According to the research report titled ‘Asia Pacific IoT Gateway Market Size By Component , By Connectivity Technology , By Application , Research Report, Regional Landscape, Growth Prospects, Price Trends, Competitive Industry Share & Forecasts, 2020 – 2026’, available with Market Study Report, Asia-Pacific IoT gateway market is expected to register a CAGR of 13% between 2020 and 2026.
 

Favorable government initiatives, especially in South Korea, Singapore, and India, coupled with widespread adoption of the technology in the manufacturing sector are some of the key factors driving the growth of Asia-Pacific IoT gateway market.
 

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As per component type, the report states that the multipoint control unit (MCU) segment captured 35% share in Asia-Pacific IoT gateway market and is expected to showcase a 15% CAGR during 2020-2026. IoT gateways which are integrated with MCU components are known to provide high flexibility. These units can effectively manage data functions such as diagnostics, storage, and generation.
 

Moreover, they also offer a secured connectivity to cloud platforms with multi-layer authorization and authentication. Thus, increasing utilization of smart home solutions and improving cognizance regarding the benefits of MCUs in IoT gateways are fueling the segmental share.
 

Elaborating on the application spectrum, the building automation segment held 10% market share and is predicted to expand with a CAGR of 15% through 2026. IoT technologies, which are based on building automation systems, tend to offer centralized connection of data. Moreover, IoT sensors that are attached to buildings offer better facility management, service innovation, and energy efficiency. They also help in reducing human intervention as well as the overall maintenance costs, thereby favoring the overall market outlook.
 

From the geographical point of view, the report cites that China accounted for 50% market share in the year 2019 and is set to record a y-o-y growth rate of 15% between 2020 and 2026. Favorable regulatory outlook, availability of low cost raw materials as well as electronic components, and increasing number of collaborations between top manufacturers and local companies are fueling the growth of China IoT gateway industry size.
 

The competitive landscape of Asia-Pacific IoT gateway industry is defined by companies such as NXP Semiconductors N.V., Neousys Technology Inc., NEXCOM International Co. Ltd., Mitsubishi Electric Corporation, Lantronix Inc., Intel Corporation, Huawei Technologies Co. Ltd., Hewlett Packard Enterprise Co., Eurotech, Digi International Inc., Cisco Systems Inc., Axiomtek Co. Ltd., Advantech Co. Ltd., ADLINK Technology Inc., and AAEON Technology Inc. among others.