The global zigbee home automation market was valued at US$ 1,298.7 Million in 2020 and is expected to surpass US$ 3,846.4 Million by 2028, registering a CAGR of 15.2% during the forecast period (2021-2028), according to the Global ZigBee Home Automation Market Report, 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), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa), published by Coherent Market Insights.
One of the most important features of the ZigBee automation devices is that it uses lower levels of energy. ZigBee enabled devices in home automation monitor and control the use of power. ZigBee home automation systems have applications in smart bulbs, smart switches, smart meters, and other electric appliances. Therefore, consumption of less power by ZigBee enabled devices is one of the prominent factors, which is expected to fuel growth of the global ZigBee home automation market. Consumer’s inclination towards smart energy devices, owing to rise in electricity prices is expected to propel growth of the global ZigBee home automation market. There are many electric appliance manufacturers such as Schneider Electric, Signify (formerly Philips Lighting), Midea Group, and others that have joined ZigBee alliance. ZigBee Alliance is a non-profit association of companies creating, maintaining, and delivering open, global standards for the Internet of Things (IoT). For instance, The Midea Group, a China-based electrical appliance manufacturer adopted ZigBee Alliance technologies for its home appliances to deliver smart functionality to automated homes. Furthermore, in May 2016, Midea Group joined the ZigBee Alliance.
Additionally, players in the lighting industry have partnered with ZigBee manufacturers to offer low power consuming products and to develop internet connected light bulbs. For instance, Philips offers Philips Hue White and Color Ambiance A19 LED Smart Bulb, which is compatible with Bluetooth & ZigBee.
Globally, most of the countries are affected by COVID-19 and most of the countries have announced lockdown. Moreover, the spending pattern of people across the globe have also changed owing to the COVID-19 pandemic. According to WMR’s study, consumers have increased their spending on healthcare products, groceries, and other essential products and reduced their spending on other luxury products. Furthermore for installing home automation systems, it requires professional workers which can work on-site to install and channelize the working of whole automation system, and due to COVID-19 pandemic companies are facing challenges to provide on-site installation. As a result players in the market witnessed decline in their sales.
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