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#News(General) [ via IoTForIndiaGroup ]
The major factor driving the growth of the IoT node and gateway are improved internet connectivity in technologically advanced countries and increased IP address space and better security provided by IPv6. Moreover, in emerging economies such as India, China, and Brazil, the improving IT infrastructure, along with business friendly initiatives by government organizations is driving the growth of the IoT node and gateway market.
The growth of retail end-use application was primarily due to the increasing adoption of IoT-enabled products such as contactless checkout/PoS, digital signage, and smart tags.
The mass adoption of online banking, contactless payment, and mobile banking apps has increased significantly. Banks are trying to create intelligent and personalized customer cross-selling opportunities. The shipment of the BFSI end-use application in the IoT node and gateway market would largely be driven by the increasing adoption of mPOS.
The IoT node and gateway market is expected to reach 17.18 Billion units by 2023, growing at a CAGR of 30.9%
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