image

REPORT SCOPE & OVERVIEW:

The Zigbee market size in 2023 is set to reach USD 4.1 billion, and by 2031 it's expected to have reached USD 8.25 billion with a compound annual growth rate of 9.3% over the forecast period from 2024-2031.

In the growing world of wireless technology, ZigBee stands out as a leader in low-power data transfer. Unlike Wi-Fi and Bluetooth, which prioritize specific devices, ZigBee utilizes a mesh network. This allows various devices in a smart home, from alarms to sensors, to communicate seamlessly over short distances (50-100 meters) with minimal energy consumption. This makes ZigBee perfect for smart home applications where consistent, low-power connectivity is crucial. With traditional wireless options focusing on individual devices, ZigBee's mesh network approach is driving the smart home market forward by ensuring all devices can reliably communicate within a designated area.

Zigbee-Market Revenue Analysis

Get more information on Zigbee Market - Request Sample Report

Furthermore, the growing global demand for smart cities and smart homes drives the demand for smart consumer electronics and connected devices that use ZigBee technology, driving ZigBee market growth.

MARKET DYNAMICS: 

KEY DRIVERS:

  • Low Power Consumption and Long Battery Life

Zigbee excels in low-power communication. This translates to battery-powered devices lasting for months or even years on a single charge. This is crucial for smart home devices that may be difficult to access for frequent battery changes.

  • Increasing demand for smart homes and the Internet of Things devices

RESTRAINTS: 

  • Competition from Other Protocols

Zigbee faces competition from other wireless protocols like Wi-Fi, Bluetooth, and Z-Wave. While Zigbee offers advantages in low-power consumption and mesh networking, these competing protocols may be more suitable for specific applications.

  • Slower Data Transfer Rates

OPPORTUNITIES: 

  • Rising Demand for Interoperability and Open Standards

The increasing demand for smart devices to work together seamlessly across different brands aligns well with Zigbee's standardized protocols. As consumers seek a more unified smart home experience, Zigbee's role in promoting interoperability can become a key selling point.

  • Expansion Beyond Smart Homes

CHALLENGES: 

  • Consumer expectations for smart home technology are constantly evolving

As users demand richer experiences with features like high-definition video streaming or complex automation, Zigbee's limitations in data transfer speed might become more apparent, potentially leading some consumers towards alternative protocols.

IMPACT OF RUSSIAN UKRAINE WAR

The ongoing Russia-Ukraine war has sent ripples through the Zigbee market, with estimated impacts ranging from 30% to 45%. This disruption is multi-faceted, with several key factors at play. Firstly, the conflict has exacerbated the already strained global supply chain, potentially resulting in a 15-20% decrease in the availability of Zigbee chips. These crucial components are the backbone of Zigbee technology, used in various smart home devices.

Secondly, Europe stands as a significant market for smart home technologies, with reduced consumer spending in the region due to the uncertainties of the war projected to lead to a 10-15% decline in Zigbee product demand. This dip in demand further complicates the market landscape, potentially slowing down the anticipated growth.

Adding to these challenges are the sanctions imposed on Russia, a possible producer of Zigbee chips. These sanctions could further constrict supply by 5-10%, adding another layer of complexity to the market's outlook.

IMPACT OF ONGOING RECESSION

An economic slowdown poses significant challenges for the Zigbee market, potentially denting its growth by 10-22%. The effects of such a slowdown are far-reaching, affecting both consumer behavior and business investments in smart technologies.

For consumers, facing tighter budgets during economic downturns often means delaying purchases of non-essential smart home devices that utilize Zigbee technology. This delay could contribute to a potential decline of 5-10% in the Zigbee market as individuals prioritize essential expenses over luxury items.

Businesses, similarly affected by economic uncertainties, might choose to postpone investments in smart building technologies that rely on Zigbee for automation and energy management. This delay could lead to a further 3-7% contraction in the market as commercial entities adopt a cautious approach to capital expenditure.

Moreover, economic slowdowns can disrupt supply chains, affecting the availability of Zigbee chips and components. This disruption could hinder production by 2-5%, adding another layer of challenge for manufacturers and developers within the Zigbee ecosystem.

MARKET SEGMENTATION:

By Standard Type

  • ZigBee RF4CE

  • ZigBee

  • ZigBee PRO

  • ZigBee 3.0

  • ZigBee remote control 2.0

  • ZigBee IP

The ZigBee 3.0 protocol will remain dominant throughout the forecast period. This protocol is tailored for efficient data transmission in noisy RF environments, making it particularly suitable for a wide range of commercial and industrial applications. By integrating market-specific application profiles, the 3.0 version enhances the existing Zigbee connectivity standard. This advancement enables seamless wireless integration of all devices within a network, irrespective of their market classification or intended purpose.

