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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

ZigBee home automation is nothing but a control system which is used in automated homes which can automate various systems of home which include entertainment system, lighting system, security system. ZigBee home automation system can monitor and control energy usage, HVAC systems of the home as well as health of an individual.There are various factors complementing the adoption of ZigBee home automation which includes, growing importance of home security and surveillance, increasing disposable income, awareness about energy efficiency, and others

The increasing adoption of home automation for smart home applications is one of the primary factors which is expected to drive growth of the global ZigBee home automation marke. ZigBee home automation is used in various smart home applications, which include entertainment, security and surveillance systems, smart energy/smart grid, AMR (Automatic Meter Reading), lighting controls, building automation system, HVAC (Heating, Ventilation and Air Conditioning) control, and others. The growing adoption of ZigBee home automation for safety and security purpose is one of the factors fueling growth of the global zibee home automation market. There are some market players, which offer safety and security solutions. For instance, HDL Automation company, which provides wired and wireless whole home automation products, offers ZigBee/Buspro Converter that supports ZigBee door lock device. Furthermore, adoption of smart homes in North America and Europe is expected to fuel growth of global ZigBee home automation market. Moreover, the increasing disposable incomes in Asia Pacific region are rising the standard of living of people and this is expected to drive the demand for smart homes. For instance, according to the India Brand Equity Foundation (IBEF), the per-capita net national income during 2019-20 was estimated to be US$ 1,839.92 Mn (Rs. 1,35,050), exhibiting a rise of 6.8 % compared to US$ 1,722.16 Mn (Rs. 1,26,406) during 2018-19 with the growth rate of 10.0 %.

Although home automation system makes operations of various home appliances convenient, the cost of full set up of the same is high. For instance, home automation systems consist of heating, ventilation, and air conditioning systems, smart water meter,  centralized lighting systems, advanced kitchen appliances, entertainment devices such as audio video systems, and security & surveillance systems, which include door locks, alarms, smoke sensors, intrusion detection sensor, security cameras, and door & window sensors. Therefore, requirement of high initial investment for home automation is hampering the growth of the global ZigBee home automation market.

Global ZigBee Home Automation Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 has significantly disrupted almost all the industries including automotive, medical & healthcare, consumer electronics, clothing & textile, food & beverage, automation, manufacturing, aerospace & defense, oil & gas, construction, semiconductor, agriculture, and others. The global ZigBee home automation market was affected, as many key players in the market had to temporarily closedown in order to safeguard health of their employees. Furthermore, on the supply chain side, unavailability of raw materials for manufacturing of components due to complete lockdown is a major restraint for the growth of the market. Due to delay in supply of raw materials and components, the manufacturing companies were unable to deliver the products in the market. Therefore, global ZigBee home automation market is affected by the pandemic. As governments are opening up in phases in many countries, production is resuming, however, companies are still working with partial employees on the shop floor and remaining from home. Several ZigBee home automation companies witnessed decrease in sales of their products as the supply chain was disrupted by lockdown orders. The revenue of many market players such as Honeywell International, Inc., NXP Semiconductors, Renesas Electronics Corporation, and others decreased in 2020 as compared to 2019. For instance, in the period 2019 to 2020, revenue of Honeywell International, Inc. decreased by about 11.1%.

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ZigBee Home Automation Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2020: US$ 1,298.7 Mn
Historical Data for: 2017 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2021 to 2028 CAGR: 15.2% 2028 Value Projection: US$ 3,846.4 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:
  • By Component: Single-chip Solutions, Transceivers, Modules, Microcontrollers and Others
  • By Product Type: Full Function Devices (FFDs) and Low Cost Reduced Function Endpoint Devices (RFDs)
  • By Application: Entertainment, ( Virtual Personal Assistant, Speakers/Audio Distribution, Others), Security & Surveillance Systems (Alarms, Door Locks, Door/Window Sensor, Security Cameras Others), Lighting( Smart Bulbs, Smart Switches, Others) HVAC Controls, Energy Monitoring (Smart Meter, Others) and Others
Companies covered:

