IIOT Gateway for Utility Market Projected to Hit USD 189.8 Million at a 17.1% CAGR by 2030
The IIoT Gateway for utility market demonstrates significant growth potential. The rising demand for better internet networks would support market growth. According to Market Research Future (MRFR), the global IIoT gateway for utility market is poised to reach USD 189.8 MN by 2030, growing at a 17.1% CAGR throughout the review period (2022–2030).
Power utilities worldwide are increasingly deploying IIoT gateway solutions to remotely monitor and diagnose all of their systems, from SCADA to smart grid and related devices equipment, as well as assets, facilities, and processes. With the increasing growth of edge computing, utilities are continually witnessing a rise in the number of IIoT devices throughout the grid.
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Smart meters, re-closers, load breakers, meter concentrators, and secondary substations are a few examples of IIoT solutions in utilities. The rise in new data sources, such as operational technology (OT) and information technology (IT) in utilities creates vast market demand. Also, the adoption of container-based IIoT applications is rapidly being deployed to scale programmable logic controllers (PLCs), driving the IIoT gateway adoption.
IIoT Gateway for Utility Market – Segments
The IIoT Gateway for utility market forecast is segmented into component, connectivity technology, application, and region. The component segment is sub-segmented into microcontroller units (MCUs), field programmable gate arrays (FPGAs), sensors, memory devices, and others. Of these, the microcontroller unit segment accounts for the largest market share.
The connectivity technology segment is sub-segmented into Bluetooth, Wi-Fi, ZigBee, ethernet, z-wave, and others. The application segment is sub-segmented into power utilities, gas utilities, water utilities, transportation, smart cities, and others. The region segment is sub-segmented into the Asia-Pacific, Americas, MEA, Europe, and Rest-of-the-World.
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Global IIoT Gateway for Utility Market – Regional Analysis
North America dominates the global IIoT gateway for utility market. The presence of notable IIoT gateway solution providers and rapidly growing utility companies is a major driving force. Besides, technological advances and the spurring rise in the power, water, and gas utility sectors boost the market size. The developed network infrastructure and increasing IIoT security space substantiate the region's market shares.
Europe stands second in the global IIoT gateway for utility market. The increasing uptake of IIoT gateway solutions in government establishments like cyber authorities and policies to protect confidential data creates significant growth opportunities. Moreover, the growing adoption of cloud-based services in public and private sectors fosters regional market growth.
The Asia Pacific IIoT gateway for the utility market is growing rapidly. Factors such as rapid improvements in IIoT network structures and the rising adoption of IIoT gateway solutions in increasing numbers of utilities to enhance network structure escalate the market value. Additionally, the rising demand for IIoT gateway solutions from utility sectors across the region increases the market size.
IIoT Gateway for Utility Market – Competitive Analysis
Fiercely competitive, the IIoT gateway for utility market appears fragmented, with various notable players forming a competitive landscape. These players increasingly focus on product development and incorporate strategic approaches, such as collaboration, mergers acquisitions, expansions, and product launches, to gain a larger competitive share. They make substantial investments to drive RD to develop required technologies and expand.
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Major Players
Players leading the global IIoT gateway for utility market include Cisco System, Inc. (US), Intel Corporation (US), Advantech Co., Ltd. (Taiwan), Hewlett Packard Enterprise Co. (US), ASUS Tek Computer Inc. (Taiwan), Huawei Technologies Co., Ltd. (China), Super Micro Computer, Inc. (US), Siemens AG (Germany), Dell Technologies Inc. (US), and NXP Semiconductors (Netherlands), among others.
Industry/ Innovation/ Related News:
Jul. 01, 2022 --- Moxa, a leading global provider of network infrastructure for the Industrial Internet of Things (IIoT), launched its new IIoT gateway solution, AIG-300 Series, optimized for integration with the azure IoT edge computing platform. AIG-300 gateway is designed to provide stable connectivity for distributed and unmanned sites to collect, store, process, and analyze vast operational data gathered from sensors and other IIoT devices.
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