REPORT SCOPE & OVERVIEW:
The Zigbee market size in 2023 is set to reach USD 7.91 billion, and by 2031. it's expected to have reached USD 13.60 billion with a compound annual growth rate of 7.0 % over the forecast period until 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.
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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.
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.
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
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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.
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
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
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 7.91 Billion |
| Market Size by 2031 | US$ 13.60 Billion |
| CAGR | CAGR of 7 % 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 |
The ZigBee Market size was valued at 7.91 billion in 2023 at a CAGR of 7%.
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
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