NXP Semiconductors, Renesas Electronics Corporation, STMicroelectronics, Texas Instruments Incorporated, HDL Automation, Hogar Controls, Honeywell International, Inc., Control4, Legrand, Silicon Laboratories, Signify N.V., Somfy Systems Inc., LEEDARSON, Maven Systems Pvt. Ltd., TIS Control Limited, Microchip Technology Inc., Digi International Inc., and Thales Group

Growth Drivers:
  • Increasing Adoption Of Home Automation
  • Awareness For Efficient Energy Usage
Restraints & Challenges:
  • High Initial Investment

North America held dominant position in the global zigbee home automation market during the forecast period

Statistics:

North America held dominant position in the global zigbee home automation market in 2019, accounting for 37.3% share in terms of value, followed by Asia Pacific and Europe.

Figure 1: Global ZigBee Home Automation Market Share (%), By Region, 2020

ZigBee Home Automation  | Coherent Market Insights

North America is expected to account for the largest market share during the forecast period. The rapid technological advancements, increasing penetration of internet users, and a large number of ZigBee product and service providers in the region are expected to drive the North America market growth during the forecast period. For instance, according to the Worldwide Market Reports’ analysis, there were 288.1 million internet users in the U.S. in 2020. For instance, In February 2019, Texas Instruments Incorporated, a U.S.-based semiconductor manufacturing company, launched SimpleLink CC2652RB wireless microcontroller (MCU) and the LMK05318, new bulk acoustic wave (BAW)-based embedded processing and analog chips specially developed for communications infrastructure and connectivity.

Asia Pacific region is expected to exhibit highest growth during the forecast period. The rising adoption of IoT, rapid urbanization, and increasing demand for wireless technology devices that consume less power are expected to drive the Asia Pacific market growth during the forecast period. In August 2020, Renesas Electronics Corporation, a Japan-based semiconductor manufacturing company, launched RYZ012 Module with Bluetooth Low Energy (LE), Bluetooth LE Mesh, and ZigBee. RYZ012 Module is specially developed for the internet of things (IoT) applications to reduce or mitigate these losses.

Single-Chip Solutions segment is expected to drive the market growth during the forecast period

Among component, the single-chip solutions segment is expected to hold dominant position in the global zigbee home automation market during the forecast period. The increasing demand for smart home appliances and the internet of things (IoT) in order to reduce energy consumption is expected to drive the segment growth during the forecast period. In addition, in February 2016, Silicon Labs, a U.S.-based semiconductor manufacture company, launched wireless Gecko SoCs that are used to provide high performance and connectivity for IoT devices. Furthermore, several major players are focusing on launching products in order to strengthen their position in the global market. For instance, In February 2020, Silicon Laboratories launched EFR32MG22 (MG22) family, ultra-low-power ZigBee system-on-chip (SoC) devices. The device is specially developed for smart home sensors, lighting controls, and building and industrial automation.

Figure 2: Global ZigBee Home Automation Market Value (US$ Mn) Analysis and Forecast and Y-o-Y Growth (%), 2017 - 2028

ZigBee Home Automation  | Coherent Market Insights

The global zigbee home automation market was valued at US$ 1,298.7 Mn in 2020 and is expected to reach US$ 3,846.4 Mn by 2028 at a CAGR of 15.2% between 2021 and 2028.

Major players operating in the global zigbee home automation market include NXP Semiconductors, Renesas Electronics Corporation, STMicroelectronics, Texas Instruments Incorporated, HDL Automation, Hogar Controls, Honeywell International, Inc., Control4, Legrand, Silicon Laboratories, Signify N.V., Somfy Systems Inc., LEEDARSON, Maven Systems Pvt. Ltd., TIS Control Limited, Microchip Technology Inc., Digi International Inc., and Thales Group.

