The cellular router and gateway market will reach 2.8 billion USD by 2028.
Berg Insight has announced a new research report on the global cellular router and gateway market. The growth of the cellular router and gateway market is driven by the increasing need to connect assets and employees located in remote or temporary locations as companies undergo digital transformation. In 2023, annual shipments are expected to reach 6.3 million units, with annual sales of 1.6 billion USD, reflecting a 3% increase compared to the previous year. North and South America represent the largest regional market, accounting for approximately 764 million USD. The average selling price in this region is significantly higher than in other markets, primarily due to the high proportion of feature-rich and high-speed 4G LTE and 5G devices in the product mix. The market sizes for Europe and the Asia-Pacific region are projected to be 424 million USD and 343 million USD, respectively. Berg Insight forecasts that the market will grow at a compound annual growth rate (CAGR) of 12.0% over the next five years, reaching 2.8 billion USD by 2028. [Contents] ■ IoT Networking and Communication ■ Market Forecast ■ Market Trends ■ Company Profiles and Strategies
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Publisher: Berg Insights Publication Month: November 2024 Report Language: English *For more details, please visit our website or refer to the sample materials.
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