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Industrial IoT Gateway Market size is set to grow by USD 3.36 billion from 2024-2028, Leveraging manufacturing data for predictive maintenance boost the market, Technavio

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NEW YORK, Aug. 12, 2024 /PRNewswire/ — The global industrial IoT gateway market size is estimated to grow by USD 3.36 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  23.31%  during the forecast period. Leveraging manufacturing data for predictive maintenance is driving market growth, with a trend towards increasing focus on providing end-to-end service . However, high installation cost due to the need for multiple gateways  poses a challenge. Key market players include ADLINK Technology Inc., Advantech Co. Ltd., Alten SA, ASUSTeK Computer Inc., Cisco Systems Inc., Dell Technologies Inc., EUROTECH Spa, Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Intel Corp., Intuz Inc., iWave Systems Technologies Pvt. Ltd., NEXCOM International Co. Ltd., NXP Semiconductors NV, PHYTEC Messtechnik GmbH, Semtech Corp., Siemens AG, Super Micro Computer Inc., TE Connectivity Ltd., and Texas Instruments Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Industrial Iot Gateway Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 23.31%

Market growth 2024-2028

USD 3364.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

18.59

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 40%

Key countries

US, China, Germany, Canada, and UK

Key companies profiled

ADLINK Technology Inc., Advantech Co. Ltd., Alten SA, ASUSTeK Computer Inc., Cisco Systems Inc., Dell Technologies Inc., EUROTECH Spa, Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Intel Corp., Intuz Inc., iWave Systems Technologies Pvt. Ltd., NEXCOM International Co. Ltd., NXP Semiconductors NV, PHYTEC Messtechnik GmbH, Semtech Corp., Siemens AG, Super Micro Computer Inc., TE Connectivity Ltd., and Texas Instruments Inc.

Market Driver

The industrial IoT market has experienced significant growth, with a double-digit year-over-year increase. Driving this adoption is the need to enhance manufacturing processes and decrease operational expenses and time-to-market. Industrial IoT involves hardware, software, and IoT platform providers. The market is fragmented, with vendors expanding offerings through acquisitions and vertical integration. However, implementing IoT projects in industrial sectors is challenging due to legacy technologies. To address this, vendors offering end-to-end services are preferred. Major players like Advantech, HPE, and Moxa provide comprehensive hardware and software packages, with some even offering online consulting services. As competition intensifies and IoT adoption grows, vendors will increasingly focus on end-to-end services, leading to market expansion during the forecast period. 

The Industrial IoT (IIoT) gateway market is experiencing significant growth due to the widespread adoption of IoT in various industries, particularly manufacturing. IIoT is revolutionizing production efficiency, reducing lead times, and enabling customized products for businesses. Digital transformation technologies like linked devices, mobile IoT, and edge computing are driving this trend. Gateway devices, including those using processors and memory storage devices, facilitate bidirectional communications between factory assets and the cloud. IIoT is benefiting sectors like automotive transportation, healthcare, consumer electronics, and aerospace defense. Energy consumption reduction is a key advantage, with commercial building owners also embracing IIoT for smart lighting, heating, and security. Gateway technologies support various communication protocols such as Bluetooth, Ethernet, and cellular. Component shortages and security concerns are challenges, but innovations like MCUs (Microcontroller Units) and SOC (System-on-Chip) are addressing these issues. Hydrogen fuel cells and carbon dioxide emissions reduction are emerging applications, offering potential for increased profits. Major players in the IIoT gateway market include Advantech and MOXA, offering solutions for legacy equipment, sensors, controllers, and more. The future of IIoT is bright, with continuous advancements in technology and applications. 

