Market Overview —
Consumer IoT refers to the Internet of Things (IoT) usage in consumer applications and devices. Consumer electronics are considered as a key area in the IoT which is gaining prevalence every day. Home appliances connected to the internet can reduce the workload of humans. Via IoT, not only the data regarding daily usage of applications can be recorded and stored on the data server, but it can also run analysis on the internet which can detect patterns and can schedule run on their own.
Market Research Future (MRFR) has published a research report about the global IoT in consumer electronics market that spells huge expansion for this market at 24.16% CAGR (Compound Annual Growth Rate) between 2017 and 2023. In terms of value, the market has been estimated to be worth US $ 124 bn.
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The key driving force behind the global IoT in consumer electronics market growth is the burgeoning electronics market. Other important factors helping the market growth are growing use of cloud computing, increasing usages of smartphones and tablets for controlling IoT devices, and developments in IoT security.
Some of the key players in the global Iot In Consumer Electronics Market are Intel Corporation (U.S.), IBM Corporation (U.S.), Gainspan (U.S.), Apple Inc. (U.S.) Particle.io (U.S.), Libelium Comunicaciones (Spain), Qualcomm Technologies (U.S.), Silicon Laboratories (U.S.), Lantronix, Inc. (U.S.), ARM Holdings Plc., (U.K), Symantec (U.S.), PTC (U.S.), Texas Instruments (U.S.), Hewlett Packard Enterprise (U.S.), STMicroelectronics (Switzerland), Cisco Systems (U.S.), Amazon Web Services (U.S.), Ayla Networks (U.S.), Losant IoT (U.S.), Notion (U.S.), Pepper (U.S.) among others.
IoT in Consumer Electronics Market – Segments
The MRFR analysis is segmented into four key dynamics.
• By Products: Smart TV, Smart Phones, Wearable Devices, Kitchen Appliances, and Printers among others.
• By Deployment: On-Cloud, and On-Premise.
• By Connectivity: NFC, Bluetooth, Wi-Fi, Zwave, and ZigBee
• By Regions: North America, Europe, APAC and Rest-of-the-World (RoW).
IoT in Consumer Electronics Market – Regional Analysis
North America is projected to be the leading market for consumer electronics, globally holding the largest market share owing to the presence of major electronics manufacturers. Attributing to the increasing demand for digital technologies and growing technological advancements in the region, the U.S. and Canada account for the major contributor to the market growth in the region.
Furthermore, the presence of a well-established infrastructure supports the market growth, allowing implementations of advanced technologies. North America is expected to grow further over its previous growth records by 2023, followed by Europe and the Asia Pacific.
Europe accounts for the second-largest market for consumer electronics, globally. The market is expected to grow at a considerable CAGR (2017-2023), perceiving a huge uptake of these items across the region.
Asia-Pacific is emerging as one of the lucrative markets for the consumer electronics which is expected to generate a substantial CAGR by 2023. Burgeoning electronics markets mainly in China and India are contributing to the market growth in the region majorly.
Latest Industry News
Mapbox and Sprint are launching precision mapping technology with Curiosity IoT. This technology allows automated services that run on Sprint’s dedicated internet of things (IoT) network to move around the world with pinpoint accuracy. 9 JAN 2019
Swiss-based cybersecurity and IoT company WISekey has introduced WISeTrustBoot, which is the first platform-independent Secure Boot and Secure Firmware Update solution that can be used as stand-alone or as part of WISeKey’s security framework for IoT installations, WISeKeyIoT. 9 JAN 2019
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• 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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Name: Abhishek Sawant
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Organization: Market Research Future
Release ID: 496741