ZigBee Market Growth Opportunities and Future Scope, 2022-2029

Allied Market Research published a new report, titled, "ZigBee Market Growth Opportunities and Future Scope, 2022-2029." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Surge in demand for smart homes with ZigBee enabled devices across the globe is the major factor that drives market growth. In addition, increase in adoption of ZigBee products and services across different industry verticals is expected to supplement the ZigBee Market growth. However, low data transfer speed and short-range network hamper the market growth. Furthermore, increase in adoption of internet of things (IoT) and mobile-based app across the globe is expected to provide lucrative opportunity for the global ZigBee Market.

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ZigBee technology integrated products make homes smarter, safer, comfortable, and energy efficient. Many large operators, utilities, and service providers are launching smart home applications such as appliances that can be monitored and controlled remotely from anywhere via smartphones or tablets. With the increase in demand for smart homes across the globe, demand for ZigBee technology is also expected to increase.

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North America is expected to have the largest market share during the forecast period, owing to advancements in technologies and large number of ZigBee product and service providers. In addition, Asia-Pacific is also expected to witness a significant growth, owing to emerging economies such as India, China, and Japan and rise in demand for wireless technology devices that consume less power.

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COVID-19 Scenario Analysis:

• Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 180+ countries around the globe with the WHO declaring it a public health emergency. The global impacts of the disease are already starting to be felt, and expected to significantly affect the ZigBee market in 2020.

• Though governments have imposed lockdown to contain spread of the virus, all businesses are closed and most companies have initiated work from home for employees, which creates rise in demand for ZigBee technology.

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