The ZigBee module market is projected to grow at a CAGR of 30.42% to reach US$29,448.811 million by 2026, from US$4,587.520 million in 2019.
Zigbee essentially is a wireless networking technology specially designed to meet the needs of device-to-device communication. As per IEEE 802.15.4, Zigbee widely functions in the unlicensed band. It is primarily used to carry small volumes of data over a large distance. With a motive to control everyday activities efficiently, consumers, businesses, and governments use different smart and effective ZigBee standards. Zigbee offers highly reliable wireless performance and battery operation.
zigbee module market, US$ million, 2019 to 2026
Source: Knowledge Sourcing Intelligence Analysis
A major reason for the growth of this market is the benefits associated with ZigBee.
The market for the Zigbee module is anticipated to increase at high rates in the forecasted period. This growth will be sponsored by the various benefits associated with the Zigbee module including, low power consumption, high security offered, and interoperability. The Zigbee module can be easily used anywhere around the world as an unlicensed brand and has a highly authentic and vigorous construction. These properties are anticipated to augment the demand for the Zigbee module in the global market.
The rise in the lighting and smart home market is expected to drive the demand for this market in the forecast period.
Zigbee is extensively used in a variety of markets including connected lighting and the smart home market. Zigbee is considered to be very ideal for the smart home. It helps in controlling and operating various appliances in a single touch, it specifies the security services and allows access to a list of connected devices and it also performs home automation tasks. Moreover, the Zigbee network relies upon low power requirements. This helps the users in achieving effectiveness and efficiency. These benefits will further propel market growth.
The growth in the demand for advanced metering infrastructure is anticipated to fuel the growth of this market.
A lot of opportunities for the growth of the Zigbee module market are anticipated to be lined up owing to the growing prevails of the internet of things. Many government agencies are significantly shifting towards advanced metering infrastructure. Zigbee offers self-constructing networks at low cost and high safety levels for the development of such infrastructure. This will further boost the demand for the Zigbee module in the forthcoming years.
The rising demand for consumer electronics is also projected to positively impact the sales of ZigBee Module
The demand for consumer Electronics is increasing significantly. People are actively adopting smart devices, especially in emerging and developing nations. Further, with the rapidly advancing lifestyle, people are increasingly investing in smart security systems and smart homes. This in turn is projected to fuel the market demand for the Zigbee module.
The share of different regions in the global ZigBee Module market.
The Zigbee module market is segmented, by type, as Zigbee coordinator, Zigbee router, and Zigbee End Device, By Application is segmented, like industrial automation, Home automation, smart metering, smart grid monitoring, and others, and by geography, it is segmented, like North America, South America, Europe, the Middle East, and Africa and the Asia Pacific region.
The North American region is anticipated to hold the largest share in the Zigbee module market. Moreover, the region is projected to grow at the fastest rate. The North American market is investing extensively in the Zigbee module to meet global as well as regional market demand. Zigbee utilizes 16 channels worldwide of 2.4 GHz band, 13 of them are located in North America and one in Europe. Moreover, the use of smart homes in North America is increasing. People of North America are increasingly adopting smartphones and smart devices into the routine. In addition, they are investing in devices such as video doorbells, smart locks, and connected bells, thereby driving the need for Zigbee in the forthcoming years
Smart Metering and Home Automation are expected to drive the ZigBee module Market.
Smart metering and home automation are highly benefited from the Zigbee module. They have a better range of transmission as well as wall penetration. Zigbee enables to cover the entire building using a wireless mechanism without using a costly power amplification circuit. It also enables a direct connection in the meter located in the basement and an in-home display.
The impact of the coronavirus pandemic on the global economy has been largely disruptive. It has taken a toll on both economic activities and human lives. The disruption caused by the pandemic on various industries is devastating. Strict restrictions on movement and lockdown have been imposed in various countries. This has caused a direct impact on demand as well as the supply chain. Talking about the Zigbee module, people are working from home and thus demanding smart homes and efficient technologies. With this, the market for the Zigbee module is anticipated to remain sluggish.
Key Market Players.
Some of the prominent players in the market include NXP Semiconductors, Texas Instruments, Silicon Laboratories, Panasonic, Honeywell, Digi International, STMicroelectronics, etc. These players are constantly working towards bringing technological advances to the market, thereby providing a competitive edge.
|Market size value in 2019||US$4,587.520 million|
|Market size value in 2026||US$29,448.811 million|
|Growth Rate||CAGR of 30.42% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Microchip Technology Inc. (Atmel), Digi International, NXP Semiconductors, Renesas Electronics, Silicon Laboratories, STMicroelectronics, Texas Instruments, Telink Semiconductor, Honeywell, Panasonic|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global ZigBee module market?
A1. ZigBee Module Market was valued at US$4,587.520 million in the year 2019.
Q2. What will be the ZigBee module market size by 2026?
A2. The ZigBee module market is projected to reach a market size of US$29,448.811 million by 2026.
Q3. What are the growth prospects for the ZigBee module market?
A3. The global ZigBee module market is projected to grow at a CAGR of 30.42% over the forecast period.
Q4. What factors are anticipated to drive the zigbee module market growth?
A4. A major reason for the growth of the ZigBee module market is the benefits associated with ZigBee.
Q5. Which region holds the maximum market share of the ZigBee module market?
A5. The North American region is anticipated to hold the largest share in the Zigbee module market.
Microchip Technology Inc. (Atmel)
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