Published On : 06 Sep 2018
Rising demand for smart homes that provide high efficiency mainly in terms of daily tasks and actions is primarily driving the global ZigBee home automation market. With an increasing dependency on smart devices such as smartphones, laptops, communication systems, and other technologies, the demand for home automation is expected to highly expand during the forthcoming years.
ZigBee enabled devices have a long operating life and consume substantially less power. They also are highly user-friendly and provide excellent value-for-money returns, when considered from a long term perspective. Such benefits are warranted to make the global ZigBee home automation market experience exponential growth rate during the said forecast period owing to increasing demand in home automation. Rapid growth in the Internet-of-Things industry too is expected to provide a major impetus to the global ZigBee home automation market.
However, it might be expensive for those having less disposable income to buy costly ZigBee devices and relevant solutions, thereby plaguing the global ZigBee home automation market. Potential customers could therefore shy away from quality solutions and instead opt for cheaper alternatives. This has a significant detrimental effect on the market, which is especially observed in developing and underdeveloped economies, where the rate of disposable income may not be high.
Moreover, short range network and low data transfer speed are major limiting factors affecting the progress of the global ZigBee home automation market. In addition, high replacement cost of ZigBee enabled appliances is also expected to deter the demand of relevant devices during the upcoming years. However, increasing penetration of smart devices in almost all parts of the globe followed by extensive efforts undertaken by the ZigBee providers to introduce cost-effective devices is expected to offset these hindrances soon.
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The global market of ZigBee enabled devices is highly competitive and fragmented in nature with the presence of large number of market players. Most of the companies are imparting heavy focus on providing high quality products to their customers. This strategy aims at improving customer retention and expanding revenue generation. With new players being projected to enter the market in the near future, the competition is expected to get tougher. Many companies are undertaking extensive research and development to enhance their ZigBee home automation devices. Telegesis, Maven, Philips, Atmel, Dig, Silicon Laboratories, HDI Dune, Renesas, Global Cache, STMicroelectronics, BuLogics, GreenPeak, and NXP Semiconductors, are key players operating in the global ZigBee home automation market.
From a geographical perspective, the global ZigBee home automation market is spread across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Of all these regions, a high adoption rate of home automation in North America has made this region hold a leading stance in this market. Apart from North America, even Asia Pacific is expected to depict large-scale growth in the global ZigBee home automation market.
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