Consumer IoT Market: Global Outlook, Key Developments, And Market Share Analysis | 2023-29
Stratview Research delivers key insights on the Consumer IoT Market. According to Stratview Research, the market is segmented by Solution (Software, Platform), Service (Professional Services, Managed Services), by End-use Application (Wearable Devices, Consumer Electronics, Healthcare, Home Automation, Automotive), and Region.
Market Insights
The report suggests that the overall Consumer IoT Market is expected to grow from USD 88.64 billion in 2022 to USD 205.30 billion by 2029 at a CAGR of 12.7% during the forecast period.
Market Segments' Analysis
Connectivity Technology Insights
The wireless connectivity technology segment is forecasted to grow at a rapid pace, with a projected growth rate of over 13% from 2022 to 2029. This growth is due to the flexibility offered by these networks, as they do not require hardware installations and can easily be expanded without any constraints.
Regional Insights
North America is the leading region in generating revenue for the consumer IoT market. The growing demand for smart devices in the consumer electronics, wearable, and home automation industries have contributed to the growth of the consumer IoT market in this region.
Key Players
The following are some of the key players in the consumer iot market:
- Texas Instruments
- Qualcomm
- Intel
- NXP Semiconductors
- STMicroelectronics
- IBM
- GE
- Schneider Electric
FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for consumer iot market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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