Mesh Gateway Market worth $2.2 billion by 2029 at a CAGR of 11.5%

(IT-NEWSWIRE.COM, July 31, 2024 ) The overall market for mesh gateways is expected to be USD 1.3 billion in 2024 and reach USD 2.2 billion in 2029, at a CAGR of 11.5% during the forecast period. Factors such as increasing applications in the manufacturing industry are driving the market during the forecast period. The need for reliable data collection and communication in manufacturing industries for the smooth processing of components involved in the production lines is one the major drivers of mesh gateway in the manufacturing industry.

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Based on the offering, hardware has the largest market size, and the same trend is expected during the forecast period. Increasing technological advancements in the fields of IoT, AI, and wireless industrial networking are improving the growth of the mesh gateway market. The increasing number of smart devices, wearables, and consumer electronic products is expected to fuel growth during the forecast period.

Based on location, indoor is expected to grow with the highest CAGR during the forecast period. Mesh gateways are used indoors for wireless applications in industrial applications. Industries like metals and mining and manufacturing, among others, have a high demand for interconnected devices in indoor locations. Mesh gateways help to provide scalable and reliable wireless networks covering large indoor areas, enabling seamless communication between IoT devices, sensors, and machinery.

Based on the end-user industry, manufacturing had the largest market size during the forecast period. The demand for seamless wireless networks is increasing, driving the demand for mesh gateways. The manufacturing industry has many interconnected devices that need smooth and uninterrupted connections for communication and word processing. The manufacturing industry consists of large and complex lands and involves machinery and obstacles that can disrupt traditional wireless networks. Mesh gateways provide a solution by creating a wireless network where each node can communicate with multiple others to provide smooth communication. This flexibility helps in real-time monitoring, predictive maintenance, and automation to increasing operational efficiency and reducing downtime.

Based on region, the Asia Pacific region is expected to have the highest CAGR market during the forecast period. The Asia Pacific region is showcasing rapid growth in the mesh gateway market. Mesh gateways play a significant role in industrial wireless networks by providing communication between various interconnected devices. As the number of manufacturing industries increases, demand for wireless communication increases, which in turn increases the demand for mesh gateways in the region.

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Key Market Players:

Major companies in the mesh gateway market are Eaton (Ireland), Honeywell International, Inc. (US), Siemens (Germany), Emerson Electric Co. (US), Schneider Electric SE (France), Advantech Co., Ltd. (Taiwan), HDL Automation (China), RSAE Labs Inc. (US), Wirepas Ltd (Finland), Dryad Networks GmbH (Germany), and AsiaRF Co., Ltd (Taiwan) among others.

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Mesh Gateway Market worth $2.2 billion by 2029 at a CAGR of 11.5%