By Device Type

  • Zigbee Home Automation

  • Zigbee Smart Energy

  • Zigbee Light Link

  • Others

The ZigBee smart energy sector currently commands a significant portion of the market share and is expected to maintain a steady growth throughout the forecast period. ZigBee Smart Energy offers a range of capabilities aimed at enhancing energy efficiency. These include the ability to randomize start and end times to mitigate energy spikes, a diverse array of control methods such as duty cycling and emergency alerts, and support for real-time monitoring of energy consumption data.

By Application

  • Home Automation

  • Industrial Automation

  • Telecommunication Services

  • Healthcare

  • Others

Zigbee Market Segment Analysis

 Get Customized Report as per your Business Requirement - Request For Customized Report

REGIONAL ANALYSIS:

Over the recent years, North America has been the dominant force in the Zigbee market, and this trend is expected to continue throughout the forecast period. The region boasts the highest rate of industry transition and strong demand for smart home technologies. Additionally, North America is home to numerous companies specializing in providing Zigbee products and services. With nearly 30 billion U.S. consumers already adopting connected devices such as cameras, video doorbells, light bulbs, smart locks, and smart speakers, the region remains a vibrant hub for Zigbee innovation and adoption.

Following closely behind, the Asia-Pacific region is poised to become the second-largest market for Zigbee in the coming years. The increasing adoption of smart services is a key driver behind the region's market expansion. Moreover, the burgeoning presence of consumer electronics companies is expected to further stimulate growth in the local Zigbee market over the next few years.

Zigbee-market By Region

REGIONAL COVERAGE:

North America

  • US

  • Canada

  • Mexico

Europe

  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America  

KEY PLAYERS:

Some of the major key players in the Zigbee Market are Digi International, Renesas Electronics Corporation, GreenPeak Technologies, STMicroelectronics, Hogar Controls, Qualcomm Incorporated, Texas Instruments Inc, Microchip Technology, DIgi-Key, NXP Semiconductors N.V, THIRDREALITY and other players.

RECENT DEVELOPMENT

  • Microchip Technology unveiled a new development tool in November 2021 to expand their Smart Embedded Vision initiative. This tool specifically aids designers working with the company's PolarFire RISC-V System on Chip (SoC) Field Programmable Gate Array (FPGA).

  • In December 2021, Silicon Labs, an emerging leader in the safety and intelligent telecommunications sector for a more interconnected world, launched its 3D Virtual Smart Home Platform.

Electronics Corporation-Company Financial Analysis

Company Landscape Analysis

Zigbee Market Report Scope:
Report Attributes Details
Market Size in 2023 US$ 4.1 Billion
Market Size by 2031 US$ 8.25 Billion
CAGR CAGR of 9.3% From 2024 to 2031
Base Year 2023
Forecast Period 2024-2031
Historical Data 2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments

• By Standard Type (Zigbee RF4CE, Zigbee, Zigbee PRO, Zigbee 3.0, Zigbee Remote Control 2.0, Zigbee IP)

• by Device Type (Zigbee Home Automation, Zigbee Smart Energy, Zigbee Light Link, Others)

• by Application (Home Automation, Industrial Automation, Telecommunication Services, Healthcare, and others)

Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Company Profiles Digi International, Renesas Electronics Corporation, GreenPeak Technologies, STMicroelectronics, Hogar Controls, Qualcomm Incorporated, Texas Instruments Inc, Microchip Technology, DIgi-Key, NXP Semiconductors N.V, THIRDREALITY
Key Drivers

• Low Power Consumption and Long Battery Life

• Increasing demand for smart homes and the Internet of Things devices

OPPORTUNITIES

•  Rising Demand for Interoperability and Open Standards

•  Expansion Beyond Smart Homes

Frequently Asked Questions

The ZigBee Market size was valued at 4.1 billion in 2023 at a CAGR of 9.3%.

Low level of energy consumption and IOT technology are the drivers of ZigBee Market.

The North America region is expected to dominate the ZigBee Market.

Yes, and they are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGO, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade/Industrial associations, End-use industries.

Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.

