Consumer IoT Market worth 16.70% CAGR by 2027
" COVID-19 Impact on Consumer IoT Market, size, share, growth, industry analysis, and forecast 2021-2027 "
Consumer IoT is the broad term that introduces various connected devices, including smartphones, electronic wearable, and home appliances, to the internet network. The internet of things varies from the consumer IoT in terms of the devices and their applications. The home appliances connected to the internet allow the reduction of workload for humans. It provides better business insights, resource tracking, better interaction and communication with people, streamlines business, and many other benefits.
More and more business leaders deploy IoT data management software to obtain a competitive advantage with predictive analytics and optimize business operations. The growing demand for home monitoring in remote locations coupled with the increasing adoption of home automation devices is another robust factor fostering the growth of the consumer IoT market. A variety set of smart devices and equipped sensors to develop structure and unstructured data of the global consumer IoT market is also a major factor anticipated to bode well with the global consumer IoT market growth in the upcoming years.
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Furthermore, the increasing funding from the government for research and development in consumer IoT is promoting market growth. In addition, the beneficial government regulations to promote green buildings are further providing lucrative opportunities for the consumer IoT market growth.
The Consumer IoT Market research report titled “Consumer IoT Market based on Offerings, End User and Geography – Global Forecast up to 2027.”
The key competitors operating in the consumer IoT market are Qualcomm Technologies Inc., Texas Instruments Incorporated, Hewlett Packard Enterprise Development LP, Amazon.com Inc., and AT&T Intellectual Property.
The North American region is a key contributor to market growth. This is due to the extensive adoption of IoT technologies in various industries such as retail, automotive, healthcare, and consumer electronics, rapidly increasing adoption of smart connected devices, and increasing digitalization in the region.
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The report consists of 76 Tables and 46 charts depicting the in-depth market study and the impact analysis of COVID-19. View detailed TOC here.
Consumer IoT Market based on Offerings
- Network Infrastructure
- Node Components
Consumer IoT Market based on End-User
- Wearable Devices
- Consumer Electronics
- Home Automation
Consumer IoT Market based on Geography
- North America
- Asia Pacific
- Rest of the World