Global Consumer IoT Market Set to Grow at Healthy CAGR of 17.48% by 2026
Consumer IoT (Internet of Things) can be described as a type of Internet of Things, with the main difference coming on the application and the devices it is used on. Internet of Things connects the different devices, networks, systems so that there is ease of communication and usage. Global consumer IoT market is expected to rise from its initial estimated value of USD 47.50 billion in 2018 to an estimated value of USD 172.34 billion by 2026, registering a CAGR of 17.48% in the forecast period of 2019-2026.
Few of the major competitors currently working in the consumer IoT market are Qualcomm Technologies Inc., Texas Instruments Incorporated, NXP Semiconductors, Intel Corporation, STMicroelectronics, IBM Corporation, GENERAL ELECTRIC, Symantec Corporation, TE Connectivity, Schneider Electric, Cisco, Amazon.com Inc., Apple Inc., Google, LG Electronics, SAMSUNG, Sony Corporation, Microsoft, AT&T Intellectual Property, Honeywell International Inc., and Hewlett Packard Enterprise Development LP.
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Segmentation: Global Consumer IoT Market
Global Consumer IoT Market, By Offerings (Node Component, Network Infrastructure, Solution, Service), End-Use Application (Wearable Devices, Consumer Electronics, Healthcare, Home Automation, Automotive), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Key Developments in the Market:
- In April 2018, TE Connectivity displayed its data connectivity and sensor solutions for automobile solutions at WCX18 World Congress Experience (SAE) conducted in Detroit, Michigan, United States from 10-12, April, 2018.
- In February 2018, Qualcomm Technologies Inc. announced the launch of new Internet of Things (IoT) development kits established on the QCA4020 & QCA4024 system-on-chips (SoCs).
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This Global Consumer IoT Market research report has several benefits which can be projected to varied aspects of Information and Communication Technology industry. This Global Consumer IoT Market report takes into account diverse segments of the market analysis that today’s business ask for. In this report, market is segmented based on mainly type, application, and region. The report includes market analysis based on regional as well as global level. Moreover, this Global Consumer IoT Market report serves the purpose of validating the information that has been gathered through internal or primary research. The report describes estimations of CAGR values, market drivers and market restraints about the Information and Communication Technology industry which are helpful for businesses in deciding upon numerous strategies.
- Growing number of internet users and increasing adoption of smart and multimedia devices is expected to drive the market growth
- Increased convenience and ease-of-life with consumer IoT is also expected to drive the market growth
- Risks of privacy of data and breaches associated with consumer IoT is expected to restrain the market growth
- High amount of power consumption conducted by the connected devices is also expected to restrain the market growth
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Market research reports are very influential in many ways to grow your business. This Global Consumer IoT Market report is a superior and comprehensive market research report which endows professionals with a lot of aspects about the market and the industry. The Global Consumer IoT Market report presents market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, their preferences for particular product and market demand and supply scenarios. The report is a useful resource that provides current as well as upcoming technical and financial details of the Information and Communication Technology industry to 2025.