ZigBee Market – The Era of Smart Home Technology; New TMR Report Explores Impact of COVID-19 Outbreak on Market

ZigBee is a wireless technology that helps to establish device to device communication or machine to machine communication. ZigBee works on 802.15.4 physical radio specification of approved by  (Institute of Electrical and Electronics Engineers) in various unsanctioned bands such as 2.4 GHz, 868 MHz and 900 MHz. Standard  802.15.4 is a radio protocol that helps in communicating devices within a specific range of network configurations and is specially used for battery operated and low-cost devices. ZigBee enabled devices have a long operating life and consume very low power. ZigBee enabled device is predicted to experience a lot of traction and exponential growth rate during the forecast period owing to its increasing demand in home automation.

For the purpose of providing detailed analysis, the global ZigBee market can be segmented on the basis of product type, end user and geography. Based on product type the  ZigBee market has been classified into set top box (STB), smart meters, remote controls, connected bulbs and smart thermostat among others. Zigbee enabled devices are also used across various end user segments including commercial sector and residential sector.

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The commercial sector can be further bifurcated into educational institute, office and industry among others. The report also provides cross sectional analysis of various product type and end user segment across different regions including Europe, North America, Asia Pacific, Latin America and Middle-East and Africa (MEA). The report also covers the current market scenario along with various growth prospects that are anticipated to effect the demand of ZigBee enabled devices during the forecast period from 2017 to 2025.

Rising inclination towards smart home across the globe is the primary factor predicted to boost the demand of ZigBee enabled devices in the coming years. The anticipated rapid growth of the smart home market in different parts of the world is predicted to trigger the demand of smart consumer electronic devices and gadgets that remain connected to the common home network. This in turn is expected to affect the demand of ZigBee enabled devices owing to its competitive over other wireless network such as WiFi, Z-Wave or oceania in terms of overall operating cost and availability. In addition, one ZigBee enabled device has the ability to connect to number of devices in a smart home which is expected foster its demand in the coming eight years. Moreover, increasing number of ZigBee alliances is also predicted to augment the ZigBee market during the forecast period from 2017 to 2025. The rapidly growing IoT (Internet of Thing) market globally is encouraging different industries to participate in the ZigBee alliance that provides global wireless standards. This alliance supports the member companies to to manufacture different products having compatibility of ZigBee certified products. In 2016, the alliance consist of more than 400 members and is working together to innovate a simple and user friendly ZigBee enabled products and standards that can be used in various commercial, residential and industrial applications. The number of alliances is anticipated to increase in the coming years with the rising popularity of ZigBee technology over other technologies.

However, short range network and low data transfer speed is one of the major factors limiting many smart home consumers to adopt Zigbee enabled devices in their home. In addition high replacement cost of ZigBee enabled appliances is also expected to deter the demand of ZigBee enabled devices in the coming years.

Based on product type, the global ZigBee market is majorly driven by the connected bulb segment during the forecast period. Connected bulbs saves energy and can be easily connected with other smart devices. The market of connected bulbs is anticipated to exhibit the fastest growth rate in the coming years owing to factors such as global warming and rapid exhaustion of non-renewable energy sources. These factors trigger the need of energy conservation and in turn are predicted to increase the adoption rate of these bulbs during the forecast period.

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Geographically, due to high presence of the smart home in North America, this region held the largest market share of the ZigBee market across various regions in 2016. The ZigBee market of North America is followed by Europe. However, Asia Pacific region is at the nascent stage and is predicted to experience a promising growth owing to the growing demand for wireless technology devices that consumes less power.

The global ZigBee Market is highly competitive and fragmented in nature with the presence of large number of market players. Some of the major players operating in the ZigBee enabled device market include Atmel (U.S), NXP Semiconductors (Netherlands) and STMicroelectronics (Switzerland) among others.

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