In the forthcoming years, the IoT node and gateway market are expected to grow at a noteworthy speed. The market growth has been possible with the increasing market growth for connected devices. In addition to this, increasing application of the wireless smart network as well as smart sensors is also fueling growth avenues in the IoT node and gateway market. The emergence of 5G technology across the world is also contributing to the IoT node and gateway market growth in the years to come.
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In recent years, there is a rising requirement for data centers across the globe on the back of the growing adoption of cloud platforms. Thus, based on these abovementioned factors, the IoT node and gateway market are predicted to grow noticeably in the years to come.
Wearables, retail, and healthcare are some of the popular end-use applications for which these IoT services have been adopted at an increased rate. However, data security, as well as data privacy, are predicted to work as the major obstacles in the IoT node and gateway market growth.
In recent years, there has been a noteworthy increase in the count of connected devices and this factor has further led to the generation of data at an increased amount. Cybercriminals are capable to hack the user system and can use the data of the respective user for multiple purposes, such as evaluation of someone health, tracking companies strategies, and using data of car insurance. Thus, based on these factors, the IoT node and gateway market are predicted to experience some obstacles in the IoT node and gateway market.
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North America and Europe Hold Significant Position in Regional IoT Node and Gateway Market
In recent 10-15 years, internet connectivity has been penetrating at a rapid pace in the developed regions, for instance, Europe as well as North America. Along with this, the launching of 5G network in these regions is also serving as the driving factor to develop growth impetus in the IoT node and gateway market.