Global Consumer Internet of Things (CIoT) Market to hit USD 143.5 Billion By 2025

Internet of things

New York, NY, Feb. 26, 2019 (GLOBE NEWSWIRE) — 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.

Browse through 91 Tables & 36 Figures spread over 182 Pages and in-depth TOC on “Global Consumer Internet of Things (CIoT) Market: By Type, Size, Share, Technology, Industry Analysis and Forecast 2018–2025”.

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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.

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.

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In 2017, North America was observed to hold a dominant market position and is forecasted to hold a substantial share of the global consumer internet of things (CIoT) market over the upcoming years. The North American consumer internet of things (CIoT) market is likely to be driven by the rising consumer IoT adoption for smart home applications. The developed economies of North America are witnessing lifestyle changes and implementation of interconnected internet technologies for lowering their overall energy consumption. Nearly 60.01% of broadband households in the U.S. give prime importance to energy saving and lowering utility bills. The U.S. is expected to dominate this regional market in the future due to the strong presence of leading market players, such as Texas Instruments Incorporated, Intel Corporation, Qualcomm Incorporated, and International Business Machines Corporation, among others.

Europe is expected to hold a prominent share of the global consumer internet of things (CIoT) market in the future, as it is one of the most economically stable regions with a high disposable income of citizens. Additionally, it is also making huge investments in smart security systems. The European Union is funding huge amounts of capital for IoT-based home security for ensuring the best possible safety solutions, which, in turn, is projected to fuel the consumer internet of things (CIoT) market. The total number of IoT security units is estimated to reach 62.9 million units by 2020 in Europe.

Browse the full “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” Report at https://www.zionmarketresearch.com/report/consumer-internet-of-things-market

The Asia Pacific consumer internet of things (CIoT) market is expected to be the fastest growing market globally over the forecast timeframe. Rapid urbanization and industrialization in developing countries, such as India and China, are anticipated to drive the region’s consumer internet of things (CIoT) market growth in the future. Home automation adoption rate is growing at a swift pace, which has prominently increased the demand for consumer IoT devices in the region. China is forecasted to hold the largest market share in the region in the future, subject to huge IoT spending. China accounted for nearly 64.2% of the total IoT spending in Asia Pacific in 2018.

The Latin American consumer internet of things (CIoT) market is likely to be driven by the increasing number of mobile devices such, as smartphones, tablets, and laptops. In 2017, Latin America had more than 214.3 million smartphone users.

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