in maximum customer support, has provided the company with a competitive edge over other manufacturers.
Further, the report states that one challenge in market is extensive concern over data security. Data privacy is a major challenge for any organization to secure its information on both private and public networks. As the IoT is the medium of data transmission, a highly secured environment has become a concern for many manufacturers due to significant sets of data and connected devices. There is a high chance of interception or tampering with connections, which could further lead to data theft and breaches. Therefore, the IoT gateway vendors need to design Secure Socket Layer shields to prevent data theft. This has increased the complexity of IoT gateways, thereby, raising the cost. In addition, the data exchange process has become more vulnerable to hacking with the rise in the number of connected devices. Advancements in technology have also increased the number of hacking tools, resulting in continuous updating of IoT gateway's hardware and software. This further increases the spending on R&D to establish new security frameworks by providing application level security.
AAEON, ADLINK, Advantech, Dell, Hewlett Packard Enterprise, Cisco, Huawei, Siemens, Eurotech, and Lantronix.
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