- Other Apps
Steadily, one can observe that, the growth of the IoT node and gateway market can be attributed to the improved internet connectivity and growth in use of wireless sensors and their networks, as well as growth in application specific microcontroller units (MCUs).
The lack of common communication protocols and communication standards across platforms and high power consumption by connected devices are hindering the growth of the IoT node and gateway market.
According to Research and Markets, the IoT node and gateway market for logic device is expected to witness the highest CAGR from 2017 to 2023.
The firm also revealed that, the significant increase in the shipment of logic devices is attributed to the growing adoption of wearable devices in developing economies such as China, India, and Brazil, as well as the increasing participation of domestic players in the wearable devices market.