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Market Challenges

The integration of information technology and operation technology in industries can be achieved through edge computing and industrial IoT gateways. However, the implementation of IoT projects in process and discrete industries poses challenges. The primary concerns are data loss and security during the integration of IoT devices. While small-scale industries can easily adopt IoT gateways, large industrial premises with multiple divisions require a mesh network of multiple gateways, increasing overall costs. Data loss often occurs due to connectivity issues in IoT devices and faults in gateways. The high cost of installing multiple gateways may hinder the growth of the industrial IoT gateway market. Despite the advantages of IoT gateways, many industries still rely on wired gateways due to their reliability, low data loss, and lower cost. Thus, resistance to change from wired communication protocols to wireless ones hinders the adoption of industrial IoT gateways in the manufacturing industry.The Industrial IoT Gateway market is experiencing significant growth as businesses seek to connect and manage their legacy equipment with next-generation devices. However, challenges persist in implementing edge computing, ensuring security, and selecting the right hardware like MCUs and SOCs. Communication protocols such as Bluetooth and ZigBee are common, but challenges remain in endpoint device interoperability and networking connectivity. Manufacturing industries face cyberattacks and unauthorized access, necessitating protective circuitry and virtualization. Cloud integration, data storage, and edge analytics are crucial, but power consumption is a concern for microcontrollers and older equipment. Flexible SOC-type designs from companies like Advantech and MOXA are addressing these challenges, enabling smart lighting, healthcare, buildings, and even smart cities. MCUs need efficient SoC designs, and Texas Instruments offers solutions. Sensors and controllers require pins and socket PCs for connectivity. Cybersecurity threats demand attention, with cyberattacks targeting manufacturing and smart cities. Networking protocols and data storage are essential, but managing these systems can be complex. Overall, the Industrial IoT Gateway market requires innovative solutions to address these challenges and unlock the potential of big data analytics.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This industrial iot gateway market report extensively covers market segmentation by  

Connectivity 1.1 Bluetooth1.2 Wifi1.3 Zigbee1.4 OthersEnd-user 2.1 Process industries2.2 Discrete industriesGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Bluetooth-  The Industrial IoT Gateway market is experiencing significant growth due to the increasing adoption of IoT technologies in industries. These gateways facilitate seamless communication between IoT devices and the cloud, enabling real-time data processing and analysis. Companies are investing in IoT gateways to improve operational efficiency, reduce costs, and enhance productivity. The market is expected to continue growing as more industries embrace digital transformation.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Industrial IoT (IIoT) Gateway market is witnessing significant growth due to the increasing adoption of edge computing in industrial automation. Edge computing allows data processing and analysis at the source, reducing latency and bandwidth requirements. Security is a major concern in IIoT, with gateways playing a crucial role in securing communication between sensors, controllers, and the cloud. MCUs (Microcontroller Units) and SOC (System-on-Chip) are popular choices for building IIoT gateways. Bluetooth gateways are gaining popularity for connecting legacy equipment, while networking protocols like MQTT and CoAP are commonly used for communication. Sensors and controllers generate vast amounts of data, which requires efficient data storage and edge analytics. Next-generation devices are incorporating flexible SOC-type designs, while management systems ensure seamless integration with cloud platforms. However, cyberattacks and unauthorized access pose significant challenges, requiring robust security measures. Companies are investing in advanced security features, such as encryption, access control, and intrusion detection. Belden and Kubernetes are also making strides in the IIoT gateway market.

Market Research Overview

The Industrial IoT (IIoT) Gateway market is witnessing significant growth due to the increasing adoption of edge computing in various industries. Edge computing enables real-time data processing and analysis at the source, reducing the need for large amounts of data to be transmitted to the cloud. IIoT gateways act as intermediaries between sensors, controllers, and the cloud, ensuring secure and reliable communication using various networking protocols like Bluetooth, ZigBee, Ethernet, Cellular, and others. IIoT gateways are essential for connecting legacy equipment and older devices to the IoT ecosystem. They come in various forms, including MCUs (Microcontroller Units) and SOC (System-on-Chip) designs, which offer flexible and power-efficient solutions. The market is driven by the need for security, as IIoT gateways provide protective circuitry to prevent cyberattacks and unauthorized access. IIoT gateways are used in various applications, including smart lighting, smart healthcare, smart buildings, manufacturing, and smart cities. They enable virtualization and networking connectivity, making it easier to manage and monitor linked devices.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ConnectivityBluetoothWifiZigbeeOthersEnd-userProcess IndustriesDiscrete IndustriesGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Cat® Simulators New Hydraulic Mining Shovel System Builds Operator Skills for Mine Sites

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Simformotion™ LLC, a leader in heavy equipment simulator training solutions, announces the release of the new Cat® Simulators Hydraulic Mining Shovel System.

PEORIA, Ill., Sept. 23, 2024 /PRNewswire-PRWeb/ — Simformotion™ LLC – a leader in heavy equipment simulator training solutions – announces the release of the new Cat® Simulators Hydraulic Mining Shovel System. Operator trainees can utilize the system inside a classroom or at satellite mine locations.

