LONDON--(BUSINESS WIRE)--The global industrial multiprotocol gateways market is expected to grow at a CAGR of approximately 14% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the growing prominence of IoT gateways. An IoT ecosystem comprises several layers such as the measurement component layer, collection and distribution layer, and analysis layer. Sensors and devices form the bottommost part of an IoT ecosystem and are used for measuring changes, while the topmost layer carries monitoring and measurement equipment used for analytics.
This report on the global industrial multiprotocol gateways market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the development of system-on-chip for multiprotocol communication as one of the key emerging trends in the global industrial multiprotocol gateways market:
Development of system-on-chip for multiprotocol communication
To allow gateways to support multiple protocols, the providers of chips and modules are offering system-on-chip, which can support multiple wireless standards. Apart from supporting sub-gigahertz proprietary frequencies, system-on-chip can also support standard-based protocols in the 2.4-GHz band, within a highly integrated device. This provides flexibility to manufacturers for developing devices that can be fielded in diverse applications.
“The IoT technology is gaining momentum across various industries driven by supportive gateway protocols that aid in smooth communication between different networks. End-users also realize the long-term benefits that are obtained using IoT technologies. The development of new generation IoT gateways with improved levels of overall system responsiveness has further resulted in the popularity of IoT gateways,” says a senior analyst at Technavio for research on automation.
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Global industrial multiprotocol gateways market segmentation
This market research report segments the global industrial multiprotocol gateways market into the following applications (remote monitoring, preventive maintenance, and product optimization), end-users (process industries and discrete industries), and key regions (the Americas, APAC, and EMEA).
The process industries segment held the largest market share in 2017, accounting for more than 67% of the market. This end-user will dominate the global market throughout the forecast period.
EMEA was the leading region for the global industrial multiprotocol gateways market in 2017, accounting for a market share of approximately 43%. It was followed by the Americas and APAC. This EMEA region will dominate the global market through 2022.
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