Global Consumer IoT Market To Grow at a CAGR of 27% during 2021-2027

(IT-NEWSWIRE.COM, August 26, 2021 ) Consumer IoT Market is projected to grow up to USD 151.2 billion by 2027 growing at a CAGR of 27% during the forecasting period 2021-2027.

Consumer IoT is the phrase that brings an assortment of linked products such as electronic wearables, smartphones, domestic appliances to the internet network. The Internet Of Things varies from the Consumer IoTs in regard to the devices and their applications. The household equipment linked to the internet allow the deduction of labor for people. It provides improved business intelligence, business streamlining, resource monitoring, greater engagement and communication with people, and many other benefits.

Consumer Internet of Things (IoT) is a wide phrase that refers to a diverse range of personal gadgets such as smartphones, wearables, fashion items, and electronic gadgets that are all linked to the internet through a wireless network. The Consumer Internet of Things varies from the Industrial Internet of Things primarily on the basis of the kind of devices utilised and the applications for which they are used. Increasingly business executives are embracing Internet of Things data management software in order to obtain a competitive advantage via predictive analytics, as well as to improve their company's operational processes. The rising need for home monitoring in distant places, as well as the increasing use of smart home devices, is another important driver driving the development of the consumer IoT market in recent years.

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This report offers the major market player’s profiles, such as Qualcomm Incorporated (US), Texas Instruments Incorporated (US), NXP Semiconductors N.V. (Netherlands), Intel Corporation (US), STMicroelectronics N.V. (Switzerland), International Business Machines Corporation (IBM) (US), General Electric (GE) (US), Symantec Corporation (US), TE Connectivity Ltd. (Switzerland), Schneider Electric SE (France), Cisco Systems, Inc. (US), Amazon.com, Inc. (US), Apple Inc. (US), Alphabet Inc. (US), LG Electronics Inc. (South Korea), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), Microsoft Corporation (US), AT&T Inc. (US), Honeywell International Inc. (US), and Hewlett Packard Enterprise Company (HPE) (US).

The consumer IoT Market report has been categorized as below

By Type

Hardware

Solutions

Services

By Application

Home Automation

consumer Wearables

Consumer Electronics

Healthcare

Automotive

By Node Components

Processor

Sensor

Connectivity IC

Memory Device

Logic Device

By End users

Connectivity Management

Wearable Devices

Consumer Electronics

Healthcare,

Home Automation,

Automotive

Others

Based on regions:

North America

Europe

Asia Pacific

Rest of World

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Global Consumer IoT Market To Grow at a CAGR of 27% during 2021-2027