IoT in Consumer Electronics is a kind of medium where using internet, devices maintain a smart interconnection. The interconnection is quite intelligent and are more in action in the home electronics segment. This sort of technology turns the home into a smart home. With the current growth, the global IoT in consumer electronics market is all set to climb USD 120 billion valuation by 2023. It will earn 24% CAGR during the forecast period (2018-2023), claims Market Research Future (MRFR0 while discussing the IoT in consumer electronics market in their report.
Rapidly increasing demand for smart homes, high growth in the construction sector, rise in cloud computing, surge in the security process, lowering in data tariff plans, and others are major factors that can impress the global IoT in consumer electronics market in the coming years.
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MRFR segmented the global Internet of Things in Consumer Electronics Market on the basis of product, deployment, and connectivity. Such a segmentation is backed by ample data and figures provided by analysts after volume-wise and value-wise reading of the market.
Based on the product, the global IoT in consumer market is segmented into washing machine, smart TV, smartphones, wearable devices, printers, kitchen appliances, laptops, dishwashers, and many more. The smartphones segment is playing a pivotal role as it can also turn into a controller from a remote location for various associated companies.
Based on the deployment, the IoT in consumer market can be segmented into on-premise and on-cloud. The on-cloud segment is gaining substantial mileage in the market. It is cheap and available all the time, which is good for various consumer-driven markets.
Based on the connectivity, the IoT in consumer market comprises NFC, Bluetooth, Wi-Fi, Zwave, zigbee and others. The Wi-Fi segment relies much on Ethernet-based communication to provide easy access and short-range wireless connectivity. By using Wi-Fi, several appliances can be connected. Right from smart TVs, ACs to phones all can be brought under this purview.
North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW) are four regions that have been included in the global understanding of the IoT in consumer electronics market. Growth pockets in these regions are the main targets of this global IoT in consumer electronics market report.
North America has the high potential of rising as the market at the helm of the global market. The growth mostly depends on the presence of major electronics brands operating from the region. The constant rise in demand for advanced electronics, digital technologies, and high investment capacity are features that can take the global market ahead. Among them, the US and Canada have evolved as the major market contributors.
The regional market is expected to be followed by Europe and the APAC who are investing substantially to witness growth in the sector. They have realized the potential the market has and are accordingly developing their strategies. In the Europe, Germany, France, and the UK are expected to provide substantial backup for the growth of the market. The APAC, on the other hand, would enjoy the impact of burgeoning markets like China and India.
Prominent companies are investing substantially to take lead in the global IoT in Consumer Electronics Market. These companies are IBM Corporation (U.S.), Intel Corporation (U.S.), Apple Inc. (U.S.) Gainspan (U.S.), Libelium Comunicaciones (Spain), Particle.io (U.S.), Lantronix, Inc. (U.S.), Qualcomm Technologies (U.S.), Silicon Laboratories (U.S.), Symantec (U.S.), ARM Holdings Plc., (U.K), Hewlett Packard Enterprise (U.S.), PTC (U.S.), Texas Instruments (U.S.), Cisco Systems (U.S.), Amazon Web Services (U.S.), STMicroelectronics (Switzerland), Losant IoT (U.S.), Ayla Networks (U.S.), Pepper (U.S.), Notion (U.S.), and others. MRFR listed these companies and profiled them for better acknowledgement of trends.
In July 2019, Soracom is expected to deliver their new product SORACOM Napter. The device provides benefits like on-demand remote access. The technology is a pretty secure remote device. It needs no additional device configuration.
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