Product Code: GVR-4-68040-020-3
Consumer IoT Market Growth & Trends:
The global consumer IoT market size is estimated to reach USD 555.92 billion by 2030, registering a CAGR of 12.7% from 2023 to 2030, according to a study published by Grand View Research Inc. The considerable growth can be ascribed to the rising prominence of smart technologies among people. They are increasingly adopting consumer internet of things (IoT) devices, such as smart wearables, fitness trackers, smart home devices, etc., that gather and share data over the network. The large-scale deployment of consumer IoT devices and applications is revolutionizing day-to-day lives through greater control, increased comfort, tracking of pets and valuables, improved connections, and better insights. The growth of the market is further driven by the technological developments initiated by the market players.
They are mainly focusing on the development and launch of innovative offerings. In June 2020, Amazon.com, Inc. launched the Halo Band equipped with a temperature sensor, accelerometer, heart rate monitor, and two microphones. It also monitors the user's emotional state by listening to the tone of their voice. Several companies operating are also focusing on mergers and acquisitions to strengthen their product portfolio and gain a competitive edge. In 2021, Alphabet Inc.-owned Google acquired Fitbit with the aim to expand its footprint in the wearables market. The company does not develop its wearables but provides the software required to build smartwatches. This new deal will allow the former to effectively foray into the smart wearables market.
The MEA region will register a significant CAGR from 2023 to 2030 due to substantial investments in smart home technologies, connected vehicles, and remote health monitoring. Moreover, countries, such as Saudi Arabia and UAE have successfully implemented digital transformation projects and various national transformation programs. Europe will also have significant growth owing to the rising popularity of consumer internet of things devices. According to research conducted by RSM U.K. Consulting LLP along with European Centre for International Political Economy and YouGov in 2020, the number of consumer IoT devices is significantly increasing in the U.K., wherein the number of connected devices is expected to increase to nearly 75 billion by 2025. The consumer IoT devices that are popular in the country are wearables, smart TVs, smartphones, and smart speakers.
Consumer IoT Market Report Highlights:
- The hardware segment captured the highest revenue share in 2022, whereas the increasing need for end-to-end software solutions supporting the functioning of IoT devices is boosting the growth of the services segment at a significant CAGR during the forecast period
- The wireless segment held a considerable revenue share in 2022 and is projected to expand further at a significant CAGR from 2023 to 2030, due to the increased adoption rate driven by high scalability and cost-effectiveness
- The rising adoption of health-tracking devices is driving the growth of the healthcare application segment
- The North American market is expected to witness a steady growth rate from 2023 to 2030 owing to increasing consumer demand for fitness tracking devices and smart home solutions
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Research Methodology
- 1.2 Research Scope and Assumptions
- 1.3 List of Data Sources
Chapter 2 Executive Summary
- 2.1 Consumer IoT Market - Industry Snapshot & Key Buying Criteria, 2018 - 2030
- 2.2 Global Consumer IoT Market, 2018 - 2030 (USD Million)
- 2.2.1 Global consumer IoT market, by region, 2018 - 2030
- 2.2.2 Global consumer IoT market, by component, 2018 - 2030
- 2.2.3 Global consumer IoT market, by connectivity technology, 2018 - 2030
- 2.2.4 Global consumer IoT market, by application, 2018 - 2030
