Global Consumer Internet of Things (CIoT) Market expected to reach approximately USD 143.5 billion by 2025, at a CAGR of 17.42% between 2019 and 2025
NEW YORK, NEW YORK, UNITED STATES, February 19, 2020 /EINPresswire.com/ — Zion Market Research has published a new report titled “Consumer Internet of Things (CIoT) Market by Node Component (Sensor, Logic Device, Processor, Connectivity IC, and Memory Device), by Network Infrastructure (Storage, Gateway, Ethernet Switch and Routing, and Server), by Solution (Software and Platform), and by Application (Home Security and Smart Domestic, Wearable Technology, Personal Healthcare, Asset Tracking, Smart Office, Smart Homes, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025’’. According to the report, the global consumer internet of things (CIoT) market was valued at around USD 46.6 billion in 2018 and is expected to reach approximately USD 143.5 billion by 2025, at a CAGR of 17.42% between 2019 and 2025.
Consumer IoT is basically a wireless connection of millions of consumer devices, such as smartphones, smart fashion, smart wearable, etc., through the internet for accumulating and sharing information.
The increasing number of IoT-based consumer applications, such as smart homes, personal assistants, wearable tech, and smart security systems is likely to steer the consumer internet of things (CIoT) market in the future. The growing worldwide demand for advanced IoT-based home technology is anticipated to further drive the consumer internet of things (CIoT) market in the future. The rising number of IoT-based security systems is also likely to drive consumer internet of things (CIoT) market worldwide. Some major factors restraining the consumer internet of things (CIoT) market growth include complex infrastructure, compatibility, and privacy issues related to IoT applications. The rising number of personal IoT devices is estimated to create new growth opportunities for the consumer internet of things (CIoT) market over the forecast timeframe. In 2017, over 27 billion devices were connected through IoT and this number is estimated to reach 125 billion by 2030.
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The global consumer internet of things (CIoT) market is majorly segmented on the basis of node component, network infrastructure, solution, and application. The node component segment is categorized into the sensor, a logic device, processor, connectivity IC, and memory device. The processor segment is further categorized into the microcontroller (MUC) and a microprocessor (MPU). Wired and wireless are the sub-segments of connectivity IC. The memory device further segment includes flash and DRAM. Wireless segment is anticipated to grow rapidly in the future. By network infrastructure, the market is segmented into storage, gateway, Ethernet switch and routing, and server. The Ethernet switch and routing segment are expected to hold substantial market share globally in the future. The solution segment includes software and platform. By application, the market is classified into home security and smart domestic, wearable technology, personal healthcare, asset tracking, smart office, smart homes, and others.
By region, North America is projected to dominate and to hold a prominent share of the global consumer internet of things (CIoT) market over the estimated timeframe. This can be attributed to the strong presence of leading market players and high product penetration rate for smart home applications.
Some key participants operating in the global consumer internet of things (CIoT) market are Hewlett Packard Enterprise Company (HPE), Qualcomm Incorporated, Honeywell International Inc., AT&T Inc., Texas Instruments Incorporated, Microsoft Corporation, NXP Semiconductors N.V., Sony Corporation, Intel Corporation, Samsung Electronics Co., Ltd., STMicroelectronics N.V., LG Electronics Inc., IBM, Cisco Systems, Inc., Symantec Corporation, Apple Inc., TE Connectivity Ltd., Schneider Electric SE, Amazon, and Alphabet Inc., among others.
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This report segments the global consumer internet of things (CIoT) market as follows:
Consumer Internet of Things (CIoT) Market: Node Component Analysis
The microprocessor (MPU)
Consumer Internet of Things (CIoT) Market: Network Infrastructure Analysis
Ethernet Switch and Routing
Consumer Internet of Things (CIoT) Market: Solution Segment Analysis
Consumer Internet of Things (CIoT) Market: Application Analysis
Home Security and Smart Domestic
Consumer Internet of Things (CIoT) Market: Regional Analysis
The Middle East and Africa
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Source: EIN Presswire