Global Consumer IoT Market: Snapshot

Consumer IoT is broad term which is used to refer to an array of personal devices, such as smartphones, wearables, fashion items and home appliances that are connected to the internet. Consumer Internet of Things differs from Internet of Things mainly in terms of type of devices and the applications it is used for.  

Consumer Internet of Things no longer remains a novelty. The technology has capability to transform every nook and corner of the world.  From home to office, drawer to shoe rack, consumer IoT has changed the way we handle our day to day work. Adding sensors and other functionalities to products is normal now-a-days.  Higher product control, better business insights, resource tracking, business streamline, and better interaction to people, systems and environments are some of the advantages of consumers IoT.

In short, consumer IoT is useful for both homeowner looking for a connected life, or a business leader looking to manage their office. The utility is helpful to increase comfort and lifestyle for each and every people.

With the increase in the number of connected devices, the provider of consumer IoT services are launching several personalized services. Top leaders are emphasizing more on wireless technologies to quench the growing demand. The increasing adoption of consumer IoT across the globe is increasing the volume of data. These huge data volumes is one factor that is likely to drive the global consumer IoT market in the near future.  

Also, more and more business leaders are adopting the IoT data management software in order to gain a competitive edge with predictive analytics, as well as optimize business operations. Along with this increasing demand for home monitoring in remote locations as well as the growing adoption of home automation devices is another strong factor which is aiding the growth of consumer IoT market.

Global Consumer IoT Market: Overview 

The increase in internet penetration by consumers and growing adoption of smart device is likely to fuel growth of the global Consumer IoT market. The rising awareness about the fitness along with increase in disposable income in developing economies are some of the key factors positively augmenting for the growth of this market too. Consumer growing preferences towards improved lifestyle and for increased convenience are favoring well for the growth of the global consumer IoT market in the near future.

On the basis of application, home automation is likely to account for maximum market share in the global consumer IoT market. This is due to growing demand home monitoring in remote location and rising adoption of home automation device in various applications are another factors driving market growth in coming years. 

The report present comprehensive analysis of the global consumer IoT market. The report also offers wide-ranging analysis of the impact of major growth drivers, restraints, and trends supporting the global consumer IoT market’s future development. Data regarding major segments of the market, historical figures and prominent players operating in this market are also incorporated in the research study. 

Global Consumer IoT Market: Trends and Opportunities 

The consumer IoT market is likely to witness significant growth owing to growing adoption during the course of forecast period from 2018 till 2026. The rising number of internet user owing to increase in disposable income and lifestyle in developing and developed economies is likely to bode well for the growth of the global consumer IoT market in the near future. The growth in the network infrastructure is likely to boost growth of the global consumer IoT market in the coming years. 

The rise in connected device and growing number of internet penetrations is likely to another factors positively supporting growth of the global consumer IoT device. The rapid usage of connecting devices is expected to generate huge volume of data are another factor stimulating market growth in the foreseeable future. 

A diverse set of smart device along with the embedded sensors to develop structure and unstructured data of the global consumer IoT market, is another key factors is expected to drive growth of the global consumer IoT market in the upcoming years.   

Global Consumer IoT Market: Regional Outlook

 Geographically, North America is likely to register significant growth during the course of assessment period. The rising demand for the end-users device is another factor likely to stimulate growth of the global consumer IoT market. The growing demand and usage of these application is another trend positively triggering growth in this region. Furthermore, the growth of this market in this region mainly depends on rising number of chronic cases and growing number of diabetes case and easy procedure of the consumer IoT Market in the near future. The rapid increase in adoption of smart connected devices and rising digitalization is likely to drive growth of this market in North America. 

Global Consumer IoT Market: Competitive Insights 

Some of the key players operating in the global consumer IoT market are General Electric (GE), Symantec Corporation, Amazon.com, Inc., Hewlett Packard Enterprise Company and Microsoft Corporation. Moreover, presence of large and small scale industry in the global consumer IoT is likely to demonstrate fragmented structure. The manufacturers are highly concentrated towards research and development activities in order to expand their presence and maintain footprint in the global consumer IoT market.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

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  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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