New York, US, Nov. 17, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Global Zigbee Market Research Report – By Application, Standard, and Region– Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 7.91 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 8.60% during the assessment timeframe.
Zigbee Market Overview:
Zigbee refers to a wireless technology founded as an open across-the-globe market connectivity standard to deal with the unique desires of low-power, low-cost wireless IoT data networks. The 868 MHz, 900 MHz, and 2.4 GHz unlicensed radio bands are utilized by the IEEE 802.15.4 physical board radio design for the Zigbee communication standard. Generally, Zigbee is utilized to transmit a slight amount of data over a short distance. The global market for Zigbee has expanded massively in the last few years. The implementation of smart gadgets has raised the electronics sector, which is considered one of the primary parameters supporting the market's growth. Furthermore, there is an increasing need for wireless networks with a wide-scale ZigBee implementation, which are low and need less power. In addition, ZigBee's ability to run for more than many years on cheap batteries for a wide range of monitoring and controlling applications across smart energy and building automation systems is anticipated to catalyze the market's growth over the coming years.
Currently, a massive share of businesses is getting remote, and the trade of information while utilizing this small organization discovery can be considered ZigBee. One of the unique elements of the ZigBee market is that it utilizes lesser levels and is more prime in the care, just like the multi-control structures. Furthermore, lighting control, apart from the other modern applications, can well utilize ZigBee Technology. The development covers 50-100 meters and is considered one of the most encouraging frameworks for communication. This is pretty better than Bluetooth or WiFi; to the size of the remote sensors, foundations of the short ranges are considered.
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Competitive Analysis
The list of prominent participants across the global Zigbee Market includes companies such as:
- Digi International (U.S.)
- STMicroelectronics (Switzerland)
- NXP Semiconductors N.V. (the Netherlands)
- Texas Instruments Inc. (U.S.)
- Renesas Electronics Corporation (Japan)
- GreenPeak Technologies (the Netherlands)
- Microchip Technology (U.S.)
- Silicon Laboratories (U.S.)
Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 7.91 Billion |
| Growth Rate | CAGR of 8.60% from 2020 to 2030 |
| Base Year | 2019 |
| Study Period | 2020-2030 |
| Key Market Opportunities | The Target Audience is developing an inclination towards the ZigBee Market. |
| Key Market Drivers | The market is witnessing a sharp rise in the demand for low levels of energy consumption in the form of lighting solutions. |
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Market USP Covered
Market Drivers
The global ZigBee market has expanded rapidly in recent times, given the aspects such as demand for low energy consumption levels, growing IoT technology, and accelerating the needs of Smart Homes.
COVID-19 Impact
The speedy spread of COVID-19 across the majority of the world led to causing considerable losses to a variety of industry sectors across the globe. Governments worldwide implemented partial or complete lockdowns in order to restrict the spread of the disease. Like all the market areas, the Zigbee market also faced several unexpected challenges during the pandemic. On the other hand, with all the activities across the globe getting back to normal, the global market for Zigbee is predicted to grow substantially over the review era.
Zigbee Market Segment Analysis
Among all the device types, the smart energy segment is predicted to secure the top position across the global Zigbee Market over the coming years. The characteristics of ZigBee Smart Energy involve its capability to randomize start and end timings to restrict energy spikes, various control mechanisms, and help real-time trace information regarding energy consumption. With the capability to trace energy usage, end users and utilities can manage it, lowering its adverse effects on the environment and saving money. Organizations across the global market are investing heavily in ZigBee lighting systems and integrating them into unique traffic lights.
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Among all the applications, the home automation segment is predicted to secure the top position across the global market for Zigbee over the review timeframe.
Zigbee Market Regional Analysis
The global Zigbee Market is analyzed across five major regions: North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa.
According to the analysis reports by MRFR, the North American region is predicted to hold the leading position across the global Zigbee Market over the coming years. the region is known to have the highest population switching to industrial automation, which is considered being the primary parameter causing an upsurge in the regional market's growth. Furthermore, the growing demand for smart homes is another prime parameter boosting the regional market's growth. Moreover, the region is known to have the maximum concentration of organizations that are addressing the requirement of ZigBee products and solutions to the users. The lowering supports the growing adoption of more innovative homes in energy consumption levels, which will also likely catalyze the regional market's growth over the coming years.
The Zigbee market for the European region is predicted to exhibit substantial growth over the coming years. the growing implementation of in-car devices using the ZigBee services for connectivity is considered the primary aspect is supporting the growth of the regional market. Furthermore, the population is exceedingly demanding smart homes are anticipated to boost the growth of the regional market over eth review era.
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The Asia-Pacific regional market for Zigbee is anticipated to show the highest growth rate over the coming years. the growing adoption of smart services is the main reason for supporting the growth of the regional market. Furthermore, the rising number of customer electronics companies is predicted to catalyze the regional market over the coming years.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
