Global Industrial IoT Gateway Market 2020: Industry Trends and Investigation Growth Rate, consumption by Regional data, End-user Segmentation | Key Companies a Showing Impressive Growth by 2024
Summary
LONDON--(BUSINESS WIRE)--The industrial IoT gateway market is expected to grow by USD 1.12 billion, progressing at a CAGR of over 15% during the forecast period. However, factors such as high installation costs due to the need for multiple gateways will hamper the market growth. The process segment holds a dominating share in the global industrial IoT gateway market owing to the high installed base of legacy automation systems and instruments. IoT is helping organizations in the smooth transition of manufacturing floor operations in several ways, which will drive the growth of the market during the forecast period. • Market share assessments for the regional and country-level segments • Strategic recommendations for the new entrants • Strategic recommendations in key business segments based on the market estimations Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19.