Chapter 3 Consumer IoT Market- Industry Outlook
- 3.1 Market Segmentation and Scope
- 3.2 Market Size & Growth Prospects
- 3.3 Consumer IoT Market - Value Chain Analysis
- 3.4 Consumer IoT Market - Market Dynamics
- 3.4.1 Market driver analysis
- 3.4.1.1 Growing adoption of smart devices
- 3.4.1.2 Consumer preference towards better lifestyle and convenience
- 3.4.1.3 Increased adoption of wearables for health monitoring
- 3.4.2 Market restraint analysis
- 3.4.2.1 Data security and privacy concerns
- 3.4.3 Market opportunity analysis
- 3.4.2.1 Government regulations to encourage green buildings
- 3.5 Penetration and Growth Prospects
- 3.6 Consumer IoT: Market Perspective
- 3.6.1 Consumer IoT - Technology Landscape
- 3.6.2 Consumer IoT - Regulatory Landscape
- 3.7 Business Environment Analysis
- 3.7.1 PEST Analysis
- 3.7.2 Porter's Five Forces Analysis
Chapter 4 Consumer IoT Component Outlook
- 4.1 Consumer IoT Market Share by Component, 2022
- 4.2 Hardware
- 4.2.1 Hardware Consumer IoT Market, 2018 - 2030
- 4.3 Software
- 4.3.1 Software Consumer IoT Market, 2018 - 2030
- 4.4 Services
- 4.4.1 Services Consumer IoT Market, 2018 - 2030
Chapter 5 Consumer IoT Connectivity Technology Outlook
- 5.1 Consumer IoT Market Share by Connectivity Technology, 2022
- 5.2 Wired
- 5.2.1 Wired Consumer IoT Market, 2018 - 2030
- 5.3 Wireless
- 5.3.1 Wireless Consumer IoT Market, 2018 - 2030
Chapter 6 Consumer IoT Application Outlook
- 6.1 Consumer IoT Market Share by Application, 2022
- 6.2 Consumer Electronics
- 6.2.1 Consumer Electronics Consumer IoT Market, 2018 - 2030
- 6.3 Healthcare
- 6.3.1 Healthcare Consumer IoT Market, 2018 - 2030
- 6.4 Wearable Devices
- 6.4.1 Wearable Devices Consumer IoT Market, 2018 - 2030
- 6.5 Automotive
- 6.5.1 Automotive Consumer IoT Market, 2018 - 2030
Chapter 8 Consumer IoT Regional Outlook
- 8.1 Consumer IoT Market Share by Region, 2022
- 8.2 North America
- 8.2.1 North America consumer IoT market, 2018 - 2030
- 8.2.2 North America consumer IoT market, by component, 2018 - 2030
- 8.2.3 North America consumer IoT market, by connectivity technology, 2018 - 2030
- 8.2.4 North America consumer IoT market, by application, 2018 - 2030
- 8.2.5 U.S.
- 8.2.5.1 U.S. consumer IoT market, 2018 - 2030
- 8.2.5.2 U.S. consumer IoT market, by component, 2018 - 2030
- 8.2.5.3 U.S. consumer IoT market, by connectivity technology, 2018 - 2030
- 8.2.5.4 U.S. consumer IoT market, by application, 2018 - 2030
- 8.2.6 Canada
- 8.2.6.1 Canada consumer IoT market, 2018 - 2030
- 8.2.6.2 Canada consumer IoT market, by component, 2018 - 2030
- 8.2.6.3 Canada consumer IoT market, by connectivity technology, 2018 - 2030
- 8.2.6.4 Canada consumer IoT market, by application, 2018 - 2030
- 8.3 Europe
- 8.3.1 Europe consumer IoT market, 2018 - 2030
- 8.3.2 Europe consumer IoT market, by component, 2018 - 2030
- 8.3.3 Europe consumer IoT market, by connectivity technology, 2018 - 2030
- 8.3.4 Europe consumer IoT market, by application, 2018 - 2030
- 8.3.5 Germany
- 8.3.5.1 Germany consumer IoT market, 2018 - 2030
- 8.3.5.2 Germany consumer IoT market, by component, 2018 - 2030
- 8.3.5.3 Germany consumer IoT market, by connectivity technology, 2018 - 2030
- 8.3.5.4 Germany consumer IoT market, by application, 2018 - 2030
- 8.3.6 U.K.
- 8.3.6.1 U.K. consumer IoT market, 2018 - 2030
- 8.3.6.2 U.K. consumer IoT market, by component, 2018 - 2030
- 8.3.6.3 U.K. consumer IoT market, by connectivity technology, 2018 - 2030
- 8.3.6.4 U.K. consumer IoT market, by application, 2018 - 2030
- 8.4 Asia Pacific
- 8.4.1 Asia Pacific consumer IoT market, 2018 - 2030
- 8.4.2 Asia Pacific consumer IoT market, by component, 2018 - 2030
- 8.4.3 Asia Pacific consumer IoT market, by connectivity technology, 2018 - 2030
- 8.4.4 Asia Pacific consumer IoT market, by application, 2018 - 2030
- 8.4.5 China
- 8.4.5.1 China consumer IoT market, 2018 - 2030
