IoT Edge Devices Market Scope
The global IoT Edge Devices market is expected to witness high demand in the forecasted period due to the high demand for smart city projects across the world. These edge devices can include many different things, such as an IoT sensor, an employee's notebook computer, their latest smartphone, the security camera, or even the internet-connected microwave oven in the office break room. Edge gateways themselves are considered edge devices within an edge-computing infrastructure.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global IoT Edge Devices market throughout the predicted period.
Intel Corporation (United States), Huawei Technologies Co., Ltd. (China), NXP Semiconductors N.V. (United States), Texas Instruments Incorporated (United States), Cisco Systems Inc. (United States), Hewlett Packard Enterprise Co. (United States), TE Connectivity Ltd (Switzerland), Advantech Co., Ltd (Taiwan), Dell Technologies (United States), Microchip Technology Inc. (United States) and Notion (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Helium Systems Inc., Samsara Networks Inc., Beep Inc., Estimote Inc., Aaeon Technology Inc. (Taiwan), Nexcom International Co., Ltd. (Taiwan), STMicroelectronics N.V. (Switzerland), Eurotech S.P.A (Italy) and Adlink Technology Inc. (Taiwan).
Segmentation Overview
The study have segmented the market of Global IoT Edge Devices market by Type (Sensors, Actuators, IoT Gateways and Other Endpoints), by Application (Industrial [Healthcare, Automotive & Transportation, Building Automation, Manufacturing, Retail, BFSI, Oil & Gas, Agriculture, Aerospace & Defense, Others] and Consumer [Wearable Devices, Consumer Electronics]) and Region with country level break-up.
On the basis of geography, the market of IoT Edge Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Influencing Trend:
Development of internet connectivity and The growing market of connected devices
Market Growth Drivers:
The Increasing Popularity of the Wearable Devices and The growing use of wireless sensors and networks
Challenges:
High power consumption by wireless sensor terminals/ connected devices
Restraints:
Concerns regarding security and privacy of user data
Opportunities:
Government funding in research, innovation, and development related to IoT and The high demand due to emerging smart cities in developing countries
Market Leaders and their Expansionary Development Strategies
In October 2022,Izuma Networks, an edge computing services provider, recently acquired Pelion’s Device Management business, an IoT services platform. The companies did not release the value of the deal to the public.
In June 2021 ,According to Berg Insight estimation the global installed base of active off-highway vehicle telematics systems reached 4.4 million units in 2019 and is forecasted to double by 2024 reaching 9.0 million across all segments. Many off-highway equipment manufacturers are developing digitalization and telematics-based solutions and providing value added services such as, remote control, vehicle-to-vehicle communication, over-the-air SW updates and different data exchange and visualizations.
Key Target Audience
Manufacturer, Distributor, Suppliers, Government Regulatory Bodies, Private Research Organizations, Government Research Organization and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.