IoT in Consumer electronics market is expected to grow at a CAGR of 18% over the forecast period 2032

Internet of Things is an industrial revolution, which is building on the infrastructure of organizations. Networking of physical objects with the help of sensors and actuators which are capable of transmitting data is known as internet of things. The data collected is then analyzed with the help of tools and algorithms which is helpful in optimizing products and services.

Personal healthcare is a major area where Internet of Things is benefitting users by providing real-time data. Fit bands and blood pressure bands which are powered by IoT connects users to healthcare systems which helps in monitoring and tracking the user’s data. The Wearable segment in consumer electronics is expected to drive the market during the forecast period. Ayla networks, an Internet of things platform solution and service provider predicts that by the end of 2032, 172 Billion units of health monitoring devices are going to be deployed.

Smart home is the other leading segment in consumer electronics. Intrusion detection and monitoring of valuable assets help in preventing criminal activities. Smart homes integrate features like room control, entertainment systems, controlling air flow control and more. Digital assistants control the lighting, HVAC and other equipment through user voice. By giving voice commands to the digital assistant the home can be controlled through common cloud to which the devices are linked. IoT helps users in performing tasks in an efficient way to optimize time and money. It allows organizations, governments and others to improve their service deliverables.

Google LLC is about to acquire Xively, a global, public company that provides remote access and collaboration products to manage the increasing devices which are connected to the internet. The acquisition helps Google by increasing their existing customer base which count on sensors and other hardware.

IoT in Consumer Electronics Market Regional Analysis

Globally, North America holds the major share for IoT in consumer electronics market. The presence of major technology-based companies in the region, and high adoption of smart home automation makes drives the market in this region. Asia Pacific is estimated to show steep growth during the forecast period. The developments in technology related to Internet of Things, high investments in home automation solutions, and increasing consumer base among wearable and smartphones are driving the market in this region.

IoT in Consumer Electronics Market Key PlayerSome 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.