According to SPER Market Research analysis,
the global consumer IoT market expected to reach USD 153.83 billion in 2027 from USD 59.59 billion in 2019, registering a CAGR of 11.60% during the forecast period (2020-2027). The rapid pace of urbanization in developed regions and rising demand for connected smart devices estimated to propel the global consumer IoT market in the estimated periods. With the help of a smartphone or virtual assistant, they can automate chores such as laundry or repurchase of items in the refrigerator. Additionally, the growing demand for home monitoring in remote locations and the rising adoption of home automation devices expected to drive the growth of consumer IoT market. Connected devices provide consumers with new ways of shopping and transactions, as well as opportunities for businesses to learn from consumer behaviours to create better products and user experiences. In addition, the development of the Internet of Things can improve the efficiency of processes such as retail inventory management, warehouse operations, and customer analysis.
Additionally, the rapid economic development in developing countries resulted in augmented growth. SPER Market Research analysts estimates the consumer IoT has become a key information system in the IT and consumer electronics industry includes regional analysis on North America Asia-Pacific, Europe, South America, and Middle East & America.
Companies Covered
- Qualcomm Incorporated
- Texas Instruments Incorporated
- NXP Semiconductors N.V.
- Intel Corporation
- STMicroelectronics N.V.
- International Business Machines Corporation
- General Electric
- Symantec Corporation
- TE Connectivity Ltd.
- Schneider Electric SE
- Cisco Systems, Inc.
- Other Prominent Players
Key Questions Answered by Report
- What was the market size trend of 2015-19?
- What will be the market size trend of next 4-5 years?
- What are the most common brands in terms of volume?
- And others
Reasons to buy this report
- This SPER Market Research report will help to develop Business Strategies by understanding the trends shaping and driving Consumer IoT market.
- Organize sales and marketing efforts by identifying the best opportunities for Consumer IoT market.
- To understand the future market competition in the Global consumer IoT market.
The report is based on in-depth qualitative and quantitative analysis of the Global Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Browse report overview on "Global Consumer IoT Market by Node Component (Processor, Sensor, Connectivity IC, Memory Device, and Logic Device), by Network Infrastructure (Server, Storage, Ethernet Switch and Routing, and Gateway), by Solution (Software, and Platform), by Service (Professional Services, and Managed Services), by End-Use (Wearable Devices, Consumer Electronics, Healthcare, Home Automation and Others), and By Region (North America, Europe, Asia Pacific, South America, and Middle East &Africa) Global Forecast to 2027" at:
https://www.sperresearch.com/report-store/Global-Consumer-IoT-Market.aspx