Market Analysis

Utilized high in home automation, ZigBee automation is gaining a lot of traction with possibilities to grow high in applications segments like smart home automation, smart lighting, media, entertainment, and security. Many vendors and manufacturers of electrical appliances have joined the ZigBee Alliance, to light the market potential. In many regions, the growth of ZigBee automation market is witnessing growth opportunities owing to the need for power minimization and reducing energy usages.

Market Research Future (MRFR) has published a research report about the global ZigBee automation market that forecasts hike for this market at 17.06% of CAGR between 2017 and 2023. The market is steadily approaching a market value of USD 14.20 billion by the end of 2023 due to the market growth, future opportunities and factors behind the growth of the market.

Zigbee Home Automation Market comprises of many upcoming key players such as Intel Corporation (U.S.), Qualcomm Incorporated (U.S.), Atmel Corp. (U.S.), Texas Instruments (U.S.), NXP Semiconductor N.V (Netherlands), STMicroelectronics N.V (Switzerland), MediaTek Inc. (Taiwan) Cypress Semiconductor Corporation (U.S.), EnOcean Gmbh (Germany), and NEXCOM International Co. Ltd. (Taiwan).

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Drivers & Constraints

Recently, a trend of growing inclination towards smart homes designing has been seen among the population which is hoping to be the key trend for market growth. It is calculated that the smart homes market is expected to witness a massive growth by 2020, concerning the rise in the number of smart home connected devices. In many developed nations, a lot of homes are being renovated into smart homes, wherein electronic devices, media, and entertainment gadgets and others are connected to interact with each other.

According to the MRFR report, a growing number of members in the ZigBee Alliance will be a crucial driver for market growth. The rapidly emerging IoT market worldwide is encouraging various industries to join the ZigBee Alliance for global wireless standards, as it aids member companies in developing products that are compatible with ZigBee-certified products.

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About Market Research Future:

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