LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global ZigBee-enabled smart thermostat market to grow at a striking CAGR exceeding 67% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global ZigBee-enabled smart thermostat market for 2016-2020. To calculate the market size, Technavio considers the number of unit shipments of ZigBee-enabled smart thermostats to end-users, including individual customers and commercial customers that are focused on reducing energy consumption.
Technavio hardware and semiconductor analysts highlight the following four factors that are contributing to the growth of the global ZigBee-enabled smart thermostat market:
- Rise in ZigBee Alliance membership
- Emergence of various ZigBee standards to support IoT devices
- Need for low-energy wireless technology
- Increase in demand for energy-efficient HVAC equipment
Rise in ZigBee Alliance membership
The rapidly emerging IoT market worldwide is prompting different industries to join ZigBee Alliance. The alliance offers global wireless standards. It aids member companies in developing products that are compatible with ZigBee-certified products. “Currently, the alliance has more than 400 members, working collaboratively to develop simple and easy-to-use ZigBee standards and products that define the IoT for use in consumer, commercial, and industrial applications. This number is expected to rise further with the growing popularity of ZigBee wireless technology over other OEM technologies,” says Sunil Kumar Singh, a lead analyst at Technavio for embedded systems.
The alliance membership consists of three levels:
- Promoters: represents the most powerful participating level in the alliance, where the members have full voting rights and represent the board of directors.
- Participant members: members have voting rights, are actively involved in ZigBee development, and have early access to product development guidelines and standards.
- Adopter members: members can access the completed guidelines and standards for ZigBee.
Emergence of various ZigBee standards to support IoT devices
New ZigBee standards have emerged to address the need for connecting several products such as gateways, home appliances, and entertainment systems with a common wireless standard.
In November 2014, ZigBee Alliance announced the release of its ZigBee 3.0 wireless standard that will enable interoperability among various products related to home automation, healthcare, energy management, lighting, and retail. In addition, ZigBee 3.0 supports an application library wherein the sensing devices can be used to control and measure lighting, humidity, occupancy, pressure, and temperature. This standard is fully IP compatible. Hence, ZigBee devices can be connected to the internet via a gateway or router and can be controlled by any device such as PCs and smart phones without the need to have a ZigBee chip in them. ZigBee Alliance has addressed the need for application-level standardization.
Need for low-energy wireless technology
ZigBee, which operates on the IEEE 802.15.4 standard, is a wireless communication technology that has the added advantages of efficient power management and ease of installation. ZigBee is the best substitute for high-power-consuming batteries and can connect a number of devices in smart homes. Batteries, which can maintain a wide number of devices, are not environmentally friendly due to the harmful chemical and heavy metal content in them. “The mining process for batteries consumes a lot of water, energy, and chemicals, resulting in a heavy carbon footprint. The low battery life and eventual disposal of used batteries are major environment threats. The ZigBee wireless network counters the disadvantages regarding the manufacturing, distribution, and disposal of batteries,” says Sunil.
Increase in demand for energy-efficient HVAC equipment
The majority of power generation infrastructure uses non-renewable fuels. Hence, energy efficiency has gained in importance over the last decade. Average annual energy costs have risen along with the rise in the use of energy-consuming devices that include compressors, pumps, HVAC equipment, lighting systems, and electrical and electronic devices by both residential and commercial users. This has stimulated the market for devices (such as smart thermostats) that are energy efficient or help users attain energy efficiency.
Browse Related Reports:
- Global ZigBee-enabled Devices Market 2016-2020
- Global ZigBee STB Market 2015-2019
- Global Remote Market 2016-2020
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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