The growing need to reduce energy consumption by integrating lighting products with advanced technologies such as cloud and IoT-enabled devices is expected to drive the segment growth during the forecast period. For instance, in April 2017, Inter IKEA Systems B.V., a Netherland-based furniture manufacturing company, launched affordable smart light bulbs for IoT enabled homes. Most of the companies such as Ledvance GmbH and OSRAM Sylvania Inc. are developing advanced technology products in order to remain competitive in the market. For instance, in January 2018, Ledvance GmbH, a Germany-based lighting company, launched Bluetooth mesh-based smart LED lamps with Zigbee wireless network technology. Furthermore, rising adoption of wireless technology across the globe is also fueling the segment growth.

Market Dynamics

Rapid urbanization in emerging economies of Asia Pacific and Africa region is expected to propel the growth of ZigBee home automation market over the forecast period. High economic growth, and growing real estate and construction sector are driving the growth of the market in Asia Pacific region. Furthermore, large population of countries such as India and China is a complementary factor for home construction industry. Implementation of smart city projects in India and China is expected increase demand for home automation systems. For instance, according to Ministry of Housing and Urban Affairs, Government of India., the Government of India launched the Smart Cities Mission on June 25, 2015. Some of the core infrastructure elements of the smart city would include robust IT connectivity and digitalization, good governance, especially e-Governance and citizen participation, sustainable environment, safety and security of citizens, and others. Therefore, housing infrastructure development and smart city projects in India and China are expected to drive the demand for smart lighting, safety and security, smart HVAC controls, smart locks, and energy monitoring. Supportive government initiatives towards efficient energy usage such as implementation of smart meters is another factor which compliments the adoption of smart homes. For instance, according to India Smart Utility Week 2019, Government of India plans to implement 14 smart grid pilot projects by 2019. According to the Energy Information Administration (EIA), China exceeded the U.S. in federal smart grid subsidies for the first time in 2010, with over US$ 7.3 million invested compared to US$ 7.1 million in the U.S.

Key features of the study:

  • This report provides in-depth analysis of the global zigbee home automation market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2021– 2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading  market players
  • It profiles leading players in the global zigbee home automation market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
  • Companies covered as a part of this study include NXP Semiconductors, Renesas Electronics Corporation, STMicroelectronics, Texas Instruments Incorporated, HDL Automation, Hogar Controls, Honeywell International, Inc., Control4, Legrand, Silicon Laboratories, Signify N.V., Somfy Systems Inc., LEEDARSON, Maven Systems Pvt. Ltd., TIS Control Limited, Microchip Technology Inc., Digi International Inc., and Thales Group
  • Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
  • The global zigbee home automation market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global zigbee home automation market

