IoT in Consumer Electronics Market Research Report- Global Forecast to 2023

IoT in Consumer Electronics Market research report by product (smart TV, smart phones, wearable devices, kitchen appliances, printers), deployment (on-cloud, on-premise), connectivity ( NFC, Bluetooth, Wi-Fi, Zwave, ZigBee) – Forecast till 2023

ID: MRFR/SEM/0491-HCR | February 2021 | Region: Global | 145 pages

IoT in Consumer Electronics Market Overview  


In 2019, IoT in consumer electronics market estimated to reach USD 124 billion at a CAGR of 24.16% during the forecast period (2017-2023).


Internet of Things (IoT) is a smart device with a wide spread of applications changes user lives in day-to-day activities. Consumer IoT to this Internet of Things (IoT) is designed for consumer applications and devices. These consumer electronics are gaining momentum every day. For the manufacturers of consumer electronics, IoT provides new products to the customers which can cross function with other devices and offers new revenue opportunities. The internet connecting with home appliances reduces the workload of humans. During the daily usage of applications, the data regarding them are recorded and stored on the data server.


An American Multinational Technology company, IBM corporation provides an open-source IoT platform named Kaa. This middle ware platform can manage, collecting, and analyzing every aspect of connected devices. It is compatible with smart TVs, smart home appliances, wearable, computer chips, and other devices and also allows cross-device collaboration, remote monitoring, and various additional features.


COVID-19 Analysis:


Due to the spread of the COVID-19, various countries have implemented lockdowns, shutdowns of business sectors, and many stringent regulations to maintain social distance to control the virus spread. Due to the shutdown of business sectors across the globe, the IoT in consumer electronics market is negatively impacted as the prices of chips, sensors, and other components which are used in the production of IoT devices are increasing. Due to the halts to the production and exhaustion of stocks by the consumer IoT companies for few months, the demand for IoT electronics reduces. However, as the lockdown is implemented all over the world and people are preferring to stay in the home itself may increase the consumption of IoT in consumer electronics which rapidly increases the growth of the IoT in consumer electronics market.

Market Dynamics:



  • Drivers:


The growth of cloud computing, rise in usage of smartphones and tablets for controlling IoT devices, and developments in IoT security is driving factor for increasing the demand for IoT in consumer electronics market. The usage of the internet in various applications like industries, enterprises, and residents rises the demand for the IoT in consumer electronics market. Due to the huge investment of consumer IoT companies to develop the new technologies in IoT is the major driver of the market.


The rise in disposable income and growing awareness about the benefits of IoT are boosting the IoT in consumer electronics market. The other major factors that drive the market are growing consumer preference for increased convenience and a better lifestyle, increasing significance of home monitoring from remote locations, increasing government regulations for the security of IoT devices, and increasing adoption of smart and multimedia devices. 



  • Restraint:


The increasing rise of risks of privacy of data, breaches related to consumer IoT and the power consumption of connected devices are increased are the factors that restraints the IoT in consumer electronics market.



  • Opportunities:


Growing investments of governments in the research and development of IoT and increasing government regulations to promote green buildings are the increasing opportunities for consumer IoT companies during the review period.



  • Challenges:


The increasing lack of common protocols and communication standards, increasing the risk of device malfunctioning, and the increasing power consumption for internet-connected devices are the major challenges of the market.


Segment Overview:


The global IoT in consumer electronics market has been divided into segments based on product, deployment, connectivity, and region.



  • Based on Product: The global consumer IoT electronics market based on the product is classified into a smart TV, smartphones, wearable devices, kitchen appliances, laptops, printers, washing machines, dishwashers, and many more. The home automation devices are dominating the IoT in consumer electronics market share during the forecast period for reducing costs and conserving energy across home applications.

  • Based on Deployment: the global IoT in the consumer products market is segmented into on-premise and on-cloud.

  • Based on Connectivity: The global IoT in Consumer Electronics Market Segment by connectivity is bifurcated into Bluetooth, NFC, Wi-Fi, Z-Wave, Zigbee, and others. Wi-Fi is used in place of existing Ethernet-based communication to provide easy access and short-range wireless connectivity. Monitoring and operating the connected devices made easy when all the smart devices like refrigerators, kitchen appliances, TV, smartwatches, and other smart devices to one common device Wi-Fi. Hence helps in reducing the spectrum connectivity cost and is easy to deploy.

  • Based on Region: Region-wise, the global IoT in the consumer products market is divided into Europe, Asia-Pacific, North America, and the Rest of the world. Out of these regions, the Asia-Pacific region is expected to dominate the market during the forecast period due to their early adoption of IoT products and being technically advanced.