- 8.4.5.2 China consumer IoT market, by component, 2018 - 2030
- 8.4.5.3 China consumer IoT market, by connectivity technology, 2018 - 2030
- 8.4.5.4 China consumer IoT market, by application, 2018 - 2030
- 8.4.6 India
- 8.4.6.1 India consumer IoT market, 2018 - 2030
- 8.4.6.2 India consumer IoT market, by component, 2018 - 2030
- 8.4.6.3 India consumer IoT market, by connectivity technology, 2018 - 2030
- 8.4.6.4 India consumer IoT market, by application, 2018 - 2030
- 8.4.7 Japan
- 8.4.7.1 Japan consumer IoT market, 2018 - 2030
- 8.4.7.2 Japan consumer IoT market, by component, 2018 - 2030
- 8.4.7.3 Japan consumer IoT market, by connectivity technology, 2018 - 2030
- 8.4.7.4 Japan consumer IoT market, by application, 2018 - 2030
- 8.5 Latin America
- 8.5.1 Latin America consumer IoT market, 2018 - 2030
- 8.5.2 Latin America consumer IoT market, by component, 2018 - 2030
- 8.5.3 Latin America consumer IoT market, by connectivity technology, 2018 - 2030
- 8.5.4 Latin America consumer IoT market, by application, 2018 - 2030
- 8.5.5 Brazil
- 8.5.5.1 Brazil consumer IoT market, 2018 - 2030
- 8.5.5.2 Brazil consumer IoT market, by component, 2018 - 2030
- 8.5.5.3 Brazil consumer IoT market, by connectivity technology, 2018 - 2030
- 8.5.5.4 Brazil consumer IoT market, by application, 2018 - 2030
- 8.5.6 Mexico
- 8.5.6.1 Mexico consumer IoT market, 2018 - 2030
- 8.5.6.2 Mexico consumer IoT market, by component, 2018 - 2030
- 8.5.6.3 Mexico consumer IoT market, by connectivity technology, 2018 - 2030
- 8.5.6.4 Mexico consumer IoT market, by application, 2018 - 2030
- 8.6 MEA
- 8.6.1 MEA consumer IoT market, 2018 - 2030
- 8.6.2 MEA consumer IoT market, by component, 2018 - 2030
- 8.6.3 MEA consumer IoT market, by connectivity technology, 2018 - 2030
- 8.6.4 MEA consumer IoT market, by application, 2018 - 2030
Chapter 9 Competitive Landscape
- 9.1 Alphabet Inc.
- 9.1.1 Company overview
- 9.1.2 Financial performance
- 9.1.3 Product benchmarking
- 9.1.4 Strategic initiatives
- 9.2 Amazon.com, Inc.
- 9.2.1 Company overview
- 9.2.2 Financial performance
- 9.2.3 Product benchmarking
- 9.2.4 Strategic initiatives
- 9.3 Apple, Inc.
- 9.3.1 Company overview
- 9.3.2 Financial performance
- 9.3.3 Product benchmarking
- 9.3.4 Strategic initiatives
- 9.4 AT&T
- 9.4.1 Company overview
- 9.4.2 Financial performance
- 9.4.3 Product benchmarking
- 9.4.4 Strategic initiatives
- 9.5 Cisco Systems, Inc.
- 9.5.1 Company overview
- 9.5.2 Financial performance
- 9.5.3 Product benchmarking
- 9.5.4 Strategic initiatives
- 9.6 Honeywell International, Inc.
- 9.6.1 Company overview
- 9.6.2 Financial performance
- 9.6.3 Product benchmarking
- 9.6.4 Strategic initiatives
- 9.7 IBM Corporation
- 9.7.1 Company overview
- 9.7.2 Product benchmarking
- 9.7.3 Strategic initiatives
- 9.8 Intel Corporation
- 9.8.1 Company overview
- 9.8.2 Financial performance
- 9.8.3 Product benchmarking
- 9.8.4 Strategic initiatives
- 9.9 LG Corporation
- 9.9.1 Company overview
- 9.9.2 Financial performance
- 9.9.3 Product benchmarking
- 9.9.4 Strategic initiatives
- 9.10 Microsoft
- 9.10.1 Company overview
- 9.10.2 Financial performance
- 9.10.3 Product benchmarking
- 9.10.4 Strategic initiatives
- 9.11 Samsung
- 9.11.1 Company overview
- 9.11.2 Financial performance
- 9.11.3 Product benchmarking
- 9.11.4 Strategic initiatives
- 9.12 Schneider Electric
- 9.12.1 Company overview
- 9.12.2 Financial performance
- 9.12.3 Product benchmarking
- 9.12.4 Strategic initiatives
- 9.13 Sony Corporation
- 9.13.1 Company overview
- 9.13.2 Financial performance
- 9.13.3 Product benchmarking
- 9.13.4 Strategic initiatives
- 9.14 TE Connectivity
- 9.14.1 Company overview
- 9.14.2 Financial performance
- 9.14.3 Product benchmarking
- 9.14.4 Strategic initiatives
- 9.15 Texas Instruments
- 9.15.1 Company overview
- 9.15.2 Financial performance
- 9.15.3 Product benchmarking
- 9.15.4 Strategic initiatives