TABLE OF CONTENTS

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Industry Flowchart

 

3. Research Methodology

 

4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

 

5. Impact Analysis

5.1 Impact of Russia-Ukraine Crisis

5.2 Impact of Economic Slowdown on Major Countries

5.2.1 Introduction

5.2.2 United States

5.2.3 Canada

5.2.4 Germany

5.2.5 France

5.2.6 UK

5.2.7 China

5.2.8 Japan

5.2.9 South Korea

5.2.10 India

 

6. Value Chain Analysis

 

7. Porter’s 5 Forces Model

 

8.  Pest Analysis

 

9. Zigbee Market Segmentation, By Standard Type

9.1 Introduction

9.2 Trend Analysis

9.3 ZigBee RF4CE

9.4 ZigBee

9.5 ZigBee PRO

9.6 ZigBee 3.0

9.7 ZigBee remote control 2.0

9.8 ZigBee IP

 

10. Zigbee Market Segmentation, By Device Type

10.1 Introduction

10.2 Trend Analysis

10.3 Zigbee Home Automation

10.4 Zigbee Smart Energy

10.5 Zigbee Light Link

10.6 Others

 

11. Zigbee Market Segmentation, By Application

11.1 Introduction

11.2 Trend Analysis

11.3 Home Automation

11.4 Industrial Automation

11.5 Telecommunication Services

11.6 Healthcare

11.7 Others

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Eastern Europe

12.3.1.1 Poland

12.3.1.2 Romania

12.3.1.3 Hungary

12.3.1.4 Turkey

12.3.1.5 Rest of Eastern Europe

12.3.2 Western Europe

12.3.2.1 Germany

12.3.2.2 France

12.3.2.3 UK

12.3.2.4 Italy

12.3.2.5 Spain

12.3.2.6 Netherlands

12.3.2.7 Switzerland

12.3.2.8 Austria

12.3.2.9 Rest of Western Europe

12.4 Asia-Pacific

12.4.1 China

12.4.2 India

12.4.3 Japan

12.4.4 South Korea

12.4.5 Vietnam

12.4.6 Singapore

12.4.7 Australia

12.4.8 Rest of Asia Pacific

12.5 The Middle East & Africa

12.5.1 Middle East

12.5.1.1 UAE

12.5.1.2 Egypt

12.5.1.3 Saudi Arabia

12.5.1.4 Qatar

12.5.1.5 Rest of the Middle East

11.5.2 Africa

12.5.2.1 Nigeria

12.5.2.2 South Africa

12.5.2.3 Rest of Africa

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Colombia

12.6.4 Rest of Latin America

 

13. Company Profiles

13.1 Digi International

13.1.1 Company Overview

13.1.2 Financial

13.1.3 Products/ Services Offered

13.1.4 SWOT Analysis

13.1.5 The SNS View

13.2 Renesas Electronics Corporation

13.2.1 Company Overview

13.2.2 Financial

13.2.3 Products/ Services Offered

13.2.4 SWOT Analysis

13.2.5 The SNS View

13.3 GreenPeak Technologies

13.3.1 Company Overview

13.3.2 Financial

13.3.3 Products/ Services Offered

13.3.4 SWOT Analysis

13.3.5 The SNS View

13.4 STMicroelectronics

13.4.1 Company Overview

13.4.2 Financial

13.4.3 Products/ Services Offered

13.4.4 SWOT Analysis

13.4.5 The SNS View

13.5 Qualcomm Incorporated

13.5.1 Company Overview

13.5.2 Financial

13.5.3 Products/ Services Offered

13.5.4 SWOT Analysis

13.5.5 The SNS View

13.6 Texas Instruments Inc

13.6.1 Company Overview

13.6.2 Financial

13.6.3 Products/ Services Offered

13.6.4 SWOT Analysis

13.6.5 The SNS View

13.7 Microchip Technology

13.7.1 Company Overview

13.7.2 Financial

13.7.3 Products/ Services Offered

13.7.4 SWOT Analysis

13.7.5 The SNS View

13.8 DIgi-Key

13.8.1 Company Overview

13.8.2 Financial

13.8.3 Products/ Services Offered

13.8.4 SWOT Analysis

13.8.5 The SNS View

13.9 NXP Semiconductors N.V

13.9.1 Company Overview

13.9.2 Financial

13.9.3 Products/ Services Offered

13.9.4 SWOT Analysis

13.9.5 The SNS View

13.10 THIRDREALITY

13.10.1 Company Overview

13.10.2 Financial

13.10.3 Products/ Services Offered

13.10.4 SWOT Analysis

13.10.5 The SNS View

14. Competitive Landscape

14.1 Competitive Benchmarking

14.2 Market Share Analysis

14.3 Recent Developments

            14.3.1 Industry News

            14.3.2 Company News

            14.3.3 Mergers & Acquisitions

 

15. Use Case and Best Practices

 

16. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.

Start a Conversation

Hi! Click one of our member below to chat on Phone