The global wireless mesh networking devices market to grow at a CAGR of 8.95% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global wireless mesh networking devices market for 2017-2021. To calculate the market size, the report considers the sales of mesh network-based devices (including ZigBee, Z-Wave, and Thread technologies) worldwide and exclude Wi-Fi-based and Bluetooth-based devices.
The latest trend gaining momentum in the market is Growing demand for smart homes. The smart home concept is gaining popularity significantly among consumers as it helps enhance domestic convenience via electronic devices. This is an evolutionary development in the residential real-estate sector that is focusing on making lives more comfortable, convenient, entertaining, secure, and sustainable. The smart home technologies, which use advanced sensors, are cost-effective and can be used by any average household to connect appliances such as air conditioning units, computers, camera systems, entertainment systems, heating modules, lighting systems, television sets, and security devices. The home owner can monitor and control these devices using their smartphones and tablets.
According to the report, one of the major drivers for this market is Rising power prices. The global demand for electricity has been growing continuously as a result of widespread industrialization, surging populations, rising numbers of the middle class, and growing energy consumption worldwide. The prices of raw materials used by power generation and distribution companies have risen sharply, forcing power producers to increase electricity prices in a bid to maintain operations and secure profits. Electricity charges account for a huge part of consumers' monthly utility bills, and so homeowners need to minimize energy consumption to reduce costs. Smart connected devices assist users to remotely monitor appliances to help conserve energy.
Further, the report states that one of the major factors hindering the growth of this market is Threat from competing technologies. There is a constant threat from alternative technologies such as 6LoWPAN, open source IPv6 automation network (OSIAN), Bluetooth, Wi-Fi, DASH7, and near-field communication (NFC). ZigBee operates on 802.15.4 radios, which receive IP packets that are enabled by 6LoWPAN.
Bluetooth technology that includes Bluetooth spinoff Bluetooth low energy (BLE) or Bluetooth Smart has significant adoption in home control applications. Bluetooth Smart-enabled remote controls have become imperative for TVs, which are transforming from classic Bluetooth to Bluetooth Smart Ready. BLE consumes relatively much less energy than full-blown Bluetooth, which makes BLE an effective and energy-efficient alternative for battery-operated devices such as smart watches and proximity sensors.