IoT in Consumer Electronics Market 2018 Global Leaders Analysis: Amazon Web Services, Silicon Laboratories, ARM Holdings, Symantec, Texas Instruments, Qualcomm Technologies, Silicon Laboratories, Lantronix

Market Research Future published a research report on “IoT in Consumer Electronics Market Research Report- Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Scenario

Internet of Things is changing user lives, with its widespread of applications in day to day activities. Consumer IoT refers to Internet of Things with respect to consumer applications and devices. Consumer electronics are considered as a key area in the Internet of Things which is gaining momentum every day.

For consumer electronics manufacturers, IoT is enabling new revenue opportunities by providing new products to the customers which helps in cross functioning with other devices. Home appliances connected to the internet are capable of reducing workload for humans. The data regarding daily usage of applications can be recorded and stored on data server and can run analysis on the internet which can detect patterns and can schedule run on their own.

The rise of cloud computing, increase in usage of smartphones and tablets for controlling IoT devices and developments in IoT security are the key factors driving the market for global IoT in consumer electronics.

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On the basis of connectivity the segment is further classified into NFC, Bluetooth, Wi-Fi, Zwave, ZigBee and others. Wi-Fi is used to replace existing Ethernet-based communication in order to provide easy access and provide short-range wireless connectivity. By connecting the devices such as kitchen appliances, refrigerator and other devices to the common group over Wi-Fi, monitoring and operating the connected devices can be made easy. It helps in reducing the spectrum connectivity cost and is easy to deploy. IBM Corporation, an American Multinational Technology company is offering open source IoT platform known as Kaa. Kaa is a middleware platform capable of managing, collecting and analyzing every aspect of connected devices. Kaa is compatible with smart TVs, smart home appliances, wearable and other computer chips and allows cross-device collaboration, remote monitoring and many other added features.

The global Iot In Consumer Electronics Market is estimated to grow up to USD 124 Billion at CAGR 24.16% through the forecast period 2017 to 2023

Industry/ Innovation/ Related News

July 19, 2018 – Samsung, the electronics giant, launched IoT-based refrigerator in India. At CES 2018, held between January 09 -12, 2018 Samsung’s Consumer Electronics Division led by its R&D institute in India, had announced its plan to accelerate IoT adoption for everyone by 2019 and that the company is going to infuse AI into its virtual assistant Bixby for a harmonized IoT experience at home. This will further enable users to speak to their refrigerators, TVs, washing machines, ovens, dishwashers, and other electronic appliances.

Key Players:

Some of the key players in the global IoT in consumer electronics market are Intel Corporation (U.S.), IBM Corporation (U.S.), Gainspan (U.S.), Apple Inc. (U.S.) Particle.io (U.S.), Libelium Comunicaciones (Spain), Qualcomm Technologies (U.S.), Silicon Laboratories (U.S.), Lantronix, Inc. (U.S.), ARM Holdings Plc., (U.K), Symantec (U.S.), PTC (U.S.), Texas Instruments (U.S.), Hewlett Packard Enterprise (U.S.), STMicroelectronics (Switzerland), Cisco Systems (U.S.), Amazon Web Services (U.S.), Ayla Networks (U.S.), Losant IoT (U.S.), Notion (U.S.), Pepper (U.S.) among others.

IoT in Consumer Electronics Market – Segments

The MRFR analysis is segmented into four key dynamics.

• By Products: Smart TV, Smart Phones, Wearable Devices, Kitchen Appliances, and Printers among others.
• By Deployment: On-Cloud, and On-Premise.
• By Connectivity: NFC, Bluetooth, Wi-Fi, Zwave, and ZigBee
• By Regions: North America, Europe, APAC and Rest-of-the-World (RoW).

IoT in Consumer Electronics Market – Regional Analysis

North America is projected to be the leading market for consumer electronics, globally holding the largest market share owing to the presence of major electronics manufacturers. Attributing to the increasing demand for digital technologies and growing technological advancements in the region, the U.S. and Canada account for the major contributor to the market growth in the region.

Furthermore, the presence of a well-established infrastructure supports the market growth, allowing implementations of advanced technologies. North America is expected to grow further over its previous growth records by 2023, followed by Europe and the Asia Pacific.

Europe accounts for the second-largest market for consumer electronics, globally. The market is expected to grow at a considerable CAGR (2017-2023), perceiving a huge uptake of these items across the region.
Asia-Pacific is emerging as one of the lucrative markets for the consumer electronics which is expected to generate a substantial CAGR by 2023. Burgeoning electronics markets mainly in China and India are contributing to the market growth in the region majorly.

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Intended Audience

• Distributors and retailers
• Research organizations
• Technology standard organizations, forums, alliances, and associations
• Technology investors
• Operating system (OS) vendors
• Content providers
• Software providers

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