IoT Gateway Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2031)

IoT Gateway Industry Overview

The market consists of long-standing established players, such as Cisco Systems Inc. and Dell Inc., which have made significant investments to improve product technology. The presence of these players and their constant innovative activities are intensifying the competition in the market studied. The players in the market are engaging in research in order to achieve a competitive edge by strengthening their distribution channels and presence, as well as by offering the latest specifications in their products. The companies are striving to expand their offerings in the market by employing powerful competitive strategies, such as partnerships and acquisitions. Owing to the capital-intensive nature of the market, the barriers to exit are considerably high. Hence, the players in the market are subjected to intense competition. Some other major players in the market include Advantech Co. Ltd, Microchip Technology Inc., Huawei Technologies Co. Ltd, etc.

• July 2023 - Advantech introduced a new digital commerce platform, IoTMart International, to facilitate cross-border online business services. This platform complements Advantech's existing distribution model. It is specifically designed to cater to the diverse requirements of different customer segments, particularly focusing on the needs of small and medium-sized customers.
• May 2023 - NTT Ltd, a company specializing in IT infrastructure and services, and Cisco joined forces to create and implement collaborative solutions that effectively aid the sustainability objectives of major organizations. By utilizing NTT's Edge as a Service portfolio and Cisco's IoT capabilities, the combined efforts of the two companies will deliver real-time data analysis, heightened security measures, better decision-making processes, and reduced operational expenses through predictive maintenance, asset tracking, and supply chain management capabilities.