Key Players of IoT Gateway Market in Asia-Pacific region are Huawei Technologies, Aaeon Technology Inc., Nxcom International Co., Ltd., Adlink Technology, Inc., Mitsubishi Electric Corporation, Advantech, and Embitel.
Pune, India, August 10, 2022 (GLOBE NEWSWIRE) —
According to a recent industry report presented by Graphical Research, the Asia Pacific IoT Gateway Market is expected to register its name in the billion-dollar fraternity within seven years, surpassing $4 billion in revenue by 2026.
An exponential rise in the number of smart city projects in India, Japan, and China has propelled the market share. Government initiatives are expected to strengthen cybersecurity, which bodes well for IoT networks. Specifically, the government of Japan introduced new regulations in February 2020 to allow the government to test IoT devices.
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The trend towards highly secure connectivity will be noticeable across the region as stakeholders are poised to increase their investments in IoT gateway solutions. For example, the government of Singapore published a guide in February 2019 guaranteeing IoT cyber security.
The trends that will remain defining in the region are highlighted below:
Bluetooth connectivity technology to accelerate growth
Driven by the trend of ultra-high frequency (UHF) waves for fast data transfer, the penetration of Bluetooth connectivity technology will be pronounced in the region. The expansion of industrial automation in South Korea and China has opened avenues of growth for the technology.
The Bluetooth connectivity technology segment accounted for approximately 40% of the Asia-Pacific IoT gateway market share in 2019, with an expected CAGR of over 15% through 2026. The integration of Bluetooth will drive the trend of easy communication and smart edge devices.
Multipoint Control Unit (MCU) Components to Look For
Stakeholders have shown immense interest in multi-point control units following the trend of connected devices and smart homes. It should be noted that these components provide great flexibility in single integrated chips. Additionally, the need for data management functions including storage, acquisition and diagnostics and secure connectivity has increased the demand for MCU components.
Big companies are likely to pour funds into IoT-connected wearables, such as eyewear and fitness watches, among others. The Multipoint Control Unit (MCU) component segment held more than 35% of the total APAC IoT Gateway Market Share in 2019 and will grow at an impressive CAGR of 15% through 2026.
Healthcare industry to drive product adoption
The booming healthcare industry has earned the trust of IoT gateway solution providers. The healthcare industry has shown a deep inclination for IoT solutions to boost workflow, patient interactions, and operational efficiency.
In particular, robots have become an important ally for non-invasive treatments and patient surgeries. Significantly, Sysmex deployed a surgical robot in December 2020 following Japanese regulatory approval in August. The healthcare application segment accounted for over 15% market share in 2019 and will grow at a strong CAGR of over 20% through 2026.
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China remains at the helm; India will follow suit
China is expected to continue to lead the production of IoT-enabled electronic devices. Notably, the Made in China 2025 initiative has increased the domestic production of white appliances, providing a reduction in the cost of raw materials and electronic components, including microcontrollers, sensors and processors. Based on revenue, China held around 50% of the Asia-Pacific IoT gateway market share in 2019 and is expected to grow at a strong CAGR of 15% through 2026.
India is expected to follow suit with an exponential increase in broadband connectivity and internet penetration. The Government of India has put in place favorable policies to bolster the Digital India program and boost IoT for broadband highway solutions.
Leading companies are expected to increase their investments in IoT gateway solutions, with multipoint control units poised to set the trend in the Asia-Pacific region.
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