From GlobeNewswire: 2024-11-07 09:57:00

The ZigBee market was valued at USD 4.39 Billion in 2023, projected to reach USD 8.48 Billion by 2032 with a 7.60% CAGR. Its growth is fueled by IoT adoption, smart home solutions, and applications in healthcare, agriculture, and industry. Zigbee’s role in smart city initiatives and IoT ecosystems is crucial for sustainable connectivity.

As smart home technologies expand, the Zigbee market accelerates. Over 400 million Zigbee devices were in use by 2021, with 66 million shipped in 2020. The emergence of Matter enhances compatibility, driving Zigbee’s role in energy-efficient smart home environments. ABI Research forecasts a 75% increase in Zigbee-powered smart lighting installations by 2025.

Zigbee Home Automation led the market with a 47% revenue share in 2023, driven by demand for smart home solutions like lighting, thermostats, and security systems. The Home Automation segment dominated, accounting for 50% of revenue, fueled by consumer interest in convenience and energy savings. North America led the market, with Asia Pacific emerging as the second fastest-growing region. Countries in Asia, like China, India, and Japan, are at the forefront of adopting Zigbee technology for smart cities. Major companies such as Xiaomi and Philips are expanding their Zigbee-enabled product lines, while Samsung and TP-Link are developing devices to enhance smart home interoperability.

Samsung recently released a firmware update for the SmartThings hub to improve Zigbee connectivity and fix device pairing issues, enhancing user experience. Aqara launched new Zigbee hub models in the UK, expanding their smart home ecosystem. Mouser Electronics announced the availability of the WBZ350 module, integrating Bluetooth and Zigbee radios for IoT applications.

The Zigbee market report covers key points like market dynamics impact analysis, statistical insights, competitive landscape, market segmentation by standard type, device type, and application. It also includes regional analysis, company profiles, use cases, and best practices for Zigbee technology. SNS Insider is a leading market research and consulting agency providing clients with accurate market data and insights to make confident decisions.



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