The global Zigbee
Market 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 market is guided by the rising
tendency towards energy saving.
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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.
Market
Segmentation
On the basis of
standards, the market is segmented into ZigBee IP, ZigBee, ZigBee PRO, ZigBee
RF4CE, ZigBee remote control 2.0 and ZigBee 3.0.
On the basis of
application, the market is segmented into home automation, telecommunication
services, industrial automation, healthcare, retail services and smart energy
which is segmented into smart grid and smart metering and others.
Regional Outlook
It is projected
that the global Zigbee market will expand at a promising pace over the forecast
period. Zigbee business geographic research covers North America, Europe
(including Russia), Asia Pacific (including Australia and New Zealand), and the
rest of the world (including the Middle East, Africa, and South America).
North America
dominates the market among all regions, as this region has maximum industrial
automation and higher smart homes adoption. North America also has a higher
concentration of companies offering Zigbee goods and solutions to the platform.
Such vendors include major companies such as Texas Instruments and Microchip
technology, and many start-ups. The Zigbee market in North America is powered
by higher adoption of Zigbee at smart homes to reduce energy consumption.
In comparison,
Europe matches North America closely in the Zigbee market. Europe is a wide
in-car smart device market that uses Zigbee to attach. Europe also has a high
adoption of smart homes which contribute to the Zigbee market 's growth. Asia
Pacific is projected to be the fastest-growing area due to the rising consumer
electronics industry and the increasing trend towards smart device adoption.
Key players
The prominent
players in the market of Zigbee are, NXP Semiconductors N.V. (the Netherlands),
Renesas Electronics Corporation (Japan), STMicroelectronics (Switzerland),
Microchip Technology (U.S.), Texas Instruments Inc. (U.S.), GreenPeak
Technologies (the Netherlands), Digi International (U.S.), Silicon Laboratories
(U.S.).
Other vendors
include Dresden Elektronik, Nivis, LLC., California Eastern Laboratories,
Radios, Inc., Telegesis Ltd., Wisys Technologies, Sena Technologies, Develco
Products among others.
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