IoT in Consumer Electronics Market 2020 Global Trends, Sales Revenue, Covid-19 Impact Analysis, Future Opportunities, Industry Outlook and Regional Forecast 2023
Research Reports
Dec 29, 2020
Market Research Future published a research report on “IoT in Consumer Electronics Market Research Report- Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Synopsis
The world consumer IoT market size is expected to rise to USD 124 Billion by 2023, states Market Research Future (MRFR). The consumer IoT industry is booming. As per MRFR analysis, the global IoT in consumer electronics market can expand at 24.16% CAGR across the forecast period (2017 to 2023). The consumer IoT industry 2020 can generate considerable revenue across the review period. The rise in applied Internet of Things technology is reshaping all industries and are observed to build robust infrastructure for organizations. The rise in the networking of physical objects with assistance of actuators and sensors can bolster the expansion of the consumer IoT market. The high utility of consumer IoT market in the transmitting of data can spur the market growth.
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The rise in the adoption of consumer IoT in the personal healthcare sector and other sectors to procure real-time data of consumers can spur the expansion of the market. Fitness tacking bands and blood pressure recording bands are powered by IoT, which connect users to that healthcare systems that aid to monitor and track user’s data. The wearable segment of the consumer electronics can drive the rise of the market.
Key Players
The Iot In Consumer Electronics Market reflects a potential future owing to the existence of several powerful players having worldwide presence. Mergers & acquisitions, brand reinforcement, and innovation remain the prominent trends for the key players. The competition is mainly driven by the reputation, services, and pricing parameters. As the demand for IoT based smart-home gadgets increases, the scope for new players to enter the market reaches new heights. This opportunity opens up considerable revenue potential for the manufacturers.
At present, the global IoT In Consumer Electronics Market has been dominated by players such as Intel (US), IBM (US), Particle.io (US), Gainspan (US), Qualcomm Technologies (US), Apple Inc. (US), Silicon Laboratories (US), Libelium Comunicaciones (Spain), Lantronix, Inc. (US), ARM Holdings Plc., (UK), Texas Instruments (US), Symantec (US), PTC (US), Hewlett Packard Enterprise (US), Amazon Web Services (US), STMicroelectronics (Switzerland), Ayla Networks (US), Cisco Systems (US), Losant IoT (US), Pepper (US), and Notion (US).
IoT in Consumer Electronics Market – Segments
The world IoT in consumer electronics market study is based on product, connectivity, and deployment. The product based segments of the IoT in consumer electronics market segment are smartphones, smart TV, kitchen appliances, wearable devices, printers, laptops, dishwashers, washing machine, and others. The smart home segment is expected to gain substantial traction. The deployment-based segments of the IoT in consumer electronics market are on-premise and on-cloud. The rise in adoption of on cloud solution can shore up the IoT in consumer electronics market growth in the near future. The connectivity based segments of the IoT in consumer electronics market are Wi-Fi, NFC, Bluetooth, zigbee, Zwave, and others. The rise in inclination towards Wi-Fi, Bluetooth, and NFC can push the IoT in consumer electronics market in the near future.
IoT in Consumer Electronics Market – Regional Analysis
North America is the prime revenue generating area in the world consumer IoT market. The high demand for smart gadgets from wearable, consumer electronics, and home automation applications can led to the expansion of the regional consumer IoT market. Furthermore, the rise of the market in North America can be driven by the increase in fitness conscious population, as rise in cases of chronic diseases and diabetes patients are causing the rise of medical devices requirements. The smart connected devices adoption rate is rising, and high penetration of rapid digitalization by consumer at different end can prompt the rise of the market. These rise in applications can fuel the expansion of North America IoT in consumer electronics market. Asia Pacific IoT in consumer electronics market is predicted to exhibit a steep growth across the assessment period. Developments in modern technology, especially related to IoT, hefty investments in solutions, such as home automation, and rise in consumer base of smartphones and wearable can drive the market in the APAC region.
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Intended Audience
- Distributors and retailers
- Research organizations
- Technology standard organizations, forums, alliances, and associations
- Technology investors
- Operating system (OS) vendors
- Content providers
- Software providers
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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