Surge in demand for smart homes with ZigBee enabled devices across the globe is the major factor that drives ZigBee market growth. In addition, increase in adoption of ZigBee products and services across different industry verticals is expected to supplement the market growth.
However, low data transfer speed and short-range network hamper the market growth. Furthermore, increase in adoption of internet of things (IoT) and mobile-based app across the globe is expected to provide lucrative opportunity for the global ZigBee market.
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ZigBee technology integrated products make homes more smarter, safer, comfortable, and energy efficient. Many large operators, utilities, and service providers are launching smart home applications such as appliances that can be monitored and controlled remotely from anywhere via smartphones or tablets. With the increase in demand for smart homes across the globe, demand for ZigBee technology is also expected to increase.
North America is expected to have the largest market share during the forecast period, owing to advancements in technologies and large number of ZigBee product and service providers.
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In addition, Asia-Pacific is also expected to witness a significant growth, owing to emerging economies such as India, China, and Japan and rise in demand for wireless technology devices that consume less power.
COVID-19 Scenario Analysis:
- Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 180+ countries around the globe with the WHO declaring it a public health emergency. The global impacts of the disease are already starting to be felt, and expected to significantly affect the ZigBee market in 2020.
- Though governments have imposed lockdowns to contain spread of the virus, all businesses are closed and most companies have initiated work from home for employees, which creates rise in demand for ZigBee technology.
Key benefits of the report:
- This study presents analytical depiction of the global ZigBee market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the ZigBee market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global ZigBee market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed ZigBee market analysis based on the present and future competitive intensity of the market.
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