IoT in Consumer Electronics (Internet of Things) refers to the smart interconnection between devices through internet technologies. The technology enables an intelligent interconnection among devices through the Internet. Today, the IoT is thriving in home electronics, from entertainment to smart home control. Homes are becoming smarter and more connected over the period.
Recognizing the kind of growth the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that continuing with the same trends, the global IoT in Consumer Electronics market is projected to reach USD 124 Billion registering a CAGR of 24.16% through the forecast period 2017 to 2023.
Electronics industry gains the most from the IoT. Electronics manufacturers have been connecting devices and appliances for years. The availability of in-home Wi-Fi and connectivity points is creating an environment that enables devices to reliably get connected to the cloud to send operational, warranty and service data. It’s easy to see what a tremendous opportunity the connected home is creating for the electronics industry.
IoT in Consumer Electronics Market – Regional Analysis
North America is projected to be the leading market for consumer electronics, globally holding the largest market share owing to the presence of major electronics manufacturers. Attributing to the increasing demand for digital technologies and growing technological advancements in the region, the U.S. and Canada account for the major contributor to the market growth in the region.
Some of the market leader in the Global IoT in Consumer Electronics Market include, IBM (US), Intel (US), Gainspan (US), Particle.io (US), Apple Inc. (US), Qualcomm Technologies (US), Libelium Comunicaciones (Spain), Silicon Laboratories (US), ARM Holdings Plc., (UK), Lantronix, Inc. (US), Symantec (US), Texas Instruments (US), Hewlett Packard Enterprise (US), PTC (US), STMicroelectronics (Switzerland), Amazon Web Services (US), Cisco Systems (US), Ayla Networks (US), Notion (US), Losant IoT (US), and Pepper (US)