Berg Insight has found that than 4,5-million cellular IoT gateways were shipped globally during 2021, at a total market value of approximately $1,15-billion.

Annual sales grew at a rate of 14% as demand recovered following the Covid-19 pandemic. The industry experienced at the same time constrained supply of key components like cellular modules and CPUs, resulting in extended delivery times.

Sales growth has continued into 2022 but will likely slowdown in 2023 as economic conditions tighten across the main regions.

Until 2026, annual revenues from the sales of cellular IoT gateways is forecasted to grow at a compound annual growth rate (CAGR) of 14% to reach $2,18-billion at the end of the forecast period.

Cellular IoT gateways include general-purpose routers, gateways and modems that provide primary or failover cellular connectivity to devices in a local network. The product category has evolved over the past decades from simple networking devices to aggregation points for devices, implementing advanced functionality for security and edge computing.

The market is driven by the growing need to connect assets and work forces in remote and temporary locations as enterprises digitalise their operations.