IoT in Consumer Electronics Market Synopsis
The IoT in
consumer electronics market is projected to register a CAGR of
18% from 2022 to 2030. Consumer IoT is a wide range of linked products
connected to the internet network, including smartphones, wearable electronics,
and household appliances. 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.
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.
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The IoT
(Internet of Things) has revolutionized the way we live our lives, and the
consumer electronics market is no exception. IoT technology is being integrated
into a wide range of consumer electronics products, from smart home appliances
to wearables and beyond.
The IoT in
consumer electronics market is growing rapidly, with a wide range of products
now available to consumers. Some of the most popular IoT-enabled consumer
electronics products include:
Smart Home
Devices: IoT-enabled devices such as smart thermostats, smart lighting, and
smart security systems are becoming increasingly popular. These devices can be
controlled remotely using a smartphone app, and can even be programmed to
automatically adjust settings based on your preferences or routines.
Wearables:
IoT-enabled wearables like smartwatches and fitness trackers are becoming more
advanced, with features such as heart rate monitoring, GPS tracking, and more.
These devices can also be used to track sleep, monitor stress levels, and
provide notifications from your smartphone.
Market Segmentation
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.
Competitive Landscape
Technically
advanced regions are expected to accelerate the IoT in consumer electronics
market growth worldwide. The global IoT in consumer electronics market is set
to witness challenges including lack of awareness, however, companies in the
IoT in consumer electronics market will sustain the growth rate. The IoT in
consumer electronics market research report also offers company profiles of key
players operating in the IoT in consumer electronics market around the world.
Additionally, the global IoT in consumer electronics market report provides
detailed analysis of the market based on primary and secondary research data
collected from the IoT in consumer electronics market’s key decision makers as
well as stakeholders.
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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.
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Key
Players
MRFR listed a few key players functioning in the world IoT in consumer electronics market. They are IBM Corporation (U.S.), Intel Corporation (U.S.), Apple Inc. (U.S.), Gainspan (U.S.), Libelium Comunicaciones (Spain), Particle.io (U.S.), Silicon Laboratories (U.S.), Qualcomm Technologies (U.S.), ARM Holdings Plc., (U.K), Lantronix, Inc. (U.S.), PTC (U.S.), Symantec (U.S.), Hewlett Packard Enterprise (U.S.), Texas Instruments (U.S.), Cisco Systems (U.S.), STMicroelectronics (Switzerland), Ayla Networks (U.S.), Amazon Web Services (U.S.), Notion (U.S.), Losant IoT (U.S.), and Pepper (U.S.) among others.
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