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

Zigbee Home Automation MarketSize and Trends

The increasing adoption of home automation for smart home applications is one of the primary factors which is expected to drive growth of the global ZigBee home automation marke. ZigBee home automation is used in various smart home applications, which include entertainment, security and surveillance systems, smart energy/smart grid, AMR (Automatic Meter Reading), lighting controls, building automation system, HVAC (Heating, Ventilation and Air Conditioning) control, and others. The growing adoption of ZigBee home automation for safety and security purpose is one of the factors fueling growth of the global zibee home automation market. There are some market players, which offer safety and security solutions. For instance, HDL Automation company, which provides wired and wireless whole home automation products, offers ZigBee/Buspro Converter that supports ZigBee door lock device. Furthermore, adoption of smart homes in North America and Europe is expected to fuel growth of global ZigBee home automation market. Moreover, the increasing disposable incomes in Asia Pacific region are rising the standard of living of people and this is expected to drive the demand for smart homes. For instance, according to the India Brand Equity Foundation (IBEF), the per-capita net national income during 2019-20 was estimated to be US$ 1,839.92 Mn (Rs. 1,35,050), exhibiting a rise of 6.8 % compared to US$ 1,722.16 Mn (Rs. 1,26,406) during 2018-19 with the growth rate of 10.0 %.

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%.

Figure 2: Global ZigBee Home Automation Market Value (US$ Mn) Analysis and Forecast and Y-o-Y Growth (%), 2017 - 2028

The global zigbee home automation market was valued at US$ 1,298.7 Mn in 2020 and is expected to reach US$ 3,846.4 Mn by 2028 at a CAGR of 15.2% between 2021 and 2028.