Most of the industries today are going wireless, and the transfer of data while making use of this wireless network technology can be defined as ZigBee. One of the most prominent features of the ZigBee Automation Market is that it makes use of lower levels of energy, and is more prevalent as use in the alarm, as well as the multi-control systems. Also, lightning control, along with the other industrial applications can well make use of the ZigBee Technology. This technology covers the range of 50-100 meters and is one of the most convenient systems for communication. This is relatively better in comparison to the BlueTooth or WiFi, as far as the wireless sensors networks of the short ranges are concerned.
Owing to the assistance offered by the ZigBee Automation Market, the market is expected to register a growth USD 7.91 billion at 8.60% CAGR by the end of the global forecast period of 2020-2030.
The spread of the global coronavirus pandemic has majorly affected the market, production, and manufacturing levels to a major extent. Since March 2020, most of the production units have either shut down because of the lockdown, some have given up in competition and forced to stop the operations due to an absence of raw material and investment, which might help to reach the market equilibrium to match the demand and supply.
The spread of the coronavirus has left people to go online, from ordering the basic groceries to the MNC’s shifting to the mode of work from home, the dependence on the internet is becoming a reality. Apart from the dependency, the internet is turning to be a basic necessity for working and operations. During the global spread of the health crises, the activities of various sectors, as well as the businesses are growing their dependence on digital technologies on a very large scale.
The market is witnessing a sharp rise in the demand for low levels of energy consumption in the form of lighting solutions. This is the main reason due to which, the market is expected to grow considerably by the end of the global forecast to 2023. Also, IoT technology is undergoing huge investments which are providing the much-needed push to the architecture. This, in turn, is helping the Zigbee-enabled services to grow largely by the end of the future forecast.
The Target Audience is developing an inclination towards the ZigBee Market. The reason behind this is that the market is relatively more economical and is accelerating the needs of Smart Homes, which are prevalent in different classes of the population. The idea of adopting smarter homes with the help of the ZigBee Market is spectating a growth in different market regions by providing solutions for the customer electronics, as well as the use of connected devices with the help of ZigBee.
Cumulative Growth Analysis:
Global ZigBee Market is the one that is not expensive or makes use of higher energy levels. Also, it is like a wireless network that can be used for deployment in devices that support a long battery life when it comes to wireless control, as well as the controlling of the applications. The ZigBee chips are combined with radios, that can be operational in different fields like industrial, scientific, as well as, medical.
This is one of the most important factors that promises good growth to the market by the end of the global forecast period in 2023. The current market focus lies on the increased throughput of the high data, as well as, a set of applications that need simple wireless connectivity, along with low power, and short distance usage.
Value Chain Analysis:
There is an increased investment from the side of the government, as well as the private corporates. People are adopting smart home technologies in huge numbers and are awaiting, to begin with, the perceived products like voice-based assistants, and smarter security systems. With this, the ZigBee application for communication is meeting the prevalent needs of the customers, and providing them with updated, and technology-based solutions.
The ZigBee Market Size is emerging and the future growth of the same is prevalent in the performance of the market segments. The global market is segments based on the following:
The application segment of the market includes home and industrial automation, telecommunication and retail services, the healthcare sector, as well as smart energy. However, the smart energy segment is sub-segmented into the smart grid, metering, and much more.
The smart home and building sector is witnessing propelling the growth as a result of the emergence of automation in the field. ZigBee is making use of the transfer mechanisms, as well as broadening the addresses both directly, and in groups.
The market is currently functioning in the North American regions, European nations, the Asian Pacific regions, along the rest of the world.
The Standard Market Segment includes the following:
Global ZigBee Market Size is expected to be ruled by North America. The North American region has its maximum population opting for industrial automation, as well as demand for smart homes. Also, this region has the highest concentration of companies that are dealing with the provision of ZigBee products, and solutions, to the customers. The demand for smarter homes is backed by the reduction in the consumption levels of energy, which is also boosting the growth for North America.
Next up, after North America, are the European Nations, which are expected to grow at a promising rate by the end of the global forecast in 2023. The European market is seeing the adoption of in-car devices that make use of the ZigBee services for connectivity. Also, the population is greatly demanding smart homes. Post, Europe, the APAC region is also expected to grow at the fastest rate by the end of the future forecast year of 2023. The region is witnessing the emerging trend that is prevailing in context to the adoption of smart services, as well as the customer electronics companies.
The Competitive Landscape includes the Key Market Players that are making a difference to the ZigBee Market Analysis. These are:
Companies like Texas Instruments, along with many other startups are catering to the need for smarter homes and complying with the need by providing ZigBee-based product range, as well as, platform solutions, to the intended customers.
The ZigBee Market Analysis Report takes into consideration the current market trends that are related to the demand, supply, and sale of services, along with the recent developments. The major drivers and opportunities for the market growth are also covered after taking into consideration, the impact of coronavirus on the market functions. An exhaustive picture of the market is presented in the report that talks about the policies that are prevalent to the market segments, as well as the geographical locations. Hence, the overall functioning framework of the market is discussed for a better understanding of the factors that have a direct impact on the growth and operations of the market.
|Market Size||USD 7.91 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Standard, Application|
|Geographies Covered||North America, Europe, Asia-Pacific|
|Key Vendors||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.)|
|Key Market Opportunities||The Target Audience is developing an inclination towards the ZigBee Market.|
|Key Market Drivers||The market is witnessing a sharp rise in the demand for low levels of energy consumption in the form of lighting solutions.|
Frequently Asked Questions (FAQ) :
The trend of smart homes can gain immense traction in the market.
ZigBee RF4CE, ZigBee, ZigBee IP, ZigBee PRO, ZigBee 3.0 and ZigBee remote control 2.0 are the segment-based market segments.
Multi-channel control systems, alarm systems, lighting control, and others are the different applications of ZigBee.
The global market is dominated by North America.
Expanding consumer electronics industry along with the trend of rising adoption of smart devices makes APAC the fastest growing market.