Regional Analysis 


The global IoT in consumer products is regionally divided into Europe, Asia-Pacific, North America, and the Rest of the world. Asia-Pacific region is expected to show significant growth during the forecast period for their early adoption of IoT products. Moreover, this region is technically advanced in the IoT in consumer electronics market. Additionally, in this region, the penetration of the internet across enterprises, huge investments by companies, industries, and residents to develop IoT are the major driving factors for the consumer IoT market.

Competitive Landscape


The prominent key players in the IoT in consumer electronics market trends are the following:



  • IBM Corporation (U.S)

  • Intel Corporation (U.S)

  • GainSpan (U.S)

  • Apple Inc.(U.S)

  • io (U.S)

  • Libelium Comunicaciones (Spain)

  • Qualcomm Technologies (U.S)

  • Silicon Laboratories (U.S)

  • Lantronix, Inc. (U.S)

  • ARM Holdings Plc., (U.K)

  • Symantec (U.S)

  • PTC (U.S)

  • Texas Instruments (U.S)

  • Hewlett Packard Enterprise (U.S)

  • STMicroelectronics (Switzerland)

  • Cisco Systems (U.S)

  • Amazon Web Services (U.S)

  • Ayla Networks (U.S)

  • Losant IoT (U.S)

  • Notion (U.S) and

  • Pepper (U.S)


Recent Developments



  • A Chinese IoT platform, Tuya Smart is partnered with the U.S market developments in the connected devices market. Tuya offers smart Wi-Fi modules and cloud connectivity devices to the market development.

  • Qualcomm Telecommunications launched smart audio devices capable of IoT and expands their footprint in audio devices.

  • In April 2018, one of the leading company TE connectivity started connectivity and sensor solutions for the global automobile industry. These sensor solutions offer autonomous driving and mobility.


Report Overview:


This global IoT in consumer electronics market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the IoT in consumer electronics market drivers, restraints, challenges, and opportunities. The consumer IoT electronics market forecast segments are product, deployment, connectivity, and region.

Segmentation Table


The IoT in consumer electronics market trends has been segmented globally based on the product, deployment, connectivity, and region.



  • By Product: Smart TV, smartphones, wearable devices, kitchen appliances, laptops, printers, washing machines, dishwashers, and many more. 

  • By Deployment: On-premise and on-cloud.

  • By Connectivity: Bluetooth, NFC, Wi-Fi, Z-Wave, Zigbee, and others.

  • By Region: Asia-Pacific, Europe, North America, South America, and the Middle East & Africa are the five main geographies included in this market.


Study Objectives -



  • To provide detailed information about the IoT in consumer electronics structure along with various forecast segments and sub-segments for the next 10 years.

  • To provide the factors that are affecting the growth of the IoT in consumer electronics market value.

  • To analyze the IoT in consumer electronics market industry analysis based on porter’s five force analysis, factors-price analysis, supply chain analysis, etc.

  • To provide history and forecast revenue segments and sub-segments of the IoT in consumer electronics market revenue for the five main geographies.

  • To provide the country-level analysis of the current IoT in consumer electronics market size and future prospective.

  • To provide country-level analysis of the IoT in consumer electronics industry growth by region, form, and application.

  • To provide a strategic profile of the prominent key players in the market, analyze their core competencies, and draw a global IoT in consumer electronics market growth landscape.

  • To track and analyze new product developments, strategic alliances, and global IoT in consumer electronics market research.



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 124 Billion
  CAGR   24.16%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   product, deployment, connectivity
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Intel Corporation (U.S.), IBM Corporation (U.S.), Gainspan (U.S.), Apple Inc. (U.S.) Particle.io (U.S.), Libelium Comunicaciones (Spain), Qualcomm Technologies (U.S.), Silicon Laboratories (U.S.), Lantronix, Inc. (U.S.), ARM Holdings Plc., (U.K), Symantec (U.S.), PTC (U.S.), Texas Instruments (U.S.), Hewlett Packard Enterprise (U.S.), STMicroelectronics (Switzerland), Cisco Systems (U.S.), Amazon Web Services (U.S.), Ayla Networks (U.S.), Losant IoT (U.S.), Notion (U.S.), Pepper (U.S.)
  Key Market Opportunities   For consumer electronics manufacturers, IoT is enabling new revenue opportunities by providing new products to the customers which helps in cross functioning with other devices.
  Key Market Drivers

  • The rise of cloud computing.
  • Increase in usage of smartphones and tablets for controlling IoT devices.
  • Developments in IoT security.


  • Frequently Asked Questions (FAQ) :


    The rising demand for smart technology by the people in developing and developed areas particularly is expected to generate revenue opportunities for the market.

    The regional segments profiled are - North America, Europe, Asia-Pacific, and Rest of the World.

    Factors such as developing IoT technology, rising investments, and increasing disposable income, among others, are expected to boost the market’s growth in the region.

    The estimated valuation of the market will be around USD 120 Bn.