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The market dynamics of the Industrial Internet of Things (IIoT) gateway for the utility sector are driven by a convergence of technological advancements, increasing demand for smart utility solutions, and the evolving landscape of the energy industry. One key dynamic is the rapid adoption of IIoT technologies in utility operations. IIoT gateways act as crucial connectors between edge devices and cloud platforms, enabling real-time data acquisition, processing, and analysis. This dynamic reflects the industry's recognition of the transformative impact of IIoT in optimizing utility processes, improving efficiency, and enhancing overall operational visibility.
The growing emphasis on smart grid solutions is a significant driver shaping the dynamics of the IIoT gateway for the utility market. As utilities strive to modernize their infrastructure, smart grids leverage IIoT gateways to enable intelligent communication and control between devices, meters, and utility networks. This dynamic underscores the industry's commitment to building resilient and adaptive utility systems capable of managing fluctuating energy demands, improving grid reliability, and integrating renewable energy sources.
Cybersecurity considerations play a pivotal role in influencing the dynamics of the IIoT gateway market for utilities. With the increasing connectivity of devices and systems, there is a heightened focus on securing data and communication channels. IIoT gateways incorporate robust cybersecurity features to safeguard against potential cyber threats, ensuring the integrity and confidentiality of utility data. This dynamic reflects the industry's acknowledgment of the importance of cybersecurity in deploying resilient and secure IIoT solutions within the utility sector.
Interoperability and standardization are key dynamics influencing the IIoT gateway market for utilities. The industry recognizes the importance of ensuring that IIoT gateways can seamlessly integrate with a variety of devices, sensors, and platforms. Standardization efforts contribute to the development of interoperable solutions, enabling utilities to deploy a diverse range of IIoT devices while maintaining a cohesive and integrated ecosystem. This dynamic aligns with the industry's pursuit of flexibility and scalability in implementing IIoT technologies.
The demand for real-time analytics and actionable insights is a driving force in the IIoT gateway market for utilities. IIoT gateways enable utilities to collect and analyze vast amounts of data from diverse sources, facilitating informed decision-making and predictive maintenance. This dynamic reflects the industry's commitment to leveraging data-driven insights for optimizing asset performance, minimizing downtime, and enhancing overall operational efficiency in utility operations.
Regulatory initiatives and sustainability goals significantly shape the dynamics of the IIoT gateway market for utilities. Governments and regulatory bodies are increasingly promoting the adoption of smart technologies to enhance energy efficiency and reduce environmental impact. IIoT gateways contribute to these goals by enabling utilities to monitor, control, and optimize their operations, aligning with the industry's commitment to meeting regulatory requirements and contributing to sustainability initiatives.
The evolution of edge computing is a transformative dynamic in the IIoT gateway market for utilities. Edge computing capabilities integrated into IIoT gateways allow for data processing and analysis at the edge of the network, reducing latency and enabling faster response times. This dynamic supports utilities in making real-time decisions, particularly in critical scenarios such as grid management and outage detection. The industry's embrace of edge computing reflects the need for agile and responsive IIoT solutions in utility operations.
The advent of 5G technology is influencing the dynamics of the IIoT gateway market for utilities. As utilities seek faster and more reliable communication networks, 5G connectivity enhances the capabilities of IIoT gateways by providing high-speed, low-latency communication. This dynamic facilitates the implementation of advanced applications, such as remote monitoring, autonomous systems, and augmented reality, contributing to the industry's pursuit of cutting-edge IIoT solutions in utility operations.
Cost considerations and return on investment (ROI) are critical dynamics in the IIoT gateway market for utilities. While the benefits of IIoT gateways are significant, utilities assess the upfront costs and long-term value proposition of implementing these solutions. The industry's focus on achieving a favorable ROI underscores the importance of cost-effective and efficient IIoT gateway solutions that deliver tangible benefits in terms of operational efficiency, reliability, and overall utility performance.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Components, connectivity technology, application, and region. |
IIOT Gateway for Utility Market Highlights:
IIOT Gateway for Utility Market Overview
The global IIOT Gateway For Utility market has been growing significantly over the past few years. It is expected to reach USD 38.76 Billion by 2032, at a CAGR of 14.1% during the forecast period, 2022–2032. IoT Gateways are designed to securely connect to the internet/cloud using WiFi, LAN or cellular communication, this connectivity provides a solution to unlock meaningful data from these legacy devices. Industrial IoT Gateways bridge the gap between edge and cloud by collecting, processing, and standardizing data from sensors, I/O devices, and PLCs before sending it to the cloud. Industrial IoT Gateways enable a variety of functions to support greater efficiency in production environments by enabling connectivity among equipment, devices, and systems.
Figure1: IIOT Gateway for Utility Market, 2018 - 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
COVID-19 Impact vs Opportunities for Global IIOT Gateway for Utility Market:
Since the lockdown, all production industries had been closed, and the essential components of IoT systems are numerous sensors, without which the system cannot be deployed gets also hampered. Furthermore, the sensors are made in many locations throughout the world, making it impossible to export and import due to tight lockdown measures implemented by governments around the world, making raw material procurement extremely complex. Any system cannot come to life on its own without the whole set of raw materials, and system integration and system mating with the software is impossible. As a result, the expansion of the IoT market has reached a halt.