“The new Hydraulic Mining Shovel simulator system is the cornerstone of our Cat Simulators mining models. The system trains students and operators using authentic Cat controls and teaches applications found on real-world job sites,” says CEO Lara Aaron.

The hands-on training system is set in a mining environment and teaches learners how to operate the Hydraulic Mining Shovel, including inspecting the machine, spotting and properly loading trucks, and more. Correct, efficient operation increases safety, production and cost savings. Simulation is a safe alternative to using actual machines for heavy equipment operator training. Students and operators can train anytime and anywhere using simulators — no need to take a costly machine out of production, worry about the weather or, most importantly, worry about the operator’s safety.

“The new Hydraulic Mining Shovel simulator system is the cornerstone of our Cat Simulators mining models. The system trains students and operators using authentic Cat controls and teaches applications found on real-world job sites. We often hear of the struggles to find skilled operators. Cat Simulators systems help companies build their own workforce,” says CEO Lara Aaron.

The Cat Simulators Hydraulic Mining Shovel system is available in multiple languages and includes SimU Campus™, a built-in reporting software that records and generates reports of learners’ simulation sessions and compares their performance to Caterpillar benchmarks. The system features authentic Cat controls, a motion system, exclusive walkaround machine inspection training, and a companion SimScholars™ curriculum, making the training package a unique offering.

The companion SimScholars online curriculum is a one-to-one match with the simulator model and can be used in the classroom or for remote learning. It is an interactive, turn-key solution complete with instructor guides, videos, quizzes and more. Integrate the Cat Simulators Hydraulic Mining Shovel system and its curriculum together for a unique, blended learning experience.

For even more training value and for a more immersive experience, add VR Edition. With the VR headset and patented VR Now technology, users experience a larger view of the virtual environment with greater depth perception. The simulator is portable and easy to move from a training room to a trailer to satellite locations.

About Simformotion™ LLC

©Copyright 2024 Simformotion™ LLC is a leader in heavy equipment simulator training solutions. Simulation can help address initiatives such as safety and production; while ensuring training can be delivered anytime day or night, regardless of weather conditions. Cat Simulators are chosen as training solutions in such markets as mining, construction, forestry, government, and trade and vocational schools. Simformotion™ LLC is a licensee of Caterpillar Inc. As used herein, “Simformotion” means Simformotion™ LLC, a Delaware limited liability company.

About Caterpillar Inc.

About Caterpillar Inc. With 2023 sales and revenues of $67.1 billion, Caterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For nearly 100 years, we’ve been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels at caterpillar.com/en/news/social-media.html.

CAT, CATERPILLAR, LET’S DO THE WORK, their respective logos, “Caterpillar Corporate Yellow,” and the “Power Edge” and “Modern Hex” trade dress, as well as corporate and product identity used herein, are trademarks of Caterpillar and may not be used without permission. www.cat.com / www.caterpillar.com Third party trademarks are the property of their respective owners.

Media Contact
Kim Roberts, Simformotion, 1 3096703200, kroberts@simformotion.com, https://simformotion.com/

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GR0 CEO Kevin Miller Snags C-Suite Insiders CEO of the Year Award for Brand Optimization

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GR0 Co-Founder and CEO Kevin Miller Honored for Excellence in Leadership, Innovation, and Industry Impact

LOS ANGELES, Sept. 23, 2024 /PRNewswire-PRWeb/ — Kevin Miller, Co-Founder and CEO of GR0, was awarded CEO of the Year for brand optimization from the prestigious C-Suite Leadership Awards Program. This recognition underscores Miller’s outstanding leadership, innovation, and transformative impact in the digital marketing industry.

Recognized for celebrating excellence in senior executives, the C-Suite Leadership Awards Program highlights remarkable achievements in business. Emphasizing the importance of exceptional leadership, innovation, and industry impact, the program honors high-performing executives who inspire success while shaping the future of their companies.

As Co-Founder and CEO of GR0, Kevin Miller has propelled his company to the forefront of the digital marketing industry. Leveraging extensive expertise from roles at Google and Open Listings, Miller has spearheaded notable successes for GR0, including accolades such as a Platinum dotCOMM award in 2024 and a Best SEO Company award from Clutch in 2021.

