On a global scale, the need for low-power and low-cost wireless IoT data networks has been rising. Such networks can run for longer periods of time on inexpensive batteries, enabling users to power smart devices smoothly and efficiently. ZigBee is a wireless technology that was developed as an open global market connectivity standard to suitably meet the increasing demand for low-cost and low-power wireless networks. This technology is extensively used in smart energy and building automation systems for a wide range of control and monitoring applications.
In the coming years, fast-paced developments in smart housing infrastructure and smart city projects are expected to bode well for the ZigBee market. Moreover, in the field of IoT, organizations and businesses have started to recognize the economic potential of ZigBee technology. This is predicted to open new revenue outcomes in the ZigBee market as ZigBee-compatible devices enter the market.
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Automated Lighting Solutions, Home Automation Systems to Augment Demand in ZigBee Market
ZigBee technology’s use is particularly useful in smart homes and automated lighting systems. Over the recent past, automated lighting solutions are being increasingly used across personal and professional settings. With the help of ZigBee lighting, static buildings can be readily transformed into automated spaces that are more economical, and energy efficient. Consequently, the global ZigBee market is poised to witness intense expansion amid the rise in applications of smart lighting solutions. On a similar note, home automation systems and solutions are being extensively used, especially in urban settings of the world. Putting sustainability into practice, ZigBee technology is enabling end-users to make their homes smarter and more secure. In this context, the ZigBee market is anticipated to scale the maturity curve as customers continue to seek novel technologies to support their smart home ecosystem.
Robust Innovation in IoT Technologies to Unlock New Business Opportunities for Participants in ZigBee Market
Swift developments in the domain of Internet of Things have culminated in the creation of the ZigBee technology. This technology enables users to run their smart devices for a longer time on inexpensive batteries. This energy-efficient and economical nature of ZigBee technology has magnified its demand among consumers. In addition to this, businesses and governments across the world are continually looking for high-tech solutions that support their vision of sustainable development. ZigBee technology perfectly fits into the vision of sustainable living which is positively influencing its demand. During the forecast period, key IoT vendors are set to produce devices that will be compatible with ZigBee technology, thus creating sound opportunities for the expansion of the ZigBee market.
North America to Emerge as a Leading ZigBee Market
North America is poised to emerge as the leading ZigBee Market as smart home and office solutions as well as automated lighting systems are becoming increasingly popular in this region. The region is also the hub of novel innovations and advancements in the field of IoT which is working in favour of its ZigBee market. Notably, in North America, the use of ZigBee technology is set to rise with an increase in the usage of voice-activated smart speakers and smart home equipment.
Major Market Players
Some of the prominent players in the global ZigBee market include Qualcomm Incorporated, NEXCOM International Co. Ltd., STMicroelectronics N.V., Microchip Technology., and Intel Corporation among others.
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