Various governments are implementing various programs to deploy smart meters across the country. The most popular utility IoT use case nowadays is advanced metering infrastructure AMI via smart meters. Smart meters give utilities a direct path to offer value-added services to their customers, including immediate user feedback, adjustable rates, and smart home apps. Creating opportunities for market growth.
Market Dynamics:
Drivers:
In the forecast period, the advent of 5G technology is expected to propel the growth of the IIoT gateway for the utility market. 5G allows for more dependable, quicker, and secure communication. Because of 5G's increased bandwidth, more data can be transferred in a given amount of time, and its lower latency allows data to reach its destination faster.
Opportunities:
Various governments have pushed the adoption of disruptive technologies, such as the Internet of Things (IoT), to boost industrial automation across various enterprises. Governments throughout the world are implementing various incentive programs, including R&D funding, tax breaks, and the establishment of promotional ventures and platforms, to promote automation and thereby accelerate the adoption rate of industrial IoT gateway for utility.
Restraint:
IoT security is the act of protecting Internet devices and the networks to which they are connected from threats and breaches by protecting, identifying, and monitoring risks, as well as assisting in the repair of vulnerabilities from a variety of devices that can pose security risks to businesses.
Value Chain Analysis
The IIoT Gateway for the utility market value chain has evolved from a conventional approach to highly efficient supply chain processes. The value chain comprises hardware, software, and connectivity in its basic requirements, system integration in the second stage, and end-use.
Segment Overview
The global IIOT Gateway for Utility market has been segmented on the basis of components, connectivity technology, application, and region.
By component segment, the market is further bifurcated into Microcontroller Units, Field Programmable Gate Arrays, sensors, Memory, and Others. Among these segments, the microcontroller unit segment garnered a high market value of USD 14.3 million in 2021.
Based on connectivity technology, the market is further bifurcated into Bluetooth, Wi-Fi, ZigBee, ethernet, z-wave, and others.
Based on the application, the market is further bifurcated into power utilities, gas utilities, water utilities, transportation, smart cities, and others.
Based on region the market has been segmented into North America, Europe, Asia-Pacific, Middle East, and Africa, and South America.
Regional Analysis
The global IIOT Gateway for the Utility market has been studied across Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
North America accounted for the largest market share of USD 18.1 million in 2021. North America accounts for one of the largest market shares in the IIOT gateway for the utility market due to the presence of notable IIOT Gateway for Utility companies. The major players in IIOT Gateway for Utility have been working on the technology for well over the last many years.
Asia-Pacific is the fastest-growing market, and the Asia Pacific is expected to drive the market in the region. An increase in the integration of IoT technology in the utility industry is expected to create opportunities for the market in the Asia Pacific. Nearly 20 to 25% of the market's growth will originate from Asia-Pacific during the forecast period.
Competitive Landscape
The global market for IIOT Gateway for Utility is projected to witness healthy growth during the forecast period, owing to the emergence of 5G connectivity technology, and the growing use of IIOT gateway for the utility industry due to its various features.
Key players operating in the global IIOT Gateway for Utility market include:
- Intel Corporation (US)
- Cisco System, Inc. (US)
- Advantech Co., Ltd. (Taiwan)
- ASUS Tek Computer Inc. (Taiwan)
- Hewlett Packard Enterprise Co. (US)
- Huawei Technologies Co., Ltd. (China)
- Siemens AG (Germany)
- Super Micro Computer, Inc. (US)
- NXP Semiconductors (Netherlands)
- Dell Technologies Inc. (US).
Recent Developments
Cisco unveils Industrial IoT routers and gateways. The Cisco Catalyst IR1800 Rugged Series, IR8100 Heavy Duty Series, and IR8300 Rugged Series are the routers that have been made available. The three series were created to make it easier for businesses to meet IoT connectivity requirements. With Cisco's IOS XE operating system, these routers can be set up to access fast internet on smartphones, tablets, laptops, and desktop computers. On June 2021
Based on the powerful NVIDIA Jetson platform, ASUS announced PE1000N, an ultra-compact computer for AI inferencing at the edge. It features a fanless design for quiet operation, rich industrial connectivity for serious flexibility, and supports a wide range of power inputs and operating temperatures for maximum versatility and durability. On July 2022
Advantech announced that the Internet of Things (IoT) Greengrass program had accepted the UNO series of IoT gateways. AWS IoT Greengrass is an open-source edge and cloud solution for the Internet of Things, making it easier to manage and develop software for devices. On September 2022
Based on the powerful NVIDIA Jetson platform, ASUS announced PE1000N, an ultra-compact computer for AI inferencing at the edge. It features a fanless design for quiet operation, rich industrial connectivity for serious flexibility, and supports a wide range of power inputs and operating temperatures for maximum versatility and durability. On July 2022
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