Detailed Segmentation

  • Global ZigBee Home Automation Market, By Component:
    •  Single-chip Solutions
    •  Transceivers
    •  Modules
    •  Microcontrollers
    •  Others
  • Global ZigBee Home Automation Market, By Product Type:
    • Full Function Devices (FFDs)
    •  Low Cost Reduced Function Endpoint Devices (RFDs)
  • Global ZigBee Home Automation Market, By Application:
    • Entertainment
      •  Virtual Personal Assistant
      •  Speakers/Audio Distribution
      •  Others
    •  Security & Surveillance Systems
      •  Alarms
      •  Door Locks
      •  Door/Window Sensor
      •  Security Camera
      •  Others
    •  Lighting
      •  Smart Bulbs
      •  Smart Switches
      •  Others
    • HVAC Controls
    • Energy Monitoring
      • Smart Meter
      • Others
    •  Others
  • Global ZigBee Home Automation Market, By Region:
    • North America
      • By Component:
        • Single-chip Solutions
        • Transceivers
        • Modules
        • Microcontrollers
        • and Others
      • By Product Type:
        • Full Function Devices (FFDs)
        • Low Cost Reduced Function Endpoint Devices (RFDs)
      • By Application:
        • Entertainment
          •  Virtual Personal Assistant
          •  Speakers/Audio Distribution
          •  Others
        • Security & Surveillance Systems
          •  Alarms
          •  Door Locks
          •  Door/Window Sensor
          •  Security Camera
          •  Others
        • Lighting
          •  Smart Bulbs
          •  Smart Switches
          •  Others
        • HVAC Controls
        • Energy Monitoring
          • Smart Meter
          • Others
        • Others
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Component:
        • Entertainment
          •  Virtual Personal Assistant
          •  Speakers/Audio Distribution
          •  Others
        • Security & Surveillance Systems
          •  Alarms
          •  Door Locks
          •  Door/Window Sensor
          •  Security Camera
          •  Others
        • Lighting
          •  Smart Bulbs
          •  Smart Switches
          •  Others
        • HVAC Controls
        • Energy Monitoring
          • Smart Meter
          • Others
        • Others
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Component: 
        • Entertainment
          •  Virtual Personal Assistant
          •  Speakers/Audio Distribution
          •  Others
        • Security & Surveillance Systems
          •  Alarms
          •  Door Locks
          •  Door/Window Sensor
          •  Security Camera
          •  Others
        • Lighting
          •  Smart Bulbs
          •  Smart Switches
          •  Others
        • HVAC Controls
        • Energy Monitoring
          • Smart Meter
          • Others
        • Others
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Latin America
      • By Component:
        • Entertainment
          •  Virtual Personal Assistant
          •  Speakers/Audio Distribution
          •  Others
        • Security & Surveillance Systems
          •  Alarms
          •  Door Locks
          •  Door/Window Sensor
          •  Security Camera
          •  Others
        • Lighting
          •  Smart Bulbs
          •  Smart Switches
          •  Others
        • HVAC Controls
        • Energy Monitoring
          • Smart Meter
          • Others
        • Others
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East and Africa
      • By Component: 
        • Entertainment
          •  Virtual Personal Assistant
          •  Speakers/Audio Distribution
          •  Others
        • Security & Surveillance Systems
          •  Alarms
          •  Door Locks
          •  Door/Window Sensor
          •  Security Camera
          •  Others
        • Lighting
          •  Smart Bulbs
          •  Smart Switches
          •  Others
        • HVAC Controls
        • Energy Monitoring
          • Smart Meter
          • Others
        • Others
      • By Country/Region:
        • GCC Countries
        • South Africa
        • Rest of Middle East and Africa
  • Company Profiles
    • NXP Semiconductors *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments/ Updates
    • Renesas Electronics Corporation
    • STMicroelectronics
    • Texas Instruments Incorporated
    • HDL Automation
    • Hogar Controls
    • Honeywell International, Inc.
    • Control4
    • Legrand
    • Silicon Laboratories
    • Signify N.V.
    • Somfy Systems Inc.
    • LEEDARSON
    • Maven Systems Pvt. Ltd.
    • TIS Control Limited
    • Microchip Technology Inc.
    • Digi International Inc.
    • Thales Group

