Global Consumer IoT (CIoT) Market
Global consumer IoT market was valued US$ 47.2 Bn in 2017 and is expected to reach US$ 172.6 Bn by 2026, at a CAGR of 17.59 % during a forecast period.
Global Consumer IoT Market, by Solution & ServiceIoT (Internet of Things) is defined as the connection between any of the physical objects with network. Smart home is the most popular example consumer IoT.
The rising number of internet users & adoption of smart devices, growing awareness about fitness & growth in disposable incomes in developing economies are boosting the growth of the market. Government funding in R & D related to IoT is the key opportunity of the global consumer IOT market.
Consumer preference for improved convenience & better lifestyle, the growing significance of home monitoring from remote locations, and government rules for security of IoT devices are also propelling the growth of the global consumer IOT market. However, risks of data privacy, breaches associated in data security are limiting the growth of the market.
The solution segment in the consumer IoT market is expected to grow at the highest CAGR during the forecast period owing to the rise in the number of connected devices, and growth in the volume of data. Moreover, the rise in the number of connected devices is controlling physical infrastructure & increased connectivity, which creates the CIoT devices and their networks more vulnerable to cyber-attacks.
Home automation is estimated to hold the largest share of the consumer IoT market during the forecast period owing to the rising demand amongst customers for better & convenient lifestyles and increased internet penetration in smart devices. The rising demand for home monitoring in remote locations, and the growing adoption of home automation devices in applications such as security, HVAC and energy management are also boosting the growth of the home automation segment.
Healthcare is projected to lead the market due to the growing fitness awareness among the people and the rising number of chronic diseases such as heart disease, blood pressure etc., and increasing senior population. The demand for the wearable devices is increasing due to the developing urbanization and changing lifestyles such as rapidly uses of smart watches & glasses and health and fitness bands.
The growing demand for smart devices from consumer electronics, wearable, and home automation applications are leading the growth of the consumer IoT market in the North America region. The growing health awareness due to rising occurrences of chronic diseases & number of diabetes patients and easy use of medical devices are also boosting the growth of the North America region in the CIoT market.
Key player operating in the global 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.
The report covers a comprehensive study of major market drivers, restrains, opportunities, challenges, PESTEL, Porters, SWOT, and technological forecasting in the market.
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The Scope of Global Consumer IoT Market:
Global Consumer IoT Market, by Node Component:
• Processor
• Sensor
• Connectivity IC
• Memory Device
• Logic Device
Global Consumer IoT Market, by Network Infrastructure:
• Server
• Storage
• Ethernet Switch & Routing
• Gateway
Global Consumer IoT Market, by Solution & Service:
• Software & Platform Solution
• Professional & Managed Services
Global Consumer IoT Market, by End-user:
• Wearable Devices
• Consumer Electronics
• Healthcare
• Home Automation
• Automotive
• In-Car Infotainment
• Traffic Management
Global Consumer IoT Market, by Region:
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa
Key Player Operating In the Global Consumer IoT Market:
• 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.
• Hewlett Packard Enterprise Development LP
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