Global Zigbee Market synopsis
The global
Zigbee Market 2020 , according to MRFR , is expected to witness substantial market value of USD 3.4 billion by 2023 , at a moderate 8 % CAGR over the review period .
Data transmission technology within a wireless network is referred to as Zigbee . Considering that Zigbee has low energy consumption , it is widely adopted in various applications such as multi-channel control systems , alarm systems , lighting control , and other industrial applications . Increasing inclination toward smart home around the globe is the primary factor forecast to fuel ZigBee activated devices demand in the coming years . The anticipated swift growth of the smart home market in various parts of the world is predicted to cause demand for intelligent consumer electronic devices and gadgets that remain linked to the traditional home network . Hence , the Zigbee market is guided by the rising tendency towards energy saving .
Zigbee is more cost effective than other systems such as Bluetooth and Wi-Fi . Tendencies toward smart homes are rising Zigbee demand . Across numerous regions the smart home market is growing rapidly , which in turn drives demand for smart consumer electronics and connected devices using Zigbee . In addition , growing numbers of ZigBee alliances are also expected to increase the demand for ZigBee during the forecast period . Globally , the rapidly growing IoT ( Internet of Thing ) market is encouraging different industries to join the ZigBee alliance which provides global wireless standards . This partnership assists member companies in manufacturing different products with ZigBee accredited consumer compatibility . The number of alliances is expected to increase with other technologies in the coming years with the growing popularity of the ZigBee technology . However , one of the major factors restricting many smart home customers to embrace Zigbee activated devices at their home is the short range network and low data transfer speed . In addition , high replacement costs of ZigBee activated devices are also expected in the coming years to discourage the market of ZigBee enabled devices .
Market Segmentation
On the basis of standards , the market is segmented into ZigBee IP , ZigBee , ZigBee PRO , ZigBee RF4CE , ZigBee remote control 2.0 and ZigBee 3.0 .
On the basis of application , the market is segmented into home automation , telecommunication services , industrial automation , healthcare , retail services and smart energy which is segmented into smart grid and smart metering and others .
Regional Outlook
It is projected that the global Zigbee market will expand at a promising pace over the forecast period . Zigbee business geographic research covers North America , Europe ( including Russia ), Asia Pacific ( including Australia and New Zealand ), and the rest of the world ( including the Middle East , Africa , and South America ).
North America dominates the market among all regions , as this region has maximum industrial automation and higher smart homes adoption . North America also has a higher concentration