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Component
      • Market Snippet, By Product Type
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New system Launch/Approvals
      • Value Chain Analysis
      • Porter’s Analysis
      • PEST Analysis
    • Impact of COVID-19 Pandemic
      • Pre-COVID and Post-COVID Market Estimates
  4. Global ZigBee Home Automation Market, By Component, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2028 (%)
      • Segment Trends
    • Single-Chip Solutions       
      • Introduction
      • Market Size and Forecast, 2017-2028, (US$ Million)
    • Transceivers
      • Introduction
      • Market Size and Forecast, 2017-2028, (US$ Million)
    • Modules
      • Introduction
      • Market Size and Forecast, 2017-2028, (US$ Million)
    • Microcontrollers
      • Introduction
      • Market Size and Forecast, 2017-2028, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2017-2028, (US$ Million)
  5. Global ZigBee Home Automation Market, By Product Type, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2028 (%)
      • Segment Trends
    • Full Function Devices (FFDs)
      • Introduction
      • Market Size and Forecast, 2017-2028, (US$ Million)
    • Low Cost Reduced Function Endpoint Devices (RFDs)
      • Introduction
      • Market Size and Forecast, 2017-2028, (US$ Million)
  6. Global ZigBee Home Automation Market, By Application, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, 2020 and 2028 (%)
      • Segment Trends
    • Entertainment
      • Introduction
      • Market Size and Forecast, 2017-2028, (US$ Million)
        • Virtual Personal Assistant
        • Speakers/Audio Distribution
        • Others
    • Security & Surveillance Systems
      • Introduction
      • Market Size and Forecast, 2017-2028, (US$ Million)
        • Alarms
        • Door Locks
        • Door/Window Sensor
        • Security Camera
        • Others
    • Lighting
      • Introduction
      • Market Size and Forecast, 2017-2028, (US$ Million)
        • Smart Bulbs
        • Smart Switches
        • Others
    • HVAC Controls
      • Introduction
      • Market Size and Forecast, 2017-2028, (US$ Million)
    • Energy Monitoring
      • Introduction
      • Market Size and Forecast, 2017-2028, (US$ Million)
        • Smart Meter
        • Others
    • Others
      • Introduction
      • Market Size and Forecast, 2017-2028, (US$ Million)
  7. Global ZigBee Home Automation Market, By Region, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2028 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Component, 2017-2028 (US$ Million)
      • Market Size and Forecast, By Product Type, 2017-2028 (US$ Million)
      • Market Size and Forecast, By Application, 2017-2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Component, 2017-2028 (US$ Million)
      • Market Size and Forecast, By Product Type, 2017-2028 (US$ Million)
      • Market Size and Forecast, By Application, 2017-2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • U.K.
        • Germany
        • Spain
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Component, 2017-2028 (US$ Million)
      • Market Size and Forecast, By Product Type, 2017-2028 (US$ Million)
      • Market Size and Forecast, By Application, 2017-2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Component, 2017-2028 (US$ Million)
      • Market Size and Forecast, By Product Type, 2017-2028 (US$ Million)
      • Market Size and Forecast, By Application, 2017-2028 (US$ Million)
      • Market Share Analysis, By Country, 2020 and 2028 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Component, 2017-2028 (US$ Million)
      • Market Size and Forecast, By Product Type, 2017-2028 (US$ Million)
      • Market Size and Forecast, By Application, 2017-2028 (US$ Million)
      • Market Share Analysis, By Country/Region, 2020 and 2028 (%)
        • South Africa
        • GCC Countries
        • Rest of the Middle East and Africa
  8. Competitive Landscape
    • Company Profiles
      • NVIDIA Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Renesas Electronics Corporation
        •  Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • STMicroelectronics
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Texas Instruments Incorporated
        •  Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • HDL Automation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Honeywell International, Inc.
        •  Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Control4
        •  Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Legrand
        •  Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Silicon Laboratories
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Signify N.V.
        •  Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Somfy Systems Inc.
        •  Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • LEEDARSON
        •  Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Maven Systems Pvt. Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • TIS Control Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Microchip Technology Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Digi International Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Thales Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 60 market data tables and 40 figures on "ZigBee Home Automation Market - Global forecast to 2027”.

FAQgrowicon

Frequently Asked Questions

The global zigbee home automation market is expected to reach US$ 78.91615.7 million by 2022.
The market is expected to witness a CAGR of 15.2% during the forecast period (2020-2027).
The increasing adoption of home automation for smart home applications is one of the primary factors which is expected to drive growth of the market.
The HVAC Controls segment held the largest market share among end user, contributing 20.7% in terms of value in 2020.
North America region held the largest share in the market in 2019, accounting for 37.3% share in terms of value.
Key players operating in the market include NXP Semiconductors, Renesas Electronics Corporation, STMicroelectronics, Texas Instruments Incorporated, HDL Automation, Hogar Controls, Honeywell International, Inc., Control4, Legrand, Silicon Laboratories, Signify N.V., Somfy Systems Inc., LEEDARSON, Maven Systems Pvt. Ltd., TIS Control Limited, Microchip Technology Inc., Digi International Inc., and Thales Group.
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