Market Scenario
The Zig-Bee Home Automation Market is expected to reach roughly 14.20 USD billion by the end of 2023 with 17.06% CAGR during forecast period 2017-2023.
Market Highlights:
The markets are rising gradually in different geographies, but are expected to expand rapidly in the forecast era. The Zig-bee Automation 's growth can be traced back to the need to optimize power and rising energy uses. At the moment, Zigbee Automation is facing the task of modifying the existing working standards / protocols, resulting in increased re-manufacturing costs. Rising inclination toward smart home around the globe is the primary factor forecast to fuel ZigBee activated devices demand in the coming years. It is predicted that the expected rapid growth of the smart home industry in different parts of the world will generate demand for smart consumer electronic products and gadgets that remain linked to the traditional home network. This in turn is anticipated to affect the demand of enabled ZigBee devices in terms of overall operating costs and availability due to its competitive over other wireless networks such as WiFi, Z-Wave or oceania. Furthermore, one Zig-Bee enabled device has the ability to connect to a number of devices in a smart home that is expected to boost its demand over the next few years. In addition , a growing number of ZigBee alliances are also predicted to increase the market for ZigBee over the review period during the forecast period. Globally, the rapidly rising IoT (Internet of Thing) industry is enabling diverse sectors to engage in the regional wireless standards-providing ZigBee partnership. The number of alliances is expected to increase over other technologies in the coming years with the increasing popularity of the Zig-Bee technology. Short range network and low data transmission speed are, however, one of the major factors restricting many smart home customers to use Zigbee-enabled devices at home.
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Segmentation:
For the scope of this study, Market Research Future has segmented the market of Zig-Bee Home Automation Market into Application, Product, and Region.
Based on the product, the market has been segmented into zig-bee home automation, zig-bee light link, zig-bee smart energy, and others.
Based on the applications, the market has been segmented into smart homes, connected lights, wearable devices, healthcare, consumer electronics and others.
Regional Analysis:
Based on geographic segmentation, the demand for Zigbee Automation is divided into North America , Europe, APAC and Rest of the World. North America and Asia Pacific countries like the US, China, Japan and South Korea are experiencing tremendous growth in Zigbee Automation within the global geography. This is largely because of the emerging Internet of Things technology and connected devices. The market for connected devices is estimated to reach around USD 72 billion by 2022, which includes mostly smart homes, smart cities and the Industrial Internet of Things. In countries such as India, the Netherlands and the UK, the market is rising strongly due to significant digitalisation trends.
Zigbee remote market is expected to expand at a huge pace in the APAC region. Being the development center for electronic and display goods, entertainment and gaming industries will be in high demand on the market. This will also lead to a considerable growth in the electronic consumer market. As a result , China and the US will share the market at the same level with regard to IoT connectivity, including the Zigbee networks, by the end of 2025. Japan will be Zigbee Automation's third-largest market.
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Key Players:
Zigbee Home Automation Market comprises of many imminent key players such as Intel Corporation (U.S.), Texas Instruments (U.S.), Qualcomm Incorporated (U.S.), Atmel Corp. (U.S.), STMicroelectronics N.V (Switzerland), NXP Semiconductor N.V (Netherlands), MediaTek Inc. (Taiwan) EnOcean Gmbh (Germany), Cypress Semiconductor Corporation (U.S.), and NEXCOM International Co. Ltd. (Taiwan). Apart from these, many developing companies and other diversified companies are entering into the Zigbee Alliance.
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