Consumer IoT Market Growth Expected to See Next Level | NXP, STMicroelectronics, General Electric


HTF MI’s most recent report on the global consumer IoT market assesses the market’s size, trend, and projection through 2030. A valuable resource document for managers, analysts, industry experts, and other key stakeholders, the Consumer IoT market study provides extensive research data and proofs to help them understand market trends, growth drivers, opportunities, upcoming challenges, and competitors.

Qualcomm Incorporated (USA), Texas Instruments Incorporated (USA), NXP Semiconductors N.V. (Netherlands), Intel Corporation (USA), STMicroelectronics N.V. (Switzerland), International Business Machines Corporation (IBM) (USA), General Electric (GE) (USA), Symantec Corporation (USA), TE Connectivity Ltd. (Switzerland), Schneider Electric SE (France), and Cisco Systems, Inc. (USA) are some of the major participants in this report.

The global consumer IoT market, according to HTF Market Intelligence, is expected to grow at a compound annual growth rate of 11.9% from 2023 to 2030, with a market valuation of USD million in 2023 and revenue of USD million by 2029.

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The network of physical objects, appliances, and gadgets that are equipped with sensors, software, and networking capabilities to exchange data and connect to the internet is known as the “consumer internet of things,” or “IoT.” People usually utilise these gadgets in their homes or other private areas to improve efficiency, convenience, and general quality of life.

Trends in the Market:

Artificial intelligence (AI) and machine learning (ML) algorithms are being progressively integrated into consumer IoT devices in order to enhance functionality and provide more individualised experiences. This enables gadgets to pick up on user preferences, adjust to shifting circumstances, and offer more sophisticated and effective services.

Market Motivators:

The idea of a “smart home,” which is one with multiple connected systems and gadgets under centralised control, is becoming more and more popular. Solutions for smart homes that provide convenience, energy efficiency, and improved security are attracting more and more interest from customers.

Market Possibilities:

By using IoT capabilities, businesses can expand the range of products and services they offer. To appeal to tech-savvy consumers, this may entail developing smarter versions of currently available products, such as wearables, home security systems, and appliances.

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Below is an illumination of the Global Consumer IoT Market segments and Market Data Break Down:

An analysis of the global consumer IoT market is conducted by region (North America, South America, Europe, Asia Pacific, MEA), application (wearable devices, consumer electronics, healthcare, home automation, and automotive), and type (node components, network infrastructure, solutions, and services).

The Global Consumer IoT Market Report provides information on growth patterns, industry trends, and current and future market conditions. It also provides business strategies to assist stakeholders in making decisions that might secure the profit trajectory throughout the forecast years.

Geographically, a thorough examination of the following regions’ revenue, market share, consumption, and growth rate

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Goals for the Report

Key points from the Table of Contents:

Coverage of Consumer IoT Market Study:

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Important queries addressed

How viable is the consumer IoT market in terms of long-term capital?

What are the variables that will likely drive the demand for consumer IoT in the near future?

How do different factors affect the growth of the global consumer IoT market?

What are the current and level of success of the regional market trends?

We appreciate you reading this post. You can also download the report in PDF format for any chapter or region, such as North America, the Middle East, Africa, Europe, or Latin America and Southeast Asia.

About Author: HTF Market Intelligence Consulting provides services with exceptional depth and breadth of thought leadership, research, tools, events, and experience that aid in decision-making. HTF Market Intelligence Consulting is uniquely positioned to empower and inspire with research and consulting services to enable businesses with growth strategies.

Get in touch with us:Craig Francis, HTF Market Intelligence Consulting Private Limited’s PR and marketing manager, can be reached at +15075562445 or via [email protected] in touch with us on Facebook, Twitter, and LinkedIn.

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