ZIGBEE HOME AUTOMATION MARKET ANALYSIS

ZigBee Home Automation Market, By Component (Single-chip Solutions, Transceivers, Modules, Microcontrollers and Others), by Product Type (Full Function Devices (FFDs) and Low Cost Reduced Function Endpoint Devices (RFDs)), By Application (Entertainment, (Virtual Personal Assistant, Speakers/Audio Distribution, Others), Security & Surveillance Systems (Alarms, Door Locks, Door/Window Sensor, Security Cameras Others), Lighting( Smart Bulbs, Smart Switches, Others) HVAC Controls, Energy Monitoring (Smart Meter, Others) and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

Published In : Jun 2021
Code : CMI4455
Pages :200
Formats :
Excel and PDF
Industry : Smart Technologies

Market Challenges And Opportunities

Although home automation system makes operations of various home appliances convenient, the cost of full set up of the same is high. For instance, home automation systems consist of heating, ventilation, and air conditioning systems, smart water meter, centralized lighting systems, advanced kitchen appliances, entertainment devices such as audio video systems, and security & surveillance systems, which include door locks, alarms, smoke sensors, intrusion detection sensor, security cameras, and door & window sensors. Therefore, requirement of high initial investment for home automation is hampering the growth of the global ZigBee home automation market.

High Initial Investment

Global ZigBee Home Automation Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 has significantly disrupted almost all the industries including automotive, medical & healthcare, consumer electronics, clothing & textile, food & beverage, automation, manufacturing, aerospace & defense, oil & gas, construction, semiconductor, agriculture, and others. The global ZigBee home automation market was affected, as many key players in the market had to temporarily closedown in order to safeguard health of their employees. Furthermore, on the supply chain side, unavailability of raw materials for manufacturing of components due to complete lockdown is a major restraint for the growth of the market. Due to delay in supply of raw materials and components, the manufacturing companies were unable to deliver the products in the market. Therefore, global ZigBee home automation market is affected by the pandemic. As governments are opening up in phases in many countries, production is resuming, however, companies are still working with partial employees on the shop floor and remaining from home. Several ZigBee home automation companies witnessed decrease in sales of their products as the supply chain was disrupted by lockdown orders. The revenue of many market players such as Honeywell International, Inc., NXP Semiconductors, Renesas Electronics Corporation, and others decreased in 2020 as compared to 2019. For instance, in the period 2019 to 2020, revenue of Honeywell International, Inc. decreased by about 11.1%.