Zigbee Market to reach USD 7.15 Bn. by 2029 Market Size, Share, Industry Analysis, and forecast to 2029

December 14 19:15 2022
Zigbee Market to reach USD 7.15 Bn. by 2029 Market Size, Share, Industry Analysis, and forecast to 2029
Zigbee Market
Zigbee Market was valued at USD 3.52 Billion in 2021, and it is expected to reach USD 7.15 Billion by 2029, exhibiting a CAGR of 9.26% during the forecast period (2022-2029)

Pune, 14, Dec2022: The Zigbee Market report published by Maximize market Research, the market is expected to grow from USD 3.52 billion in 2021 to USD 7.15 billion in 2029, at a CAGR of 9.26 percent for the forecast period from 2022 to 2029.

Zigbee Market Scope and Research Methodology

The past and current status of the industry with the future forecast market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. The reports also help in understanding the Zigbee Market dynamic, structure by analysing the market segments and projecting the Zigbee Market size. Clear representation of competitive analysis of key players by segment type and regional presence in the Zigbee Market makes the report a guide for stakeholders and investors.

Major companies in the industry are discovered through secondary research and their market revenues evaluated by primary and secondary research. While primary research involved in-depth interviews with key opinion leaders and industry professionals including seasoned front-line personnel, CEOs, and marketing executives, secondary research included reading through the annual and financial reports of the leading manufacturers. The secondary research method were used to calculate the percentage splits, market shares, growth rate, and breakdowns of the worldwide markets, which are then confirmed using the primary research. PESTLE was conducted to understand the potential impact of the micro-economic factors affecting the Zigbee Market. Thus the report provides a detailed overview of the Zigbee Market.

Zigbee Market Overview

Zigbee is a wireless technology that was developed as an open global market connection standard to meet the specific needs of low-cost, low-power wireless IoT data networks. Zigbee is utilised for short-range, moderate-data transmission. The use of smart devices has grown the electronics industry, which is one of the key forces driving the Zigbee Market. There is a Growing need for low-cost, low-power wireless networks with widespread Zigbee deployment. Zigbee’s versatility in control and monitoring applications across smart energy and building automation systems, as well as its ability to run for many years on inexpensive batteries, are also contributing to the market’s expansion.

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Zigbee Market Dynamics

In response to the fast expansion of Internet of Things networks (IoT), a new form of wireless standard known as Zigbee has emerged to satisfy the requirement for low power consumption, low cost, and simple deployment among wireless communication devices. As the Zigbee system is now set up, all transmitters share a spreading code, which might result in multiple message collisions. A promising new system utilising several spreading codes has previously been developed in order to increase system throughput, reduce collisions, and increase energy efficiency or range. It has only been tested using a single hop topology and consistent message lengths for now. This growth in IoT technology is expected to drive the Zigbee Market.

Solution providers have a wide range of options for assembling and customising their IoT solutions because there are currently more than 3500 Zigbee-certified devices in use. Zigbee-based gadgets can interact with one another no matter where they were built. This enables solution providers to mix several Zigbee devices from different manufacturers into one solution, fully satisfying customer needs and advancing current solutions. The high level of compatibility among buyers is expected to drive the Zigbee Market.

Zigbee Market Regional Insights

North America controlled the market and generated the largest revenue share in 2021. North America has the fastest rate of industrial transition and the strongest demand for smart homes. The region is home to a substantial number of companies that concentrate on providing customers with Zigbee products and services. Consumers are keen to outfit their homes with connected cameras, video doorbells, connected light bulbs, smart locks, and smart speakers, and about 30 million American households are expected to do so. These products use Zigbee as its communication protocol. As voice-activated smart speakers gain popularity throughout the forecast period, the utilisation of Zigbee communication technology is expected to rise.

Zigbee Market Segmentation

By Standard: 

  • ZigBee RF4CE
  • Zigbee PRO
  • Zigbee IP
  • Zigbee Remote Control 2.0
  • Zigbee 3.0

By Device Type: 

  • Zigbee Home Automation
  • Zigbee Light Link
  • Zigbee Smart Energy
  • Others

By Applications:

  • Home Automation
  • Industrial Automation
  • Telecommunication services
  • Healthcare
  • Retail Services
  • Others

Zigbee Market Key Competitors: 

  • Texas Instruments Incorporated
  • NXP Semiconductors NV
  • Microchip Technology Inc.
  • Silicon Laboratories Inc
  • Digi International Inc.
  • Sena Technologies Inc.
  • Nordic Semiconductor ASA
  • Qualcomm Technologies Inc.
  • Semiconductor Components Industries LLC (ON Semiconductor)

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Key questions answered in the Zigbee Market are: 

  • What is Zigbee? 
  • What is the growth rate of Zigbee Market for the forecast period? 
  • What is the nature of competition in Zigbee industry in developed and developing economies? 
  • Who are the key players in the Zigbee Market?
  • Who are the market leaders in Zigbee industry in Europe
  • Who are the market leaders in Zigbee industry in USA and Canada
  • Who are the market leaders in Zigbee Market in India, China, Japan and South Korea?
  • What are the factors affecting growth in the Zigbee Market? 
  • Who held the largest market share in Zigbee Market? 
  • What are the factors for the growth of Asia-Pacific region in Zigbee Market?

Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by Standard, Device Type, Applications and Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Wi-Fi as a Service Market –The Wi-Fi as a Service Market size is expected to reach USD 35.97 billion by 2029 at a CAGR of 16.5 percent during the forecast period. The Wi-Fi as a Service Market is expected to be driven by increased penetration of smartphones and improved connections and the number of internet users continuously growing.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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