Press release
ZigBee Market : Innovation and Product Optimization to Boost Growth
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 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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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 lockdowns 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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Zigbee is a technology that develops communication between machinery or humans and transfer data over a wireless network. Furthermore, owing to its low cost and low power consumption, ZigBee technology is best suited for embedded application, alarm systems, industrial control, and home automation. Moreover, increase in demand for smart cities and smart homes across the globe drives the demand for smart consumer electronics and connected device using ZigBee technology, which further propels the ZigBee market growth.
Key benefits of the report:
► This study presents analytical depiction of the global ZigBee market along with the current trends and future estimations to determine the imminent investment pockets.
► The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the ZigBee market share.
► The current market is quantitatively analyzed to highlight the global ZigBee market growth scenario.
► Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
► The report provides a detailed ZigBee market analysis based on the present and future competitive intensity of the market.
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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.
Key Market Players:
► GreenPeak Technologies
► Texas Instruments Inc
► Telegesis Ltd
► NXP Semiconductors N.V
► Nivis
► Microchip Technology
► California Eastern Laboratories
► Sena Technologies,.Inc
► Digi International
► Renesas STMicroelectronics
► Silicon Laboratories
► Dresden Elektronik
► Electronics Corporation
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