Research and Markets - Global ZigBee Home Automation Market Drivers, Trends & Challenges 2016-2020 - Development of ZigBee Standards to Support IoT / High Initial Cost of Smart Products / Emergence of Internet-Connected Lightbulbs

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Sep 22, 2016, 02:10 ET

DUBLIN, September 22, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Global ZigBee Home Automation Market 2016-2020" report to their offering.

The global ZigBee home automation market to grow at a CAGR of 26% during the period 2016-2020.

The report covers the present scenario and the growth prospects of the global ZigBee home automation market for 2016-2020. To calculate the market size, the report considers the number of unit shipments of ZigBee-enabled home automation devices like connected bulbs, smart lighting systems, on/off switches, dimmable lights, color dimmable lights, dimmer switches, color dimmer switches, light sensors, heating/cooling units, smart thermostats, door locks, door lock controllers, home gateway/energy management systems, intruder alarm system (IAS) control and indicating equipment, STBs, smart remotes, occupancy sensors to end-users, including residential customers and commercial customers that are focused on reducing energy consumption.

Growing inclination toward smart homes will be a key trend for market growth. The smart homes market is expected witness huge growth by 2020, with the rise in the number of smart home connected devices. Many homes in developed nations are being renovated into smart homes, wherein consumer electronic devices, media, and entertainment gadgets and other smart electronics are connected to the home network and can interact with each other. In 2015, there were 111.5 million connected households worldwide, with North America having the highest penetration rate of 23%. Europe is the second fastest growing region in terms of the number of smart homes. APAC is still in its nascent stage. The market in APAC is expected to improve after 2018.

According to the report, growing number of members in ZigBee Alliance will be a key driver for market growth. The rapidly emerging IoT market worldwide is encouraging various industries to join ZigBee Alliance. The alliance provides global wireless standards. It aids member companies in developing products that are compatible with ZigBee-certified products. As of 2015, the alliance comprises more than 400 members, working together to develop simple and easy-to-use ZigBee standards and products that define the IoT for use in consumer, commercial, and industrial applications. This number is expected to rise further with the growing popularity of ZigBee wireless technology over other OEM technologies.

Key vendors