zigbee and thread wireless sensor market REPORT OVERVIEW
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The global zigbee and thread wireless sensor market size was in USD 1428.8 million 2021 and will reach USD 4215.86 million by 2027, at CAGR of 19.76% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden decline in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
The zigbee and thread wireless sensor market share comprises a diverse array of products and technologies engineered to facilitate wireless communication and data interchange across various applications, with a primary focus on the Internet of Things (IoT) and home automation sector. The zigbee and thread wireless sensor stand out as wireless communication standards renowned for their dependable, energy-efficient networking capabilities, rendering them particularly well-matched for sensor-centric applications.
COVID-19 Impact: Increased Demand for Remote Monitoring among Population to Fuel Market Growth
The COVID-19 pandemic expedited the demand for remote monitoring and automation solutions, especially within healthcare and home automation industries. The zigbee and thread wireless sensors have been instrumental in facilitating remote monitoring for patients, the elderly, and smart homes, leading to a notable uptick in their demand. Similar to various sectors, the production of zigbee and thread wireless sensors encountered interruptions due to lockdowns, factory shutdowns, and logistical hurdles. Consequently, this resulted in product launch delays and limitations within the supply chain.
LATEST TRENDS
"5G Integration, and Edge Computing to Fuel Market Growth "
Integrating Zigbee and Thread wireless sensor technologies with 5G networks marked a burgeoning trend in the realm of the Internet of Things. 5G, being the fifth generation of wireless communication technology, delivers notably elevated data transfer speeds compared to its predecessors. The fusion of zigbee and thread wireless sensor with 5G networks equips IoT devices and sensors to harness this high-speed connectivity, leading to swifter data transmission and prompt responses. 5G networks have earned recognition for their ultra-low latency, translating to minimal delays in sending and receiving data. This low-latency attribute holds immense significance for specific real-time IoT applications like autonomous vehicles, industrial automation, and remote surgical procedures. The zigbee and thread wireless sensors can capitalize on 5G's low-latency capabilities, ensuring expeditious and responsive communication.
zigbee and thread wireless sensor market SEGMENTATION
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- By Type
Based on Type zigbee and thread wireless sensor market is classified as Zigbee, and Thread.
- By Application
Based on Application zigbee and thread wireless sensor market is classified as Industrial Management, Energy Management, Residential, and Others.
DRIVING FACTORS
"Rapid Growth of IoT Applications to Fuel Market Growth "
The zigbee and thread wireless sensors market growth has been significantly propelled by the widespread adoption of Internet of Things (IoT) applications spanning various sectors, such as smart homes, industrial automation, healthcare, agriculture, and smart cities. The zigbee and thread wireless sensor have established themselves as essential components, offering the low-power and dependable communication necessary for IoT devices.
"Energy Efficiency to Stimulate Market Progress"
The zigbee and thread wireless sensors are recognized for their energy-efficient performance, characterized by a low-power design that significantly prolongs the battery life of connected devices. This quality renders them highly suitable for battery-powered sensors and devices deployed in remote or challenging-to-access areas.
RESTRAINING FACTORS
"Interoperability Challenges to Harm Market Growth "
Despite the intended interoperability of Zigbee and Thread protocols, integrating devices from various manufacturers can still pose challenges. In mixed-protocol environments, compatibility issues may emerge, potentially impeding the growth of these ecosystems.
zigbee and thread wireless sensor market REGIONAL INSIGHTS
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"North America witnessed widespread utilization across diverse sectors to Drive Market Share"
North America, particularly the U.S. and Canada, has solidified its position as a significant stronghold for zigbee and thread wireless sensors. These regions have not only witnessed extensive adoption but have also secured a substantial share of the market across diverse sectors, encompassing smart homes, industrial automation, and healthcare. The presence of regulatory support for IoT and smart technologies has been a key driver in augmenting their zigbee and thread wireless sensors market share. Initiatives like smart city development and the promotion of energy-efficient buildings have further propelled the growth of these technologies, consolidating North America's market dominance.
KEY INDUSTRY PLAYERS
"Multitude of companies that played a pivotal role in expansion of Zigbee and Thread Wireless Sensor"
Numerous influential industry leaders played pivotal roles in the zigbee and thread wireless sensor market growth, significantly influencing market dynamics and propelling the adoption of Zigbee and Thread technologies. Silicon Labs, a notable semiconductor firm, took center stage in this arena by offering a wide array of IoT solutions, encompassing zigbee and thread wireless sensor connectivity solutions. They are renowned for their extensive lineup of chips and software tailored for diverse IoT applications.
List of Market Players Profiled
- Nordic Semiconductor (Norway)
- Texas Instruments Incorporated (U.S.)
- Telink-Semi (China)
- Microchip (U.S.)
- Qorvo (U.S.)
REPORT COVERAGE
The future demand for the zigbee and thread wireless sensors market is covered in this study. The Research report includes the Impact of Increased Demand for Remote Monitoring due to the Covid-19 Impact. The report covers the latest trends in Growing Demand for5G Integration. The paper includes a segmentation of the zigbee and thread wireless sensors market. The research paper includes the driving factors that are Rapid Growth of IoT Applications to Fuel Market Growth. The report also covers information on Regional Insights where the region which has emerged leading market for zigbee and thread wireless sensors.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 1428.8 Million in 2021 |
Market Size Value By |
US$ 4215.86 Million by 2027 |
Growth Rate |
CAGR of 19.76% from 2021 to 2027 |
Forecast Period |
2022-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global zigbee and thread wireless sensors market expected to touch by 2027?
The global zigbee and thread wireless sensors market size is expected to reach USD 4215.86 million by 2027.
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What CAGR is the global zigbee and thread wireless sensors market expected to exhibit by 2027?
The global zigbee and thread wireless sensors market is expected to exhibit a CAGR of 19.76% by 2027.
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Which are the driving factors of the zigbee and thread wireless sensors market?
The driving factors of the zigbee and thread wireless sensors market are Rapid Growth of IoT Applications, and Energy Efficiency.
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Which are the key players or most dominating companies functioning in the zigbee and thread wireless sensors market?
Nordic Semiconductor, Texas Instruments Incorporated, Telink-Semi, Microchip, and Qorvo are the key players or most dominating companies functioning in the zigbee and thread wireless sensors market.