Assisting both D2C and B2B clients, GR0 is known for delivering measurable growth and impactful results as a trusted agency for businesses seeking transformative omnichannel digital marketing solutions.

Miller’s dedication to his team and commitment to fostering an exemplary working environment have not gone unnoticed. He was recognized with a Best CEO Award from Glassdoor and was instrumental in GR0 being named a Best Company for Women by Great Place to Work in 2024. These achievements underscore Miller’s holistic approach to leadership, focusing on business success and employee well-being.

For further details on Miller’s remarkable achievements and to explore GR0’s transformative digital marketing strategies, visit GR0’s website.

About GR0: A leading omnichannel digital marketing agency based in Los Angeles, GR0 delivers exceptional growth and impactful results for a diverse clientele. With a record of innovation and recognition in digital marketing, GR0 sets benchmarks and drives success stories for businesses worldwide.

Media Contact

GR0 Agency, GR0, +1 (310) 439-1887, performancepr@gr0.com, gr0.com 

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First Pacific Bank expands its instant payments offerings with Finastra, driving growth

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With Finastra Payments To Go, the bank enhances its payments infrastructure and unlocks new opportunities 

LAKE MARY, Fla., Sept. 23, 2024 /PRNewswire/ — Finastra today announced that First Pacific Bank, a Southern California-based community bank that offers custom financial solutions for individuals and businesses, has selected Finastra Payments To Go to modernize its payments infrastructure. The cloud-based, SaaS payments hub solution will help the bank to deliver FedNow send and receive services 24/7, support ISO 20022 compliance, and enable its projected growth. 

As part of Finastra’s commitment to Open Finance, Payments To Go offers seamless connectivity to other software providers, fintechs, and financial institutions, giving banks the flexibility needed to deploy modern and agile payment solutions quickly and efficiently.

“Our selection of Payments To Go was driven by the need for a robust instant payments platform that supports our growth and innovation plans, particularly as we expand our commercial business,” said Sharokin Badal, SVP, Director of Deposit and Treasury Services at First Pacific Bank. “With Finastra, our customers will benefit from additional payment offerings, enabling better cash flow and financial management. The modernity and scalability of Payments To Go, along with its seamless integration with our existing vendors, make it the ideal solution.”

Deployed on Microsoft Azure cloud, Payments To Go provides the bank with the agility needed to offer new and innovative payments rails, including FedNow Service. As one of the first software providers in the industry to complete certification for the FedNow Service and ISO 20022 compliance, Finastra is well-positioned to provide financial institutions with the ability to deliver instant payment services around the clock, with more than 200 customers across the US able to launch FedNow Service through its solutions.

“Our payments as a service solution provides First Pacific Bank with a modern infrastructure that enables scalability and an enhanced customer experience,” said Radha Suvarna, Chief Product Officer, Payments at Finastra. “We’re pleased that the bank selected us to not just prepare them for regulatory and compliance requirements, but to support the team as they meet the moment to unlock new opportunities in payments innovation.”

“Readiness for both ISO 20022 messaging standards for Fedwire and the FedNow Service are critically important for community-based financial institutions to stay competitive and compliant as the instant payments space continues to evolve,” said Erika Baumann, Director Commercial Banking and Payments at Datos Insights. “By aligning with global standards and embracing new payment rails, community banks are well positioned to improve their offerings.”

To learn more about Payments To Go, visit Finastra at Sibos 2024 on stand G30.

About Finastra
Finastra is a global provider of financial services software applications across Lending, Payments, Treasury and Capital Markets, and Universal (retail and digital) Banking. Committed to unlocking the potential of people, businesses and communities everywhere, its vision is to accelerate the future of Open Finance through technology and collaboration, and its pioneering approach is why it is trusted by ~8,100 financial institutions, including 45 of the world’s top 50 banks. For more information, visit finastra.com.

About First Pacific Bank
First Pacific Bank is a wholly owned subsidiary of First Pacific Bancorp (OTC Pink: FPBC) and is a growing community bank catering to individuals, professionals, and small-to-medium sized businesses throughout Southern California. With a history that spans 17 years, the Bank offers a personalized approach, access to decision makers, a broad range of solutions, and a commitment to delivering an exceptional customer experience. First Pacific Bank operates locations in Los Angeles County, Orange County, San Diego County, and the Inland Empire. For more information, visit firstpacbank.com or call 888.BNK.AT.FPB.

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