DUBLIN--(BUSINESS WIRE)--The "ZigBee Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The ZigBee Market is expected to register a CAGR of over 9.2% during the forecast period (2019-2024).
It is the low-cost and low-powered mesh network that is widely deployed for controlling and monitoring applications, covering the range of 10-100 meters. This communication system is less expensive as well as simpler than the other proprietary short-range wireless sensor networks such as Bluetooth and Wi-Fi connectivity.
Owing to the increasing consumer electronics industry due to the rising trend towards the adoption of smart devices is expected to drive the application of ZigBee based communication services used for monitoring and controlling devices based on IEEE 802.15.4 across the emerging economies.
Growing demand for the ZigBee broad-based deployment of wireless networks with low-cost, low-power solutions, that provides the ability to run for years on inexpensive batteries for a host of monitoring and control applications across smart energy/smart grid & building automation systems with significant advancements is expected to drive the market.
The rapid growth in the IoT applications across both commercial as well as residential sector is propelling the demand for the high replacement cost of Zigbee enabled appliance.
Key Market Trends
Smart Homes & Building Sector is Gaining Traction Due to Emergence of Automation
- ZigBee network is primarily intended for low-duty cycle sensors, those active for less than 1% of the time. It is an IEEE 802.15.4-based suite used for high-level communication across the smart home ecosystem, due to its close proximity, low data rate, and low power system features.
- Zigbee uses a variety of information transfer mechanisms, such as direct, group, and broadcasting addresses. Mesh network in this internet protocol can be established, which enables the long-distance communication of information across the building automation sector.
- Further, with the increasing investments and adoption of smart home technologies, consumers start to perceive products, such as voice-activated assistants and smart security systems, as standard household items rather than redundant luxuries, thereby driving the application of the Zigbee communication product integrated across the end-user industry.
North America to Register as the Largest Market During the Forecast Period
- Smart homes are on the rise across North America where people in the region are increasingly looking to automate their homes. Dependence on their smartphones and mobile apps is set to increase as smartphones offer an attractive and intuitive window into controlling smart home technology.
- With nearly 30 million U.S. households projected to add smart home technology, the products consumers are looking to add to their homes include connected cameras, video doorbells, connected light bulbs, smart locks, and smart speakers, that find the application of Zigbee standards for its communication medium.
- Also, the adoption of voice-powered smart speakers is taking off, with an estimate of smart devices such as the Amazon Echo, Google Home, and Sonos One that will be installed in most of the U.S. households, thereby driving the application of the Zigbee connectivity medium during the forecast period.
The ZigBee market is moderately competitive and consists of a few major players. In terms of market share, some of the players currently dominate the market. However, with the advancement in communication technology across the connectivity medium, new players are increasing their market presence thereby expanding their business footprint across the emerging economies.
- September 2019 - Silicon Labs has launched a new portfolio of highly integrated, secure Wireless Gecko modules that reduce development cost and complexity, making it easier to add robust mesh networking connectivity to a wide range of Internet of Things (IoT) products. The new MGM210x and BGM210x Series 2 modules support leading mesh protocols (Zigbee, Thread and Bluetooth mesh), Bluetooth Low Energy and multiprotocol connectivity, thereby offering a one-stop wireless solution to improve mesh network performance for line-powered IoT systems ranging from smart LED lighting to home and industrial automation.
- July 2019 - Digi International announced its family of Digi Connect IT serial consoles: Digi Connect IT Mini, Digi Connect IT 4, Digi Connect IT 16 and Digi Connect IT 48. These infrastructure management solutions are ideal to connect remote IT devices in the data center or to connect customer premises equipment, like routers, in a branch office with options from a single device to fully populated racks.
Key Topics Covered
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Adoption of Connected Devices Across Industrial Automation & Smart Homes
4.2.2 Rising Trend of Low Cost with High Performance Equipment Across IoT Ecosystem
4.3 Market Restraints
4.3.1 Complexity in the Manufacturing of Networking Equipment with ZigBee Standards
4.4 Industry Attractiveness - Porter's Five Force Analysis
4.5 Technology Snapshot
5 MARKET SEGMENTATION
5.1 By End-user Industry
5.1.1 IT & Telecommunication
5.1.2 Residential Automation
5.1.3 Industrial Automation
5.1.5 Retail (Digital Ecommerce)
5.1.6 Other End-user Industries
5.2.1 North America
5.2.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Texas Instruments Incorporated
6.1.2 NXP Semiconductors N.V.
6.1.3 Microchip Technology Inc.
6.1.4 Silicon Laboratories Inc
6.1.5 Digi International Inc.
6.1.6 Sena Technologies Inc.
6.1.7 Nordic Semiconductor ASA
6.1.8 Qualcomm Technologies Inc.
6.1.9 Semiconductor Components Industries LLC (ON Semiconductor)
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/7qlbmi