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IoT in Consumer Electronics Market Overview, Dynamics, Key Players, Opportunities and Forecast to 2027 | COVID-19 Effects

Vivek Vishwkarma
IoT in Consumer Electronics Market Overview, Dynamics, Key Players, Opportunities and Forecast to 2027 | COVID-19 Effects

Market Overview

Internet of Things (IoT) in Consumer Electronics refers to the smart interconnection between devices through internet technologies. The technology enables intelligent interconnection among these devices through the Internet.

The rising interest in the integration of IoT in connected home devices has given a new lease of life to consumer electronic products such as air conditioners, refrigerators, air purifiers, televisions, and fans among others. As a result, the global IoT in consumer electronics market is thriving in home electronics appliances, from entertainment to smart home control, making homes more intelligent and more connected.

IoT integrated devices can sense and transmit information online, offering consumers with various details and influencing their environment. With the help of IoT, gadgets can now be accessed digitally and remotely, practically from anywhere on a variety of devices, such as tabs, mobile phones, and laptops. In a nutshell, IoT has been helping consumer electronics to proliferate just as the lightning helps to mushrooms.

Manufacturers of consumer electronics are increasingly adopting IoT approaches to get their electronic appliances such as smart TV, washing machines, and home appliances connected. As a result, the IoT in the consumer electronics market is growing rapidly, gaining massive traction on the global platform.

Acknowledging the colossal growth, the market is witnessing currently, Market Research Future (MRFR) in its recently published study analysis asserts that the global IoT in consumer electronics market is poised to touch a valuation of USD 124 BN, registering a staggering double -digit CAGR of 24.16% through the assessment period (2017 to 2023).

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The burgeoning electronics sector is a key driving force behind the growth of the market. The dynamic of the enterprise technology market changes rapidly, and in the case of IoT, it even changes faster, and in the electronics industry, it is changing at lightning speed. Over the past few years, the world has shifted from on-premise to the strong allegiance with the cloud. 

Resultantly, factors such as the penetration of cloud computing alongside the increasing usages of smartphones and tablets are some of the key factors fostering the market, controlling IoT devices and developments in IoT security. 

IoT, a network of physically connected devices can exchange data communication and information with or without human presence with the help of software, sensor, electronic equipment, and network connectivity.

Over recent years, with the advancement in technology, IoT has bought the revolutionary changes in the consumer electronics sector, benefitting it largely and allowing manufacturers to connect devices and appliances.

However, now, with the availability of in-home Wi-Fi and connectivity points they are creating an environment that enables devices to get connected, reliably, to the cloud, ensuring secure transmission of operational, warranty, and service data.

Key Players:

Some of the key players in the global Iot In Consumer Electronics Market are Intel Corporation (U.S.), IBM Corporation (U.S.), Gainspan (U.S.), Apple Inc. (U.S.) Particle.io (U.S.), Libelium Comunicaciones (Spain), Qualcomm Technologies (U.S.), Silicon Laboratories (U.S.), Lantronix, Inc. (U.S.), ARM Holdings Plc., (U.K), Symantec (U.S.), PTC (U.S.), Texas Instruments (U.S.), Hewlett Packard Enterprise (U.S.), STMicroelectronics (Switzerland), Cisco Systems (U.S.), Amazon Web Services (U.S.), Ayla Networks (U.S.), Losant IoT (U.S.), Notion (U.S.), Pepper (U.S.) among others.

IoT in Consumer Electronics Market – Segmentations

For ease of understanding, the analysis has been segmented into four key dynamics:

  • By Product: Smart Phones, Smart TV, Wearable Devices, Printers, and Kitchen Appliances, among others.
  • By Deployment: On-premise and On-cloud.
  • By Connectivity: NFC, Wi-Fi, Bluetooth, Zwave, and ZigBee among others.
  • By Region: North America, Europe, Asia Pacific, and Rest-of-the-World.

IoT in Consumer Electronics Market – Geographical Analysis

The North American region, heading with the large technological advancements and the presence of the flourishing consumer electronics sectors, dominates the global IoT in the consumer electronics market, holding the largest share. Also, high-speed internet connectivity is a key driving force behind the growth of the regional market.

Moreover, factors such as the presence of major electronics manufacturers and the increasing demand for digital technologies, especially in the well-developed markets of the US and Canada foster the growth of the regional market. Furthermore, the presence of a well-established infrastructure that allows implementations and uptake of advanced technologies supports the growth of the regional market.

The IoT in the consumer electronics market in the European region accounts for the second-largest market, globally. Factors such as the huge advancements in IoT and its integration in the rapidly increasing consumer electronics market are propelling the growth of the regional market. Undoubtedly, the resurging economy is playing a vital role in the growth of the market in the region. The growing markets in Germany, the UK, France, and Italy will majorly support the market growth in the region.

The Asia Pacific IoT in the consumer electronics market has emerged as a profitable market, globally. The burgeoning electronics markets mainly in China, Japan, and India are contributing to the market growth in the region majorly.

The APAC region is becoming a lucrative market for consumer electronics over the past few years. The region also witnesses a huge technological advancement in ubiquitous technologies such as IoT and internet connectivity. The market is expected to grow, registering a considerable CAGR (2017-2023), perceiving a massive sale in the rapidly growing consumer electronics market across the region.

Get Complete Report @ https://www.marketresearchfuture.com/reports/iot-consumer-electronics-market-997

Intended Audience

  • Distributors and retailers
  • Research organizations
  • Technology standard organizations, forums, alliances, and associations
  • Technology investors
  • Operating system (OS) vendors
  • Content providers
  • Software providers

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Media Contact:

Market Research Future (Part of Wantstats Research and Media Private Limited)

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New York, NY 10013

United States of America

+1 628 258 0071 (US)

+44 2035 002 764 (UK)

Email: [email protected]

Website: https://www.marketresearchfuture.com

Vivek Vishwkarma
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