Market Research Future published a research report on “ZigBee Industry Research Report - Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The ZigBee Industry 2020, according to MRFR, is expected to witness substantial market value of USD 3.4 billion by 2023, at a moderate 8% CAGR over the review period.
Data transmission technology within a wireless network is referred to as Zigbee. Considering that Zigbee has low energy consumption, it is widely adopted in various applications such as multi-channel control systems, alarm systems, lighting control, and other industrial applications. Increasing inclination toward smart home around the globe is the primary factor forecast to fuel ZigBee activated devices demand in the coming years. The anticipated swift growth of the smart home market in various parts of the world is predicted to cause demand for intelligent consumer electronic devices and gadgets that remain linked to the traditional home network. Hence, the ZigBee Industry is guided by the rising tendency towards energy saving. Zigbee is more cost effective than other systems such as Bluetooth and Wi-Fi. Tendencies toward smart homes are rising Zigbee demand. Across numerous regions the smart home market is growing rapidly, which in turn drives demand for smart consumer electronics and connected devices using Zigbee. In addition , growing numbers of ZigBee alliances are also expected to increase the demand for ZigBee during the forecast period. Globally, the rapidly growing IoT (Internet of Thing) market is encouraging different industries to join the ZigBee alliance which provides global wireless standards. This partnership assists member companies in manufacturing different products with ZigBee accredited consumer compatibility. The number of alliances is expected to increase with other technologies in the coming years with the growing popularity of the ZigBee technology. However, one of the major factors restricting many smart home customers to embrace Zigbee activated devices at their home is the short range network and low data transfer speed. In addition , high replacement costs of ZigBee activated devices are also expected in the coming years to discourage the market of ZigBee enabled devices.
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The global ZigBee Industry is segmented on the basis of standard and application.
- On the basis of standard, the global Zigbee market is segmented into Zigbee, Zigbee PRO, Zigbee RF4CE, Zigbee IP, Zigbee remote control 2.0, and Zigbee 3.0.
- On the basis of application, the global Zigbee market is segmented into industrial automation, home automation, healthcare, telecommunications, retail services, and smart energy applications such as smart grids and smart metering.
The prominent players in the ZigBee Industry are, Digi International (U.S.), NXP Semiconductors N.V. (the Netherlands), Renesas Electronics Corporation (Japan), Microchip Technology (U.S.), STMicroelectronics (Switzerland), Texas Instruments Inc. (U.S.), GreenPeak Technologies (the Netherlands), Silicon Laboratories (U.S.).
Other vendors include California Eastern Laboratories, Dresden Elektronik, Nivis, LLC., Radios, Inc., Telegesis Ltd., Sena Technologies, Wisys Technologies, Develco Products among others.
The global Zigbee market is divided into North America, Europe, Asia Pacific (APAC), and Rest of the World.
North America is likely to remain the dominant market for Zigbee technology over the forecast period due to the growing demand for smart homes, smart grids, and smart metering from developed countries such as the U.S. and Canada. North America also witnesses a high degree of industrial automation, which is likely to be a major driver for the Zigbee market in the region over the forecast period. Industrial as well as residential applications of Zigbee technology are likely to rise steadily in North America over the forecast period, lending a steady impetus to the Zigbee market.
Europe is also likely to be a leading contributor to the global Zigbee market over the forecast period, due to the strong adoption of smart homes and smart grids. European countries have been at the forefront of the adoption of smart grid and smart metering technology and are likely to play pioneering roles in the development of the same over the coming years, driving the Zigbee market in the region. Automotive connectivity is also a highly viable channel for the Zigbee market in Europe, as Europe is the major global hub for automotive technological innovation and is likely to witness a progressive development of in-car connectivity options over the forecast period, driving the demand for wireless connectivity technologies such as Zigbee.
Asia Pacific is likely to exhibit the highest growth rate over the forecast period due to the increasing technological awareness of consumers in the region as well as the growing volume of the residential real estate market, which is likely to provide Zigbee vendors with a steadily growing sales channel due to the growing demand for smart homes.
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TABLE OF CONTENTS
LIST OF FIGURES
Figure 1 Research Network Solution
Figure 2 Zigbee Market: By Zigbee Standards (%)
Figure 3 Zigbee Market: By Application (%)
Figure 4 Zigbee Market: By Region
Figure 5 North America Zigbee Market, By Zigbee Standards (%)
Figure 6 North America Zigbee Market, By Application (%)
Figure 7 Europe Zigbee Market, By Zigbee Standards (%)
Figure 8 Europe Zigbee Market, By Application (%)
Figure 9 Asia-Pacific Zigbee Market, By Zigbee Standards (%)
Figure 10 Asia-Pacific Zigbee Market, By Application (%)
Figure 11 Row Zigbee Market, By Zigbee Standards (%)
Figure 12 Row Zigbee Market, By Application (%)
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